USD 4.1 billion
Ceramic Matrix Composites Market Size, Share, Growth Analysis, By Material(Oxide-based CMC and Non-Oxide-based CMC), By End-User(Aerospace and Defense and Energy and Power), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2036 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
59
|Figures:
75
Ceramic Matrix Composites Market Insights
Global Ceramic Matrix Composites Market size was valued at USD 4.1 billion in 2022 and is poised to grow from USD 4.62 billion in 2023 to USD 12.03 billion by 2031, growing at a CAGR of 12.7% during the forecast period (2024-2031).
The global market for ceramic matrix composite (CMC) is expected to witness significant growth due to their high-temperature stability, reduced weight, and high strength. These advantageous properties are likely to drive the demand for CMCs. However, the Ceramic Matrix Composites Market growth is hindered by the high cost of ceramic fibers, as they are produced in small quantities compared to carbon fibers, which are used in most metal and polymer composites and benefit from mass production cost advantages. Various industries, including electronics, thermal management, and high-end sports equipment, are adopting Ceramic Matrix Composite to enhance performance, provide greater comfort, and build sturdy structures. The forecast period predicts that ceramic matrix composites will replace traditional alloys and other metal components, as they can operate with minimal or no cooling due to their exceptional heat resistance properties. This is particularly relevant in the aviation industry, which is expected to drive the demand for CMCs.
The United States, being a leading military force and a significant consumer of CMCs, plays a vital role in the market. Moreover, the US Department of Energy's exploration of CMC cladding for fuel rods in light-water nuclear reactors is anticipated to boost CMC demand in the energy and power industry. In North America, the ceramic matrix composite market is expected to grow as key industry players invest in research and development, expand manufacturing capacities, and broaden their product ranges. The demand for silicon carbide fiber reinforced silicon carbide matrix composites (SIC/SIC) has increased due to the rising production and sales of aerospace and defense equipment, particularly fighter planes from the US to emerging countries. Additionally, the implementation of stringent environmental standards emphasizing lightweight and fuel-efficient materials is expected to drive market growth.
Growing investments in the military and aerospace sectors in the region are also contributing to the expansion of the ceramic matrix composites market. As a result of these developments, North America is projected to dominate the market during the forecast period. Despite global disruptions, major players in the Ceramic Matrix Composites industry have maintained their production sites while implementing preventive measures such as social isolation, remote working, and travel restrictions. Countries have also eased limitations on the supply of ceramic matrix composites, allowing for more stable market conditions. To mitigate supply chain risks and ensure uninterrupted operations and product availability, companies must adapt and adjust to the ever-changing global environment.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Oxide-based CMC
Fastest Growth
Non-Oxide-based CMC
Growth Rate
12.7% CAGR
Global Ceramic Matrix Composites Market ($ Bn)
Country Share for North America Region (%)
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Ceramic Matrix Composites Market Segmental Analysis
Global Ceramic Matrix Composites Market is segmented by material, End-User, and region. Based on material, the market can be segmented into oxide-based CMC, and non-oxide-based CMC. Based on End-User, the market is segmented into aerospace and defense, and energy and power. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Ceramic Matrix Composites Market Analysis by Material
By material, the market can be segmented into oxide-based CMC and non-oxide-based CMC. Oxide-based CMC dominated the global market. This dominance can be attributed to their well-established manufacturing processes, relatively lower cost compared to non-oxide-based CMC, and a wide range of applications. The development of advanced oxide ceramics, such as zirconium oxide, with enhanced properties is expected to further fuel the growth of this segment.
Non-oxide-based CMCs are experiencing rapid growth, driven by their increasing adoption in aerospace, defense, and energy sectors, where there is a growing demand for high-performance ceramic matrix composite materials that can withstand extreme operating conditions. The development of advanced non-oxide ceramics, such as silicon carbide and silicon nitride, is expected to contribute to the accelerated growth of this segment. Furthermore, the expansion of automotive and industrial applications, where non-oxide-based CMCs offer improved performance and fuel efficiency, is also propelling their growth.
Ceramic Matrix Composites Market Analysis by End-User
By End-User, the market can be segmented into aerospace and defense, and energy and power. The aerospace and defense sector dominated the ceramic matrix composites market. This dominance is driven by the unique properties of CMCs, such as high-temperature resistance, lightweight characteristics, and exceptional mechanical strength, which are highly valued in the manufacturing of aircraft engines, rocket nozzles, thermal protection systems, and other high-performance components.
The energy and power segment is witnessing rapid growth due to increasing global energy demands, the shift towards renewable energy sources, and the need for more efficient power generation systems. CMCs are gaining traction in this sector due to their ability to withstand extreme temperatures, improve efficiency, reduce emissions, and enhance overall performance. The ongoing research and development efforts to optimize CMCs for energy-related applications are expected to drive the growth of this segment.
Global Ceramic Matrix Composites Market Size By Material
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Ceramic Matrix Composites Market Regional Insights
North America dominated the global ceramic matrix composites (CMCs) market during the forecast period. The region is a major consumer of CMCs, driven by its status as a leading military force and its significant investments in the aerospace industry. The US Department of Energy's exploration of CMC cladding for fuel rods in light-water nuclear reactors is projected to further boost CMC demand in the energy and power sector. Key industry players in North America are actively investing in research and development, expanding their manufacturing capacities, and diversifying their product ranges, which contributes to the region's dominance in the market.
APAC is anticipated to be the fastest-growing region in the ceramic matrix composites market. The region is witnessing rapid industrialization, particularly in emerging economies such as China, India, and South Korea. These countries are making substantial investments in their military and aerospace sectors, which is driving the demand for CMCs. The increasing manufacturing and sale of aerospace and defense equipment, including fighter planes, is particularly boosting the demand for silicon carbide fiber reinforced silicon carbide matrix composites (SIC/SIC) in the region. Additionally, APAC is home to several leading electronics manufacturers, and the adoption of CMCs in the electronics industry for improved performance and thermal management further contributes to the region's growth.
Global Ceramic Matrix Composites Market By Region
- Largest
- Fastest
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Ceramic Matrix Composites Market Dynamics
Ceramic Matrix Composites Market Drivers
Increasing demand from the aviation industry
- One significant driver of the global ceramic matrix composites (CMCs) market is the increasing demand from the aviation industry. CMCs offer high heat resistance properties, allowing them to function with minimal or no cooling requirements. This feature makes them ideal for aerospace applications, where liat-resistant materials ghtweight and heare crucial for improved performance and fuel efficiency. As the aviation industry continues to expand and seek advanced materials, the demand for CMCs is expected to grow, driving market growth in the coming years.
Ceramic Matrix Composites Market Restraints
High cost of ceramic fibers
- The high cost of ceramic fibers is a major restraint in the global ceramic matrix composites (CMCs) market. Unlike carbon fibers, which are produced in bulk and benefit from cost advantages of mass production, other ceramic fibers are produced in small quantities, resulting in higher costs. This cost disparity limits the widespread adoption of CMCs, particularly in price-sensitive industries. The high cost of ceramic fibers hampers the overall market growth, making it challenging for CMCs to compete with alternative materials that offer similar properties at lower costs.
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Ceramic Matrix Composites Market Competitive Landscape
The global ceramic matrix composites (CMCs) market is characterized by intense competition among various companies. These companies are focusing on research and development activities to enhance their product offerings and gain a competitive edge. Additionally, they are expanding their manufacturing capacities and forming strategic partnerships to strengthen their market position. Furthermore, companies are investing in technological advancements and innovations to meet the increasing demand for CMCs across multiple industries. The competitive landscape is dynamic, with companies striving to differentiate themselves through product quality, performance, and cost-effectiveness.
Ceramic Matrix Composites Market Top Player’s Company Profiles
- CoorsTek, Inc. (US)
- CeramTec GmbH (Germany)
- Lancer Systems LP (US)
- United Technologies Corporation (US)
- 3M Company (US)
- Kyocera Corporation (Japan)
- Saint-Gobain S.A. (France)
- Ube Industries, Ltd. (Japan)
- COI Ceramics, Inc. (US)
- SGL Carbon SE (Germany)
- Renegade Materials Corporation (US)
- Toray Industries, Inc. (Japan)
- GKN Aerospace (UK)
- General Atomics (US)
- CMC Materials, Inc. (US)
- Lancer Systems LP (US)
- Hexcel Corporation (US)
Ceramic Matrix Composites Market Recent Developments
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In September 2023, IWC launched two special edition big pilot’s watches inspired by the G-class. This comes in two 46.5mm versions clad in unusual cases, one crafted from 18-carat Armor Gold, the other with a ceramic matrix composite (CMC) case that highlight the Swiss tradition manufacture’s prowess in engineering.
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In August 2023, Lucideon (Staffordshire, U.K.) and the National Composites Centre (NCC, Bristol, U.K.) forged a closer collaboration to develop advanced ceramic composites solutions to meet a growing market demand for materials that survive in harsh environments.
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In June 2023, Hypersonic vehicle developer Hypersonix Launch Systems and the Sovereign Manufacturing Automation for Composites Cooperative Research Centre (SoMAC CRC) joined forces to tackle one of the big issues facing hypersonic flight – high temperature material integration. In partnership with The University of Queensland (UQ), the partners plan to develop the next generation of high temperature ceramic matrix composites (CMCs) tailored to hypersonic flight applications.
Ceramic Matrix Composites Key Market Trends
- One key trend in the global ceramic matrix composites (CMCs) market is the increasing focus on sustainable and eco-friendly materials. As environmental concerns grow, industries are seeking lightweight and fuel-efficient alternatives to traditional materials. CMCs offer excellent heat resistance properties, reduced weight, and improved performance, making them attractive for sustainable applications. Manufacturers are investing in the development of CMCs derived from renewable sources and employing eco-friendly production processes. This trend aligns with the growing demand for environmentally conscious solutions and is expected to drive the adoption of CMCs in various industries in the coming years.
- Gas turbines frequently use SiC/SiC ceramic matrix composites as key replacements for metallic alloys. Because of its remarkable oxidation and radiation resistance qualities, SiC/SiC ceramic matrix composite have seen an increase in use in the energy and power sector in recent years. To give one example, 33 wind farms, including these two enormous projects, are being developed in South Africa at various phases. In total, there are more than 1,365 wind turbine generators throughout the nation, with a total installed capacity of 3,672 MW, of which 2,020 MW is now in use. Additionally, because of the nation's COVID-19 lockdown, the project started in March 2020 and the Northern Cape wind farm's work was halted and accelerated.
Ceramic Matrix Composites Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our ceramic matrix composites (CMCs) market analysis, the market is experiencing significant growth driven by factors such as high-temperature stability, reduced weight, and high strength. However, the high cost of ceramic fibers poses a challenge to market expansion. CMCs find application in industries like electronics, thermal management, and aerospace due to their improved performance and heat resistance properties. North America dominated the market with its strong military force and investments in R&D, while the Asia-Pacific region emerges as the fastest-growing market due to industrialization, aerospace manufacturing, and environmental standards. The market is characterized by intense competition, technological advancements, and a growing emphasis on sustainable materials.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.1 billion |
| Market size value in 2031 | USD 12.03 billion |
| Growth Rate | 12.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ceramic Matrix Composites Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ceramic Matrix Composites Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ceramic Matrix Composites Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ceramic Matrix Composites Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ceramic Matrix Composites Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ceramic Matrix Composites Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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