Ceramic Matrix Composite Market Size Worth USD 6.72 Billion By 2025 | CAGR: 12.6%
Published Date : 01 / 04 / 19 | Report Format: PDF
The global Ceramic Matrix Composite market is expected to grow at growth rate of 12.6% to reach USD 6.72 Billion by 2025.
Ceramic Matrix Composite (CMC) has high utility in various kinds of thermal management applications and electronics. The credibility lies in the material’s high thermal and electrical conductivity. It is perfect for applications where high efficiency is a necessity. High durability, stiffness, endurance, and strength to weight ratio is majorly driving the growth of CMC industry during the forecast period. Moreover, it is expected that a combination or replacement of conventional materials with Nanocomposites or matrix composites will bolster the growth. Although global CMC market has tremendous prospect yet there are certain factors that may inhibit its growth to the optimum level. One of them is associated with the high manufacturing cost that is largely influenced by the cost of ceramic fibers. Cost of premium grade silicon carbide fiber can have the ceiling price of USD 11,080 per kg. One of the justified rationales for high prices can be comprehended on the grounds that ceramic production is a highly specialized and labor-intensive process.
- The ceramic matrix composite market is classified into four types namely, silicon carbide, carbon, oxide and others. In most composites, carbon Fiber is used and thereby produced in bulk.
- Oxide matrix composites (latest rendition in the industry) are anticipated to be one of the fastest growing product category in the course of the study period and it will have more than 25% revenue share till 2025
- The end user industries comprise of aerospace, automotive, energy & power, defence and electrical & electronics. Among these industries, sectors such as electrical and energy & power applications are anticipated to have huge demand for CMCs, supporting the industry growth.
- As North America has a huge budget on defense and aerospace, it is expected that the region will have the highest concentration of CMC consumers. In 2017, North America witnessed the highest growth of ceramic matrix composite market and it is expected to pick up the pace till 2025.
- The expansion of the global market for CMC is lead from the front by eminent players such as 3M Company, Ceramtec International, and COI Ceramics, Inc.
- It will not be long before various multinational companies and aviation giants like GE Aviation make a humungous investment in the development of ceramic composites to manufacture aircraft engines.
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- Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
- Silicon Carbide
MARKET, BY APPLICATION
- Energy & power
- Electrical & Electronics
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Middle East and Africa
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