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Global Ceramic Matrix Composites (CMC) Market Analysis & Industry Demand Report, 2017-2022 & 2022-2030DUBLIN, March 23, 2023 /PRNewswire/ -- The "Global Ceramic Matrix Composites Market Size and Share Analysis Report by Product, Application - Industry Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering. In 2022, the ceramic matrix composites market had a value of USD 3,090 million, and it is set to grow at an 11.90% compound annual growth rate from 2022 to 2030, to touch USD 7,596 million in 2030 This is owing to the booming energy & power sector, increasing requirement for lightweight vehicles, growing industrialization, mushrooming consumer preference for such materials, and mounting standard of living. Demand for CMCs Is High in North America due to Expanding Energy & Power Sector In addition, most of the revenue in the continent is generated by the U.S. This is ascribed to the surging government spending on the military, high demand for CMCs, and fast growth in aerospace production. In 2022, Europe accounted for a significant share, and the revenue generated here is predicted to grow at a significant rate. This is because of the high count of auto parts and automobile manufacturers and the rise in consumers' preference for lightweight vehicles. Rising Application of Ceramic Matrix Composites in Aerospace Sector With a 37% share, the aerospace sector is the largest contributor to the market, and it will continue to do so during the projection period. The growth of this category is credited to the burgeoning usage of CMCs for the manufacturing of the fans of jet engines and the sleeves of helicopter rotor blades. Moreover, the category of energy & power is predicted to achieve the fastest advance in the future. This can be ascribed to the booming industrialization and urbanization, surging demand for energy generation due to the increasing population, reduction of fossil fuel resources, and mushrooming government support. Products with Oxide Base Widely Used in Automobiles
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Key Topics Covered: For more information about this report visit https://www.researchandmarkets.com/r/wjpvgi About ResearchAndMarkets.com Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1904 Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/global-ceramic-matrix-composites-cmc-market-analysis--industry-demand-report-2017-2022--2022-2030-301780132.html SOURCE Research and Markets |