A three-pronged approach was followed for deducing the ceramic matrix composites market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for ceramic matrix composites market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of ceramic matrix composites market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The ceramic matrix composites market was categorized into four segments, namely product (Oxides, Silicon Carbide, Carbon), application (Aerospace, Defense, Energy & Power, Electrical & Electronics), and regions (North America, Europe, Asia Pacific, Middle East & Africa, Central & South America).
The ceramic matrix composites market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The ceramic matrix composites market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into thirteen countries, namely, the U.S.; Canada; Mexico; U.K.; Germany; France; Spain; Italy; China; Japan; India; South Korea; Brazil
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The ceramic matrix composites market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
3M Company, previously known as the Minnesota Mining and Manufacturing Company, is a multinational conglomerate based in Minnesota, U.S. The company manufactures diverse products including composites, optical films, electronic circuits, dental and orthodontic products, electronic materials, laminates, passive fire protection materials, abrasives, and adhesives. In 2012, 3M acquired Ceradyne, Inc., an advanced ceramic manufacturing company. Ceradyne has a wide range of product offerings catering to nuclear power, oil &gas, solar energy, automotive, defense, and similar highly technical industries. 3M Company operates its advanced ceramic business under the hood of the industrial business segment. The company has operations in over 70 countries with 26 business units and 36 laboratories worldwide. 3M also specializes in 46 technology platforms including adhesives, abrasives, electronics & software light management, microreplication, nanotechnology, nonwoven materials, and surface modification.
Applied Thin Films, Inc. , Inc. is an advanced materials manufacturer specializing in performance-based thin film ceramics. The company serves aerospace, aesthetic surfaces, defense, electronics, energy, life sciences, manufacturing, space, and transportation industries. The company’s product portfolio includes ultra-thin films, hightemperature sealants, high-temperature paints, self-healing surfaces, hollow ceramic microspheres, and ceramic matrix composites. Cerablak is a flagship product of the company and is used in thin/thick films coatings, microspheres, and ceramic composites. The company’s products serve various applications including barrier protection, thermal management, electrical insulation, and surface enhancements.
CeramTec International is a technical ceramic manufacturer. The company’s product portfolio includes over 10,000 different products manufactured using a variety of ceramic materials serving various end-use markets such as equipment & mechanical engineering, medical technology, vehicle & automotive engineering, electronics, energy & environment, etc. The ceramic portfolio includes silicate ceramics, oxide ceramics, non-oxide ceramics, and piezoceramics. The company manufactures CMC & MMC reinforcements and components for mechanical engineering applications.
COI Ceramics, Inc. provides advanced ceramic products, design, testing, and support services to its customers. It also provides a range of advanced ceramic products for aerospace and industrial markets. Its ceramic product portfolio includes oxide ceramic metal composites, silicon carbide ceramic metal composites, and silicon carbide ceramic fibers. In 2010, COI Ceramics, Inc. was awarded a contract by Boeing Research and Technology for developing a ceramic matrix composite nozzle for commercial jet engine application.
CoorsTek, Inc. CoorsTek, Inc. specializes in technical ceramics, highperformance polymers, precision machined metals, custom components, and custom assemblies. It caters to semiconductors, household durables, oil & gas, machinery, automotive, power, electronics, rail, armor & defense, and medical industries. The company has 50 production facilities in 14 countries. In 2011, CoorsTek, Inc. acquired Saint-Gobain advanced ceramics to become a dominant technical ceramics producer.
General Electric Company GE has approximately 240 manufacturing plants in 38 states in the U.S. and Puerto Rico. It also operates more than 300 plants in 40 other countries across the globe. The company serves customers in more than 100 countries and generates more than half of its revenue from the international markets. GE divides its operations across eight segments, namely, GE Capital, Healthcare, Aviation, Power & Water, Oil & Gas, Home & Business Solutions, Energy Management, and Transportation. The company produces aircraft engine, locomotives, and other transportation equipment, lighting, electric control equipment, generators and turbines, and medical imaging equipment. GE also owns mega-financial company GE Capital, which offers commercial finance, commercial aircraft leasing, real estate, and energy financial services. GE's other segments include aviation, home & business solutions, and transportation.
Kyocera Corporation offers consumer and business to business products. The company’s product portfolio mainly includes imaging equipment, ceramic components, electronic components, solar power generation systems, ceramic packages cutting tools, automotive components, medical & dental products, and connectors. It serves various customers in the telecommunications, automotive, medical, electronics, and industrial manufacturing industries, among others. Kyocera's subsidiaries and affiliates around the world include Kyocera Mita, Kyocera International, and AVX Corporation.
Lancer Systems LP Lancer Systems LP provides industrial solutions using plastics, fiber optic, and composite technologies. The company’s product line includes composites, seals, fiber optics, and weapons & related components. The company manufactures ceramic matrix composites using polymer infiltration and pyrolysis process. Lancer Systems markets thermoplastic, thermosets, and ceramic matrix materials under its composite business segment. The company also offers custom component manufacturing services under the composite segment.
SGL Carbon Company is one of the world's largest makers of graphite and carbon products, makes electrodes used to melt steel scrap. SGL Carbon also manufactures mechanical carbons and electrical contacts, along with graphite foils, carbon fibers, expanded graphite and fabrics, composites, carbon-ceramic brake discs, and fuel cell components. Company’s customers range from companies in the aerospace and automobile industries to chemical and energy companies in 100 countries. The company operates more than 40 factories in Europe, North America, and Asia. It manufactures ceramic matrix composites under the hood of internal technology & innovation (T&I) start-up organization.
Starfire Systems, Inc. is an advanced material manufacturer and technology provider. The company has an expertise in ceramic and polymer composites and advanced material production. Starfire Systems licensed silicon carbide forming polymer that formed the basis of SMP-10, which is a specially produced precursor of silicon carbide (SiC) composites in 1991. Company’s product portfolio includes ceramic forming polymers, thermosetting polymers, molding compounds, and specialty silanes. The company serves aerospace, armor, electrical & electronics, friction materials, industrial, nuclear military, and associated applications. In 2004, Starfire Systems, Inc. supplied polymer material for Non-Oxide Adhesive Experimental (NOAX) to NASA.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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