The market in North America is projected to reach US$1.12 billion by 2019 due to rapid growth in key end-use industries, such as aerospace, energy & power, and automotive and the comparatively high production of raw materials.
Oxide/oxide composite is currently the fastest-growing segment of ceramic matrix composites, and are a low-cost alternative for silicon carbide/silicon carbide composites. The consumption of these composites is projected to reach US$0.78 billion by 2019. The market size, in terms of value, of these composites in North America is estimated to grow at a CAGR of 13.50% between 2014 and 2019, while India is the fastest-growing market for oxide/oxide composites, registering a CAGR of 18.33% between 2014 and 2019.
Aerospace duties
Aerospace is currently the largest application of ceramic matrix composites and is projected to grow at a CAGR of 14.06% between 2014 and 2019. Ceramic matrix composites are used in the aerospace industry due to their damage tolerance, fracture toughness, and high temperature, wear and corrosion resistance.
The report, Ceramic Matrix Composites Market by Type (Oxide/Oxide, Silicon Carbide/Silicon Carbide,Carbon/Carbon and Others), by Application (Aerospace, Defense, Energy & Power, Electrical & Electronics and Others) and by Region – Trends & Forecasts to 2019, has been published by MarketsandMarkets.
