What Has Driven the Growth of the Ceramic Matrix Composites Market in Recent Years?
The ceramic matrix composites market has seen considerable growth due to a variety of factors.
• In the past few years, the size of the ceramic matrix composites market has expanded swiftly. With a compound annual growth rate (CAGR) of 10.1%, it is projected to increase from $7.63 billion in 2024 to $8.4 billion in 2025. The historical growth of this market can be credited to factors such as rising demand for consumer electronics, robust economic expansion in emerging markets, an uptick in disposable income, and a surge in the demand for air travel.
What Is the Forecasted Market Size and Growth Rate for The Ceramic Matrix Composites Market?
The ceramic matrix composites market is expected to maintain its strong growth trajectory in upcoming years.
• The market for ceramic matrix composites is projected to experience significant expansion in the coming years, reaching a market worth of $13.35 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.3%.
This projected growth during the forecast period is due to factors such as the skyrocketing demand for lightweight vehicles, heightened interest in electric vehicle options, increased consumption of ceramic matrix composites in portable electronic devices, and a surge in demand within the medical industry. Key trends expected during the forecast period encompass a spotlight on technological progression, emphasis on partnerships and collaborations, the rise of 3D printing technology, the drive towards innovative solutions, a focus on research and development activities and a concentration on the production of geopolymer matrix composites.
What Key Factors and Trends are Driving the Growth of the Ceramic Matrix Composites Market?
The global ceramic matrix composites market is expanding due to the rising demand for lightweight cars. The shift towards lightweight electric vehicles among automakers has amplified the need for lightweight composite materials, replacing the traditionally used heavier steel and iron parts in vehicles. For example, CEIC Data, a China-based data and analytics company, reported in February 2023 that motor vehicle production in the United States had grown to 10.61 million units, up from 10.05 million units in December 2022. This constitutes a year-over-year increase of approximately 5.56% in vehicle production. Consequently, the upsurge in demand for lightweight cars will propel the ceramic matrix composites market.
What Key Areas Define The Segmentation Of The Global Ceramic Matrix Composites Market?
The ceramic matrix composites market covered in this report is segmented –
1) By Type: Oxide, Carbon/Silicon Carbide, Carbon, Silicon Carbide
2) By Category: Short Fiber, Long Continuous Fiber, Whiskers
3) By Production Method: Powder Dispersion, Reactive Melt Infiltration, Polymer Impregnation And Pyrolysis, Gaseous Infiltration, Chemical Vapor Infiltration, Sol-Gel, Other Production Methods
4) By End-Use Industry: Aerospace And Defense, Automotive, Energy And Power, Electricals And Electronics, Other End-Use Industries
Subsegments:
1) By Oxide: Alumina/Alumina Composites, Zirconia/Zirconia Composites
2) By Carbon/Silicon Carbide: Carbon Fiber-Reinforced Silicon Carbide (C/SiC), Silicon Carbide Matrix Composites
3) By Carbon: Carbon Fiber-Reinforced Carbon Composites (C/C), Pitch-Based Carbon Composites
4) By Silicon Carbide: SiC Fiber-Reinforced SiC Composites, SiC Matrix Composites
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How Are Emerging Trends Reshaping The Dynamics Of The Ceramic Matrix Composites Market?
Prominent firms working in the ceramic matrix composites market are progressively implementing advanced technologies like carbon fiber-reinforced ceramic matrix composites. This strategic approach offers a competitive advantage by introducing light yet sturdy materials suitable for high-performance operations. These carbon fiber-reinforced ceramic matrix composites (C/C CMCs) merge the high-strength, lightweight features of carbon fibers and the high-temperature endurance and robustness of ceramic matrices. This makes them perfectly suited for high-demand applications across aerospace, defense, and industrial domains. For example, in August 2024, Arceon, a tech company based in the Netherlands, introduced Carbeon C/C-SiC ceramic matrix composites for high-performance aerospace, defense, and industrial uses. Specially designed for harsh environments, these superior materials are used in rocket nozzles and International Space Station (ISS) components. The Carbeon composite materials are tailored to resist intense temperatures, radiation, and vacuums, making them the perfect fit for future aerospace tasks.
Who Are the Key Players in the Ceramic Matrix Composites Market?
Major companies operating in the ceramic matrix composites market include:
• 3M Company
• General Electric Company
• CeramTec GmbH
• Coorstek. Inc.
• Kyocera Corporation
• Ube Industries Ltd
• SGL Carbon Company
• Rolls-Royce plc
• Applied Thin Films Inc
• Ultramet
• CFC Carbon Co. Ltd
• Karbon composites & Technology Co Ltd
• Neo Carbon Fiber
• China Composites Group Corp Ltd
• DJT Carbon Co Ltd
• ZhongAo Carbon
• Tasuns Composite Technology
• Zhejiang Xinchor Technology Co Ltd
• HangFung Technology
• Sichuan Chang Yang Composites Company Limited
• ShenZhen RuiTai Carbon
• Dongguan Roche Industrial Co. Ltd
• Safran
• Cemacon
• Ceramica S.A
• COI Ceramics
• Axiom Materials Inc.
• Raytheon Technologies
• Lancer Systems
• United Technologies
What Is The Most Dominant Region In The Ceramic Matrix Composites Market?
North America will be the largest region in the ceramic matrix composites market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the ceramic matrix composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
