Ceramic Matrix Composites Market Price, statistics & forecast trends by 2024
The latest Ceramic Matrix Composites Market Price and statistics report talks about major applications of Ceramic Matrix Composites, growth of these segments as well as offers insights into companies active in this industry and their information.
Global Ceramic Matrix Composites Market size is likely to witness significant gains, expanding at a high CAGR by 2024. Ceramic matrix composites are a subgroup of technical ceramics and composite materials. Properties such as electrical conductivity and high thermal stability have made ceramic matrix composites suitable for numerous thermal and related applications where weight to strength ratio and high efficiency is of utmost importance.
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The enormous demand for lightweight, fuel efficient and superior durability materials from aerospace and defense industry is likely to propel the overall ceramic matrix composites market over the coming years.
The soaring prices of the product limit the applications to niche segments. These high prices can be attributed to the high prices of ceramic fibers. The production volumes of alumina and silicon carbide are small as compared to carbon fibers, and only a few major players in North America and Europe lead the ceramic matrix composites market.
The overall ceramic matrix composites market, based on product type, can be segmented into carbon, silicon carbide (SiC), oxides and carbon fiber reinforced silicon carbon (C/SiC). Carbon/carbon matrix composites accounted for largest ceramic matrix composites market share in 2016. The use of carbon/carbon matrix composites for braking system in automobile and aerospace industry due to its elevated temperature & friction resistant properties and low weight, has propelled the product demand in recent years.
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Reasons to Buy This Report:
- Ceramic Matrix Composite Market size & share forecast by product & application 2017-2024
- Growth drivers, pitfalls & industry challenges
- Key Ceramic Matrix Composite Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
The differentiating factor of Ceramic Matrix Composite market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook. Business focused multiple trends for Ceramic Matrix Composites industry are discussed along with regional trends to offer an overall view of the market.
The superior characteristics of oxide matrix composites such as toughness, no oxidation at elevated temperatures along with cost effective production process will raise the product demand in aerospace & defense and automobile industry over the forecast timespan.
Based on applications of the product, ceramic matrix composites market can be categorized into aerospace & defense, energy & power, automotive and electrical & electronics. The product also has applications in industrial, bio-medical and marine industry. Aerospace & defense was the largest application segment in 2016, followed by automotive industry.
The ‘industry insights’ chapter of this research provides the most comprehensive analysis of Ceramic Matrix Composites market covering segmentation, size, forecasts, ecosystem analysis and more. Industry impact forces (regional and global) that cover growth drivers and challenges, growth potential analysis, a strategy dashboard for competitive landscape of Ceramic Matrix Composites market support this sector specific data and information points.
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North America led the ceramic matrix composites market share in 2016 and is anticipated to witness fast pace by 2024. The regional ceramic matrix composites market size growth can be attributed to the developing aerospace and defense industry along with strict regulations stressing the use of fuel efficient and light weight products.
Asia Pacific shall be the fastest growing region for the ceramic matrix composites market over the forecast timespan. China and India are two important countries which have increased their spending on defense and aerospace sector in the recent times. This amplified expenditure is expected to fuel the ceramic matrix composites market size growth in the coming years.
The prominent players operating in the industry are SGL group, General Electric Company, CeramTec International, Applied Thin Films Inc., 3M Company, COI Ceramics Inc. and Rolls-Royce PLC. Other companies include Ultramet Inc., Starfire Systems Inc., United Technologies and Ube Industries Limited.
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