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
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.
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