Latest market study on "Global Ceramic Matrix Composites Market to 2027 - Global Analysis and Forecasts By Product (Oxides/Oxide, Carbon/ Silicon Carbide, Silicon Carbide/ Silicon Carbide, Carbon/ Carbon); End-use Industry (Aerospace & Defense, Energy, And Power, Automotive, Industrial, Others) And Geography", Ceramic Matrix Composites (CMCs) are the materials consisting of a ceramic matrix combined with ceramic oxides or carbides. Ceramic materials are inorganic and nonmetallic solids, which are crystalline. They exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics. The global ceramic matrix composites market is accounted to US$ 8,560.0 Mn in 2018 and is expected to grow at a CAGR of 9.1% during the forecast period 2019 - 2027, to account to US$ 18,485.0 Mn by 2027.

The ceramic matrix composites are technical ceramics and composite materials that consist of ceramic fibers embedded in a ceramic matrix that forms a ceramic fiber-reinforced material. The ceramic matrix composites market, by end-use industry has been segmented into aerospace, defense, energy and power, electrical and electronics, and others.

The ceramic matrix composites market are used in a wide range of end users such as aerospace, defense, energy and power, electrical and electronics and others. The aerospace & defense segment is expected to dominate the ceramic matrix composite market whereas the automotive segment is expected to grow at a rapid pace. The electrical & electronic industry and automotive sector of the ceramic matrix composites (CMC) market is rapidly increasing due to its low weight, high friction, and temperature-resistant. Ceramic matrix composites are also highly utilized in aerospace & defense equipment, owing to their properties including lightweight, enhanced fuel efficiency, and prolonged durability. In addition to that, increase in research and development activities in aerospace & defense technologies and increasing production of military aircrafts is creating demand for ceramic matrix composites, which in turn driving the growth of the ceramic matrix composites market.

The aerospace and defense segment is leading the global ceramic matrix composites market. The high modulus of ceramic matrix composites makes it structurally suitable in the production of aircraft. Moreover, the demand for SiC fiber composites is high for manufacturing turbine & combustion section of aero-propulsion engines, which is expected to result in high product demand. The increasing use of aerospace composite materials like ceramic matrix composites has played a significant role in the increased fuel efficiency and weight reduction of the aerospace. These properties of the ceramic matrix composites have encouraged its use in the aerospace and spacecraft industry.

Apart from the aerospace and defense industry, automotive, energy and power, industrial, and other industry is growing in the ceramic matrix composites market. In the automotive industry these composites help to withstand extreme temperatures, offer resistance to oxidation and corrosion, and can be used for materials requiring lightweight yet high strength. Therefore, the growing importance of ceramic matrix composites in the automotive industry, along with the rise in industrialization and urbanization, is promoting the growth of the market. Ceramic matrix composites are increasingly being used in the power generation industry for hot components in gas turbine engines. These composites are known for their lightweight and high-temperature stability, which makes them ideal to be used in the power generation industry. With growing industrialization and increasing need for lightweight materials which could work in extreme temperatures, ceramic matrix composites have also found its application in industrial sector such as chemical industries. The industrial sector including chemical industry has been developed and revolutionized entirely over the past decade due to the technological developments that have been carried out. The ceramic matrix composites are known to possess low wear rate and low friction co efficient as compared to the other metals that has favored for its application in the biomedical industry. The ceramic matrix composites are witnessing increasing demand from the dental sector also as they are used in the dental crown and bridge applications also.

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