Ceramic Matrix Composites Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.25 Billion |
| Market Size (2029) | USD 9.59 Billion |
| CAGR (2024 - 2029) | 8.95 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Ceramic Matrix Composites Market Analysis
The Ceramic Matrix Composites Market size is estimated at USD 6.25 billion in 2024, and is expected to reach USD 9.59 billion by 2029, growing at a CAGR of 8.95% during the forecast period (2024-2029).
- Over the short term, the increasing application of ceramic matrix composites in the defense sector, along with the rising demand for lightweight vehicles, is driving the market’s demand.
- On the flip side, higher costs of production compared to other metals and alloys are estimated to hinder the growth of the market studied.
- A significant increase in R&D in the field of ceramic matrix composites is further expected to offer ample growth opportunities to the key players operating in this market.
- 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.
Ceramic Matrix Composites Market Trends
SIC/SIC Ceramic Matrix Composites to Drive the Market Growth
- SiC/SiC ceramic matrix composites are used mainly in gas turbines and are significant alternatives for metallic alloys.
- In recent years, the application of SiC/SiC ceramic matrix composites in the energy and power industry has increased owing to their exceptional oxidation and radiation resistance properties.
- According to the US Energy Information Administration (EIA), utility-scale electricity generation facilities in the United States produced approximately 4,178 billion kilowatt-hours (kWh) of electricity in 2023. Fossil fuels, including coal, natural gas, and petroleum, accounted for 60% of this total. Nuclear energy contributed 19%, while renewable sources made up the remaining 21%.
- According to Bangladesh's Sustainable and Renewable Energy Development Authority (SREDA), the country's total installed power capacity is 26,007 megawatts (MW), consisting of 1,768 MW of coal power plants, 11,476 MW of gas power plants, and 1,183.71 MW of renewable sources.
- According to the International Trade Administration (ITA), the demand for electricity in Bangladesh is projected to reach 50,000 megawatts (MW) by 2041.
- Besides this, the exceptional performance properties of these composites at very high temperatures further add to the advantage of being used for applications in the energy and power sector.
- Owing to such favorable properties and growing investments in the energy and power sector, the demand for SiC/SiC matrix composites is projected to dominate the ceramic matrix composites market during the forecast period.
North America to Witness the Highest Growth Rate
- North America accounts for the highest share of the global ceramic matrix composites market. The majority of the demand for ceramic matrices comes from end-user industries such as aerospace and defense, energy, and electrical and electronics.
- The US aerospace and defense industry is the largest in the world. It is also the largest exporter of commercial aircraft.
- According to the Federal Aviation Administration (FAA), boosted by the sharp recovery in demand for air travel and cargo, the number of aircraft in the commercial fleet grew by 0.2% during 2022-2023. Additionally, US airline enplanements are estimated to grow by 2.4% per year over the next 20 years to USD 1.32 trillion in 2044 compared to USD 922 billion in 2023, with the US mainline jet fleet to grow from 4,832 in 2023 to 6,894 in 2044.
- The total number of commercial aircraft is forecasted to increase from 6,852 in 2022 to 10,286 in 2043, with an average annual growth rate of 2.0% annually. Between 2022 and 2043, the number of jets in the mainline carrier fleet is forecasted to grow from 3,915 to 5,925, a net average of 96 aircraft annually. The cargo carrier’s large jet aircraft fleet is forecast to increase from 935 in 2022 to 1,974 in 2043.
- According to the Aerospace Industries Association of Canada (AIAC), the aerospace sector contributed CAD 27 billion to the country’s GDP, and the Canadian aerospace manufacturing industry exported nearly CAD 18.7 billion.
- Growing investments in the region's defense and aerospace sectors are contributing to the growth of the country's ceramic matrix composite market.
- Hence, owing to the above-mentioned trends, North America is likely to dominate the ceramic matrix composites market during the forecast period.
Ceramic Matrix Composites Industry Overview
The ceramic matrix composites market is moderately fragmented as the market share is divided between many players. The major players (not in any particular order) include 3M, CeramTec, COI Ceramics Inc., CoorsTek Inc., and General Electric.
Ceramic Matrix Composites Market Leaders
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3M
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CeramTec
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COI Ceramics, Inc.
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CoorsTek Inc.
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GENERAL ELECTRIC
*Disclaimer: Major Players sorted in no particular order
Ceramic Matrix Composites Market News
The recent developments pertaining to the major players in the market are being covered in the complete study.
Ceramic Matrix Composites Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Application of Ceramic Matrix Composites in Defense Sector
- 4.1.2 Rising Demand for Lightweight Vehicles
- 4.1.3 Other Restraints
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4.2 Restraints
- 4.2.1 Higher Cost of Production as Compared to Other Metals & Alloys
- 4.2.2 Other Restraints
- 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. MARKET SEGMENTATION (Market Size in Value)
-
5.1 By 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
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5.2 By End-user Industry
- 5.2.1 Automotive
- 5.2.2 Aerospace
- 5.2.3 Defense
- 5.2.4 Energy and Power
- 5.2.5 Electrical and Electronics
- 5.2.6 Other End-user Industries
-
5.3 By Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Malaysia
- 5.3.1.6 Thailand
- 5.3.1.7 Indonesia
- 5.3.1.8 Vietnam
- 5.3.1.9 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Spain
- 5.3.3.6 Turkey
- 5.3.3.7 Russia
- 5.3.3.8 Nordic Countries
- 5.3.3.9 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Colombia
- 5.3.4.4 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 Nigeria
- 5.3.5.3 Qatar
- 5.3.5.4 Egypt
- 5.3.5.5 United Arab Emirates
- 5.3.5.6 South Africa
- 5.3.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Applied Thin Films Inc.
- 6.4.3 CeramTec GmbH
- 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.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing R&D related to Ceramic Matrix Composites
Ceramic Matrix Composites Industry Segmentation
Ceramic matrix composites (CMCs) consist of ceramic fibers embedded within a ceramic matrix. Engineered to bolster the toughness and durability of inherently brittle ceramics, CMCs merge the high-temperature resistance and hardness of traditional ceramics with superior mechanical properties. These enhancements include heightened toughness and a pronounced resistance to thermal shock, positioning CMCs as ideal candidates for extreme environments.
The ceramic matrix composites market is segmented by product type, end-user industry, and geography. By product type, the market is segmented by C/C ceramic matrix composites, C/SIC ceramic matrix composites, oxide/oxide ceramic matrix composites, and SIC/SIC ceramic matrix composites. By end-user industry, the market is segmented into automotive, aerospace, defense, energy and power, electrical and electronics, and other end-user industries. The report also covers the market size and forecasts for ceramic matrix composites in 27 countries across major regions. For each segment, the market sizing and forecasts were made on the basis of value (USD).
| By Product Type | C/C Ceramic Matrix Composites | |
| C/SIC Ceramic Matrix Composites | ||
| Oxide/Oxide Ceramic Matrix Composites | ||
| SIC/SIC Ceramic Matrix Composites | ||
| By End-user Industry | Automotive | |
| Aerospace | ||
| Defense | ||
| Energy and Power | ||
| Electrical and Electronics | ||
| Other End-user Industries | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Malaysia | ||
| Thailand | ||
| Indonesia | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Turkey | ||
| Russia | ||
| Nordic Countries | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| By Geography | Middle East and Africa | Saudi Arabia |
| Nigeria | ||
| Qatar | ||
| Egypt | ||
| United Arab Emirates | ||
| South Africa | ||
| Rest of Middle East and Africa |
Ceramic Matrix Composites Market Research FAQs
How big is the Ceramic Matrix Composites Market?
The Ceramic Matrix Composites Market size is expected to reach USD 6.25 billion in 2024 and grow at a CAGR of 8.95% to reach USD 9.59 billion by 2029.
What is the current Ceramic Matrix Composites Market size?
In 2024, the Ceramic Matrix Composites Market size is expected to reach USD 6.25 billion.
Who are the key players in Ceramic Matrix Composites Market?
3M, CeramTec, COI Ceramics, Inc., CoorsTek Inc. and GENERAL ELECTRIC are the major companies operating in the Ceramic Matrix Composites Market.
Which is the fastest growing region in Ceramic Matrix Composites Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Ceramic Matrix Composites Market?
In 2024, the North America accounts for the largest market share in Ceramic Matrix Composites Market.
What years does this Ceramic Matrix Composites Market cover, and what was the market size in 2023?
In 2023, the Ceramic Matrix Composites Market size was estimated at USD 5.69 billion. The report covers the Ceramic Matrix Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ceramic Matrix Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Ceramic Matrix Composites Industry Report
Statistics for the 2024 Ceramic Matrix Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Ceramic Matrix Composites analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
