Carbon Fibre watch case, Image: FratelloWatches
Although it might seem that the (mainly) Swiss watch industry takes it
easy when it comes to innovations and relies on the craftsmanship and
'technology' of – some times – centuries ago, the search for better
materials is on-going.
IWC Top Gun Double Chronograph
Especially when it comes to sports watches, watch manufacturers have
been trying to use various solutions to create a watchcase that can't be
scratched. An interesting example is the Audemars Piguet Royal Oak .
Due to the matt-brushed finish on the flat surfaces of the case and
bracelet as well as the polished finish on the angles, this watch not
only plays beautifully with light, it is unfortunately also a scratch
magnet. Every single scratch or dent is a thorn in the eye of the owner in most cases.
Therefore Audemars Piguet decided to use their Offshore collection to
play with scratch resistant materials like ceramics and carbon. Other big brands like IWC and Hublot also offer carbon, ceramics, and composite solutions for their sports watches.
The appliance of these modern materials often not only changes the
characteristics of the case (hardness for example), it also turns the
watch into a tougher looking sibling of the stainless steel (or
titanium) version. The IWC Pilot Top Gun
and Ingenieur Carbon and AMG Black Series are a good example of turning
classic stainless steel pieces into something tougher looking. Or what about Omega with the introduction of their Dark Side of the Moon (as well as the Grey Side and White Side)? Turning an icon into a more modern wristwatch that will remain the same forever due to its material characteristics. 
Omega Speedmaster Moonwatch Dark Side of the Moon, Image: FratelloWatches
Then of course, there are many variations of materials.
Ceramic and gold composites have been trending for a while as well as
more common combinations like DLC-treated (Diamond Like Carbon)
titanium. They all have their specifics, both in characteristics and aesthetics.
Hublot and Panerai are very keen on working with composites for their
watches, whereas DLC treatments can be found on watches from Cartier and
Linde Werdelin. It has also been applied on watches from many other brands by third parties (Rolex, AP, Patek Philippe, etc.).
Sticking to carbon and ceramics, the most common modern materials used, there are a few pros and cons for either of them:
Carbon Pros: Super lightweight, very strong due to the fibers.
Cons: Relatively low surface hardness (scratches)
Watch brands using carbon: Hublot, IWC, Audemars Piguet, Panerai, Linde Werdelin
Ceramic
Pros: Very hard and therefore scratch resistant (especially interesting for bezels and cases)
Cons: Due to the structure, in extreme cases a case can break or split
Watch brands using ceramics: RADO, IWC, Omega, Chanel, Rolex, Audemars Piguet, Longines, Bell & Ross, Hublot, Jaeger-LeCoultre, etc.
As carbon and DLC are still not resistant to scratches, ceramic is a very interesting material for people whose main concern is to keep their watches like new. Your watch will continue to look as when it left the factory. Keep in mind, of course, that if you would like to have your watch age as nicely as yourself, ceramics won't join you. Your timekeeping companion will be young forever. It is a matter of taste and preferences.
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