Ceramic matrix composites (CMCs) is defined as composite materials which consist of ceramic fibers entrenched in a ceramic matrix and forms a ceramic fiber-reinforced material. They are used in extreme conditions and are used in the production of various components such as aircraft engines such as combustor liners, nozzles, blade, and shrouds. Further, owing to the rapid growth of the aerospace industry in the emerging economies are driving the global ceramic matrix composite market.
Attributes | Details |
---|---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
CAGR | 9.3% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Ceramic Matrix Composites market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Electric Company (United States), 3M Company (United States), Rolls-Royce (United Kingdom), SGL Carbon (Germany), United Technologies (United States), COI Ceramics (United States), Lancer Systems (United States), CoorsTek (United States), Applied Thin Films (United States) and Safran Ceramics (France) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Ultramet (United States), CFC Carbon (China), Applied Thin Films (United States) and Kyocera Corporation (Japan).
AMA Research has segmented the market of Global Ceramic Matrix Composites market by Type (Oxide, Silicon Carbide, Carbon and Others ), Application (Aerospace, Defense, Energy & Power, Electrical & Electronics and Others) and Region.
On the basis of geography, the market of Ceramic Matrix Composites has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Fiber Type, the sub-segment i.e. Continuous or long fibers will boost the Ceramic Matrix Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Matrix Type, the sub-segment i.e. Oxide/Oxide will boost the Ceramic Matrix Composites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Growing Demand from the Aviation Industry, Proliferating Demand from End-User Industries and Make in India Initiatives, 100% FDI in automotive, and One Belt One Road Initiative for CMCs
Rise in Investments for Manufacturing of CMCs, Rapid Commercialization in Aerospace and Defense Industry, Advancement in Fabrication Processes and Increasing Consumer Preferences and Introduction of New Military Aircrafts
Issues Related to Reparability & Recyclability of CMCs
High-Cost Factor Associated with CMCs as Compare to Alloys and Other Metals
Increasing R&D Activities Supported By Developed Nations through Public-Private Partnerships and Joint Ventures
In March 2018, General Electric Company announced the opening of two new production sites. The company is investing USD 105 million to construct two ceramic matrix manufacturing plants in North Carolina, one in Asheville and one in West Jefferson. The composites manufactured at these production sites will be used to manufacture jet engines.
In April 2020 United Technologies merged with the Raytheon Company to form Raytheon Technologies. The combined company, valued at more than USD 100 billion after planned spinoffs, is the world's second-largest aerospace-and-defense company by sales behind Boeing. This boosted the manufacturing and sales of the CMC products.
Ceramic Matrix Composites Manufacturers, Industry Associations, Potential Investors, Marketing & Consulting Firms, Government and Regulatory Bodies and Others
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.
Key Highlights of Report
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