Market Segmentation
The global ceramic matrix composites market is segmented by type, category, process, application, and region. On the basis of the type, the market is segregated into oxide/oxide, carbon/silicon carbide, silicon carbide, carbon/carbon, silicon carbide/silicon carbide, and others. The carbon/silicon carbide is the most preferred type of ceramic matrix composites owing to high oxidation resistance and stiffness. Carbon/carbon composites are increasingly used in the racing cars and aircraft due to lightweight.
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Based on the category, the global market is segmented into short fibers, long (continuous) fibers, whiskers, and others. Long fibers are used widely by the major end-use industries owing to less brittleness and durability.
Based on the process, the market is segmented into power dispersion, liquid precursors, and gaseous infiltration. Liquid precursors is the preferred method for processing ceramic matrix composites due to reliability and suitability to form complex shapes based on the reinforcement preform shape.
On the basis of the application, the market is segregated into aerospace, automotive, electronics, energy & power, industrial, and others. Aerospace accounted for the largest market share as a result of increasing use in aircraft components such as gas turbine engines, brake disks, and turning blades. These composites are used as protection cover for furnaces and steel production.
Regional Analysis
Based on the region, the ceramic matrix composites market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America emerged as the largest market for ceramic matrix composites market in 2017 and is likely to witness a significant growth during the review period with burgeoning aerospace & defense industry. Surging demand for the lightweight aircrafts due to rising environmental issues is propelling the market growth.
Europe is the prominent region in the global ceramic matrix composites market with rising production of civil aircraft and helicopters, especially in the U.K, France, Italy, and Germany. Moreover, growing electrical and electronics industry with increasing demand for the wearable devices and electronic equipment in the pharmaceutical industry is driving the market growth.
Asia Pacific is the fastest growing region as a result of increased production of vehicles and aircrafts coupled with the easy and cheap availability of raw material and labors. Additionally, rising spending on the defense equipment by the government to strengthen the military power of the country is expected to augment the market growth.
Competitive Analysis
Some of the key players in the global ceramic matrix composites market are 3M (U.S.), CeramTec (Germany), applied thin films inc. (U.S.), CoorsTek Inc. (U.S.), KYOCERA Corporation (Japan), GENERAL ELECTRIC (U.S.), Lancer Systems (U.S.), COI Ceramics, Inc. (U.S.), SGL Carbon India Pvt Ltd (India), and Rolls-Royce plc (U.K).
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