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A recent report published by Infinium Global Research on ceramic matrix composites market provides an in-depth analysis of segments and sub-segments in the global as well as regional ceramic matrix composites market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ceramic matrix composites market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global ceramic matrix composites market. According to the report, the global ceramic matrix composites market is projected to grow at a CAGR of 10.55% over the forecast period of 2018-2024.
Ceramic matrix composites are advanced materials that consist of ceramic fibers embedded in a ceramics matrix. They are tough, lightweight, and capable of withstanding temperatures 300–400 degrees F hotter than metal alloys can endure. Ceramic matrix composites are used in several applications due to its physical and mechanical properties. These materials have increased toughness, extreme thermal shock resistance, and improved dynamical load capability. They are also very stable to corrosion. These advanced materials are used in manufacturing heat exchangers, refractory components, combustion liners of gas turbines engines, gas fired burners and filters.
The growing demand for advanced material for commercial and military applications is the primary factor for the growth of the ceramic matrix composites market. Ceramic matrix composites are used in the manufacturing of aircraft, spacecraft, and missile structures and engines, as they are lightweight, provide toughness, and have the ability to bear heavy loads. In addition, the expanding global industrialization fuels the growth of the ceramic matrix composites market. The use of ceramic matrix composites in gas turbines permits higher turbine inlet temperatures that improve turbine efficiency. Furthermore, mandatory environmental regulations to reduce emissions of pollutants continues to be an incentive for developing cleaner and more efficient materials, that in turn promotes the growth of ceramic matrix composites market over the forecast period. Corporate Average Fuel Efficiency (CAFÉ) and the European Union Automotive Fuel Economic Policy (UNEP) in North America and Europe contribute to the growth of the ceramic matrix composites market significantly. However, the high cost of production of ceramic matrix composites hampers the growth of this market. Moreover, the growing demand for lightweight fuel-efficient vehicles propels the growth of the ceramic matrix composites market.
The ceramic matrix composites market is a highly fragmented market. Geographically, North America held the maximum market share in the Ceramic matrix composites market and is expected to remain dominant over the forecast period owing to the increasing demand for lightweight and durable advanced composite materials for aerospace and industrial applications. Europe is the fastest growing region owing to the increasing imposition of environmental regulations and the growth of the automotive industry in this region. High demand for ceramic matrix composites from the automotive, aerospace & defense, and energy & power industries and their excellent performance properties at high temperature are factors that promote the growth of this market in the Asia-Pacific region.
The report on global ceramic matrix composites market covers segments such as types, fiber type, and end user. On the basis of types, the sub-markets include carbon-carbon, silicon carbide-silicon carbide, carbon-silicon carbide, oxide-oxide, and others. On the basis of fiber type, the sub-markets include continuous fiber and short fiber. On the basis of an end user, the sub-markets include electricals & electronics, aerospace & defense, energy & power, automotive, and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2018-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the market such as Rolls-Royce plc, SGL GROUP, CeramTec, CoorsTek Inc, Ultramet, COI Ceramics, Inc, UNITED TECHNOLOGIES, Lancer Systems, applied thin films inc., Composites Horizons
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ceramic matrix composites market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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