The total size of the ceramic matrix composites market was USD 3,090 million in 2022, and it will reach USD 7,596 million by 2030, powering at a rate of 11.90% in the years to come, as per a report by a market research firm, P&S Intelligence.
The oxide category had the largest revenue share, of 31%, in the past, and it will maintain its dominance in the years to come.
Furthermore, the enhanced properties of oxide composites, for example no oxidation, high fracturing durability, and less expensive production procedures, will trigger the requirement for defense, aerospace, and energy & power applications.
Aerospace had the largest share, of 37%, and it will maintain its dominance in the years to come. This can be credited to the high requirement for CMCs for the making of jet engine fans, helicopter rotor blade sleeves, and other aircraft components.
North American ceramic matrix composites market had the largest share, of about 46%, in the recent past and it will continue dominating in the future . This is credited to the presence of a large count of industry giants, deep-rooted energy & power sector, high acceptance rate of cutting-edge technology, and increase in the spending on R&D to develop new aviation products.
Europe had a significant share of revenue in the past and it will maintain its position in the years to come, advancing at a considerable rate. This has a lot to do with the well-established automobile sector, the existence of numerous vehicles along with auto parts manufacturers, and the increasing preference of customers for light-weighted vehicles.
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