Global Ceramic Matrix Composites Market Size, Share, Development, Growth and Demand forecast to 2023 By P&S Market Research

The global market for ceramic matrix composites (CMC) is estimated to rise during the forecast period (2017-2023) on account of high temperature stability, fuel efficiency, low weight and high strength coupled with increasing demand from the aerospace and defense industries. Additionally, the demand in automotive, aerospace and defense industries is driven by the government regulations focusing on the practice of lightweight and fuel-efficient materials. Enhanced performance and robust structures are driving the ceramic matrix composites market in applications such as electronics, thermal management, aerospace and defense.

Ceramic matrix composites are materials wherein one or more distinct ceramic phases are attached to one another for enhancing the properties which are not present in monolithic ceramic materials. CMCs operate at a temperature beyond the competence of nickel alloys present in high-pressure turbines, and they do not require extensive cooling, providing an enhancement to the cycle.
The ceramic matrix composite market is segmented on the basis of matrix type, application type and region. By matrix type, CMCs includes carbon/carbon, oxide/oxide, Silicon Carbide/Silicon Carbide. Carbon/Carbon ceramic matrix composites are a group of materials consisting of carbon or graphite matrix reinforced to other carbon or graphite fibers, thus bringing an increase in strength, versatility and toughness of composites. Carbon/Carbon ceramic matrix composite market is expected to grow at a high compound annual growth rate (CAGR) due to their light weight, high friction and temperature resistant properties that can be utilized in wide-body commercial aircraft and braking systems in aerospace and automotive industry. 
The global market for ceramic matrix composite, on the basis of region, is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa (MEA). The CMC market in North America is projected to grow due to rising demand of lightweight and fuel efficient materials in aerospace and defense industries. Asia-Pacific is estimated to be the fastest growing market in global ceramic matrix composites on account of the rising aerospace and defense sectors in the region coupled with increasing developments of power stations and nuclear plants.
One of the major restraints of ceramic matrix composites include the high costs of matrix production by batch process at high temperature that limits their applications to niche segments. The high customization requirements for end use applications such as gas turbine engines, brake discs, and heat exchangers would further hamper the market for ceramic matrix composites during the forecast period.
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