Ceramic Matrix Composites Market Size & Share, by Type [Silicon Carbide Reinforced Silicon Carbide (SIC/SIC); Carbon Reinforced Carbon (C/C); Oxide-Oxide (OX/OX); Silicon Carbide & Carbon (SIC/C)]; End-user (Defense & Aerospace, Automotive, Energy & Power, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5135
  • Published Date: Aug 09, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Ceramic Matrix Composites Market size is poised to cross USD 25 billion by the end of 2035, growing at a CAGR of approximately 11% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of ceramic matric composites was USD 12 billion. The growth of the sector could be dominated by the growing demand for power generation which is further estimated to be satisfied by wind energy. Wind energy all around the globe generated electricity of about 2099 TWh which is an increase of approximately 13% in the year 2022. Ceramic matrix composites are extensively used in the making of wind turbines. Hence, with the growing demand for wind energy, the market is also estimated to boost.

Additionally, there has been growth in carbon footprint all across the globe which is why governments of different nations are putting emphasis on renewable technology such as wind energy. Hence, they are investing heavily in building wind turbine projects further influencing the market expansion for ceramic matrix composites.


Ceramic Matrix Composites Market
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Ceramic Matrix Composites Sector: Growth Drivers and Challenges

Growth Drivers

  • Surge in Demand for Automotive 

In 2022, approximately 66 million automobiles were sold worldwide up from 2021 when the sale was about 65 million units. The application for CMC in automotive sector is growing since they offer benefits including weight reduction and improvement in performance. Various automotive components such as brake discs and engine components consist of ceramic matrix composites.

  • Rise in the Use of Ceramic Matrix Composites in the Medical Sector  

There has been growing research on the use of ceramic matrix composites in medical instruments such as medical implants, prosthetics, and other devices. The major factors for its growing preference are its biocompatibility and good resistance to bodily conditions.

  • Growing Space Exploration Activities   

Between 2017 and 2021, the total number of small satellite launches rose from about 52 to approximately 1,742, representing almost 93 percent of all spacecraft launches. Hence, the market for ceramic matric composite is also slated to rise as this composite provides a heat shield to the spacecraft.

Challenges

  • High Cost of Ceramic Matrix Composites - Compared to other metals and alloys that were previously utilized for comparable applications, ceramic matrix composites are priced higher. Ceramic matrix composite pricing is heavily influenced by the cost of ceramic fibers. High manufacturing costs for ceramic fibers for advanced composites are a barrier to their commercialization. Unless there is a big technological advancement, manufacturers anticipate entering the market as a high-risk investment which makes them more likely to lose revenue than gain profits.
  • Growing Competition from Alternative Composite
  • Stringent Government Regulation 

Ceramic Matrix Composites Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~11%

Base Year Market Size (2022)

~ USD 12 Billion

Forecast Year Market Size (2035)

~ USD 25 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Ceramic Matric Composites Segmentation

End-Use (Defense & Aerospace, Automotive, Energy & Power, Industrial)

The defense & aerospace segment in the ceramic matrix composites market is poised to grow at a share of 60% over the forecast period. Ceramic matrix composites (CMCs) are one of the fastest-growing developments in the worldwide aviation business, and they have grown more prevalent in the aerospace industry. Aerospace applications including propulsion, hot primary structures, exhaust, and thermal protection can benefit from CMC materials. Engine valves, turbines, and turbochargers are merely some of the components in aircraft technology that utilize CMCs.

Type [Carbon Reinforced Carbon (C/C), Silicon Carbide Reinforced Silicon Carbide (SIC/SIC), Oxide-Oxide (OX/OX), Silicon Carbide & Carbon (SIC/C)]

The silicon carbide reinforced silicon carbide (SIC/SIC) segment is set to generate a share of 50% by the end of 2035. SiC/SiC matrix composites are a form of ceramic matrix composite (CMC) which has gained prominence given their high-temperature material for usage in applications such as gas turbines as a replacement for metallic alloys. The SiC/SiC CMC can be adjusted to individual conditions by choosing the optimal fiber, fiber coating, fiber architecture, and matrix materials and methods. In recent years, the use of SiC/SiC ceramic matrix composites in the energy and power industries has expanded due to their remarkable oxidation and radiation resistance qualities.  

Our in-depth analysis of the global market includes the following segments:

         Type

  • Silicon Carbide Reinforced Silicon Carbide (SIC/SIC)
  • Carbon Reinforced Carbon (C/C)
  • Oxide-Oxide (OX/OX)
  • Silicon Carbide & Carbon (SIC/C)

        End-Use

  • Defense & Aerospace
  • Automotive
  • Energy & Power
  • Industrial

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Ceramic Matrix Composites Industry- Regional Synopsis

North American Market Forecast

The ceramic matrix composites market in North America is poised to garner the share of about 40% over the forecast period. Some of the key elements anticipated to drive the CMC demand in North America include the presence of significant aviation sectors, their investments in the development of ceramic matrix components to produce aviation components, and their partnerships with government agencies for upgrading defense equipment.

APAC Market Analysis

The Asia Pacific ceramic matrix composites market is set to have the significant growth over the forecast period. Rapid urbanization and rising population have spurred construction activity throughout Asia Pacific, which is expected to further fuel product demand. Additionally, it is projected that increased disposable income, particularly in developing nations including China and India, will fuel industry expansion during the forecast period.

Research Nester
Ceramic Matrix Composites Market Size
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Companies Dominating the Ceramic Matrix Composites Landscape

top-features-companies
    • General Electric
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Siemens Energy
    • Rolls-Royce
    • Pratt & Whitney
    • BASF SE
    • Hexcel Corporation
    • CoorsTek Inc.
    • CeramTec GmbH
    • SGL Carbon
    • Saint-Gobain

In-the-news

In The News

  • As part of the Adaptive Engine Transition Programme (AETP) of the U.S. Air Force, General Electric completed phase 1 testing on its second XA100 adaptive cycle engine. Phase 1 testing was carried out at GE's Evendale, Ohio, altitude test facility and permitted GE to continue obtaining excellent performance data verifying the engine's capacity for revolutionary propulsion. In the first quarter of 2022, phase 2 tests were scheduled to start at the U.S. Air Force's advanced testing facilities at Arnold Engineering Development Complex (AEDC).
  • In Carlsbad, California, a ceramic matrix composites (CMCs) engineering and development center has opened, according to Pratt & Whitney, a division of Raytheon Technologies Corp.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5135
  • Published Date: Aug 09, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are a surge in demand for automotive, a rise in the use of ceramic matrix composites in the medical sector, and growing space exploration activities.

The market size of ceramic matrix composites is anticipated to attain a CAGR of 11% over the forecast period, i.e., 2023 – 2035.

The major players in the market are General Electric, Siemens Energy, Rolls-Royce, Pratt & Whitney, and others.

The defense & aerospace segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ceramic Matrix Composites Market Report Scope
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