Ceramic Matrix Composites Market Growth Factors, Technologies, Trends And Forecast to 2030

Ceramic Matrix Composites Industry Overview

The ceramic matrix composites market size was estimated at USD 3.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.9% from 2022 to 2030. High-temperature stability, in addition to reduced weight and high strength, is expected to propel market growth.

 

The chemical industry had an unanticipated turning point in the first half of 2020. These businesses, which were already coping with complicated long-term patterns, saw the combined consequences of the COVID-19-related economic crisis and the oil price crash. The global pandemic has had a significant influence on the market.

 

Gather more insights about the market drivers, restrains and growth of the Global Ceramic Matrix Composites Market

 

Many major players have kept their production sites open while implementing preventative measures such as social isolation, remote working where possible, and travel limits. In light of global developments, countries have eased limitations on the supply of ceramic matrix composites. Furthermore, to de-risk supply chains, securely manage operations, continue production, and assure the availability of their products, firms must adapt and adjust to an ever-changing global environment.

 

The U.S is the world’s leading military force and a significant consumer of CMCs. Furthermore, the US Department of Energy is investigating CMC cladding for fuel rods in light-water nuclear reactors, which is projected to boost CMC demand in the energy and power industry. The market for ceramic matrix composites in North America is expected to grow as key industry players raise their R&D efforts and expand their manufacturing capacities and product ranges.

 

The demand for SIC/SIC has risen as a result of increased manufacturing and sale of aerospace and defense equipment such as fighter planes from the U.S. to emerging countries which is anticipated to boost the demand for ceramic matrix composites in the U.S. In addition, implementing strict environmental standards that emphasize the use of lightweight and fuel-efficient materials is also expected to drive the market.

 

Growing investments in the region’s military and aerospace sectors are helping to drive the market in the country. As a result of the aforementioned developments, the Market in North America is expected to dominate during the projected period.

 

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• Aramid Fiber Market: The global aramid fiber market size was estimated at USD 3.62 billion in 2021 and is estimated to register a compound annual growth rate (CAGR) of 5.3% over the forecast period.
• Geomembrane Market: The global geomembrane market size was estimated at USD 1,986.6 million in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 5.2% from 2022 to 2030.

 

Ceramic Matrix Composites Market Segmentation:

Grand View Research has segmented the global ceramic matrix composites market on the basis of product, application, and region:

• Ceramic Matrix Composites Product Outlook (Volume, Tons; Revenue, USD Million, 2015 – 2025)
  • Oxide
  • Silicon Carbide(SiC)
  • Carbon
  • Others

 

• Ceramic Matrix Composites Application Outlook (Volume, Tons; Revenue, USD Million, 2015 – 2025)
  • Aerospace
  • Defense
  • Energy & Power
  • Electrical & Electronics
  • Others

 

• Ceramic Matrix Composites Regional Outlook (Volume, Tons; Revenue, USD Million, 2015 – 2025)
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies profiled:

Some prominent players in ceramic matrix composites market include,

• 3M Company
• CeramTec International
• General Electric Company
• Coorstek, Inc.
• COI Ceramics, Inc.
• UBE Industries, Ltd.

 

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