Ceramic Matrix Composites Market to Top $6.5 Billion in 2026
Based on product type, SiC/SiC and oxides/oxides composites will remain preferred among end-use industries.
The global ceramic matrix composites (CMCs) market is expected to grow at a strong compound annual growth rate (CAGR) from 2017-2026, according to a recent report from Transparency Market Research, with global sales projected to exceed $6.5 billion by the end of 2026. Technological flexibility and research and development are indispensable focus areas for companies manufacturing CMCs, due to changing customer demands with evolving trends, rapid transformations in technologies, and intense market competition. Manufacturers are focusing on the development of application-specific products with sturdy structures, higher comfort, and improved performance for use in high-end sports equipment, electronics, and thermal management.
Various multinational industries are tapping into developing markets for catering robust requirement for CMCs across multiple applications. As CMCs form a vital part of the manufacturing sector, marketing and supply chain management activities account for significant portion of revenues generated by the market players. For niche companies, sufficient capital requirements represent the most crucial and significant barrier to their entry into the market. Leading manufacturers engulf well-established business intelligence units, which are responsible for collection of valuable information on the customer behavior and experience.
Energy-intensive procedures involved with the production of CMCs result in high costs for finished products, which confines their use to high-end applications (e.g., defense, thermal management and aerospace). Ceramic fibers, produced in demand-specific quantities, do not impart benefits of mass production. Nevertheless, advancements in metal joining and mining technologies are set to curtail the development costs of CMCs in the near future.
The CMC market will observe the largest revenue generation in Asia-Pacific, excluding Japan, in light of surplus raw material sources and low-waged labor available in the region’s developing nations (e.g., China and India). Revenues from CMC sales in Europe and North America will also remain significant, estimated to collectively account for over one-third of the global revenue share by the end of 2026.
Based on product type, SiC/SiC and oxides/oxides composites will remain preferred among end-use industries. However, revenues from carbon/carbon composites will increase at a comparatively higher CAGR than those from SiC/SiC and oxides/oxides segment through 2026.
In terms of revenue, automotive end-use industries are likely to remain dominant in the market, followed by aerospace and defense. The electrical/electronics and energy/power end use industries are set to register a relatively faster growth in the market through 2026.
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