The global ceramic matrix composites (CMC) market is expected
to reach USD 6.0 billion by 2024, according to a new report by Grand View
Research, Inc. High thermal stability and electrical conductivity have made
ceramic matrix composites desirable in various thermal management applications
where high efficiency and weight to strength ratio is required. CMCs observe
strong demand from aerospace, defense, energy & power, etc.
applications.
Lower weight than conventional alloys with high strength and
improved stability at a higher temperature has made the CMCs popular choice.
They are subjected to constant research efforts that focus on the progressive increase
in product life, strength and thermal stability.
The high cost of ceramic fibers has greatly influenced the
market growth. Unlike the carbon fiber, which is used in most of the metal and
polymer composites and thus is produced in bulk, other ceramic fibers are
produced in small quantity which refrains it from the cost benefits of mass
production. Ceramic matrix composites production being an energy-intensive
process, it adds up to the final product cost, making it useful only in
high-end applications such as aerospace, defense, thermal management, etc.
Browse full research report on Ceramic Matrix Composites
Market: http://www.grandviewresearch.com/industry-analysis/global-ceramic-matrix-composites-market
Further key findings from the report suggest:
- Silicon
carbide composites emerged as the major product segment and held 35.3% in
of total demand in 2015. Earlier development and commercialization along
with better oxidation resistance properties have helped the product
penetration.
- Ceramic
matrix composites demand from the aerospace application is expected to
exceed 3.0 million tons by 2024. CMCs have been used for making airplane
nose, fins, engine components, body panels, etc. on account of their high
thermal resistance and lower weight than traditional alloys.
- North
America emerged as the dominant regional market with demand share
estimated at 44.6% in 2015. High penetration in the region attributed to
the significant growth of aerospace and defense industries with initial
technological developments.
- Asia
Pacific ceramic matrix composites market is expected to witness an
estimated growth of 14.3% from 2016 to 2024 in terms of value and is
projected to be the fastest growing region over the forecast period.
Increasing focus on the development of self-sustained defense and
aerospace industries from China and India along with rising numbers of new
power plants in the region is expected to trigger the regional market
growth.
- Leading
companies operating in the global market include General Electric Company,
3M Company, CoorsTek, Inc., Applied Thin Films, Inc., CeramTec
International, COI Ceramics, Inc., Ube Industries, Ltd. and SGL Carbon
Company
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global ceramic matrix
composites (CMC) market on the basis of product, application and region:
Global Ceramic Matrix Composites (CMC) Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- Oxides
- SiC
- Carbon
- Others
Global Ceramic Matrix Composites (CMC) Application
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- Aerospace
- Defense
- Energy
& Power
- Electrical
& Electronics
- Others
Global Ceramic Matrix Composites (CMC) Regional Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- North
America
- U.S.
- Europe
- Germany
- France
- UK
- Asia
Pacific
- China
- India
- Japan
- Middle
East & Africa
- Central
& South America
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/ceramic-matrix-composites-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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