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The global ceramic matrix composites market was valued at US$ 4,857.6 million in 2018 and is projected to reach US$ 11,516.1 million by 2026, growing at a CAGR of 11.4% from 2019 to 2026. Ceramic matrix composites (CMCs) are defined as a group of composite materials consisting of ceramic fibers embedded in a ceramic matrix. Ceramic materials are inorganic and nonmetallic solids, which are crystalline in nature. CMCs exhibit improved crack resistance and do not rupture easily under heavy loads as compared to conventional technical ceramics. Rapid growth in the automotive sector across developing economies such as India and China and increase in demand for ceramic matrix composites owing to their low weight, high friction, and temperature-resistant properties are the key factor that fuel the growth of the ceramic matrix composites market.
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