Ceramic Matrix Composites Market Worth $8.94 Billion By 2030
Ceramic Matrix Composites Industry Overview The global ceramic matrix composites market size is expected to reach USD 8.94 billion by 2030, expanding at a compound annual growth rate (CAGR) of 12.9% during the forecast period, according to a new report by Grand View Research Inc. Increasing demand for ceramic matrix composites is being driven by their superior properties, such as high-temperature stability, reduced weight, and high strength. Ceramic Matrix Composites Market Segmentation Grand View Research has segmented the Ceramic Matrix Composites market based on product, application, and region: Based on the Product Insights, the market is segmented into Oxides, Silicon Carbide, Carbon, Others. The oxides product segment led the market and accounted for more than 29.97% share of the global revenue in 2021. Improved properties of oxide composites such as no oxidation and high fracturing toughness, and a less expensive production process, are expected to trigger...