Global Ceramic Matrix Composites Market: Overview
Ceramic matrix composites are composite materials including ceramic fibers embedded in a ceramic matrix and forming a ceramic material. However, carbon and carbon fibers are also considered as ceramic material. Ceramic matrix composites are used in the various applications such as aerospace, electronics, defense, thermal management, and others in order to improve performance and sturdy structures. They are expected to replace conventional alloys and other metal components as they operate at “no cooling” medium owing to higher thermal stability. The cost of ceramic matrix composites is greatly influenced by the volatile prices of the ceramic fibers.
Global Ceramic Matrix Composites Market: Growth Factors
Ceramic matrix composites provide high strength, temperature stability, and lower weight; these properties have increased their popularity globally. Owing to the presence of high thermal stability and electrical conductivity, they can be used in the several electronic and thermal management applications, which is anticipated to boost the global ceramic matrix composites market growth. In addition, accelerating demand for ceramic matrix composites from aerospace industry is expected to boost the global market growth. Many multinational companies are largely investing in the developing regions to meet the rising demand for these compounds. GE Aviation is one of the biggest manufacturers of jet and marine engines, which is largely spending over R&D of ceramic matrix composites for manufacturing aircraft engines. Currently, high capital is needed for the batch processes at high temperatures; hence, companies are focusing on the cost-efficient generation of the matrix. This may influence the global ceramic matrix composites market in a positive way.
Global Ceramic Matrix Composites Market: Segmentation
The global ceramic matrix composites market is categorized based on applications as automotive, aerospace & defense, electrical & electronics, energy & power, and others. On the basis of the type, the global market is classified as silicon carbide, carbon, oxide, and others. Of these, silicon carbide matrix composites are the leading segment in the global market. Owing to the presence of higher oxidation resistance as compared to carbon, matrix composites are preferred for aerospace applications. Due to improved properties of oxide, compounds including high fracturing toughness, no oxidation, and the less expensive production process, these witness high demand from energy & power, aerospace, and defense applications.
Global Ceramic Matrix Composites Market: Regional Analysis
The global ceramic matrix composites market is fragmented based on geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America held the largest market share due to higher penetration of ceramic matrix composites in the defense and aerospace sector. In addition, increased spending on the research and development for manufacturing these compounds also fosters the global market growth. Asia Pacific is another region growing at a faster rate due to increased investment in new nuclear power plants, power stations, defense, and aerospace.
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Global Ceramic Matrix Composites Market: Competitive Players
Major players in the global ceramic matrix composites market are 3M Company, COI Ceramics, Inc., SGL Carbon Company, CoorsTek, Inc., General Electric Company, Ube Industries, Ltd., Applied Thin Films, Inc., and CeramTec International.