Ceramic matrix composites (CMCs) are used extensively in the aerospace industry. This is ascribed to the high strength-to-weight ratio and the excellent mechanical characteristics of these materials. Because of these properties, CMCs are heavily used in power transmission lines, high-speed machine components and parts, helicopter rotor blade sleeves, jet engine fans, and fighter aircraft ventral fins. Moreover, with the surging aircraft manufacturing in several countries, especially in the European countries, the demand for CMCs is skyrocketing across the world.
As ceramic matrix composites are extremely lightweight and provide stiffness, high strength-to-weight ratio, wear resistance, and durability, they are being extensively used in aircraft manufacturing processes. Additionally, the usage of nano-composites in place of the traditionally used materials not only increases the overall efficiency and reliability of the manufacturing process but also reduces the mass of the aircraft. Apart from being heavily used in the aerospace industry, ceramic matrix composites are also extensively used in the defense sector.
The other major application area of these materials is the energy and power sector. With the mushrooming sales of these materials, the global ceramic matrix composites market is set for rapid expansion in the future years. The valuation of the market is predicted to grow from $1,891.3 million in 2015 to $6,006.1 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 13.7% between 2016 and 2024.
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Globally, the ceramic matrix composites market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This will be primarily because of the mushrooming requirement for CMCs, on account of the increasing energy consumption, the soaring defense expenditure, and the surging investments being made in several space exploration projects in the emerging economies such as India and China.
Therefore, it is quite clear that the sales of ceramic matrix composites will boom all over the world in the coming years, primarily because of their rising usage in the aerospace, defense, and automotive industries.
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