Jul 05, 2021, 06:37 EST
Shibuya-ku, Tokyo, Japan, Japan, Jul 05, 2021, 06:37 /Comserve / -- Ceramic Matrix Composite (CMC) has high utility in various kinds of thermal management applications and electronics. The credibility lies in the material’s high thermal and electrical conductivity.
The Ceramic Matrix Composite market was valued at USD 2.49 billion by 2017, growing with 12.6% CAGR during the forecast period, 2018-2025.
Ceramic Matrix Composite (CMC) has high utility in various kinds of thermal management applications and electronics. The credibility lies in the material’s high thermal and electrical conductivity. It is perfect for applications where high efficiency is a necessity.
The end user industries comprise of automotive, aerospace, defense, energy &power, and electrical & electronics. Among these industries, sectors like energy & power, and electrical applications are anticipated to have high demand for CMCs. And this demand is due to excellent thermal stability and remarkable thermal conductivity of CMCs.
On the other side, industries like aerospace, automotive and defense will also prove to be highly profitable for CMCs sale. The exponential demand of CMCs in these sectors is due to its associated benefits such as superb load resistance, shock resistance and better flexibility.
As North America has a huge budget on defense and aerospace, it is expected that the region will have the highest concentration of CMC consumers. In 2017, North America witnessed the highest growth of ceramic matrix composite market and it is expected to pick up the pace till 2025. The Asia Pacific region is expected to emerge as the fastest growing in the region exhibiting a CAGR of 13.5% in terms of value and volume during the forecast period. The ever-increasing demands for energy followed by technological developments in the aerospace industry are the dominating factors paving the growth of CMC in this region. Emerging economies like China, Thailand, India, and Malaysia enjoy a competitive advantage as the cost of raw materials and labor is low.
The expansion of the global market for CMC is lead from the front by eminent names like Ceramtec International, 3M Company and COI Ceramics, Inc. It will not be long before various multinational companies and aviation giants like GE Aviation make a humungous investment in the development of ceramic composites to manufacture aircraft engines. Other companies operating in this area are UBE Industries, Ltd., Kyocera Corporation, Lancer Systems and Coorstek, Inc. For new companies capital requirement is the major hurdle which may restrict them to take entry in this business segment.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
MARKET, BY APPLICATION
Energy & power
Electrical & Electronics
MARKET, BY REGION
Rest of Europe
Rest of Asia Pacific
Rest of the World
Middle East and Africa
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