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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 Trends
The automotive industry's global expansion drives market optimism for Ceramic Matrix Composites (CMCs), favoured for their strength and heat tolerance. Aerospace sectors also embrace CMCs for diverse applications, from engine components to body panels. Innovations in nanoscience escalates ceramic matrix composites market development through enhanced properties, while their high thermal conductivity spurs adoption in electronic circuits. Additionally, CMCs find utility in LED, laser diodes, and fuel cells, further boosting market growth. Their role extends to manufacturing bullet-proof armour and insulation, diversifying applications, and market prospects.
Robust research and development efforts, along with the widespread use of ceramic matrix composites (CMCs) in high-speed mechanical components and power transmission lines, support market growth. Increased demand for SIC/SIC, driven by aerospace and defence equipment manufacturing, particularly in the U.S. and emerging markets, further fuels ceramic matrix composites market expansion. Stringent environmental standards promoting lightweight and fuel-efficient materials also contribute. Major players maintain production amid pandemic challenges, adapting to ensure supply chain resilience and product availability in a dynamic global environment.
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