Subject: SVY
Ceramic Matrix Composites Market is Anticipated to Reach US$ 6,500 Million by 2026, States TMR
ALBANY, New York, March 16, 2018 /PRNewswire/ --
Technological flexibility and research & development are indispensable focus areas for companies manufacturing ceramic matrix composites (CMCs), owing to changing customer demands with evolving trends, rapid transformations in technologies, and intense market competition. Manufacturers are focusing on the development of application-specific products with sturdy structures, higher comfort, and improved performance, for use in high-end sports equipment, electronics, and thermal management.
A new report of Transparency Market Research has identified & profiled key companies that make significant contribution to growth of the ceramic matrix composites market, which include Specialty Materials, Inc., Ultramet, CoorsTek, CeramTec, COI Ceramics, Clariant Corporation (KiON Corporation), and Lancer Systems, LP. Most of the market players are integrated all around the supply chain. These manufacturers have a technological benefit over others, as the raw materials and production technologies selected for the production of ceramics greatly influence the inherent properties and prices of final products.
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Sufficient Capital Requirement - Significant Entry Barrier for Niche Companies
The report envisages the global ceramic matrix composites market to ride on a spectacular CAGR over the period of forecast, 2017 to 2026. Global sales of ceramic matrix composites are evaluated to exceed US$ 6,500 Mn in revenues by 2026-end.
Various multinational industries are tapping into developing markets for catering robust requirement for CMCs across multiple applications. As ceramic matrix composites form a vital part of the manufacturing sector, the marketing and supply chain management activities account for significant portion of revenues generated by the market players. For niche companies, sufficient capital requirement stands as the most crucial as well as a significant barrier to their entry into the market. Leading manufacturers engulf well-established business intelligence units, which are responsible for collection of valuable & vital information on the customer behavior and experience.
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High Cost of CMCs Confining their Use to High-End Applications
Energy-intensive procedures of ceramic matrix composites production result into high cost of finished products, which confines their lucrativeness to high-end applications viz. defense, thermal management, and aerospace. Ceramic fibers, produced in demand-specific quantities, do not impart benefits of mass production. Nevertheless, advancements in metal joining and mining technologies are set to curtail the development cost of CMCs in the near future.
Conversion procedures involves in ceramic matrix composite manufacturing entail significant energy consumption, which in turn has led technology providers to take efforts in developing energy-efficient manufacturing processes. Developed nations are aiding the relevant R&D activities via joint ventures and public-private partnerships.
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Key Takeaways from TMR's Report on Ceramic Matrix Composites Market
- Ceramic matrix composite market will observe the largest revenue generation in Asia-Pacific excluding Japan (APEJ), in light of surplus raw material sources and low-waged labor available in the region's developing nations such as China and India. Revenues from CMC sales in Europe and North America will also remain significant, and are collectively estimated to account for over one-third revenue share of the global market by 2026-end.
- Based on product type, SiC/SiC and oxides/oxides composites will remain preferred among end-use industries in the ceramic matrix composites market. Revenues from carbon/carbon composites will however increase at a comparatively higher CAGR than those from SiC/SiC and oxides/oxides segment through 2026.
- Automotive end-use industries are likely to remain dominant in the market, in terms of revenues, trailed by aerospace & defense. Electrical & electronics, and energy & power end-use industries are set to register a relatively faster growth in the market through 2026.
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