Global Metal Matrix Composites Market to Reach $620.4 Million by 2027
Amid the COVID-19 crisis, the global market for Metal Matrix Composites estimated at US$458.1 Million in the year 2020, is projected to reach a revised size of US$620.4 Million by 2027, growing at a CAGR of 4.4% over the analysis period 2020-2027.
Aluminum Matrix Composites, one of the segments analyzed in the report, is projected to record a 4.2% CAGR and reach US$271.2 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Refractory Metal Matrix Composites segment is readjusted to a revised 5.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $123.5 Million, While China is Forecast to Grow at 7.8% CAGR
The Metal Matrix Composites market in the U.S. is estimated at US$123.5 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$134.9 Million by the year 2027 trailing a CAGR of 7.8% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.5% and 3.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.
Other Materials Segment to Record 3% CAGR
In the global Other Materials segment, USA, Canada, Japan, China and Europe will drive the 2.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$71.3 Million in the year 2020 will reach a projected size of US$85 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$89.2 Million by the year 2027, while Latin America will expand at a 3.9% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Recent Market Activity
Composites - A Prelude
Metal Matrix Composites - A Review
Improving Economy Buoys General Market Optimism
Steady Acceleration in Global PMI Benefits Market Growth in Industrial Sector
Competitive Landscape - A Brief Overview
2. FOCUS ON SELECT PLAYERS (Total 34 Featured)
ADMA Products, Inc.
AMETEK Specialty Metal Products
CPS Technologies Corporation
Deutsche Edelstahlwerke GmbH
DWA Aluminum Composites USA, Inc.
Hitachi Metals, Ltd.
Mi-Tech Tungsten Metals, Inc.
Sumitomo Electric Industries, Ltd.
Thermal Transfer Composites LLC
3. MARKET TRENDS & DRIVERS
Matrix Composites - the Future of Metals
Ground Transportation Industry - The Largest Revenue Contributor
Automotive Industry - A Major End-Use Market for Metal Matrix Composite
Aluminum Metal Matrix - The Most Preferred in Automotive Industry
Nanotechnology Technique Used for Advanced Engineering Materials
Increase in Automotive Production Augurs Well for the Market
Railways - Market Laden with Tremendous Potential
Electronics Sector Offers Robust Growth Opportunities for MMCs
Opportunities Aplenty in Electronics Packaging & Thermal Management Applications
Healthy Outlook for the World Commercial Aviation Industry Drives Demand for Metal Matrix Composites
Rise in Aircraft Fleet Drive Long-Term Opportunities
Defense Aerospace Presents Steady Growth Prospects for Metal Matrix Composites
Developments and Innovations Underway
A Look into Other Defense Related Applications for MMCs
Review of Defense Budgets & Implications on Adoption of MMCs in Production of Military/Defense Related Products
Nuclear Power Continues to Find Attention - To Boost Market Prospects
Expanding Applications to Drive Future Growth
Metal Composite Materials Find Increased Usage in Buildings
Sports and Biomedical Sectors
Power Transmission Segment Offers Plenty of Opportunities
MMC Issues & Challenges
The Way Forward
Hybrid MMCs for Better Mechanical Properties
Nano Particles-Reinforced MMCs - A Most Recent Advancement
Potential Applications of Nano Particles-reinforced MMCs
New Stir-Casting Method for Economically Viable Production of MMCs in Large Quantities
Ceramic-Matrix-Composites Gain Popularity for Aircraft Engines but Issues Persist