The global metal matrix composites market is expected to grow from $329.11 million in 2020 to $352.76 million in 2021 at a compound annual growth rate (CAGR) of 7.2%.
Metal Matrix Composite Global Market Report 2021 provides the strategists, marketers and senior management with the critical information they need to assess the global metal matrix composite market.
The growth is mainly due to the increasing usage of MMC in the automotive & transportation and aerospace sector, growing focus on performance enhancement, rising concerns regarding environmental degradation and increasing levels of carbon emissions.
The market is expected to reach $539.66 million in 2025 at a CAGR of 11.2%.
Major players in the metal matrix composite market are 3M, CPS Technologies, GKN Sinter Metals, CeramTec, Ferrotec Corporation, Sandvik, Plansee, ADMA Products, Metal Matrix Cast Composites LLC, TISICS, DWA Aluminum Composites, Mi-Tech Tungsten Metals, AMETEK Specialty Metals Products, Santier, and Denka Company.
The metal matrix composite market consists of sales metal matrix composites by entities (organizations, sole traders, and partnerships) that manufacture metal matrix composite materials. Metal matrix composites (MMCs) are a class of materials (metals, alloys, or intermetallic compounds) that have been reinforced with particles, whiskers, or continuous fibers. MMCs are excellent substitutes to conventional materials owing to their hardness, specific strength, and creep resistance.
North America was the largest region in the metal matrix composite market in 2020. Asia Pacific was expected to be the fastest region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growing technological advancements are shaping the metal matrix composite market. Major institutes and companies are focusing on projects involving advanced composite materials for the automotive and aerospace industries. According to a study published in 2021, Al-based metal matrix composites (AMMCs) have found enormous applications in the aerospace, automobile, and other structural applications. Compared with the conventional processes such as casting and powder metallurgy, AMMCs processed by additive manufacturing show a significant difference between microstructure and properties.
Further, in 2019, the CSIR-National Institute for Interdisciplinary Science and Technology launched an Indo-German project on innovative composite materials involving near-net shape (NIIST) technology. The objective of the new CSIR-NIIST project is to produce lightweight near-net form carbon-fiber-reinforced aluminum composites and parts for the automotive and aerospace sectors.
The growth of the automotive industry is expected to fuel the growth of the metal matrix composite market in the coming years. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles. Metal matrix composites are used to lower vehicle weight and enhance the efficiency of automobiles.
For instance, according to the statista, global automotive industry is expected to grow to 9 trillion U.S. dollars by 2030, with new vehicle sales accounting for about 38% of this value. Electric vehicle sales are expected to increase from 2.5 million in 2020 to 3.4 million in 2021 and 31.1 million in 2030. Therefore, the expansion of the automotive industry propels the growth of the metal matrix composite market.
Key Topics Covered:
1. Executive Summary
2. Metal Matrix Composite Market Characteristics
3. Metal Matrix Composite Market Trends and Strategies
4. Impact Of COVID-19 On Metal Matrix Composite
5. Metal Matrix Composite Market Size and Growth 5.1. Global Metal Matrix Composite Historic Market, 2015-2020, $ Billion 5.1.1. Drivers Of the Market 5.1.2. Restraints On the Market 5.2. Global Metal Matrix Composite Forecast Market, 2020-2025F, 2030F, $ Billion 5.2.1. Drivers Of the Market 5.2.2. Restraints On the Market
6. Metal Matrix Composite Market Segmentation 6.1. Global Metal Matrix Composite Market, Segmentation by Matrix Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Super Alloys MMC
6.2. Global Metal Matrix Composite Market, Segmentation by Production Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Liquid Metal Infiltration
6.3. Global Metal Matrix Composite Market, Segmentation by End-Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Automotive and Transportation
Aerospace and Defense
Electrical and Electronics
7. Metal Matrix Composite Market Regional and Country Analysis 7.1. Global Metal Matrix Composite Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion 7.2. Global Metal Matrix Composite Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion