Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Ceramic Matrix Composites Market by Matrix Type (C/C, C/Sic, Oxide/Oxide, Sic/Sic), Fiber Type (Continuous, Woven), End-Use Industry (Aerospace & Defense, Automotive, Energy & Power, Industrial), and Region - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The ceramic matrix composites market size is estimated to be USD 8.8 billion in 2021 and is projected to reach USD 25.0 billion by 2031, at a CAGR of 11.0% between 2021 and 2031.
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.
Oxide/Oxide ceramic matrix composites accounted for the largest share, in terms of volume, of the overall ceramic matrix composites market.
In terms of volume, the oxide/oxide ceramic matrix composites segment accounted for the largest share of 44% of the overall ceramic matrix composites market in 2020. This is due to the high demand for oxide/oxide ceramic matrix composites in aerospace, industrial, and automotive applications. Oxide/oxide ceramic matrix composites are considered as a material of choice for the aerospace, industrial, and automotive industries due to their low weight, high friction, and temperature resistance properties.
In the aerospace & defense industry, it is largely used to make hot exhaust structures and turbine engine components. In automotive applications, it is mainly used in the brake systems of sports vehicles. It is also widely used in industrial applications for furnace doors, slide plates, and sintering aids, among others.
The ceramic matrix composites market in the aerospace & defense industry is expected to register the highest CAGR between 2021 and 2031.
Aerospace & defense is the largest end-use industry of ceramic matrix composites. Ceramic matrix composites are used in the aerospace & defense industry owing to their 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. The lightweight and high temperature resisting properties of ceramic matrix composites help manufacturers in increasing the overall efficiency of aircraft by reducing fuel consumption and lowering emissions.
The ceramic matrix composites market in North America is projected to register the highest CAGR, in terms of value and volume, between 2021 and 2031.
North America dominated the global ceramic matrix composites market. The region has the presence of many manufacturers of ceramic matrix composites and their 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.
The study includes an in-depth competitive analysis of these key players in the ceramic matrix composites market, with their company profiles, recent developments, and key market strategies.
Applied Thin Films
Axiom Materials Inc.
BJS Ceramics GmbH
CFC Carbon Co., Ltd.
Composites Horizons LLC
Fiber Materials Inc.
General Electric Company
Starfire Systems Inc.
Touchstone Advanced Composites
United Composites B.V.
Wpx Faserkeramik GmbH
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