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3. General Electric Company and Rolls-Royce are the Key Players in the Ceramic Matrix Composites Market

The ceramic matrix composites market size is estimated to be USD 9.4 billion in 2019 and is projected to reach USD 23.3 billion by 2029, at a CAGR of 9.5% between 2019 and 2029. Owing to their superior performance properties such as low fracture toughness, brittleness, and thermal shock resistance over traditional metals, and alloys, ceramic matrix composites are gaining increased demand in various industries such as aerospace & defense, automotive, energy & power, and industrial.

The major ceramic matrix composites manufacturers are General Electric Company, Rolls-Royce, SGL Carbon, United Technologies, COI Ceramics, Lancer Systems, CoorsTek, Applied Thin Films, Ultramet, and CFC Carbon. These players have adopted various growth strategies, such as partnership, expansions, and new product developments, to expand their presence in the market further. Investment & expansion was the most-common strategy adopted by the major players from 2015 to 2018 which helped them to increase their product offerings and broaden their customer base.

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General Electric Company is a well-established company in the global ceramic matrix composites market. The company possesses a wide product portfolio of basalt fiber. It is constantly engaged in providing high-grade ceramic matrix composites. As a part of its growth strategy, it is highly focused on investment & expansion. For instance, in 2018, the company invested USD 105 million to construct two ceramic matric composites manufacturing plants in North Carolina.

Rolls-Royce PLC is a major manufacturer and producer of ceramic matrix composites. The company is mainly focused on new partnership and expansion as its major growth strategies. In 2016, the company invested USD 30 million for expanding its production of ceramic matrix composites materials and processes in South California. It helps the company in developing lighter and stronger fibers for aircraft. Recently, the company, in partnership with Liebherr-Aerospace (France), launched power gearbox (PGB) for the UltraFan engine design. The product offer heat-resistant components due to the use of advanced ceramic matrix composites that work more effectively and require less cooling air. Through these strategies, Rolls-Royce PLC would be able to increase its market share and maintain a huge customer base in the ceramic matrix composites market.

Related Reports:

Ceramic Matrix Composites Market by Matrix Type (Oxide/Oxide, C/SiC, C/C, SiC/SiC), End-Use Industry (Aerospace & Defense, Automotive, Energy & Power, Industrial), Region (North America, Europe, APAC, Middle East & Africa,) - Global Forecast to 2029

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