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The ceramic matrix composites (CMC) market size is forecast to increase by USD 3.23 billion at a CAGR of 10.93% between 2023 and 2028. The market is experiencing significant growth due to rising innovations and government funding in the aerospace industry, leading to increased demand for lightweight and high-performance materials in portable electronic devices and the automotive sector. Moreover, the rise in new CMC product launches, particularly in the geopolymer matrix, is driving market expansion. However, the high costs of CMCs, especially those based on alumina and steel and iron matrices, remain a major challenge for market growth. These materials are expensive due to their complex manufacturing processes and the use of rare and expensive raw materials. Despite this, the market is expected to continue growing as the benefits of CMCs, such as their high strength-to-weight ratio, excellent thermal stability, and resistance to high temperatures and corrosion, outweigh their costs in various industries.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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