(Aviation-NewsWire.Com, July 31, 2024 ) The report " Ceramic Matrix Composites Market by Matrix Type (C/C, C/Sic, Oxide/Oxide, Sic/Sic), Fiber Type (Continuous, Woven), End-Use Industry (Aerospace & Defense, Automotive, Energy & Power, Industrial), and Region - Global Forecast to 2031" The ceramic matrix composite market is estimated at USD 12.0 billion in 2024 and is projected to reach USD 23.8 million by 2031, at a CAGR of 10.3% during the forecast period. Browse in-depth TOC on "Ceramic Matrix Composites Market”
Carbon/Silicon Carbide matrix type segment is expected to account for the largest market share in 2024. In C/SiC ceramic matrix composites, the matrix type is typically a silicon carbide matrix embedded with carbon fibers. C/SiC ceramic matrix composites have high thermal, mechanical, and chemical stability, as well as a high strength-to-weight ratio. These composites are used in high-temperature applications such as gas turbines, aerospace components, and thermal protection systems due to their exceptional properties.
Continuous fiber type segment held the largest market share in the ceramic matrix composites market. The continuous fiber ceramic matrix composites are a type of advanced composite material that consist of continuous ceramic fibers embedded in a ceramic matrix. The reinforcement in continuous fiber ceramic matrix composites is provided by long, continuous ceramic fibers such as carbon, silicon carbide, alumina, or mullite. These fibers have an amorphous structure that can withstand high temperatures. Therefore, continuous fiber ceramic matrix composites are used in aerospace and defense, automotive, and energy and power end-use industries.
North America region is expected to account for the largest market share in 2024. The ceramic matrix composite market has been studied in North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The North American ceramic matrix composites market is experiencing explosive growth, fuelled by a variety of factors. Soaring demand from industries like aerospace is at the forefront, with US leading the charge. The demand for lightweight and electric vehicles is also rising that in turn drives the demand for ceramic matrix composites in the region. Ceramic Matrix Composites Market Key Players Prominent companies include General Electric (US), Rolls-Royce PLC (UK), SGL Carbon (Germany), Raytheon Technologies Corporation (US), Axiom Materials Inc. (US), CoorsTek Inc. (US), Lancer Systems (US), COIC (US), Applied Thin Films (US), Ultramet (US), CFC Carbon co., ltd. (China), among others.
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