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Metamaterial Technologies Market Key Information By Top Key Player Echodyne, Metamagnetics Inc., Kymeta Corporation, Evolv Technologies, Sandvik Materials Technology, Alight Technologies, Colossal Storage Corporation, Fractal Antenna Systems, Fianium

10-30-2018 12:30 PM CET | Business, Economy, Finances, Banking & Insurance

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Metamaterial Technologies Market, Global Metamaterial Technologies Market Size, Metamaterial Technologies Industry

Metamaterial Technologies Market, Global Metamaterial Technologies Market Size, Metamaterial Technologies Industry

The global metamaterial technologies market share is anticipated soar high in the forthcoming years, owing to rising wireless communication networks, increasing adoption of solar photovoltaic cells, and burgeoning investments in R&D activities for advanced solutions. The growing penetration of metamaterial technologies in the wireless communication sector on account of their astounding electromagnetic and acoustic characteristics is projected to upsurge the product demand on the global scale. Indeed, metamaterial antennas have successfully replaced conventional antennas in transmission based applications across several industries. In a recent turn of events, Duke University’s researchers have publicized that they are teaming up with researchers from the University of Washington and business experts at Northrop Grumman to fabricate a unique range of metamaterial antennas that would be tailored to the angles and contours of a contemporary martial aircraft, aimed at enhancing defense potency. In view of such developments, it is prudent to mention that the advancements in communication sector will positively influence metamaterial technologies market growth. Metamaterial Technologies Market size will surpass USD 2.5 billion by 2024; according to a new research report.

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The price of solar electricity is almost five times higher than that of coal generated electricity. Most of this cost can be attributed to the silicon layers in the solar cells. Adding a metamaterial thin film coating can reduce the price significantly and will make solar cells more affordable. Global solar PV cell revenue was more than USD 110 billion and is projected to increase at a healthy rate driving the overall metamaterial technologies market in the forecast timeframe.

Technical challenges pertaining to development of practical metamaterial products is a major challenge for manufacturers. A product based on these materials can only be successful if it is smaller and more closely packed than the target radiation wavelength. This requires manufactures to invest on technologies that can dynamically change the properties of such materials. Hence, it may take a few years before prototype products based on these materials are fully commercialized for large scale applications and this may hinder the metamaterial technologies market growth slightly in the forecast timeframe.

Europe metamaterial technologies market size will likely exceed USD 600 million by the end of 2024. The regional market will be augmented by increased funding by the European Commission on development and research on metamaterial technologies, mostly in solar and optics applications. Latin America metamaterials market will experience gains due to growing information & technology and telecommunications sector. The region will likely generate revenue above USD 30 million by the end of 2024.

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Metamaterial technologies market product segmentation has five categories including radio & microwave, photonic, terahertz, acoustic, and others. Terahertz segment will likely generate revenue above USD 500 million by 2024. This segment will grow at a healthy rate in the forecast years owing to the product usage in security applications and medical imaging. Acoustic segment is anticipated to gain by a CAGR above 20% till 2024. Product demand for applications in audio systems, soundproofing coatings, thermal insulators, heat exchangers, vibration dampers, sonar technologies, etc. will drive the growth of this segment in the forecast timeframe.

Acoustic devices, imaging, communication & radar, and solar are the four major applications in the metamaterial technologies market. Acoustic devices application segment is anticipated to gain by a CAGR above 20% in the forecast years. The segments growth will be augmented by their use in sonar avoidance, architectural acoustics, stealth technology, acoustic hyper lenses, etc. Imaging application segment market share is anticipated to cross one fifth of the total market and it will likely grow by CAGR above 21%. The segments growth will be driven due to its advantages over other materials in medical and industrial imaging.

Metamaterial technologies market is dominated by American companies like Echodyne, Metamagnetics Inc., Kymeta Corporation, and Evolv Technologies. Other key manufacturers include Alight Technologies, Applied EM Inc., Colossal Storage Corporation, Fractal Antenna Systems, Fianium, Inframat Corporation, Medical Wireless Sensing Ltd., Luminus Devices Inc, Nanosteel Company, Sandvik Materials Technology, and Opalux.

Table of Content:

Chapter 1. Metamaterial Technologies Market Methodology and Scope

Chapter 2. Metamaterial Technologies Market Executive Summary

Chapter 3. Metamaterial Technologies Industry Insights

Chapter 4. Metamaterial Technologies Market, By Product

Chapter 5. Metamaterial Technologies Market, By Application

Chapter 6. Metamaterial Technologies Market, By Region

Chapter 7. Metamaterial Technologies Market Company Profiles

Outer scope of this report the growing adoption of metamaterial technologies can also be attributed to product’s ability to amplify the absorption capacity of solar cells. Increasing awareness about clean energy coupled with stringent government regulations regarding energy preservation & sustainability would translate into high demand for solar cells, thereby increasing market growth prospects over the years ahead. For instance, a Rochester Institute of Technology researcher has developed an innovative solar sailing technology for NASA by implementing metamaterials to steer reflected photons for interstellar, interplanetary, and space travel. In the coming years, metamaterial technologies market size would grow exponentially on the grounds of rising product demand across a slew of industry verticals.

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