Ceramic Matrix Composites Market Plying for Significant Growth During 2024
Ceramic
matrix composites, the materials fabricated by embedding ceramic
fibers in a ceramic matrix, are finding an increasing number of
applications across a number of industries and areas owing to their
low weight, high strength, and excellent performance capability at
high temperatures. From their use for the construction of exterior
components of aerospace and defense vehicles, automobiles to their
use in automobile brakes and bulletproof armors, the array of
applications of ceramic matrix composites is rapidly expanding.
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Report Overview @
This
report on the global ceramic matrix composites market presents an
exhaustive account of the market as observed in present times and
includes vast forward-looking statements forecasting the growth
prospects of the market over the period between 2016 and 2024. The
report examines factors such as growth drivers, trends,
opportunities, challenges, and regulatory aspects on the market’s
future growth prospects. A detailed overview of the market’s
competitive landscape is also presented in the report, with the help
of thorough business profiles of some of the leading companies in the
market, SWOT analysis of all companies profiled, and other details.
The
global market for ceramic matrix composites is expected to exhibit a
healthy CAGR over the report’s forecast period, with rising demand
across industries such as aerospace, defense, and automotive expected
to be the key driving force. The market is expected to benefit from
the rising focus on the development of vehicles that are lightweight
and thus are more fuel-efficient than their heavier counterparts.
Of
the key product varieties available in the market, including oxide
ceramic matrix composites, silicon carbide ceramic matrix composites,
and carbon ceramic matrix composites, the segment of carbon ceramic
matrix composites presently accounts for the leading share in the
global market. This is chiefly attributed to the high strength of the
material, an extensive set of applications, and an economical
commercial production using carbon fiber, allowing the material to be
available at competitive costs as compared to other ceramic matrix
composites.
Of
the key end-user industries employing ceramic matrix composites, the
aerospace industry presently accounts for the dominant share owing to
usage in high-cost aerospace components. The power production and
transmission industry is also expected to emerge as a leading
consumer of a variety of ceramic matrix composites in the next few
years owing to the excellent thermal stability of these materials.
From
a geographical perspective, the global ceramic matrix composites
market has been examined in the report for regional markets such as
North America, Europe, Asia Pacific, and Middle East and Africa. Of
these, the North America market presently holds a dominant share in
the global market, chiefly owing to high adoption across the
aerospace and automotive industries. Presence of some of the world’s
leading ceramic matrix composites manufacturers is also a key factor
driving the North America market.
In
the next few years, however, the Asia Pacific market for ceramic
matrix composites is expected to emerge as the fastest growing
regional market. The thriving automotive, aerospace, and defense
industries in the region are expected drive the demand for a variety
of ceramic matrix composites in the region over the report’s
forecast period.
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The
report profiles some of the leading companies operating in the global
ceramic matrix composites market, including SGL Carbon Company,
General Electric Company, Pratt & Whitney, 3M Company, Ube
Industries, Ltd., CoorsTek, Inc., CeramTec International, and Applied
Thin Films, Inc.
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