Enjoy complimentary customisation on priority with our Enterprise License!
The ceramic matrix composites (CMC) market size is estimated to grow at a CAGR of 10.41% between 2022 and 2027. The market size is forecast to increase by USD 2,742.86 million. The growth of the market depends on several factors, including government initiatives and funding, technological advancements in manufacturing processes, and growing demand for energy-efficient systems.
This ceramic matrix composites (CMC) market report extensively covers market segmentation by product (oxide, silicon carbide, and carbon), application (aerospace and defense, automotive, power and energy, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
The growing demand for energy-efficient systems is notably driving the market growth, although the lack of standardization of CMCs may impede the market growth. 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.
Growing demand for energy-efficient systems is notably driving the Ceramic Matrix Composites (CMC) 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. 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 growth of the market during the forecast period.
The growing adoption in the automotive industry is a key trend influencing the Ceramic Matrix Composites (CMC) 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.
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. 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 Ceramic Matrix Composites (CMC) Market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Ceramic Matrix Composites (CMC) Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co: The company offers different types of oxide ceramic matrix composites which are primarily used in aerospace industries and gas turbine applications.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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 various segments View the PDF Sample
The oxide segment was valued at USD 1,471.63 million in 2017 and continued to grow until 2021. 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 ceramic matrix composites (CMC) market segment is trending to grow in the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 50% to the growth of the global ceramic matrix composites (CMC) market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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.
Revenue growth of the ceramic matrix composites (CMC) market across the world declined in 2020 due to the COVID-19 outbreak. Lockdowns imposed by different governments across the world in the first and second quarters of 2020 temporarily closed supplier manufacturing operations and various end-user industries, such as aerospace and defense, reducing automotive production. The market is recovered from the impact of the COVID-19 pandemic as vaccination campaigns continue across the world.
The ceramic matrix composites (CMC) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global ceramic matrix composites (CMC) market as a part of the global specialty chemicals market. The global specialty chemicals market includes products and companies with high-value-added chemicals used in the manufacture of a wide variety of products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings.
Ceramic Matrix Composites (CMC) Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.41% |
Market growth 2023-2027 |
USD 2742.86 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.87 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 50% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled |
3M Co., Applied Thin Films Inc., Axiom Materials Inc., CeramTec GmbH, CFC Carbon Co. Ltd., COI Ceramics Inc., Composites United e V, CoorsTek Inc., General Electric Co., KYOCERA corp., Lancer Systems, Rolls Royce Holdings Plc, Safran SA, Compagnie de Saint Gobain, SGL Carbon SE, Spirit AeroSystems Holdings Inc., Starfire Systems Inc., Ube Corp., Ultramet, and YuCMC Co. Ltd. |
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, Market condition analysis for 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
Get lifetime access to our
Technavio Insights
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.