Ceramic Matrix Composites Market

Market Overview

The global ceramic matrix composites market size was valued at USD 3.06 billion in 2021 and is predicted to reach USD 9.04 billion by 2030, increasing at a CAGR of 12.79% from 2022 to 2030.

The application of ceramic matrix composites (CMCs) in automotive settings is the most recent trend that has been spotted in the market for ceramic matrix composites. CMCs contribute to a reduction in the overall weight of vehicles, which enables those vehicles to achieve a high level of fuel efficiency and produce a lower level of pollution. In light of the increasingly rigorous environmental rules that are being put into place all over the world, it is anticipated that the market demand for CMCs will expand in the years to come.

Because CMCs have exceptional mechanical qualities and a high strength-to-weight ratio, the aerospace industry is experiencing an increase in demand for these materials. As a result, the supply of these materials is beginning to run low. They find use in high-speed mechanical components, power transmission lines, rotor blade sleeves for helicopters, ventral fins for fighter aircraft, and fans for jet engines. A major increase in the production of airplanes has taken place, particularly in the nations of Europe, in order to fulfill the requirements of the operations involved in international trade. In the future years, it is anticipated that the market for ceramic matrix composites would expand as a result of the anticipated rise in the manufacturing of airplanes.

Market Dynamics

Global Ceramic Matrix Composites Market Drivers

• Lightweight, Fuel-Efficient Automobiles Are in High Demand

The urgent need to eliminate global pollution and the planet's carbon imprint has arisen. To reduce pollution, governments from around the world are pushing the use of fuel-efficient automobiles, which produce fewer emissions. Because of this, it is critical for automobile manufacturers to reduce the weight of their vehicles in order to achieve greater efficiency. As a result, rising fuel costs will be less of an issue, and carbon emissions will be cut. This has sparked a flurry of activity in the field of science and technology development. As a result, there is an increasing need for ceramic matrix composites due to the growing need to enhance efficiency, reduce fuel costs, reduce pollution, and build lightweight automobiles.

Research and developments have led to the development of new technologies to make ceramic matrix composites with improved characteristics and increased structural efficiency at lower weights than the current technology. It is expected that composite production costs and cycle times will be reduced as a result of this high degree of innovation. Such technology can be used to meet the growing demand for lightweight ceramic matrix composites-based goods, and the market will grow as a result of this expansion.

• Growth In the Automobile Sector in Emerging Countries Act as A Driver

Ceramic matrix composites are suited for automotive applications because of their high tensile strength and tolerance to high temperatures. Ceramic matrix composites are preferred by car manufacturers for engine components. The ceramic matrix composites market has grown as a result of this. In addition to being lighter and more durable than traditional composites, ceramic matrix composites are also able to tolerate extremely high temperatures. Their heat resistance and ability to function with little or no cooling reduce the amount of cooling air required by motors when they're in operation.

Because of their lightweight and efficient properties, ceramic matrix composites are expected to take the place of traditional alloys and metal components in automotive engines. There is a growing demand for automobiles in developing countries like China, India, and Japan. To the International Organization of Automobile Manufacturers, China's annual vehicle production has increased by 3.2 percent to remain the world's largest car market. Demand for ceramic matrix composites will rise as the production of personal and commercial vehicles rises, thanks to factors such as lower tariffs on imported automobiles and auto parts as well as an increase in the number of vehicles produced.

Global Ceramic Matrix Composites Market Restraints

• Costlier Than Alternative Metals and Alloys

Comparatively, ceramic matrix composites are more costly than other metals and alloys that have been employed in the same spectrum of applications. In large part, the price of ceramic fibers determines ceramic matrix composites. Carbon/carbon ceramic matrix composites are cheaper than silicon carbide/silicon carbide as well as oxide/oxide ceramic matrix composites because of the large-scale manufacture of carbon fibers to fulfill the increasing demand for CF and CFRP products worldwide. The world's manufacturing of alumina and silicon carbide fibers is also quite low.

Creating Ceramic matrix composites also uses a large amount of energy, raising the end product's price considerably. High processing temperatures lead to more complicated production processes, which in turn raise the price. Even more problematic for market expansion is the fact that pricey raw materials and lengthy production times increase costs. Such a factor is predicted to impede market expansion.

Which Opportunites May Impede Ceramic Matrix Composites Market Growth?

• The Development of Ceramic Matrix Composites for Use at Extremely High Temperatures

Recent research on ultra-high temperature ceramics, also known as UHTCs, has demonstrated that these materials have excellent resistance to erosion at temperatures of up to 2000 degrees Celsius or even higher. On the other hand, they are unable to withstand thermal shocks and damage. The C3HARME project's objective is to develop ultra-high temperature ceramic matrix composites (UHTCMCs) that are capable of self-healing in order to circumvent these technological limitations. This will be accomplished by combining the advantageous properties of ceramic matrix composites (CMCs) and ultra-high temperature ceramics (UHTCs). As a result, the production of brand-new goods utilizing CMCs that possess superior qualities is anticipated to offer lucrative prospects.

Regional Analysis

The global ceramic matrix composites market share is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

In 2021, the North America region dominated the market and represented for more than 45 percent of the total revenue generated worldwide. Some of the essential factors that are anticipated to propel CMC demand in North America include the existence of major aviation companies, their investment in establishing ceramic matrix components for producing aviation components, and alliances with governmental bodies for upgrading defense equipment. Additionally, the CMC demand in North America is expected to be propelled by the presence of these factors.

The Asia-Pacific region's excessive consumption of oil has heightened the importance of ensuring energy security by shifting the region's focus to the generation of power from alternative sources of energy, one of which is natural gas. Because of this, ceramic matrix composites have a good chance of playing a significant role in this sector. In addition, the expanding need for aircraft engines that consume less fuel is going to be a major driver of growth in this market, which will ultimately help to bring down overall operational expenses.

It is anticipated that technical advances in the aerospace sector will be beneficial to the countries of Latin America. As a consequence, this will likely result in the region becoming one of the most important manufacturing centers for the aviation industry in the United States. The market is likely to be propelled forward by the rise in demand from a variety of industries, particularly the aerospace, automotive, electrical and electronics, and energy and power sectors.

There will be a favorable effect on the market as a result of the increased foreign investment that has been drawn to the Middle East and Africa as a result of the lower costs of production there. In addition, the development of new technologies is anticipated to be of assistance to aerospace manufacturing in the region, which, in turn, is anticipated to fuel the market in the region.

Segmental Analysis

The global ceramic matrix composites market share is divided into different segments according to the By Product, Application, and Regions (or Geography).

By Product, the global ceramic matrix composites market is segmented into Oxide, Silicon Carbide, Carbon and Others. In 2021, the oxides product segment dominated the market, accounting for more than 30% of worldwide sales. Improved features of oxide composites, along with no oxidation and high fracture toughness, as well as a more cost-effective manufacturing technique, are projected to drive demand for aerospace, defense, and energy and power applications.

During the forecast period, the Silicon Carbide segment is expected to grow at a CAGR of 13.1 percent in terms of revenue. The segment's most significant growth obstacle is the higher starting price of Silicon Carbide ceramic matrix composites. Cleaning and repositioning costs, as well as other expenditures incurred during usage and transit, limit demand growth.

Due to the enormous production of carbon fibers to meet the rising demand for CF and CFRP products globally, carbon products retained a major market share in 2021. Carbon or carbon ceramic matrix composites are far less expensive than silicon carbide/silicon carbide or oxide or oxide ceramic matrix composites.

By Application, the global ceramic matrix composites market is segmented into Aerospace, Defense, Energy & Power, Electrical & Electronics and Others. In 2021, the aerospace application category dominated the market, accounting for more than 40% of worldwide sales. Consumer demand for nose, rudder, fins, leading edges, body wings, hot structure, ceramic tile, and panels for aircraft is expected to grow in the aerospace market throughout the forecast period.

These composites are suited for constructing bullet-proof armor and insulator in small arms weapon systems because to their great impact strength and high hardness in the defense segment. Certain forms of energy and light are mostly transparent in ceramic materials. As a result, infrared domes, sensor shielding, and multi-spectral windows are all common applications.

The fastest-growing application category for CMC materials is predicted to be energy and power. CMC's high-temperature stability, along with increased oxidation resistance and radiation resistance, make it ideal for fission and fusion activities.

In the electronics industry, ceramic matrix composites are commonly employed as isolators. Because of their high heat conductivity, they can also be used in electronic circuits. Ceramics for laser diodes, LEDs, artificial teeth, fuel cells, and other applications are also projected to propel the market.

By Region or Geography, the global ceramic matrix composites market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, the North American region dominated the market, accounting for about 45 percent of worldwide sales. Major aviation companies' presence, their investment in creating ceramic matrix components for manufacturing aircraft components, and alliances with government agencies to upgrade defense equipment are all expected to drive CMC demand in North America.

Overconsumption of oil in Asia Pacific has heightened the demand for energy security, with an emphasis on alternative energy sources such as natural gas. As a result, ceramic matrix composites are expected to play a significant role in this market. Furthermore, the increased demand for fuel-efficient aircraft engines will drive the market to lower operating costs.

Recent Developments

• April 2022 - Kyocera Corporation plans to develop its largest factory in Japan, expanding the production of organic semiconductor packages and crystal device packages. Kagoshima Governor Koichi Shiota, Satsumasendai Mayor Ryoji Tanaka, and Kyocera executives signed on April 20, 2022. Kagoshima's Sendai Plant Campus will begin construction next month.
• April 2022 - Ube Industries, Ltd. has just made an announcement on the introduction of a new brand tagline, which is "Transform Tomorrow Today." Along with the transition to a new management structure centered on the chemicals industry and the change of the trade name to UBE Corporation dated April 1, 2022, the company has also adopted a new slogan to accompany these developments.