Ceramic Matrix Composites Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Ceramic Matrix Composites Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, July 17, 2024 /EINPresswire.com/ -- The ceramic matrix composites market has experienced robust growth in recent years, expanding 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, a rise in disposable income, and increased demand for air travel.

Strong Future Growth Anticipated

The ceramic matrix composites market is projected to continue its strong growth, reaching $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 the 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.

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Growth Driver Of The Ceramic Matrix Composites Market

Increasing demand for electric vehicles will positively impact the ceramic matrix composites market. Ceramic matrix composites are increasingly being used in hybrid vehicles. Because of their characteristics and behavior ceramic matrix composites seem to have the biggest potential for their use in electric and hybrid vehicles. The principal benefits of ceramic matrix composites in the automotive industry for reducing car weight are fuel savings and, in the case of electric vehicles, longer driving times before recharging.

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Major Players And Market Trends

Key players in the ceramic matrix composites market include 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.
Technological advancement is a key trend gaining popularity in the ceramic matrix composites market. Ceramic matrix composites manufacturers are increasingly focusing on adopting advanced technologies to manufacture aero-engine composites that enable high fuel efficiency in the engines and reduce CO2 emissions.

Segments:

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

Geographical Insights: North America Leading The Market
North America was the largest region in the ceramic matrix composites market in 2023.

Ceramic Matrix Composites Market Definition

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.

Ceramic Matrix Composites Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Ceramic Matrix Composites Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ceramic matrix composites market size, ceramic matrix composites market drivers and trends, ceramic matrix composites market major players, ceramic matrix composites competitors' revenues, ceramic matrix composites market positioning, and ceramic matrix composites market growth across geographies. The ceramic matrix composites market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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