The global market value of ceramic matrix composites was $870 million in 2010, according to “Ceramic Matrix Composites: Technologies and Global Markets,” a new study from BCC Research. That value is projected to reach nearly $1.3 billion in 2015 as it increases at a five-year compound annual growth rate (CAGR) of 8.3%.

The ceramic matrix composites market can be broken down into four segments: mechanical/chemical, energy and environmental, aerospace and defense, and others. The mechanical/chemical segment was valued at nearly $315 million in 2010, and in 2015 should be worth $466 million, yielding a CAGR of 8.2%. The energy and environmental segment, worth $277 million in 2010, should rise in 2015 to $394 million at a CAGR of 7.3%. The segment made up of aerospace and defense was worth $158 million in 2010, and in 2015 is expected to be worth $213 million, a CAGR of 6.1%. The others segment was worth $120 million in 2010, and in 2015 should be worth $222 million, a CAGR of 13.1%

Ceramic materials are made up of two major types, monolithic and composite. Monolithics are brittle, while composites are made with a reinforcing phase that improves the material’s mechanical properties such as thermal shock resistance and toughness.

The ceramic matrix composite global market declined from 2008 to 2009, but rose again in 2010. Having previously experienced healthy growth, the market is expected to experience more moderate growth over the next five years as a result of the recent global economic downturn.

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