The report “Ceramic Matrix Composites Market by Matrix Type (C/C, C/Sic, Oxide/Oxide, Sic/Sic), Fiber Type (Continuous, Woven), End-use Industry (Aerospace and Defense, Automotive, Energy and Power, Industrial), and Region – Global Forecasts to 2028”, is estimated at USD 11.9 billion in 2022 and is projected to reach USD 21.6 billion by 2028, at a CAGR of 10.5% from 2023 to 2028. Factors such as the superior properties of ceramic matrix composite materials like corrosion resistance, lightweight and high strength, durability, and improved performance are positively driving the growth of the ceramic matrix composites Market. Furthermore, The rising applications from emerging economies and the adoption of ceramic matrix composites will further propel the growth rate of the ceramic matrix composites market. The development of new technologies such as 3D printing, automation, and digital design tools is making producing ceramic matrix composites components easier and more cost-effective.
Some of the prominent key players are:
· General Electric (US)
· Rolls-Royce PLC (UK)
· SGL Carbon (Germany)
· Raytheon Technologies Corporation (US)
· Axiom Materials Inc. (US)
· CoorsTek (US)
· Lancer Systems (US)
· COI Ceramics (US)
· Applied Thin Films (US)
· Ultramet (US)
· CFC Carbon co., ltd. (China)
Driver: Higher demand for lightweight, fuel-efficient vehicles
The use of ceramic matrix composites in the automotive industry is increasing due to its lightweight, high strength, and durability. Luxury and sports car manufacturers have started to use ceramic matrix composites in their engine components as they are strong, lighter, and can withstand very high temperatures. Thus, this growing need to improve efficiency, cut fuel costs, lower pollution, and develop lightweight automobiles is driving the demand for ceramic matrix composites.
Oxide/Oxide matrix type segment is expected to account for the largest market share in 2022.
In Ox/Ox ceramic matrix composites, the matrix material is typically a ceramic oxide, such as aluminum oxide (Al2O3) or zirconium oxide (ZrO2). These ceramic oxides provide excellent thermal stability, chemical resistance, and mechanical properties. They can withstand high temperatures and offer good oxidation resistance. Oxide/Oxide (Ox/Ox) is a matrix type used in ceramic matrix composites. Ox/Ox composites consist of a ceramic matrix reinforced with oxide fibers. This matrix type offers unique properties and advantages in various applications.
Asia Pacific is expected to account for the third largest share in 2022
The ceramic matrix composites market has been studied in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The Asia-Pacific ceramic matrix composites market is driven by the growing need for energy, which propels the need for ceramic matrix composites materials in automotive, aerospace and defence, and other industries. The Asia Pacific region is third largest markets for ceramic matrix composites globally, with China, India, and Japan being the major contributors to the market growth. The increasing demand for ceramic matrix composites in various industries such as automotive, and aerospace, is driving market growth in the region. Japan is the largest market for ceramic matrix composites in the Asia Pacific region, accounting for a significant market share.
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