Metamaterials Market Size Worth USD 3.61 Billion By 2027 | CAGR of 23.6%: Emergen Research

VANCOUVER, B.C., Oct. 6, 2020 /PRNewswire/ -- The Global Metamaterials Market is projected to reach USD 3.61 billion in 2027. The key factors influencing the market include increasing demand for the new technologies that can be used in many applications such as absorbers, superlenses, and antennas instead of the conventional materials in order to boost the performance of the machinery and reliability of overall processes across applications.

The uniquely engineered synthetic structures having superior electromagnetic properties find a wide range of applications and a vast potential for usage in large end-use verticals such as automotive, consumer electronics, medical, and others. The metamaterial market is driven mainly by demand from telecommunications applications because of the potential of the material to be used in devices, such as radars.

The global business landscape of Metamaterial remains quite dynamic with increasing numbers of small, medium as well as large companies. Enormous competition for technological innovation and higher diversification will offer tremendous opportunities for creative players over the forecast timeframe.

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Further key findings from the report suggest

• The aerospace & defense end-use sub-segment is considered to be the largest end-use segment in terms of revenue, and this domination is projected to continue in the forecast period, owing to the fast development of this end-user vertical in core economies such as the U.S., the U.K., Germany, China, India, and Russia.
• The antenna sub-segment is expected to accumulate a steady growth rate over the forecast period, primarily owing to an increased demand for specialized antennas in applications, especially in defense, aerospace, & telecommunications.
• The absorber sub-segment products are used in the manufacture of products such as cloaking systems, super, and lenses. The advantages of using metamaterials in the antenna and absorber segments help make it one of the higher revenue-generating segments.
• In September 2019, a joint venture of the Caltech-Georgia Tech Zurich team developed a modern type of architected Metamaterial, which has the ability to shape change in a tunable method.
• Key players in the market include Metamaterial Technologies, Inc., MetaShield LLC., Kymeta Corporation, MediWise Ltd., Phoebus Optoelectronics LLC, JEM Engineering, LLC, Multiwave Technologies AG, Echodyne, Inc., NKT Photonics AS, and Fractal Antenna Systems Inc., among others.

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For the purpose of this report, Emergen Research has segmented the Global Metamaterials Market on the basis of Product Type, Application, End-Use, and Region:

Product Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)

• Electromagnetic
• Tunable
• Photonic
• Frequency Selective Surface
• Terahertz
• Others

Application Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)

• Absorber
• Antenna
• Cloaking Devices
• Super Lens
• MRI
• X-ray
• Others

End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)

• Medical
• Automotive
• Consumer Electronics
• Aerospace and Defense
• Energy and Power
• Others

Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)

- North America

1. U.S.
2. Canada

- Europe

1. U.K.
2. Germany
3. France
4. Benelux

- Asia Pacific

1. China
2. Japan
3. South Korea
4. Rest of APAC

- Latin America

1. Brazil
2. Rest of LATAM

-Middle East & Africa

1. Saudi Arabia
2. UAE
3. Rest of MEA

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SOURCE Emergen Research