The composite industry is a market currently valued at nearly $150 billion, which includes different categories of materials. Although polymer matrix composites represent by far the largest share of this industry, ceramic matrix composites (CMCs) and carbon matrix composites (CAMCs) have been experiencing overall healthy growth in recent years.

The global market for CMCs and CAMCs is estimated to have reached $3.9 billion by the end of 2016. There are seven main sectors where CMCs and CAMCs have current and potential use: aerospace/defense, electronics, energy/environmental, mechanical/chemical, medical/dental, sensors/instrumentation, and transportation (private and commercial motor vehicles and rail transportation).