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Report Overview
The global ceramic matrix composites market size reached a value of nearly USD 5.40 Billion in 2023 and is further estimated to grow over the forecast period of 2024-2032 at a CAGR of 13.00%.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- As per industry reports, the global aerospace and defence industry witnessed revenues of over USD 700 billion in 2022.
- Specialty Materials, Inc., Applied Thin Films, Inc., CoorsTek, Inc., COI Ceramics, Inc., Ultramet, Inc. are a few of the major companies in the market.
- End use players such as Boeing, AirBus, Lockheed Martin are witnessing backlogs in deliveries which is expected to drive the demand from aerospace and defence sector with backlogs amounting to over USD 700 million.
Ceramic Matrix Composites Market Share
Continuous fibres are expected to hold significant ceramic matrix composites market share owing to improved properties offered by continuous fibres.
Continuous fibre type ceramic matrix composites (CMCs) are expected to witness the second-highest CAGR within the forecast period. This segment, categorised based on fibre type alongside short fibres and others, is witnessing significant advancements driven by ongoing research and development. Innovations focusing on materials like hafnium carbide (HfC), zirconium carbide (ZrC), and other ceramic composites are enhancing CMC properties for high-temperature applications. As a result, continuous fibre CMCs are projected to exhibit substantial growth from 2023 to 2028.
As per the ceramic matrix composites market analysis, successful applications of the ceramic matrix composite (CMC) include lightweight components in combustion environments, aerospace equipment like telescopes, heat treatment apparatus such as charging racks, and frictional components like brake disks and clutch linings. Short-fibre composites, composed of materials like non-oxide alumina and oxide alumina, are further reinforced with zirconium oxides, silicon carbide, titanium boride, and aluminium nitride to enhance the ceramic matrix.
Aerospace and defence sector is expected to hold significant ceramic matrix composites market share as diverse application and adoption of CMCs for manufacturing.
During the historical period, the aerospace and defence segment dominated the market, contributing significantly to global revenue. The demand in this segment is expected to be driven by consumer preference for manufacturing various aircraft components such as noses, rudders, fins, leading edges, body flaps, hot structures, tiles, and panels.
These composites, known for their excellent impact strength and high hardness, are ideal for producing bullet-proof armour and insulation in small arms weapons platforms. Additionally, ceramic materials are often transparent to certain types of energy, light, etc., making them valuable for applications like infrared domes, sensor protection, and multi-spectral windows.
The energy and power segment is projected to be the fastest-growing application area for CMC materials. Their properties, including high-temperature stability, oxidation resistance, and radiation tolerance, make them suitable for both fission and fusion applications.
CMCs find extensive use in the electronics industry as isolators and in electronic circuits due to their high thermal conductivity. Furthermore, their applications in ceramics for laser diodes, LEDs, artificial teeth, fuel cells, etc., are expected to further drive market growth.
Ceramic Matrix Composites Market Report Snapshots
Ceramic Matrix Composites Market Size
Ceramic Matrix Composites Market Trends
Ceramic Matrix Composites Market Share
Ceramic Matrix Composites Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global ceramic matrix composites market attained a value of nearly USD 5.40 Billion.
The market is projected to grow at a CAGR of 13.00% between 2024 and 2032.
The major drivers of the industry, such as rising demand for lightweight and high-performance materials, growing demand from aviation industry, rising energy demands, and growing customer preference are aiding the market growth.
The extensive use of the product in sectors such as defence and rising technological advancements are expected to aid the ceramic matrix composites market growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major composite types in the market include silicon carbide reinforced silicon carbide, carbon reinforced carbon, and oxide, among others.
Short fibre and continuous fibre are the significant fibre types of the product in the industry.
Alumina fibre, refractory ceramic fibres, and SiC fibre, among others are the major fibre materials in the industry.
Aerospace and defence, automotive, energy and power, electronics and electricals, among others, are the significant applications of the product in the industry.
The major players in the market are Specialty Materials, Inc., Applied Thin Films Inc., CeramTec GmbH, CoorsTek, Inc., Lancer Systems, Rolls-Royce plc, Ultramet, and COI Ceramics, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124