The high cost of ceramic fibers has greatly influenced the market growth. Unlike the carbon fiber, which is used in most of the metal and polymer composites and thus, is produced in bulk, other ceramic fibers are produced in small quantities, which refrains them from enjoying the cost benefits of mass production. Ceramic matrix composites production being a high enthalpy process, adds up to the product cost, which makes it useful in applications such as defense, aerospace, thermal management, and other.Explore report description with detailed TOC @ [URL=https://www.psmarketresearch.com/market-analysis/ceramic-matrix-composites-market]https://www.psmarketresearch.com/market-analysis/ceramic-matrix-composites-market[/URL]
North America is estimated to hold the largest share in the ceramic matrix composites market, accounting for more than 30% in 2017. This can be attributed to the presence of major aviation industries, their investment for developing ceramic matrix components for manufacturing aviation components, and private-public partnerships for upgrading defense and aerospace equipment. The growing demand for ceramic composites in the manufacturing sector of the U.S. has been identified as the future growth driver for the market. Ceramic matrix composites’ demand in the power and energy sector in North American countries is boosting the overall growth prospects of the market.
In Asia-Pacific, the increasing expenditure on defense and space exploration projects has fueled the growth of the ceramic matrix composites market during the forecast period. Also, initiatives such as ‘Make in India’ have resulted in the growth of the manufacturing sector in this region. Growing defense and aerospace sectors along with increasing spending on construction of nuclear power plants, power distribution centers, utilities, and others, are expected to foster the market growth in the region.
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High-temperature stability along with high strength and reduced weight has increased the product popularity in North America. High electrical conductivity and thermal resistance have made ceramic matrix composites suitable for thermal management applications, where high thermal resistance is required. Industries such as thermal management component manufacturing, electronics, defense, and aerospace in the U.S. are also using ceramic matrix composites for better performance and sturdy structures. Such beneficial attributes are driving the growth of the ceramic matrix composites market. Efforts by The National Aeronautics and Space Administration (NASA) and GE Aviation to develop CMC for rotorcraft engines, and collaboration of the U.S. military with The 3M Company to develop CMC for defense applications have created product innovation opportunity for the market players.