May 22, 2019   SOURCE: BusinessWire

Ceramic Matrix Composites (Oxide/Oxide, C/SiC, C/C, SiC/SiC) Market - Global Forecast to 2029 - ResearchAndMarkets.com

The "Ceramic Matrix Composites Market by Matrix Type (Oxide/Oxide, C/SiC, C/C, SiC/SiC), End-Use Industry (Aerospace & Defense, Automotive, Energy & Power, Industrial), Region (North America, Europe, APAC, Middle East & Africa,) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The ceramic matrix composites market size is estimated to be USD 9.4 billion in 2019 and is projected to reach USD 23.3 billion by 2029, at a CAGR of 9.5% between 2019 and 2029

Ceramic matrix composites are used in different industries such as aerospace & defense, automotive, energy & power, and industrial. They exhibit various properties such as non-corrosiveness, light weight, high mechanical strength, and high-temperature capability. The superior properties offered by ceramic matrix composites are enabling its usage in various end-use industries.

C/SiC matrix composites accounted for the largest share, in terms of value, of the overall ceramic matrix composites market.

C/Sic matrix composites dominated the overall ceramic matrix composites market in 2018. Ceramic matrix composites possess characteristics such as superior efficiency, higher tensile strength, and excellent mechanical properties at higher temperature. C/SiC ceramic matrix composites have the highest specific strength and can survive a wide range of high-temperature environment. C/SiC ceramic matrix composites are used in the nose cap of thermal protection system (TPS) and brake systems of luxury cars such as Porsche, Mercedes, and Audi.

The ceramic matrix composites market in the aerospace & defense industry is expected to register the highest CAGR between 2019 and 2029.

The increasing use of ceramic matrix composites in the aerospace & defense industry is mainly due to its properties, such as high damage tolerance, fracture toughness, and high temperature, wear & corrosion resistance. These properties allow ceramic matrix composites to withstand severe thermomechanical loading conditions. Ceramic matrix composites are used in various aerospace applications such as braking systems, structural nozzles, thermal barriers, and engine components. These composites help aircraft manufacturers in reducing weight and increasing efficiency of the engine.

The ceramic matrix composites market in North America is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2029.

North America dominated the global ceramic matrix composites market. The region has the presence of many manufacturers of ceramic matrix composites and its products. The US accounted for a major share of the global ceramic matrix composites market and is expected to register significant growth during the forecast period. The growth of the ceramic matrix composites market in this region is mainly driven by the growing aerospace & defense industry.

Market Dynamics

Drivers

  • Need to Reduce Weight to Optimize Efficiency of Automobiles
  • Growing Demand for Ceramic Matrix Composites in Aerospace & Defense and Energy & Power Industries

Restraints

  • Higher Costs Compared to Other Metals and Alloys
  • High Customization Requirement for End-Use Applications

Opportunities

  • Incorporation of Low-Cost Production Technologies
  • Standardization of Ceramic Matrix Composites Production

Challenges

  • Issues Related to Reparability and Recyclability
  • Slower Adoption in Newer Applications Such as Energy & Power

Companies Mentioned

  • Applied Thin Films Inc.
  • Axiom Materials, Inc.
  • CFC Carbon Co., Ltd.
  • COI Ceramics Inc.
  • Coorstek Inc.
  • General Electric Company
  • Graftech International Ltd. (Fiber Materials Inc.)
  • Lancer Systems
  • Matech
  • Plasan North America
  • Precision Castparts Corp.
  • Pyromeral Systems
  • Rolls-Royce Plc.
  • SGL Carbon
  • Starfire Systems Inc.
  • Touchstone Advanced Composites
  • Ultramet
  • United Composites B.V.
  • United Technologies
  • Zircar Zirconia, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/8i9t1t