$16.6 Billion Worldwide Ceramic Matrix Composites Industry to 2031 - North America was the Largest Region in 2021 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 3, 2023--
The “Ceramic Matrix Composites Global Market Opportunities And Strategies To 2031” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists; marketers and senior management with the critical information they need to assess the global ceramic matrix composites market as it emerges from the COVID-19 shut down.
The global ceramic matrix composites market reached a value of nearly $5,737.39 million in 2021, having grown at a compound annual growth rate (CAGR) of 5.48% since 2016. The market is expected to grow from $5,737.39 million in 2021 to $9,519.75 million in 2026 at a rate of 10.66%. The market is then expected to grow at a CAGR of 11.87% from 2026 and reach $16,678.06 million in 2031.
- 3M Company
- General Electric Company
- CeramTec GmbH
- Coorstek, Inc.
- Kyocera Corporation
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Growth in the historic period resulted from increasing demand for consumer electronics, strong economic growth in emerging markets, rise in disposable income and increased demand for air travel. Factors that negatively affected growth in the historic period were coronavirus pandemic and increasing costs.
Going forward, 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 will drive the growth. Factors that could hinder the growth of the ceramic matrix composites market in the future include stringent government regulations and restrictions on free trade.
The ceramic matrix composites market is segmented by type into oxide/oxide, carbon/silicon carbide, carbon/carbon and silicon carbide/silicon carbide. The oxide/oxide market was the largest segment of the ceramic matrix composites market segmented by type, accounting for 42.41% of the total in 2021. Going forward, the silicon carbide/silicon carbide segment is expected to be the fastest growing segment in the ceramic matrix composites market segmented by type, at a CAGR of 11.44% during 2021-2026.
The ceramic matrix composites market is segmented by category into short fiber, long continuous fiber and whiskers. The long continuous fiber market was the largest segment of the ceramic matrix composites market segmented by category, accounting for 44.25% of the total in 2021. Going forward, the whiskers segment is expected to be the fastest growing segment in the ceramic matrix composites market segmented by category, at a CAGR of 11.42% during 2021-2026.
The ceramic matrix composites market is segmented by production method into powder dispersion, reactive melt infiltration, polymer impregnation and pyrolysis, gaseous infiltration, chemical vapor infiltration, sol-gel and other production methods.
The polymer impregnation and pyrolysis market was the largest segment of the ceramic matrix composites market segmented by production method, accounting for 27.27% of the total in 2021. Going forward, the polymer impregnation and pyrolysis segment is expected to be the fastest growing segment in the ceramic matrix composites market segmented by production method, at a CAGR of 11.21% during 2021-2026.
The ceramic matrix composites market is also segmented by end-use industry into aerospace and defense, automotive, energy and power, electricals and electronics and other end-use industries.
The aerospace and defense market was the largest segment of the ceramic matrix composites market segmented by end-use industry, accounting for 45.98% of the total in 2021. Going forward, energy and power segment is expected to be the fastest growing segment in the ceramic matrix composites market segmented by end-use industry, at a CAGR of 11.31% during 2021-2026.
North America was the largest region in the ceramic matrix composites market, accounting for 32.09% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the ceramic matrix composites market will be North America and Asia Pacific where growth will be at CAGRs of 13.18% and 11.10% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 9.12% and 7.05% respectively.
To take advantage of the opportunities, the publisher recommends the ceramic matrix composites companies to focus on technological advancements, adopt 3D printing technology, launch innovative products, increase focus on geopolymer matrix composites, expand in emerging economies, offer competitive prices, continue to use B2B promotions and focus on fast-growing end-use industries.
For more information about this report visit https://www.researchandmarkets.com/r/xa4zrz
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PUB: 01/03/2023 06:52 AM/DISC: 01/03/2023 06:53 AM