The ceramic matrix composites market is projected to grow from USD 11.9 billion in 2022 to USD 21.6 billion by 2028, at a CAGR of 10.5% during the forecast period. Ceramic matrix composites (CMCs) are a type of advanced material that consist of a ceramic matrix reinforced with ceramic fibers. They are designed to overcome the brittleness and low tensile strength typically associated with traditional ceramics by incorporating high-strength fibers into the matrix. It is a lightweight, durable, and corrosion-resistant material widely used in the automotive, and aerospace, industries. These advantages help to reduce maintenance costs, increase equipment lifespan, and improve operational efficiency. These factors are projected to fuel market development in the upcoming years.
Major manufacturers in this market are based in North America and Europe. General Electric (US), Rolls-Royce PLC (UK), SGL Carbon (Germany), Raytheon Technologies Corporation (US), Axiom Materials Inc. (US), CoorsTek (US), Lancer Systems (US), COI Ceramics (US), Applied Thin Films (US), Ultramet (US), are among a few leading players operating in the ceramic matrix composites market. Major focus was given to the development of new manufacturing processes for ceramic matrix composites and recent deals due to the changing requirements across the world. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the ceramic matrix composites market further.
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General Electric (US)
General Electric (GE) is a multinational conglomerate company headquartered in Boston, Massachusetts, USA. It operates in various industries, including aviation, healthcare, power, renewable energy, and digital technology. General Electric is known for its innovative products and solutions across different sectors.
One of the notable areas where GE has utilized Ceramic Matrix Composites (CMCs) is in the field of aviation, specifically in the development of next-generation jet engines. GE Aviation, a subsidiary of General Electric, has been a pioneer in using CMCs to enhance engine performance and efficiency. The use of CMCs in jet engines allows for higher operating temperatures, improved fuel efficiency, and reduced emissions.
Rolls-Royce PLC (UK)
Rolls-Royce PLC is focused on power and propulsion systems. It is a diversified company primarily engaged in the manufacturing of highly efficient and integrated engine systems for applications in the aerospace, defense, power systems, and nuclear sectors. The company’s advanced composite products are used for applications such as turbine and aerospace systems. It is recognized as a key player offering power systems and services for use on land, at sea, and in the air. The company has a geographical presence in Europe, North America, and Asia Pacific. It has a ceramic matrix composites production facility in Southern California (US).
SGL Carbon (Germany)
SGL Carbon is a carbon products-based company in Germany. The company is primarily engaged in the manufacturing and marketing of carbon-based products ranging from carbon and graphite products to carbon fibers and composites. It manages its business through two business units, namely, graphite materials & systems and composites fibers & materials. It operates in six business segments, namely, chemical, mobility, energy, digitization, industrial application, and textile fibers. The company offers ceramic matrix composites products through its composite fibers & materials segment. It offers advanced ceramic matrix composites for applications such as aerospace structural components, semiconductor technology, and other high-temperature applications. The company has a geographical presence mainly in Asia, Europe, and North America.
Ceramic Matrix Composites Market by Matrix Type (C/C, C/Sic, Oxide/Oxide, Sic/Sic), Fiber Type (Continuous, Woven), End-use Industry (Aerospace and Defense, Automotive, Energy and Power, Industrial), and Region - Global Forecasts to 2028
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