Ceramic Matrix Composites Market 2021-2027 Industry Outlook, Growth Scenario and Emerging Trends
Ceramic matrix composites offer brilliant stiffness and excellent stability, including thermal, chemical, dimensional, and mechanical.
The Global Ceramic Matrix Composites Market was valued at US$ 7.9 Bn in 2020 is expected to reach US$ 15.8 Bn by 2027, with a growing CAGR of 10.4% during the forecast period (2021-2027).
Ceramic matrix composites are used for a variety of purposes like efficient gas turbines for aerospace, for gas turbines and structural entry thermal protection, and the energy sector for heat exchangers and fusion reactor walls. The elements predominantly used in ceramic matrix composites are carbon, alumina, silicon carbide, and alumina-silica. Ceramics have thermal shock resistance up to a certain level and are generally very tough. Some of the most common applications of ceramic matrix composites include heat exchangers burner components, gas turbine components: turbine blades, combustion chambers, stator vanes, and turbine engines, etc, aerospace industry, etc.
The wind energy sector is has become an increasingly popular trend nowadays in many countries since it is a renewable and clean source of energy, has a very low operating cost, and uses the land space very efficiently. Ceramic matrix composites are used in the wind energy sector for turbine blades. Although there are some disadvantages associated with wind energy such as they can be noisy and insipid aesthetically and can also adversely impact the environment around them. Wing energy also doesn’t result in greenhouse gas emissions. They also don’t require any fossil fuels to burn.
The number of people traveling by air is also increasing day by day and so is the requirement of the number of jets. Since ceramic matrix composites are extensively used in jet engines their demand in the future will only increase. The amount of trade that is taking place through the air has also increased in the past few days. During covid and other humanitarian crisis doing trade through the air route is a very convenient method since the trade can be done in a short span of time and it is also one of the safest modes of transport hence these are some of the factors that can prove to be the drivers of the ceramic matrix composites market.
Ceramic matrix composites are used in brake discs and brake systems in the automotive industry. In general, the demand for cars around the world has increased and we are not talking about normal cars here also luxury cars. Especially during the times of covid people want to buy a separate car for their family because traveling in public transport has proven to be quite risky. Although there is one thing that could be a hindrance to this sector that is environmental awareness. People don’t want to harm the environment and want cars that are environmentally friendly and companies are also focusing on smaller cars that are low on fuel consumption.
Global Ceramic Matrix Composites Market by Region Outlook (Revenue, USD Million, 2021-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
North America is the fastest-growing ceramic matrix composites market. Since it is already a developed country and air travel is quite rampant in the USA. Wind energy generation is also done on a large scale in the U.S. Asia Pacific is another potential market for ceramic matrix composites market since developing countries want to increase their air trade and are also looking to generate more and more power through wind energy. For the economically weaker nations of Africa wind energy sector is one of the best ways to generate energy in a very cost-efficient way.
The Global Ceramic Matrix Composites Industry Segmentation:
- Global Ceramic Matrix Composites Market by Matrix Type Outlook (Revenue, USD Million, 2021-2027)
- Global Ceramic Matrix Composites Market by End User Outlook (Revenue, USD Million, 2021-2027)
- Aerospace & Defense
- Energy & Power
- Based on the matrix type, the oxide/oxide segment held the largest market share in 2020
- Based on end user, automotive segment accounted for a market share of 26.4% in 2020 followed by aerospace & defense
- Based on regions, the North America region is anticipated to hold a market share of 37.1% in the year 2020 in the ceramic matrix composites market analysis
Company Profiles and Competitive Intelligence:
- General Electric Company
- SGL Carbon
- United Technologies
- COI Ceramics
- Lancer Systems
- Applied Thin Films
- CFC Carbon
- Shanghai Tunnel Engineering Company
- Fiber Materials, Inc.
- Axiom materials
- Ube Industries, ltd
- United Composites B.V.
- In March 2021, SGL Carbon received 42.9 million euros worth funding under IPCEI for graphite anode materials in lithium ion batteries: SGL Carbon one of the major dealers of graphite and carbon products, received a funding notification for the development and industrialization of innovative anode materials made of synthetic graphite for use in lithium-ion batteries. The funding program is part of the second European IPCEI (Important Project of Common European Interest) / EUBatIn (European Battery Innovation) program, which aims at a competitive European value chain for lithium-ion batteries based on innovative and sustainable technologies.
- In November 2019, Pratt & Whitney to Open New Facility Dedicated to Ceramic Matrix Composites: Pratt & Whitney, a global leader in commercial and military jet engines and a division of United Technologies Corp. today announced it will open a new ceramic matrix composites (CMCs) research & development (R&D) facility in Carlsbad, California.