The global metal matrix composites market is forecast to reach USD 542.8 Million by 2027, according to a new report by Reports and Data. Metal Matrix Composites Market is expected to witness significant growth because of a positive application outlook in automotive, space equipment, and electronics. It comprises of metal and ceramic or organic compounds with mechanical, physical, and thermal properties, which can be customized by forging, rolling, heat treatment, and casting.
Carbon, silicon carbide, and ceramic fibers are embedded in alloy or metal and possess better electrical thermal conductivity. It is used as outgassing and radiation resistance owing to properties like no moisture absorption, and it can withstand a wide range of temperatures.
Metal matrix composites improve automobile fuel efficiency and are light in weight. Rising consumer concerns regarding increasing oil prices have led to an increase in fuel-efficient vehicle demand and hence boosting the metal matrix composites demand. Metal matrix composites have greater tensile strength as compared to aluminum, steel, and reinforced metal, which may influence brake rotor manufacturing and automotive turbines combustion engine. Toyota, Ford, and Honda are using an aluminum matrix to improve car durability and functionality.
Top Companies Operating in the Global Metal Matrix Composite Market:
CPS Technologies Corporation, Materion Corporation, GKN Sinter Metals, Metal Matrix Cast Composites, 3M, Deutsche Edelstahlwerke GmbH, Sandvik AB, Ferrotec Corporation, Plansee Se, and Ceramtec
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Further key findings from the report suggest
- Metal matrix composites material has a low thermal expansion coefficient and high thermal conductivity than aluminum and copper, thereby promoting its use in semiconductor manufacturing. Metal matrix composite protects devices from radiofrequency and thermal stress and has wide applications in the electronic packing system.
- In Europe, the Metal matrix composites market is driven by Germany, France, and the U.K. and is expected to witness steady growth. An increase in consumer spending on healthcare and automobile sector may drive regional growth.
- Among the regional segment of the metal matrix composite market, North America is leading the market at present with 34.8% of the global market revenue. Asia-Pacific is expected to register the highest CAGR of 6.4% over the forecasted period.
- The robotic application may witness favorable gains over the forecasted period. The global industrial robotic market may exceed over USD 80 billion by 2024. Metal matrix composites have excellent mechanical strength, high temperatures resistance, lightweight, and better wear tear resistance makes them a suitable material for robot construction.
- Among the product segment of the metal matrix composite market, the refractory metal matrix is presently leading the market, and it will continue to dominate with an estimate to register the highest CAGR of 6.2% over the forecasted period.
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The Metal Matrix Composite market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Metal Matrix Composite market.
The global Metal Matrix Composite market is segmented into:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Aluminum Metal Matrix Composite
- Magnesium Metal Matrix Composite
- Refractory Metal Matrix Composite
- Others
Production Technology Outlook (Revenue, USD Billion; 2017-2027)
- Liquid Metal Infiltration
- Powder Metallurgy
- Casting
- Depositions Techniques
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Ground Transportation
- Thermal Management
- Aerospace
- Industrial
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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