Ceramic Matrix Composites Market worth $23.3 billion by 2029

(IT-NEWSWIRE.COM, October 17, 2019 ) The report "Ceramic Matrix Composites Market by Matrix Type (Oxide/Oxide, C/SiC, C/C, SiC/SiC), End-Use Industry (Aerospace & Defense, Automotive, Energy & Power, Industrial), Region (North America, Europe, APAC, Middle East & Africa,) - Global Forecast to 2029" The ceramic matrix composites market size is expected to grow from USD 9.4 billion in 2019 to USD 23.3 billion by 2029, at a CAGR of 9.5% during the forecast period. The market is witnessing significant growth because of the growing demand from various end-use industries such as aerospace & defense, automotive, and industrial. Ceramic matrix composites have properties such as high strength at elevated temperature, corrosion resistance, durability, mechanical strength, and high-temperature stability.

Download PDF brochure of Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=60146548

Aerospace & defense industry accounted for the largest share, in terms of value, of the overall ceramic matrix composites market in 2019.

The aerospace & defense end-use industry demands ceramic matrix composites in various aero-engine components, missile components, and space structures, among others. These composites are mainly used for their superior properties such as high damage tolerance, fracture toughness, wear & corrosion resistance at high temperature. The lightweight and high-temperature resisting properties of ceramic matrix composites help manufacturers in increasing the overall efficiency of aircraft by reducing fuel consumption and in lowering emissions.

C/SiC ceramic matrix composite is the fastest-growing segment in the overall market.

Ceramic matrix composites are available in four matrix types, namely, C/C, C/SiC, oxide/oxide, and SiC/SiC. C/SiC matrix composites are expected to register the highest CAGR during the forecast period as these composites are used in various applications such as disk brakes, leap engine components, nose cap of thermal protection system, and rocket launch vehicle (RLV) propulsion applications, among others.

Don't miss out on business opportunities in Ceramic Matrix Composites Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=60146548

Browse 81 market data Tables and 39 Figures spread through 127 Pages and in-depth TOC on "Ceramic Matrix Composites Market by Matrix Type”

North America is expected to be the largest market for ceramic matrix composites during the forecast period.

North America is one of the leading ceramic matrix composites markets. The growing demand from end-use industries such as aerospace & defense, automotive, and energy & power is driving the ceramic matrix composites market in the region. The region has a presence of major ceramic matrix composites manufacturers who focus on the adoption of various business strategies to increase the production of ceramic matrix composites and meet the growing demand from end users. For instance, General Electric Company invested USD 105 million for establishing two new facilities for manufacturing ceramic matrix composites in North Carolina.

Some of the prominent players in the ceramic matrix composites market are General Electric Company, Rolls-Royce, SGL Carbon, United Technologies, COI Ceramics, Lancer Systems, CoorsTek, Applied Thin Films, Ultramet, and CFC Carbon. The strategies undertaken by these players include partnerships, new product developments, and expansions.

Get this report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=60146548

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

360Quadrants

Mr. Shelly Singh

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com

Technology News & Search Engine

Ceramic Matrix Composites Market worth $23.3 billion by 2029