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Ceramic Matrix Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 140 Pages
  • April 2021
  • Region: Global
  • Mordor Intelligence
  • ID: 4987376
UP TO OFF until Mar 31st 2024
The Ceramic Matrix Composites Market is projected to register a CAGR of over 10% during the forecast period (2021-2026).

Ceramic Matrix Composites are mostly used in aerospace sector (gas turbines, structural re-entry thermal protection) and energy sector (heat exchangers, fusion reactor walls) owing to its exceptional oxidation and radiation resistance properties. Ceramic Matrix Composites consumption is dominated by Aerospace industry. The outbreak of COVID-19 has affected many industries including aerospace and as well as general economic activities. The implementation of lockdowns across various countries has severly affected the aerospace industry. Whereas the slump in economic activity has affected the development in the establishment of new industries, and expansions, which has a severe impact on consumption of Ceramic Matrix Composites thereby affecting the market studied
  • Over the short term,increasing application of ceramic matrix composites in defense sector along with the exceptional performance properties of ceramic matrix composites at very high temperatures are driving the market demand
  • On the flip side, higher cost of production as compared to other metals & alloys are estimated to hinder the growth of the market studied.
  • North America accounts for the highest share of the ceramic matrix composite market and is expected to witness the highest growth rate during the forecast period

Key Market Trends

SIC/SIC Ceramic Matrix Composites to Drive the Market Growth
  • SiC/SiC ceramic matrix composites are majorly used for in gas turbines and are major alternatives for metallic alloys.
  • In the recent years, SiC/SiC ceramic matrix composites application in energy & power industry has been increasing owing to its exceptional oxidation and radiation resistance properties.
  • For instance, there are 33 wind farms at various stages of development throughout South Africa, including these two giant projects. The country has more than 1,365 wind turbines generators equaling 3,672 MW installed capacity of which 2,020 MW is fully operational. Also, due to country’s national COVID-19 lockdown, the project commenced in March 2020, and construction at this Northern Cape wind farm was halted and picked up pace in May 2020.
  • Besides this, exceptional performance properties of these composites at very high temperatures further add to the advantage of using these composites for application in the energy & power sector.
  • Owing to such favourable properties, and growing investments in energy and power sector, the demand for SiC/SiC matrix composites is projected to dominate the Ceramic Matrix Composites Market during the forecast period despite of the temporary impact caused by COVID-19.

North America to Witness the Highest Growth Rate
  • North America accounts for the highest share of the global ceramic matrix composites market. Majority of the demand for the ceramic matrix comes from the end-user industries like aerospace & defense, energy, electrical & electronics, etc.
  • The aerospace & defense industry of the United States is the largest in the world. It is also the largest exporter of commercial aircrafts.
  • The United States has the largest aerospace industry in the world. According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 by 2037, from 7,397 in 2018. Moreover, the US mainliner carrier fleet is expected to grow at a rate of 54 aircraft per year, as the existing fleet has been becoming older.
  • Moreover, In November 2020, the Senate was planning an investment of about USD 1.7 billion to buy 17 more F-35 fighter jets for the military in FY 2021. The plan includes an order of 12 F-35As for the Air Force and five F-35Cs for the Navy and Marine Corps, for a total of 96 jets in FY 2021.
  • The growing investments in the defense and aerospace sector in the region are contributing to the growth of the ceramic matrix composite market in the country.
  • Hence, owing to the above-mentioned trends North America is likely to dominate the Ceramic Matrix Composites Market during the forecast period.

Competitive Landscape

The ceramic matrix composites market is moderately fragmented as the market share is divided between many players. Key players in the market include 3M, CeramTec, COI Ceramics, Inc., CoorsTek Inc., and GENERAL ELECTRIC, among others.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Application of Ceramic Matrix Composites in Defense Sector
4.1.2 Exceptional Performance Properties at Very High Temperatures
4.2 Restraints
4.2.1 Higher Cost of Production as Compared to Other Metals & Alloys
4.2.2 Impact of COVID-19 on the Market Studied
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Product Type
5.1.1 C/C Ceramic Matrix Composites
5.1.2 C/SIC Ceramic Matrix Composites
5.1.3 Oxide/Oxide Ceramic Matrix Composites
5.1.4 SIC/SIC Ceramic Matrix Composites
5.2 End-user Industry
5.2.1 Automotive
5.2.2 Aerospace
5.2.3 Defense
5.2.4 Energy & Power
5.2.5 Electrical & Electronics
5.2.6 Others
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom France Italy Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Applied Thin Films, Inc.
6.4.3 CeramTec
6.4.4 COI Ceramics, Inc.
6.4.5 CoorsTek, Inc.
6.4.6 General Electric
6.4.7 Kyocera Corporation
6.4.8 Lancer Systems LP
6.4.9 Rolls-Royce Plc
6.4.10 SGL Carbon Company
6.4.11 Starfire Systems, Inc.
6.4.12 Ube Industries, Ltd.
6.4.13 Ultramet, Inc.
7.1 Increasing R&D related to Ceramic Matrix Composites

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 3M
  • Applied Thin Films, Inc.
  • CeramTec
  • COI Ceramics, Inc.
  • CoorsTek, Inc.
  • General Electric
  • Kyocera Corporation
  • Lancer Systems LP
  • Rolls-Royce Plc
  • SGL Carbon Company
  • Starfire Systems, Inc.
  • Ube Industries, Ltd.
  • Ultramet, Inc.