In 2016, the global ceramic matrix composites (CMC) market generated a revenue of $2.2 billion and is predicted to advance at a 13.7% CAGR during the forecast period (2016–2024). The market is witnessing growth due to the rising demand for lightweight composites in the aerospace and manufacturing industries and increasing utilization of ceramic matrix composite materials in the defense sector. CMCs are manufactured by making use of ceramic slurry infiltration process, silicon infiltration process, pyrolysis process, and polymer infiltration.

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When product is taken into consideration, the ceramic matrix composites market is categorized into silicon carbide, carbon, oxide, and others. Among these, the silicon carbide category accounted for more than 25.0% share of the market in 2017, in terms of value, and is further predicted to dominate the market during the forecast period. The reason for this is the wide applications of silicon carbide in different industries. The oxides category is expected to grow at the fastest CAGR during the forecast period.   

The rising requirement for lightweight composites in manufacturing and aerospace industries is a major driving factor of the ceramic matrix composites market. The weight of the materials plays a significant role in performance in the aerospace industry, which is why the industry is demanding lightweight and rigid materials for several applications. Apart from this, the automotive industry also needs lightweight components to increase fuel efficiency. Since combination or replacement of traditional materials with nano-composites or matrix composites reduces mass along with enhancing overall efficiency and reliability, the demand for CMCs is rising.

In terms of application, the ceramic matrix composites market is divided into defense, electrical & electronics, aerospace, energy & power, and others. The aerospace application contributed a share of more than 15.0% to the market in 2017, in terms of value, and is expected to dominate the market during the forecast period as well. The reason for this is the growing research & development activities and expansion of manufacturing facilities by the major players in the domain. The energy & power application is projected to grow at the fastest pace during the forecast period.

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GLOBAL CERAMIC MATRIX COMPOSITES MARKET

By Product 

Oxide

Silicon Carbide

Carbon

Others

By Application

Aerospace

Defense

Energy & Power

Electrical & Electronics

Others

By Region

North America

Europe,

Asia-Pacific

Middle East and Africa (MEA)

Central & South America (CSA)