The global microwave absorbers market size is expected to reach USD 256.4 million by 2024

LONDON, Nov. 26, 2018 /PRNewswire/ --

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The global microwave absorbers market size is expected to reach USD 256.4 million by 2024. It is expected to experience a CAGR of around 8.5% during the forecast period. Potential growth opportunities offered by the consumer electronics, military, and defense sectors are expected to fuel demand for microwave absorbers.

Alteration of magnetic as well as dielectric properties of materials permit absorption of microwaves in broadband or discrete frequency. Implementation of numerous micro components in the circuit of electronic product creates a system to system interference projecting false data interpretation as well as display. Hence, microwave absorbers prevent these interactions of frequencies in order to project accurate data to operators.

The consumer electronics segment is expected to exhibit noteworthy growth over the coming years owing to noticeable reduction in size of microprocessors and other system components. Surging demand for high end processors, massive data storage, and processing requirements in smartphones, desktops, and smart televisions is estimated to fuel the demand for microwave absorbers.

Consistent replacement of outdated aircrafts and rising investments in purchase of unmanned aircrafts are anticipated to trigger the growth of the market over the forecast period. However, radar manufacturers are concentrating on building efficient systems, which will detect stealth planes. Cut-throat competition among aircraft and radar manufacturers is likely to maintain heightened demand for microwave absorbers in the near future.

For instance, in April 2018, Canada invested USD 2.7 million in development of quantum radar, which is projected to improve existing conditions of stealth aircraft detection. Research will be conducted by the University of Waterloo. Furthermore, China and Russia are poised to invest in development of quantum radar systems in near future.

Asia Pacific is expected to exhibit a CAGR of 8.9% during the forecast period owing to robust manufacturing of electronic systems. China, Japan, and South Korea are key contributors to market growth. North America is estimated to maintain its dominance throughout the same period in terms of revenue owing to burgeoning investments in the defense sector. Additionally, the U.S is planning to expand its air fleet in order to comply with spiraling demand for air power across the globe. In September 2017, U.S. military displayed a glance of their 4 new F-35 Joint Strike Fighters to the North Korean leader Kim Jong Un.

In terms of application, the military and defense segment accounted for a major share in the market. It is anticipated to be the fastest-growing application segment owing to widespread usage in radar cross reduction and EMI reduction. Recent developments in field of microwave absorbers have widened their use in wireless telecommunication with help of noise suppression sheets.

Supply chain of the market includes raw material suppliers, manufacturers, distributors, and end users. Raw materials used in manufacturing are rubber, silicone, polyurethane, and various other insulating materials. Manufacturers procure raw materials from companies such as VCM; American Urethane, Inc.; and Weaver Industries, Inc.

Microwave absorbers are manufactured by altering magnetic and dielectric properties of raw materials. They are later customized based on end-user requirements. Final finished products are available in form of foam sheets, pyramidal sheets, and die cuts. Manufacturers market their products through their respective e-commerce portals and a well distributed network of suppliers and distributors.

The market is fragmented in nature and is marked by presence of various well-established players. High cost of product research and development activities and huge investment in QC and QA of products are some of the limiting factors for market entry. Leading players in the market include Cuming Microwave Corporation, LairdTech, and ARC Technologies. Availability of products through e-commerce websites is one of the key strategies opted by players in order to improve penetration of microwave absorbers across the globe.

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