Enjoy complimentary customisation on priority with our Enterprise License!
The Global Metal Matrix Composites Market size is estimated to grow at a CAGR of 7.32% between 2022 and 2027 with the market size forecast to increase by USD 163.7 million.
This metal matrix composites market report extensively covers market segmentation by product (aluminum, nickel, and refractory), end-user (automotive and locomotive, electrical and electronics, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
The growth of the market depends on several factors, including the increasing demand from the aerospace and defense industries, the growing need for lightweight materials in the automotive industry, and advancements in manufacturing technologies.
To learn more about this report, Request Free Sample
Metal matrix composites (MMCs) are high-tech materials made of a second phase of ceramic, carbon, or other materials reinforced with a metal matrix such as titanium, magnesium, or aluminum. High rigidity, strength, and wear resistance are just a few of the superior qualities that MMCs have to offer, making them ideal for high-performance applications.
The market share growth by the aluminum segment will be significant during the forecast period. Aluminum-based composites are in high demand in the global metal matrix composites market due to their superior mechanical characteristics, lightweight, and wide range of uses in a variety of industries, including aerospace, automotive, and electronics. Composites made from aluminum improve stiffness, strength, and thermal stability, making them perfect for high-performance applications.
Get a glance at the market contribution of various segments View the PDF Sample
The aluminum segment was valued at USD 144.30 million in 2017 and continued to grow until 2021. The market is being driven by increasing demands for lightweight materials to increase performance efficiency, decrease emissions, and improve fuel cost. The rising trend of end-use industries replacing conventional materials with advanced composites is anticipated to further increase the demand for aluminum-based MMC and, as a result, propelling the growth of the global metal matrix composites market during the forecast period.
Based on end-user, the automotive and locomotive segment dominates the market. Automobile and locomotive applications are becoming more popular in the global metal matrix composites market. MMC is being used more in the production of engine parts, brake systems, as well as suspension systems for automobiles and locomotives because of their lightweight, high strength, and stiffness. The automotive and locomotive industries are always looking for new materials with cutting-edge properties that can improve performance along with fuel efficiency while lowering weight. MMC is a good option for automotive and locomotive applications because they provide excellent properties that satisfy these needs.
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
The metal matrix composites market in the region is expanding steadily as a result of rising demand from a variety of sectors, including the aerospace, automotive, and defense industries. High strength, lightweight, and excellent thermal and electrical conductivity are a few of the advantages that MMC offers. MMC is perfect for applications, which require performance and reliability, and the regional metal matrix composites market is also expanding as a result of ongoing research and development efforts to enhance the characteristics and broaden the applications of MMCs.
Increasing demand from aerospace and defense industries are drivers boosting the MMC market growth. Owing to their exceptional qualities, like high strength, lightweight, and superior thermal and mechanical characteristics, MMC is in high demand on the international market. They are a great option for aerospace and defense applications where reliability and efficiency are important considerations because of these characteristics. In order to increase energy efficiency and payload capacity, the aerospace and defense industries need materials that can withstand harsh environments, deliver superior performance, and reduce weight.
Increased use of MMCs in additive manufacturing is an emerging trend during the forecast period. The global metal matrix composites market is beginning to experience a significant shift toward additive manufacturing. It is also known as 3D printing. The adoption of additive manufacturing is growing across a variety of industries because of its capacity to create intricate geometries and customize MMCs' characteristics. By using 3D printing, complex structures such as lattice patterns can be added to MMCs to improve their mechanical properties, reduce their weight, and allow for more design flexibility. In addition, MMC properties, including reinforcement content, orientation, and distribution, may be modified using additive manufacturing to meet application requirements.
High production costs of MMC are a major challenge impeding the MMC market growth during the forecast period. The need for specialized machinery and intricate manufacturing procedures to produce MMC will be able to make widespread market adoption difficult. Production methods like powder metallurgy, infiltration methods, and additive manufacturing frequently involve complex steps, exact parameter control, and specialized equipment, raising production costs. The overall competitiveness of MMCs in the market shall be negatively impacted as a result of the higher production costs because they may be more expensive than conventional materials. Cost-effectiveness and affordability issues may arise as a result, particularly in price-sensitive markets or sectors.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Materion Corp. - The company offers metal matrix composites MMCs such as AlBeMet composites, aluminum beryllium MMCs, and SupremEX 225XE, 620XF, 640XA aluminum silicon carbide MMCs.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
3M Co., ADMA Products Inc., Advanced Composite Corp., AMG Advanced Metallurgical Group NV, Applied Thin Films Inc., CeramTec GmbH, CPS Technologies Corp., Denka Co. Ltd., DWA Aluminum Composites USA Inc., Ferrotec Holdings Corp., GKN Sinter Metals Engineering GmbH, Hunan Harvest Technology Development Co. Ltd., JGC Holdings Corp., Materion Corp., Metal Matrix Innovations, Plansee SE, SANTIER Inc., Schmolz plus Bickenbach AG, Thermal Transfer Composites LLC, and TISICS
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Metal Matrix Composites Market Customer Landscape
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The revenue growth of the metal matrix composites market in the region witnessed a decline in 2020 owing to the outbreak of COVID-19. The lockdowns imposed by the governments in the region during the first and second quarters of 2020 resulted in the temporary shutdown of manufacturing operations of vendors and various end-user industries, such as aerospace and defense, which led to a decline in the production of and demand for automobiles and airline bookings. As vaccination drives continue to roll out in the North American region, the metal matrix composites market has recovered from the impact of the COVID-19 pandemic.
Metal Matrix Composites Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.32% |
Market growth 2023-2027 |
USD 163.7 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.95 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., ADMA Products Inc., Advanced Composite Corp., AMG Advanced Metallurgical Group NV, Applied Thin Films Inc., CeramTec GmbH, CPS Technologies Corp., Denka Co. Ltd., DWA Aluminum Composites USA Inc., Ferrotec Holdings Corp., GKN Sinter Metals Engineering GmbH, Hunan Harvest Technology Development Co. Ltd., JGC Holdings Corp., Materion Corp., Metal Matrix Innovations, Plansee SE, SANTIER Inc., Schmolz plus Bickenbach AG, Thermal Transfer Composites LLC, and TISICS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.