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Ceramic Matrix Composites Market size is forecast to reach US$16.3 billion by 2027, after growing at a CAGR of 10.8% during the forecast period 2022-2027. The rapid growth of the aerospace industry in developing economies, as well as an increase in demand for ceramic matrix composites due to their low weight, high friction, and temperature-resistant properties, are driving the ceramic matrix composites market forward.

Ceramic Matrix Composites Market size is forecast to reach US$16.3 billion by 2027, after growing at a CAGR of 10.8% during the forecast period 2022-2027. Ceramic matrix composites (CMCs) are a type of composite material made up of ceramic fibers embedded in a ceramic matrix. In comparison to conventional technical ceramics, CMCs based on alumina fibers, carbon fibers, aluminium nitride fibers, zirconia fibers, and silicon carbide fibers (sic) have improved crack resistance and do not easily rupture under heavy loads. The Ceramic Matrix Composites Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

The top 5 players in the Ceramic Matrix Composites industry are –

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1. Silicon Carbide Reinforced Silicon Carbide (SiC/SiC) segment held the largest share in the ceramic matrix composites market in 2021 and is forecasted to grow at a CAGR of 10.2% during the forecast period 2022-2027.

2. Aerospace & Defense segment held the largest share in the ceramic matrix composites market in 2021 and is forecasted to grow at a CAGR of 12.4% during the forecast period 2022-2027. 

3. North American region held the largest share in the ceramic matrix composites market in 2021 up to 37%, owing to the increasing demand for ceramic matrix composites from the growing aerospace & defense industry in North America.

4. According to the Federal Aviation Administration (FAA). Furthermore, as the existing fleet ages, the US mainliner carrier fleet is expected to grow at a rate of 54 aircraft per year.

5. According to the Boeing Commercial Market Outlook 2021-2040, North America will require 9,160 new airplane deliveries by the end of 2040, and airline fleet growth in North America is expected to be 1.7 percent between 2019 and 2040.

Silicon Carbide Reinforced Silicon Carbide (SiC/SiC), Carbon Reinforced Carbon (C/C), Oxide-Oxide (OX/OX), and Carbon/Silicon Carbide (C/SiC)

Valves, Burners, Gas Turbines, Brake Systems, Exhaust Systems, Heat Exchangers, Hypersonic Vehicles, Fusion Reactor Walls, Refractory Components, Engine Exhaust Systems, Rocket Propulsion Components

Aerospace & Defense, Automotive, Energy Generation, Electrical & Electronics

North America, Europe, Asia-Pacific, South America and Rest of World

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1. Increasing Automotive Production: The advancement of the modern automotive industry necessitates a decrease in exhaust emissions, fuel consumption, and vehicle weight while simultaneously increasing vehicle safety and performance.

2. Increasing Demand from Wind Energy Sector: Turbine blades are made of next-generation ceramic matrix composites (CMCs).

3. High Cost Associated with Ceramic Matrix Composites: Ceramic matrix composites are more expensive than other metals and alloys that have been used for similar applications in the past.

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https://www.industryarc.com/Research/Technical-Ceramics-Market-Research-500251

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Media Contact Company Name: IndustryARC Contact Person: Mr. Venkat Reddy Email: Send Email Phone: (+1) 970-236-3677 Address:Madhapur City: Hyderabad Country: India Website: https://www.industryarc.com/Research/Ceramic-Matrix-Composites-Market-Research-510953

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