Ceramic Matrix Composites (CMC) Market by Application and Geography - Forecast and Analysis 2021-2025

The ceramic matrix composites (CMC) market is projected to grow by USD 1.97 billion with a CAGR of 9%, during the forecast period 2020 to 2025.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (aerospace and defense, automotive, power and energy, and others) and geography (North America, Europe, APAC, MEA, and South America).

The ceramic matrix composites (CMC) market report also offers information on several market vendors, including Applied Thin Films Inc., CeramTec TopCo GmbH, COI Ceramics Inc., CoorsTek Inc., Lancer Systems LP, Rolls-Royce Plc, SGL Carbon SE, Spirit AeroSystems Holdings Inc., SST Technology, and Starfire Systems Inc. among others.

Applied Thin Films Inc. - As the key product, the company offers Cerablak CMCs which represent a new advancement in the field of ceramic matrix composites. The unified segment offers the company offers various chemically engineered products such as high-temperature thins, sealants, and others.

What will the Ceramic Matrix Composites (CMC) Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global ceramic matrix composites market as a part of the global chemicals market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ceramic matrix composites (CMC) market during the forecast period.

Ceramic Matrix Composites (CMC) Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 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.

Key Ceramic Matrix Composites (CMC) Market Driver

• One of the key factors driving growth in the ceramic matrix composites (CMC) market is the increase in demand for ceramic matrix composites from APAC countries.
• Countries such as China, Singapore, India, and Thailand are increasingly adopting fuel-efficient ceramic matrix composite-based aircraft engines.
• Improved standard of living, liberalization, open market and industrialization are some of the major factors contributing to the growth of trade and commerce in these countries.
• The emergence of India and China as major manufacturing hubs in APAC will lead to an increase in tourist inflows and cargo from APAC.
• The huge consumer base in China is fueling the need for new aircraft with improved efficiency. The use of ceramic matrix composite engines helps in improving fuel efficiency, thereby reducing the operational cost of aircraft.

Key Ceramic Matrix Composites (CMC) Market Challenge

• The stringent regulations in various applications will be a major challenge for the ceramic matrix composites (CMC) market during the forecast period.
• Various regulations are implemented in the selection of materials, which are used in the production of aircraft components, to ensure the safety of passengers.
• The European Aviation Safety Agency (EASA) and Federal Aviation Administration (FAA) provide regulations and guidelines on the use of materials in the aviation industry. 
• The Food and Drug Administration (FDA) provides guidelines on medical devices under the Federal Food Drug & Cosmetic Act (FD&C Act) in the US. 
• The stringent regulations and policies for the approval of ceramic matrix composites in various applications are expected to hinder market growth. 

This ceramic matrix composites (CMC) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Ceramic Matrix Composites (CMC) Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the ceramic matrix composites (CMC) market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Ceramic Matrix Composites (CMC) Market?

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51% of the market’s growth will originate from North America during the forecast period. The US is the key market for ceramic matrix composites (CMC) in North America. Market growth in this region will be faster than the growth of the market in other regions.

The US and Canada are contributing to the growing demand for ceramic matrix composites in the region. From the manufacturing perspective, North America accounted for almost one-fourth of the global aerospace components production in 2020. Commercial aircraft manufacturing companies in the region such as Boeing and Bombardier have started using ceramic matrix composites in their new engines to improve the efficiency of the aircraft. This will facilitate the ceramic matrix composites (CMC) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The revenue growth of the ceramic matrix composites market in the region witnessed a decline in 2020 owing to the outbreak of COVID-19. The lockdowns imposed by the governments in the region during the first and second quarters of 2020 resulted in the temporary shutdown of manufacturing operations of vendors and various end-user industries, which led to a decline in the production of and demand for automobiles, and airline bookings. However, the market is expected to recover during 2021-2025, as the vendors and end-user industries are reinstating their routine operations.

What is the Fastest-Growing Application Segment in the Ceramic Matrix Composites (CMC) Market?

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The ceramic matrix composites (CMC) market share growth by the aerospace and defense segment will be significant during the forecast period. The aerospace and defense segment has the largest share in the global ceramic matrix composites market. Ceramic matrix composites are used in the production of structural nozzles, braking systems, engine components, and thermal barriers in the aviation industry owing to their fracture toughness and the ability to withstand high thermomechanical loading.

This report provides an accurate prediction of the contribution of all the segments to the growth of the ceramic matrix composites (CMC) market size and actionable market insights on the post-COVID-19 impact on each segment. 

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What are the Key Data Covered in this Ceramic Matrix Composites (CMC) Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive ceramic matrix composites (CMC) market growth during the next five years
• Precise estimation of the ceramic matrix composites (CMC) market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the ceramic matrix composites (CMC) market industry across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of ceramic matrix composites (CMC) market vendors

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