PUNE, India, May 5, 2017 /PRNewswire/ --
The report "Metal Matrix Composite Market by Type (Aluminum MMC, Magnesium MMC, Refractory MMC), Production Technology, Reinforcement (Continuous, Discontinuous, Particle), End Use Industry, and Region - Global Forecast to 2021", published by MarketsandMarkets™, the market is projected to reach USD 619.1 Million by 2021, growing at a CAGR of 6.10% from 2016 to 2021.
Browse 68 market data Tables and 55 Figures spread through 131 Pages and in-depth TOC on "Metal Matrix Composite Market"
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The demand for MMC is increasing because MMC can increase the strength, stiffness, and high temperature capabilities of structural parts. This increasing demand in many end-user industries such as aerospace, ground transportation, and thermal management is driving the growth of the global MMC market.
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Aluminum MMC comprises a major share of the metal matrix composite market in terms of value
Aluminum is the most commercially used product type of MMC because of its superior properties such as light weight, environmental resistance, and mechanical properties. In addition, various reinforcements such as boron continuous fibers, silicon carbide (SiC) fibers, graphite fibers, various particles, and whiskers & short fibers are compatible with aluminum alloy matrix. Also, aluminum MMC is comparatively cheaper than other types of MMC products.
Ground transportation is the largest end-use industry for metal matrix composite in terms of volume
Lighter weight and higher strength of MMCs make their use vital in the transportation industry. The automotive industry s focused on reducing the weight and increasing the efficiency of the vehicles by better exploiting lighter and stronger materials. This further increases the demand for MMCs in the ground transportation end-use industry.
North America accounts for a major market share in the metal matrix composite market
The growth of the MMC market in the North America region is driven by the growing aerospace end-use industry on account of low-interest rates, the presence of established players, and stringent environmental regulations emphasizing the use of lightweight and fuel-efficient materials. Some of the leading players such as Materion Corporation (U.S.) and 3M (U.S.) have accelerated their R&D efforts to provide good quality MMC products. Moreover, the Asia-Pacific region is witnessing rapid development in space and defence sector, which is also giving an impetus to the MMC market in the region.
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Some of the key global players in the Metal Matrix Composite Market are Materion Corporation (U.S.), 3M (U.S.), CPS Technologies Corporation (U.S.), Metal Cast Technologies (U.S.), GKN Sinter Metals (U.K.), Deutsche Edelstahlwerke GmbH (Germany), and others. These players have adopted various organic and inorganic developmental strategies during the past five years.
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