Enjoy complimentary customisation on priority with our Enterprise License!
The ceramic matrix composites (CMC) market size is forecast to increase by USD 3.23 billion, at a CAGR of 10.93% between 2023 and 2028. The market growth analysis hinges on multiple factors. First, the aerospace sector is witnessing a surge in innovations, buoyed by substantial government funding. This infusion of resources fosters groundbreaking developments, propelling the industry forward. Second, technological strides in manufacturing processes, particularly in Ceramic Matrix Composites (CMCs), are reshaping production dynamics. These advancements enhance efficiency, durability, and performance, driving market expansion. Third, a mounting global demand for energy-efficient systems underscores a pivotal trend. This shift towards sustainability fuels the adoption of eco-friendly solutions across various sectors, amplifying market opportunities. Collectively, these factors form a robust foundation for market growth, offering promising prospects for stakeholders. As industries embrace innovation, capitalize on technological progress, and respond to evolving consumer preferences, the market is expected for dynamic expansion, shaping the future of aerospace and related sectors. It also includes an in-depth analysis of drivers, trends, and challenges. Our market research and growth report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
Ceramic matrix composites (CMC) are advanced composite materials made of ceramic fibers embedded in a ceramic matrix, known for their excellent strength, high-temperature performance, and corrosion resistance. Ceramic matrix composites are designed to improve the toughness of conventional ceramics. For example, ceramic matrix composites are often used in the energy and aerospace industries (heat exchangers, structural re-entry thermal protection). These applications require a permanent or a temporary joint between CMC components and the materials around them.
To Know more about the market report Request Free Sample
The market is driven by diverse applications across various industries. Turbine blades, combustor liners, and nozzle vanes in aerospace and defense sectors utilize CMCs for their lightweight and high-temperature capabilities. In automotive, CMCs contribute to lightweighting and thermal management in brake systems and engine components. Moreover, the demand for CMCs is rising in consumer electronics, electric vehicles, and high-end sports equipment due to their superior performance. However, challenges such as high production costs and stringent environmental standards hinder market growth, necessitating ongoing innovation and cost-efficiency measures in CMC manufacturing prices and process. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for energy-efficient systems is notably driving the market growth. The increasing demand for energy-efficient systems in various industries, such as power generation, oil and gas, and chemical processing, has increased the demand for ceramic matrix composites. CMCs are used in high-temperature applications such as gas turbines and heat exchangers to improve efficiency and reduce emissions. Ceramic matrix composites such as gas turbines and heat exchangers are used in high-temperature applications to improve efficiency and reduce emissions. These materials can withstand extreme temperatures, making them ideal for use in energy-efficient systems.
Moreover, the use of CMC in these systems not only offers significant energy savings but also reduces carbon emissions. The use of ceramic matrix composites also helps reduce downtime and maintenance costs as these materials are extremely durable and resistant to wear and corrosion. This makes them ideal for energy-intensive industries where reliability and durability are key factors. Therefore, the rising demand for energy-efficient systems is expected to drive the market's growth during the forecast period.
The growing adoption in the automotive industry is a key trend influencing market growth. CMC is gaining increasing acceptance in the automotive industry due to its lightweight, high strength, and corrosion resistance. Using CMC helps reduce vehicle weight, thereby improving fuel efficiency and reducing emissions. Compared to traditional metal alloys, CMC has many advantages, including lightweight, high strength, and high-temperature resistance. These properties make CMC a desirable choice for automakers who want to reduce vehicle weight, improve fuel efficiency, and comply with environmental regulations.
Further, CMC is mainly used in high-performance automotive parts such as brake rotors, exhaust systems, and engine parts. The rising demand for electric and hybrid vehicles is another factor impacting the use of CMCs in the automotive industry. These vehicles require lightweight components to maximize range and battery life, and CMC offers manufacturers the preferred alternative. This is anticipated to drive the market's growth during the forecast period.
The lack of standardization of CMCs is challenging the Ceramic Matrix Composites Market growth. Currently, no industry standard exists for CMC, making it difficult for manufacturers and customers to compare and evaluate different products. This lack of standardization can also create uncertainty among customers who are unsure about CMC's quality and performance. Standardization refers to establishing industry-wide specifications, policies, and requirements for materials, products, and processes. For CMCs, lack of standardization means that there is no commonly agreed set of guidelines or specifications for manufacturing, testing, or performance of CMCs. This lack of standardization makes it difficult for manufacturers to compare and evaluate different products.
However, without standardized test methods and performance metrics, it is difficult to determine which CMC is best for a particular application. This may slow CMC adoption as potential customers may be hesitant to invest in materials of uncertain quality and performance. In industries that require consistent and predictable performance, such as aerospace and defense, the lack of CMC standards can create uncertainty about the long-term reliability of these materials. This uncertainty may deter the adoption of CMC, even though it may offer significant advantages over conventional materials. Therefore, a lack of standardization will hamper the growth of the market during the forecast period.
The market is propelled by diverse applications across various industries. Turbine blades, combustor liners, and nozzle vanes in aviation benefit from CMC's exceptional thermal protection and lightweighting properties, enhancing efficiency and durability. In the automotive sector, CMC finds utility in brake systems, engine components, and lightweight automobiles, contributing to fuel economy and performance, especially in electric vehicles. Additionally, CMCs are utilized in consumer electronics and portable electronics for their lightweight and durable characteristics. The military sectors and aerospace sectors leverage CMCs for applications in fighter planes and other defense systems, meeting stringent environmental standards while enhancing performance. This broad application spectrum underscores the versatility and growing importance of CMCs across industries.
The market share growth by the oxide segment will be significant during the forecast period. Oxides are advanced materials that combine ceramic materials with metal oxides, such as alumina (Al2O3) and zirconia (ZrO2). These materials are typically used in high-temperature applications requiring excellent mechanical and thermal properties such as aerospace, defense, and energy applications. Common types of oxides include alumina matrix composites (AMC), zirconia matrix composites (ZMC), and silicon carbide matrix composites (SiCMC). These materials have unique properties that make them ideal for different applications.
Get a glance at the market contribution of the End User segment Request Free Sample
The aerospace and defense segment was valued at USD 2.09 billion in 2018. With continued research and development, it is expected that oxide-based CMCs will find new applications in various industries such as aerospace, defense, energy, and transportation. Therefore, the oxide-based market segment is trending to grow in the market during the forecast period.
The market encompasses advanced materials formed by integrating ceramic components with metallic oxides, such as aluminum oxide or zirconium oxide. These materials are extensively utilized in aerospace and defense sectors for their exceptional mechanical and thermal properties. Notable applications include turbine blades, combustor liners, nozzle vanes, and thermal protection systems. CMCs offer benefits like lightweighting, increased durability, and resistance to high temperatures, making them suitable for brake systems, engine components, and exhaust systems in these industries. Additionally, CMCs find applications in consumer electronics, lightweight automobiles, electric vehicles, portable electronics, and high-end sports equipment. Geopolymer matrix, ceramic fibers, and various oxides contribute to the material's unique properties. In aerospace, CMCs are used in fighter planes to meet environmental standards and reduce weight, while carbon products are employed for their strength and heat resistance.
North America is estimated to contribute 48% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
For more insights on the market share of various regions Request Free Sample
North American region is an important market for CMCs due to the presence of several major players in the region and increasing demand for advanced materials in various end-use industries. The aerospace and defense sector is a key end-user industry for CMC in North America, as the materials offer significant weight savings and increased durability for aircraft parts. The region has also invested heavily in R&D activities to develop advanced CMCs with enhanced properties. Boeing and Airbus are also involved in their own internal research and development on the use of CMC in engine parts. The increasing adoption of CMC in various applications such as gas turbines, industrial furnaces, and automotive parts is expected to drive market growth in the region during the forecast period.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
applied thin films inc., Axiom Materials, CeramTec GmbH, CFC Carbon Co. Ltd., COIC, Compagnie de Saint Gobain, Composites United e V, CoorsTek Inc., General Electric Co., Kyocera Corp., LANCER SYSTEMS, Mitsubishi Chemical Group Corp., Rolls Royce Holdings Plc, Safran SA, SGL Carbon SE, Spirit AeroSystems Inc., Starfire Systems Inc., Ube Corp., Ultramet, YuCMC Co. Ltd., 3M Co., National Composites Centre, and TISICS
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
You may also want to get insights about:
Medical Composite Materials Market - Medical Composite Materials Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, UK, Germany, Japan - Size and Forecast
3D-printed Composite Materials Market - 3D-printed Composite Materials Market by Material, Type and Geography - Forecast and Analysis
Metal Matrix Composites (MMC) Market - Metal Matrix Composites (MMC) Market by Product, End-user, and Geography Forecast and Analysis
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is witnessing significant growth driven by diverse applications in various industries. Luxury and sports car manufacturers utilize CMCs in high temperature environments, enhancing performance and efficiency in engines. In the energy power segment, CMCs find application in gas turbine engines and power plants, contributing to improved operational efficiency and reduced emissions. Additionally, CMCs play a crucial role in renewable energy systems, offering high strength and thermal resistance. Continuous fiber types and woven materials variants are utilized in manufacturing, mitigating the risk of manufacturing defects. These advanced materials also find applications in portable electrical and electronic, military, and aerospace sectors, highlighting their versatility and growing significance in various industries.
Further, the market witnesses significant growth due to various factors such as the demand for materials capable of withstanding high temperatures. Diverse fiber type and material variants offer versatility in applications, including portable electronic and electrical components. The use of geopolymer matrix enhances structural integrity, while the incorporation of steel and iron, and other lightweight materials contributes to improved performance, particularly in the electric car industry. Initiatives like CFM RISE drive innovation in composite materials by market players like McKinsey and others, optimizing manufacturing processes to control production costs amid fluctuating currency values. Additionally, the utilization of mullite, ceramic fibers, and carbon products underscores the diverse applications and advantages of CMCs across industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.93% |
Market Growth 2024-2028 |
USD 3.23 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.34 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 48% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
applied thin films inc., Axiom Materials, CeramTec GmbH, CFC Carbon Co. Ltd., COIC, Compagnie de Saint Gobain, Composites United e V, CoorsTek Inc., General Electric Co., Kyocera Corp., LANCER SYSTEMS, Mitsubishi Chemical Group Corp., Rolls Royce Holdings Plc, Safran SA, SGL Carbon SE, Spirit AeroSystems Inc., Starfire Systems Inc., Ube Corp., Ultramet, YuCMC Co. Ltd., 3M Co., National Composites Centre, and TISICS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.