Zion Market Research Global Ceramic Matrix Composites Market, 2016-2024 | Page 3

Ceramic Matrix Composites Market
Ceramic matrix composites provide high strength, temperature stability, and lower weight;
these properties have increased their popularity globally. Owing to the presence of high
thermal stability and electrical conductivity, they can be used in the several electronic and
thermal management applications, which is anticipated to boost the global ceramic matrix
composites market growth. In addition, accelerating demand for ceramic matrix composites
from aerospace industry is expected to boost the global market growth. Many multinational
companies are largely investing in the developing regions to meet the rising demand for
these compounds. GE Aviation is one of the biggest manufacturers of jet and marine
engines, which is largely spending over R&D of ceramic matrix composites for
manufacturing aircraft engines. Currently, high capital is needed for the batch processes at
high temperatures; hence, companies are focusing on the cost-efficient generation of the
matrix. This may influence the global ceramic matrix composites market in a positive way.
Global Ceramic Matrix Composites Market: Segmentation
The global ceramic matrix composites market is categorized based on applications as
automotive, aerospace & defense, electrical & electronics, energy & power, and others. On
the basis of the type, the global market is classified as silicon carbide, carbon, oxide, and
others. Of these, silicon carbide matrix composites are the leading segment in the global
market. Owing to the presence of higher oxidation resistance as compared to carbon, matrix
composites are preferred for aerospace applications. Due to improved properties of oxide,
compounds including high fracturing toughness, no oxidation, and the less expensive
production process, these witness high demand from energy & power, aerospace, and
defense applications.