Metal Matrix Composite Market Size to Reach US$ 735.8 Million, Globally, by 2028 at 6.78% CAGR

According to the latest report by IMARC Group, titled, "Metal Matrix Composite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global metal matrix composite market size reached US$ 488.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 735.8 Million by 2028, exhibiting a growth rate (CAGR) of 6.78% during 2023-2028.

Market Overview:

Metal matrix composites (MMCs) are a type of composite material that consists of a combination of metals, alloys, or intermetallic compounds with various particulates, whiskers, or continuous fibers. They are manufactured by bonding alternate layers of metals or alloys to improve toughness and damage tolerance. They offer several advantages, such as enhanced strength, wear and creep resistance, reduced thermal expansion, and increased damping. They possess high shear strength, abrasion resistance, non-flammability, and minimal attack by fuels and solvents and can be shaped and treated using conventional equipment. As a result, metal matrix composites find extensive applications in the aerospace, defense, electronics, marine, and packaging industries across the globe.

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Metal Matrix Composite Market Trends and Drivers:

The global metal matrix composites market is primarily driven by rising demand for lightweight and high-performance materials in the aerospace industry to improve fuel efficiency and combat the increasing fuel prices. Moreover, the surging awareness among people about the advantages of MMCs over metals is positively influencing the market growth. Additionally, increasing demand for refractory materials, such as rhenium, molybdenum, tungsten, and niobium, across different industries has catalyzed market growth. Furthermore, escalating demand for durable and high-precision equipment from the electronics sector is contributing to market growth. Other factors, including the rising production of portable computing devices, the growing demand for electric vehicles, and the increasing number of space missions, are also anticipated to drive the market further.

Metal Matrix Composite Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

3M Company
ADMA Products Inc.
CeramTec GmbH
CPS Technologies Corporation
Denka Company Limited
Deutsche Edelstahlwerke Services GmbH (Swiss Steel Holding AG)
DWA Aluminum Composites USA Inc.
Ferrotec Holdings Corporation
Materion Corporation
Melrose Industries plc
Plansee Group
SANTIER Inc. (EGIDE Group)
TISICS Ltd, etc.

The report has segmented the market based on type, reinforcement material, reinforcement type, production technology, and end use industry.

Type Insights:
Aluminium
Nickel
Refractory
Others

Reinforcement Material Insights:
Silicon Carbide
Aluminum Oxide
Titanium Carbide
Others

Reinforcement Type Insights:
Discontinuous
Continuous
Particles

Production Technology Insights:
Powder Metallurgy
Liquid Metal Infiltration
Casting
Deposition Techniques

End Use Industry Insights:
Automotive and Locomotive
Electrical and Electronics
Aerospace and Defense
Industrial
Others

Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

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Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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