The ceramic matrix composites market is projected to grow from USD 9.4 billion in 2019 to USD 23.3 billion by 2029, at a CAGR of 9.5 % between 2019 and 2029.
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Browse 81 market data Tables and 39 Figures spread through 127 Pages and in-depth TOC on “Ceramic Matrix Composites Market”
Incorporation of low-cost production technologies
Nowadays, there is an increased demand for lightweight armors and engine components, where the use of low-weight composite is critical. Moreover, companies are trying to build fuel-efficient aircraft, particularly in North America and Europe. Therefore, the production of new aircraft engines during the forecast period is anticipated to drive the demand for more ceramic matrix composite components (especially oxide/oxide composites).
Other than the aerospace industry, defense equipment manufacturers are concentrating on manufacturing lightweight and high-fracture toughness armors and vehicles. Manufacturers are developing lightweight ceramic matrix composites, which increase the efficiency of vehicles along with their security.
Presently, the key barrier is the high cost of raw and fabricated materials. New technologies are being developed to manufacture ceramic matrix composites having a wide range of exceptional properties and increased capability of providing structural efficiency at lower weights as compared to the current technology. The development of new technologies is anticipated to cut the cycle time and to reduce the manufacturing cost of composites. The advancement in its production technology is expected to offer opportunities for growth to the market players.
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Issues related to reparability and recyclability
The damage to ceramic matrix composite structures is hard to find. It is very difficult to find any internal cracks or wear & tear in the components made of ceramic matrix. The defect in ceramic matrix composites can lead to catastrophic failure of the component. The lack of skilled manpower and proper techniques for repair further aggravate the issue of reparability. However, increasing awareness regarding ceramic matrix composites repairing techniques and increasing number of skilled manpower will lower the impact in the near future. Though they have a long-life span, these components cannot be recycled for use in the same application.
Composites Marketby Fiber Type (Glass, Carbon), Resin Type (Thermoset, Thermoplastic), Manufacturing Process (Layup, Filament Winding, Pultrusion), Application (Transportation, Aerospace & Defense, Wind Energy), Region – Global Forecast to 2022
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