Ceramic Matrix Composites Market worth $21.6 billion by 2028 - Exclusive Report by MarketsandMarkets™

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Jun 26, 2023, 06:00 ET

CHICAGO, June 26, 2023 /PRNewswire/ -- The report "Ceramic Matrix Composites Market by Matrix Type (C/C, C/Sic, Oxide/Oxide, Sic/Sic), Fiber Type (Continuous, Woven), End-use Industry (Aerospace and Defense, Automotive, Energy and Power, Industrial), and Region - Global Forecasts to 2028", is estimated at USD 11.9 billion in 2022 and is projected to reach USD 21.6 billion by 2028, at a CAGR of 10.5% from 2023 to 2028. Factors such as the superior properties of ceramic matrix composite materials like corrosion resistance, lightweight and high strength, durability, and improved performance are positively driving the growth of the ceramic matrix composites Market. Furthermore, the rising applications from emerging economies and the adoption of ceramic matrix composites will further propel the growth rate of the ceramic matrix composites market. The development of new technologies such as 3D printing, automation, and digital design tools is making producing ceramic matrix composites components easier and more cost-effective.

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Oxide/Oxide matrix type segment is expected to account for the largest market share in 2022.

In Ox/Ox ceramic matrix composites, the matrix material is typically a ceramic oxide, such as aluminum oxide (Al2O3) or zirconium oxide (ZrO2). These ceramic oxides provide excellent thermal stability, chemical resistance, and mechanical properties. They can withstand high temperatures and offer good oxidation resistance. Oxide/Oxide (Ox/Ox) is a matrix type used in ceramic matrix composites. Ox/Ox composites consist of a ceramic matrix reinforced with oxide fibers. This matrix type offers unique properties and advantages in various applications.

Woven fiber type segment held the second largest market share in the ceramic matrix composites market

Woven fiber type are a type of ceramic matrix composites, where the reinforcement fibers are woven together to form a fabric-like structure. The woven structure provides improved mechanical properties and allows for complex shapes and designs. The woven structure of Ceramic matrix composites provides improved mechanical properties compared to randomly oriented or discontinuous fiber composites. The interlocking nature of the woven fibers increases the strength, stiffness, and fracture toughness of the composite. Woven Ceramic matrix composites exhibit excellent tensile, compressive, and flexural strength, making them suitable for structural application.

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Asia Pacific is expected to account for the third largest share in 2022

The ceramic matrix composites market has been studied in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The Asia-Pacific ceramic matrix composites market is driven by the growing need for energy, which propels the need for ceramic matrix composites materials in automotive, aerospace and defence, and other industries. The Asia Pacific region is third largest markets for ceramic matrix composites globally, with China, India, and Japan being the major contributors to the market growth. The increasing demand for ceramic matrix composites in various industries such as automotive, and aerospace, is driving market growth in the region. Japan is the largest market for ceramic matrix composites in the Asia Pacific region, accounting for a significant market share.

Prominent companies include General Electric (US), Rolls-Royce PLC (UK), SGL Carbon (Germany), Raytheon Technologies Corporation (US), Axiom Materials Inc. (US), CoorsTek (US), Lancer Systems (US), COI Ceramics (US), Applied Thin Films (US), Ultramet (US), CFC Carbon co., ltd. (China), among others.

Browse Adjacent Market: Fibers and Composites Market Research Reports & Consulting

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