Ceramic Matrix Composites Global Market Report 2022: Growing Automotive Industry and Rising Demand from the Wind Energy Sector Bolster Sector

DUBLIN, April 4, 2023 /PRNewswire/ -- The "Ceramic Matrix Composites Market Size, By Matrix Type, By Fiber Type, By End-Use Industry, and By Region Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The Ceramic Matrix Composites (CMCs) market is experiencing significant growth, with a market size of USD 8.80 billion in 2021, and an expected revenue CAGR of 11.1% during the forecast period.

This growth is primarily driven by the rising demand for sustainable parts and devices in the automotive industry, increasing need for lightweight and fuel-efficient vehicles, and growing political instability at country borders. CMCs are widely used in the aerospace sector for gas turbines and structural thermal protection, as well as in the energy sector for fusion reactor walls and heat exchangers.

CMCs are in high demand due to their unique engineering solutions and advantages, such as high-temperature stability, high hardness, lightweight, non-conductive and non-magnetic properties, high thermal shock resistance, high corrosion resistance, and versatility.

Moreover, CMCs are increasingly being used in different sectors and require temporary or permanent joints between surrounding materials and CMC components. The defense sector, for instance, is using CMCs for lightweight body armor, which is flexible, lightweight, and easy to wear. Composite materials are highly desirable and useful in the construction and manufacturing of buildings, bridges, and other structures due to their reduced weight, strength, and affordability. The aerospace and aircraft industries are also using composite materials to manage harsh environments.

The Covid-19 pandemic has changed perceptions and increased interest in innovation activities. Individuals are spending more time in isolation, which has led to increased interest in sustainable housing solutions. Social media and social media influencers also have a significant impact on the rising global demand for CMCs, as influencers encourage individuals to live a trendy and modern lifestyle, which requires lightweight and sustainable materials and devices in the construction industry.

Technological advancements are also driving growth in different sectors. Missile manufacturers are identifying new airframe technologies, CMC materials, and manufacturing methods to manufacture sustainable high-speed flights and future airframes. CMC manufacturers are expanding their business facilities to meet global requirements. For example, Pratt & Whitney, a division of Raytheon Technologies Corp., announced the opening of a CMC engineering and development facility in Carlsbad, California, that is solely focused on CMCs for aerospace applications.

Growing automotive industry and rising demand from the wind energy sector

The automotive industry is growing and there is a rising demand for CMCs from the wind energy sector. This is due to the importance of improving vehicle performance and safety while reducing fuel consumption, exhaust emissions, and weight. CMCs are emerging contemporary technologies that can help meet these requirements, and they are used to produce various engine parts such as exhaust and intake systems, valves, brake discs, turbine parts, and brake system parts.

The production of automobiles in various countries has increased in recent years, such as Vietnam, Malaysia, Brazil, and the United States. The use of CMCs in the automotive industry is also increasing, especially for making turbine blades, which are used in wind turbine production. As a result, manufacturers are expanding their production facilities to meet the rising demand.

Recyclability and reparability limit the use of CMCs

However, there are some limitations to the use of CMCs. They are not easily recyclable or reusable for the same application, and they are difficult to repair due to the lack of skilled workforce and limited techniques available. Additionally, they are more expensive than other alloys and metals. These limitations may restrain the growth of the market.

Matrix Type Insights

The market for ceramic matrix composites (CMCs) is segmented based on matrix type, fiber type, and end-use industry. In terms of matrix type, the market is divided into OX/OX, SIC/SIC, C/C, and SIC/C. The OX/OX segment had the largest revenue share in 2021 due to increased usage in applications involving oxidation-sensitive components. However, the high price of OX/OX CMC has hindered its switch and engineering of new hardware. The SIC/SIC segment is expected to have steady revenue growth due to the increasing production and export of fighter jets and severe environmental regulations that encourage the usage of lightweight and fuel-efficient materials.

Fiber Type Insights

Based on fiber type, the market is segmented into continuous, woven, and others. The continuous fiber segment accounted for the largest revenue share in 2021 due to its enhanced strength at higher temperatures and best strength and stiffness ratio when compared to other types of reinforcement. The woven segment is expected to have steady revenue growth due to the 3-D woven and braided preforms that can bridge and arrest cracks in CMCs.

End-Use Industry Insights

Based on end-use industry, the market is segmented into aerospace & defense, automotive, energy & power, industrial, and others. The aerospace & defense segment had the largest revenue share in 2021 due to growing trends in consumer order activities and commercial air travel. The automotive segment is expected to have steady revenue growth due to digitization in the manufacturing process, rising demand for EVs, and the usage of CMCs in automobile engine parts, valves, turbine parts, exhaust and intake systems, brake discs, and brake system parts.

Regional Insights

Regional analysis shows that North America had the largest revenue share in 2021, driven by the growing aerospace industry and increasing satellite experiments in the region. The defense and ammunition industry in the US is the largest and is expected to increase demand for CMCs. The merger of United Technologies Limited and Raytheon Company in April 2020 is expected to support efficient supply of raw materials, such as CMCs, in this industry.

The Asia Pacific market is expected to register steady revenue growth during the forecast period, driven by the growing population and rising disposable income in countries such as China and India. Manufacturers are expanding plant facilities to meet demand from various sectors. Kyocera Corporation announced on April 21, 2022, that it will build the largest manufacturing facility in Japan, which will soon become operational and expand production capacity for various components.

In Europe, the market is expected to register moderate revenue growth during the forecast period, driven by technological advancements that are supporting aerospace production in the region. Manufacturers are investing in R&D for innovation and technological advancements to improve fuel efficiency and cost efficiency. Solvay and SGL Carbon announced a joint agreement in December 2019 to introduce the first composite material to the market, which will reduce CO2 emissions and costs, improve production processes, and fuel efficiency of commercial aircraft. The material will be based on Solvay's primary structure resin systems and SGL Carbon's large-tow IM carbon fiber.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Ceramic Matrix Composites Market Segmentation & Impact Analysis
4.1. Ceramic Matrix Composites Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Growing automotive industry
4.2.2.2. Rising demand from the wind energy sector
4.2.3. Market restraints analysis
4.2.3.1. Recyclability and reparability limit the use of CMCs
4.2.3.2. High cost of manufacturing

Chapter 5. Ceramic Matrix Composites Market By Matrix Type Insights & Trends

Chapter 6. Ceramic Matrix Composites Market By Fiber Type Insights & Trends

Chapter 7. Ceramic Matrix Composites Market By End-Use Industry Insights & Trends

Chapter 8. Ceramic Matrix Composites Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

Companies Mentioned

• 3M
• Advanced Ceramics Association
• CoorsTek Inc.
• General Electric
• KYOCERA Corporation
• LANCER SYSTEMS
• SGL Carbon
• Ultramet Inc.
• CFC CARBON CO. LTD.
• Axiom Materials Inc.

For more information about this report visit https://www.researchandmarkets.com/r/x9g6pw

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