Ceramic Matrix Composites Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

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Overview and Scope
Ceramic matrix composites refer to a unique kind of composite material where the matrix and reinforcement (refractory fibers) are both made of ceramic, with the material consisting of a ceramic matrix that is mixed with a ceramic dispersed phase to provide mechanical strength and improve the toughness of conventional ceramics.

Sizing and Forecast
The ceramic matrix composites market size has grown rapidly in recent years. It will grow from $6.99 billion in 2023 to $7.74 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to increasing demand for consumer electronics, strong economic growth in emerging markets, rise in disposable income and increased demand for air travel.

The ceramic matrix composites market size is expected to see rapid growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to high demand for lightweight automobiles, increasing demand for electric vehicles, increasing demand for portable electronic devices using ceramic matrix composites and increasing demand from the medical industry. Major trends in the forecast period include focus on technological advancement, focus on partnerships and collaborations, focus on 3d printing technology, focus on creating new, innovative solutions, focus on r&d activities and focus on manufacturing geopolymer matrix composites.

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Segmentation & Regional Insights
The ceramic matrix composites market covered in this report is segmented –

1) By Type: Oxide/Oxide, Carbon/Silicon Carbide, Carbon/Carbon, Silicon Carbide/Silicon Carbide
2) By Category: Short Fiber, Long Continuous Fiber, Whiskers
3) By Production Method: Powder Dispersion, Reactive Melt Infiltration, Polymer Impregnation And Pyrolysis, Gaseous Infiltration, Chemical Vapor Infiltration, Sol-Gel, Other Production Methods
4) By End-Use Industry: Aerospace And Defense, Automotive, Energy And Power, Electricals And Electronics, Other End-Use Industries

North America will be the largest region in the ceramic matrix composites market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the ceramic matrix composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The high demand for lightweight automobiles across the globe is contributing to the growth of the ceramic matrix composites market. The increased demand for lightweight electric vehicles has turned automakers’ focus to lightweight composite materials as a substitute for heavier steel and iron in vehicles. For instance, according to McKinsey, the automotive industry is expected to increase the use of lightweight materials by 30 to 70% by 2030. So, high demand for lightweight automobiles will drive the ceramic matrix composites market.

Key Industry Players
Major companies operating in the ceramic matrix composites market report are 3M Company, General Electric Company, CeramTec GmbH, Coorstek, Inc., Kyocera Corporation, Ube Industries Ltd, SGL Carbon Company, Rolls-Royce plc, Applied Thin Films Inc, Ultramet, CFC Carbon Co. Ltd, Karbon composites & Technology Co Ltd, Neo Carbon Fiber, China Composites Group Corp Ltd, DJT Carbon Co Ltd, ZhongAo Carbon, Tasuns Composite Technology, Zhejiang Xinchor Technology Co Ltd, HangFung Technology, Sichuan Chang Yang Composites Company Limited, ShenZhen RuiTai Carbon, Dongguan Roche Industrial Co. Ltd, Safran, Cemacon, Ceramica S.A, COI Ceramics,, Axiom Materials Inc., Raytheon Technologies, Lancer Systems, United Technologies

The ceramic matrix composites market report table of contents includes:

1. Executive Summary
2. Ceramic Matrix Composites Market Characteristics
3. Ceramic Matrix Composites Market Trends And Strategies
4. Ceramic Matrix Composites Market – Macro Economic Scenario
5. Global Ceramic Matrix Composites Market Size and Growth
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32. Global Ceramic Matrix Composites Market Competitive Benchmarking
33. Global Ceramic Matrix Composites Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Ceramic Matrix Composites Market
35. Ceramic Matrix Composites Market Future Outlook and Potential Analysis
36. Appendix

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