Research Nester published a report titled “Metal Matrix Composites Market”: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the metal matrix composites market in terms of market segmentation by product type, by end-use industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
A material prepared with two or more composite parts, where one must be a metal and the other could be a different metal or non-metal such as an organic compound or ceramic, is known as a metal matrix composite (MMC). Global demand for metal matrix composites is flourishing rapidly due to their crucial application in most of the industries. They are created by diffusing a strengthening material into a metal matrix.
The metal matrix composites market is estimated to observe a CAGR of more than 8% between 2020 and 2028. The market is segmented by product type, end-use industry, and region. Among the product segmentation, aluminum metal matrix composites is predicted to hold the maximum market share over the next 8 years as they are the most potential material and their valuable properties are available at reduced prices which are supporting in structural and functional applications.
Regionally, the metal matrix composites market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
As a result of augmentation in the telecommunication and automobile industry, North America is estimated to hold the largest market share.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
In Europe the EU countries such as Germany, and France, is predicted to observe a notable growth during the forecast period on account of expanding household spending on the automotive sector and rising medical expenses in the region.
In the Asia-Pacific region, India has a soaring success rate of launching space satellites and crafts with cost-effective technology that has seized world attention and China is the largest automotive sector. Further, the rising aging population, growing health care expenditure, and surging economic standards in developing economies of China, Japan, and India is likely to drive the regional growth during the forecast period.
According to an article by WHO published on Feb 4, 2019, the demand for electric vehicles is witnessing an upliftment in China. In 2018, almost 1.3 million electric vehicles and plug-in hybrids were sold, which is just 4% of all 28.1 million automobiles sold in China in 2018 at the time when the U.S. was under 2% and Europe was just over 3%.
Favorable properties to boost the overall market growth
Properties such as high malleability, ductility, and tensile strength provided by metal composites make them suitable for application in diverse segments specifically automotive, electronics, defense, and aerospace industries.
In the aerospace and marine industry, high-performance composites material are favored for mounting of exterior chassis or framework.
In the shipbuilding process, metal matrix composites of high buoyancy and light in weight are popularly chosen.
Metal matrix composites are witnessing soaring demand in the communication satellites industry owing to their properties such as stiffness in nature, low thermal expansion coefficient, lightweight, and dimensional stability.
However, rising manufacturing costs along with narrow technological competency for metal matrix composites handling are anticipated to hinder the growth of the market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the metal matrix composites market which includes company profiling of GKN PLC, Sandvik AB (STO: SAND), 3M (NYSE: MMM), Plansee SE, Hitachi Metals, Ltd. (TYO: 5486), Sumitomo Electric Industries, Ltd. (TYO: 5802), Deutsche Edelstahlwerke GmbH, CPS Technologies Corp. (NASDAQ: CPSH), 3A Composites, Materion Corporation (NYSE: MTRN). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the metal matrix composites market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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