India ceramic matrix composites (CMCs) market is expected to grow at a CAGR of 13.0% during the forecast period. India is estimated to grow at a considerable rate in the Asia-Pacific CMC market. The factors that positively affect the growth of the market include the rising solar power generation in the region. India’s power sector is one of the significantly diversified sectors across the globe. The Indian power sector is enduring a noteworthy change that has redefined the industry outlook. Sustained economic growth endures driving electricity demand in India. Further, the Indian Government is also centered on attaining ‘Power for all’ that has boosted capacity addition in the country. According to IBEF, a total installed power capacity in India stood at 356.82 Gigawatt (GW) as of May 2019.

CMC is being utilized in power generation technologies, such as solar panels of high-power generation capacity are being manufactured that are subjected to very high temperatures, owing to which there is a high demand for composites materials including CMC from key manufacturers. India has availability of solar irradiance in abundance and receives solar energy that has generated numerous lucrative opportunities for the solar energy sector, especially from the sunniest sites in the country such as Gujarat, Rajasthan and Andhra Pradesh. Apart from these foreign investments and extensive R&D projects in solar energy also creates opportunities for solar energy in India, which in turn will propel the demand for CMC.

Besides, the increasing R&D activities in the aerospace sector also providing growth opportunity for the CMC market in India. CMC benefits aerospace in propulsion and exhaust, thermal protection, and hot primary structure applications. Further, various investments by the Indian government coupled with projects undertaken by the Indian Space Research Organization (ISRO) such as Mangalyaan, Chandrayaan among many others are projected to boost the growth to the CMC’s as these are being significantly utilized in the aerospace and defense sector. The government promoting the aerospace sector by providing huge funding and investments and wide usage of CMC in aerospace, especially in gas turbines and engines is expected to increase the adoption of CMC in aerospace, which is projected to foster the market growth in the country during the forecast period.

Some crucial players in the market include General Electric Co., 3M Co., SGL Carbon SE, CeramTec GmbH, Rolls-Royce plc, and Safran Group. These players are focusing on product launches, mergers and acquisitions, and partnerships and collaborations, to expand market share and gain a competitive advantage. 

Research Methodology

The market study of the India CMC market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog

The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. It will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation:

1. India CMC Market Research and Analysis, By Product Type
2. India CMC Market Research and Analysis, By End-Use Industry

The Report covers:

• Comprehensive research methodology of the India CMC market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India CMC market.
• Insights about market determinants which are stimulating the India CMC market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of market players.