Ceramic Matrix Composites Market Size, CMC Sector / Industry Report & Analysis, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Ceramic Matrix Composites Market


The global Ceramic Matrix Composites market size is projected to reach US$ 8.68 billion by 2026, from US$ 4.19 billion in 2020, at a CAGR of 12.9% during 2021-2026. owing to the high-temperature stability, exceptional mechanical properties, and vast scope of applications offered by Ceramic Matrix Composites (CMC). Growing demand, especially from defense applications such as, sensor protection, infrared domes, and multi-spectral windows are projected to spur the growth.

The production process of CMC consumes significant amount of energy which ultimately increases cost of the final product, thus, making it useful only in high-end applications such as defense, aerospace, and thermal management among others. The market growth has been significantly influenced by the high cost of ceramic fibers.

Unlike carbon fibers which are used in most of the composites and, thus are produced in bulk quantities; ceramic fibers are produced in small quantities thus refraining them from the cost benefits associated with mass production. However, technological developments in metal mining and joining technology is expected to lower the overall development cost of ceramic matrix materials in near future.

Factors such as, rapid changes in technology, rising customer preference, and intense competition prevailing in the market encourage companies to undertake R&D as well as technological advancements to maintain their market share. Moreover, there has been increasing utilization of CMC for improved performance, sturdy structures, and higher comfort in applications such as thermal management, electronics, and high-end sports equipment.

Properties such as high heat resistance of ceramic matrix composites allow them to function with little or no cooling. Such factors are projected to assist the substitution of metal components and conventional alloys by CMC, which in turn is anticipated to bode well for market growth. Moreover, growing demand from aviation industry is expected to propel the demand. Several global companies are investing in the developing countries to cater to the growing need for these composites from various application industries.

CMC production is an energy-intensive process; hence technology providers are marking efforts to develop more energy efficient production processes to lower the overall cost. Moreover, these R&D activities are being supported by developed nations through public-private partnerships and joint ventures.

A classic example of such collaboration is The Continuous Lower Energy, Emissions, and Noise program (CLEEN), implemented by the Federal Aviation Administration (FAA) in partnership with five aviation manufacturers, namely, Boeing, Rolls-Royce, Honeywell, Pratt & Whitney, and General Electric (GE). The CLEEN initiative focusses on development of technologies to reduce fuel burn, emissions, and noise in aircraft.

Market Segmentation, Outlook & Viewpoint: Global Ceramic Matrix Composites Market

Product Market Segmentation & Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  
Oxide
  
Silicon Carbide (SiC)
  
Carbon
  
Others

Application Market Segmentation & Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  
Aerospace
  
Defense
  
Energy & Power
  
Electrical & Electronics
  
Others

Key Players, Recent Developments & Regional Insights: Global Ceramic Matrix Composites Market

Silicon carbide ceramic matrix composites (SiC) emerged as the largest product segment in terms of demand and accounted for 35.24% of market share by volume in 2018. The segment is expected grow significantly over the next seven years owing to the growing demand from aerospace applications.

Oxide matrix composites is expected to be the fastest growing product segment over the forecast period. Improved properties of oxide composites such as no oxidation and high fracturing toughness in addition to the less expensive production process are expected to trigger its demand in aerospace, defense, and energy and power applications.
Growth in carbon ceramic composites segment can be attributed to the increasing product demand in braking components of the aircrafts and luxury vehicles. Its unique properties such as low weight, high friction, temperature resistance, fracture toughness, and temperature resistance are anticipated to further contribute to the market growth.

Application Insights

Aerospace was the largest application segment accounting for 36.32% of total market share by volume in 2018. CMC, owing to excellent properties such as high-temperature stability, excellent thermal shock resistance, dynamic load resistance, greater flexibility, is suitable for manufacturing aircraft components. Increasing R&D activities and expansion of production facilities by major market players are likely to foster growth of the ceramic matrix composites market. CMCs are widely used for manufacturing aircraft components such as nose cap, rudder, fins, exhaust nozzles, leading edges, body flaps, gas turbine engines, panels, and other engine components.

Defense application segment is anticipated to expand at a CAGR of 14.3% in terms of volume over the forecast period. The light weight and good abrasion properties are some of the major factors expected to propel the product demand from defense application. Increasing application scope of these composites in various sectors such as energy and power, electrical and electronics, industrial applications, and marine is creating supportive growth potential for the market.

Regional Insights

Asia Pacific is anticipated to emerge as the fastest growing region for ceramic matrix composites and is likely to expand at the highest CAGR of 14.7% by volume over the forecast period. Technological developments in aerospace industry and rising energy demands are the major factors contributing to the growth. The region comprising of emerging economies, such as China, India, Malaysia, and Thailand, has a competitive advantage on account of the presence of low-cost raw materials and labor.

Moreover, Make in India Initiative, 100% FDI in automotive, and One Belt One Road Initiative are appealing major players to establish their production as well as distribution facilities in Asia Pacific. Energy and power segment is anticipated to witness the highest CAGR over the next seven years. Excess consumption of oil in Asia Pacific has encouraged the need for energy security with a focus on deriving energy from alternative sources which include natural gas. Ceramic matrix composites are thus likely to play a significant role in this segment.

North America held the largest market share of 44.78% by volume in 2018. Presence of major aviation companies, their investments in R&D for developing ceramic matrix components as well as collaborations with government organizations for upgrading the defense equipment are some of the major factors contributing to the regional market growth.

Ceramic Matrix Composites Market Share Insights

CMC manufactures play an important role in product development based on customer requirements. Major CMC manufacturers have invested in R&D to expand the applicability of the material. Most companies have integrated throughout the value chain. These companies have technological advantage over other players as the cost of the product and the product properties largely depend on the raw material and the production technology used for manufacturing CMCs.

Some of the key companies in the market include General Electric Company; UBE Industries, Ltd; Coorstek, Inc.; and COI Ceramics, Inc. among others. Also, several multinational companies have invested in developing regions to fulfil the increasing demand from various applications. For instance, GE Aviation is expected to invest in the development of CMCs for manufacturing aircraft engines.

Majority of manufacturers focus on the production of CMC as per the customer requirements based on the desired geometry, complexity of shape, and production volume of the component. Key market players have their own patented technology whereas few other players borrow patented technologies. For example, NASA is developing geared turbofan engine having ultra-high bypass ratio by using technology developed by Pratt & Whitney.

Key Insights Covered: Global Ceramic Matrix Composites Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Ceramic Matrix Composites industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Ceramic Matrix Composites industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Ceramic Matrix Composites industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Ceramic Matrix Composites industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Ceramic Matrix Composites industry.

Research Methodology: Global Ceramic Matrix Composites Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other