Materials Market Research Reports Ceramic Matrix Composites (CMC) Market

Ceramic Matrix Composites (CMC) Market is
expected to reach USD 6.0 billion by 2024
“This report is segmented into several key Regions,
with production, consumption, revenue (million USD)
and market share and growth rate of Ceramic Matrix
Composites (CMC) Market 2024.”
The global ceramic matrix composites (CMC) market is expected to reach USD 6.0 billion by
2024, according to a new report by Grand View Research, Inc. High thermal stability and electrical
conductivity have made ceramic matrix composites desirable in various thermal management
applications where high efficiency and weight to strength ratio is required. CMCs observe strong
demand from aerospace, defense, energy & power, etc. applications. Lower weight than
conventional alloys with high strength and improved stability at a higher temperature has made the
CMCs popular choice. They are subjected to constant research efforts that focus on the progressive
increase in product life, strength and thermal stability. The high cost of ceramic fibers has greatly
influenced the market growth. Unlike the carbon fiber, which is used in most of the metal and
polymer composites and thus is produced in bulk, other ceramic fibers are produced in small
quantity which refrains it from the cost benefits of mass production. Ceramic matrix composites
production being an energy-intensive process, it adds up to the final product cost, making it useful
only in high-end applications such as aerospace, defense, thermal management, etc.
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