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Ceramic Matrix Composites also called as CMC, is a group of composite materials which consist of ceramic fibers, suspended in ceramic matrix of any ceramic material. Carbon fibers and carbon is also considered as ceramic material. It exhibits properties like crack resistance, corrosion stability, elongation, thermal shock resistance, dynamical load properties, and anisotropic properties.it has wide range of applications in the aerospace & defense, automotive, energy & power, and industrial applications.
Rise in demand for components of heat shield system, combustion chamber, turbine blades, of space vehicles aerospace and defense sector is driving the market. CMC overcome some of the major shortcomings of conventional ceramics like limited shock resistance, brittle failure, and low fracture durability. CMCs in gas turbines allow higher turbine inlet temperatures, which increases turbine efficiency. Additionally, the lifetime of CMCs is longer than the metals which frequently deform after a definite period. Availability of new technologies and increasing exposure to benefits of CMC among the consumer is propelling the CMC market.
However, manufacturing of CMC involves use of high-end machines & equipment. High production cost as compared to other alternatives like metals and alloys is likely to hamper the growth of market.
Key Market Driver -
Increasing applications in aerospace industry.
Key Market Restraint -
High production cost compared to metal and alloys.
By product type, the market is segmented into Silicon Carbide Reinforced Silicon Carbide (SIC/SIC), Carbon Reinforced Carbon (C/C), Oxide-Oxide (OX/OX), Silicon Carbide and Carbon (SIC/C). Based on end use the market is categorized into defense & aerospace, automotive, energy & power, industrial, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global ceramic matrix composites market are General Electric, Rolls Royce, CFC carbon, SGL carbon, Kyocera corporation, Axiom materials and others.
Regionally, the Market is categorized into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is the largest and fastest growing market due to the presence of large number of manufacturers. R&D activities and high investments of manufacturers on the new types of composites is driving the market. Europe is the second-largest market attributed to the growing demand of CMC components from the aerospace and defense sector. Asia Pacific is estimated to show moderate growth in the forecast period. The Latin America and Middle East & Africa are anticipated to show growth by the end of the estimated period.
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