November 02, 2016
Wellesley, Mass., 2 Nov, 2016 – The market for ceramic matrix composites (CMCs) has been rapidly expanding due to new technological developments, spurring significant industry changes. BCC Research reveals in its new report that among these changes, carbon matrix materials (CAMCs) are emerging as an important category of composites for industrial applications.
Composite materials, generally defined as a combination of two or more different materials, are classified by two main categories: filler-based and laminar. Polymer matrix composites (PMCs) represent the largest share of this market at 48.1% of the total, followed by laminates (38.2%), sandwich structures (10.9%), CAMCs (1.6%), and CMCs (1.0%), whereas metal matrix composites (MMCs) and hybrid composites represent negligible shares by comparison.
The global market for ceramic and carbon matrix composites should grow from $3.9 billion in 2016 to nearly $6.2 billion by 2021, demonstrating a five-year compound annual growth rate (CAGR) of 9.4%. The aerospace and defense sector, the largest market segment, should reach nearly $2.3 billion and $3.5 billion in 2016 and 2021, respectively, expressing a five-year CAGR of 9.1%.
Carbon matrix composites and CMCs may represent a relatively small combined share of the global composite market (2.6% of the total), but their utilization is growing at a faster rate as compared to other categories of composites. Demand for these materials should continue to grow rapidly due to a variety of factors, including their unique properties, the migration of certain applications from pilot production to mass production, the introduction of new materials with enhanced properties, and high levels of research and development activity.
Both CMCs and CAMCs find applications in various industry sectors, including mechanical/chemical, energy and environmental, aerospace and defense, transportation, medical and dental, electronics, and sensors and instrumentation. Aerospace and defense, energy and environmental, and mechanical/chemical are three key sectors that should contribute to market demand.
"Within these three sectors, CMCs and CAMCs are primarily used for their wear, corrosion, and high-temperature resistance," says BCC Research analyst Margareth Gagliardi. "They're also used in the fabrication of products such as engine components, thermal shields, cutting tools, friction products, and furnace elements. Sales of CMCs and CAMCs for the aerospace and defense sectors should reach global revenues of nearly $2.3 billion in 2016, or 57.4% of the total market, whereas the energy and environmental sector accounts for 16.3% of the market, and the mechanical/chemical sector for 14.5% of the total."
Ceramic Matrix Composites and Carbon Matrix Composites: Technologies and Global Markets (AVM014E) analyzes ceramic matrix composites and carbon matrix composites, focusing on materials and fabrication technologies. The report also examines new and emerging applications, and highlights recent key technological advances. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.
Ceramic Matrix Composites and Carbon Matrix Composites: Technologies and Global Markets( AVM014E )
Publish Date: Oct 2016
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