Ceramic Matrix Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Ceramic Matrix Composites Market is projected to register a CAGR of over 10% during the forecast period (2021-2026).

Ceramic Matrix Composites are mostly used in aerospace sector (gas turbines, structural re-entry thermal protection) and energy sector (heat exchangers, fusion reactor walls) owing to its exceptional oxidation and radiation resistance properties. Ceramic Matrix Composites consumption is dominated by Aerospace industry. The outbreak of COVID-19 has affected many industries including aerospace and as well as general economic activities. The implementation of lockdowns across various countries has severly affected the aerospace industry. Whereas the slump in economic activity has affected the development in the establishment of new industries, and expansions, which has a severe impact on consumption of Ceramic Matrix Composites thereby affecting the market studied

• Over the short term,increasing application of ceramic matrix composites in defense sector along with the exceptional performance properties of ceramic matrix composites at very high temperatures are driving the market demand
• On the flip side, higher cost of production as compared to other metals & alloys are estimated to hinder the growth of the market studied.
• North America accounts for the highest share of the ceramic matrix composite market and is expected to witness the highest growth rate during the forecast period

Scope of the Report

Ceramic Matrix Composites can be produced by either chemical vapor or liquid phase infiltration, polymer infiltration and pyrolysis (PIP), and hot press sintering techniques. The Ceramic Matrix Composites market is segmented by product type, end-user industry, and geography. By product type teh market is segmented by C/C Ceramic Matrix Composites, C/SIC Ceramic Matrix Composites, Oxide/Oxide Ceramic Matrix Composites, SIC/SIC Ceramic Matrix. By end-user industry, the market is segmented Automotive, Aerospace, Defense, Energy & Power, Electrical & Electronics, and other end-user industries. The report also covers the market size and forecasts for the Ceramic Matrix Composites in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD Million).

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Key Market Trends

SIC/SIC Ceramic Matrix Composites to Drive the Market Growth

• SiC/SiC ceramic matrix composites are majorly used for in gas turbines and are major alternatives for metallic alloys.
• In the recent years, SiC/SiC ceramic matrix composites application in energy & power industry has been increasing owing to its exceptional oxidation and radiation resistance properties.
• For instance, there are 33 wind farms at various stages of development throughout South Africa, including these two giant projects. The country has more than 1,365 wind turbines generators equaling 3,672 MW installed capacity of which 2,020 MW is fully operational. Also, due to country’s national COVID-19 lockdown, the project commenced in March 2020, and construction at this Northern Cape wind farm was halted and picked up pace in May 2020.
• Besides this, exceptional performance properties of these composites at very high temperatures further add to the advantage of using these composites for application in the energy & power sector.
• Owing to such favourable properties, and growing investments in energy and power sector, the demand for SiC/SiC matrix composites is projected to dominate the Ceramic Matrix Composites Market during the forecast period despite of the temporary impact caused by COVID-19.

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