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Metal Matrix Composite Market Share, Key Drivers, Top Companies, Segmentation, Overview And Forecast To 2032
Metal Matrix Composite Market Analysis
The Business Research Company's Metal Matrix Composite Global Market Report 2023 identifies growth of the automotive industry as the major driver for the metal matrix composite market's growth in the forecast period. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles. Metal matrix composites are used to lower vehicle weight and enhance the efficiency of automobiles.
The global metal matrix composite market size grew from $0.53 billion in 2022 to $0.58 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global metal matrix composite is expected to grow to $0.81 billion in 2027 at a CAGR of 8.6%.
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Major competitors in the metal matrix composite market are 3M, CPS Technologies, GKN Sinter Metals, CeramTec, Ferrotec Corporation.
A key trend in the metal matrix composite market includes growth in technological advancements . Major institutes and companies are focusing on projects involving advanced composite materials for the automotive and aerospace industries. According to a study published in 2021, Al-based metal matrix composites (AMMCs) have enormous applications in aerospace, automobiles, and other structural applications. Compared with conventional processes such as casting and powder metallurgy, AMMCs processed by additive manufacturing show a significant difference in microstructure and properties. Further, in 2019, the CSIR-National Institute for Interdisciplinary Science and Technology launched an Indo-German project on innovative composite materials involving near-net shape (NIIST) technology. The objective of the new CSIR-NIIST project is to produce lightweight, near-net-form carbon fiber-reinforced aluminium composites and parts for the automotive and aerospace sectors.
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The metal matrix composite market is segmented -
1) By Matrix Type: Aluminum MMC, Magnesium MMC, Copper MMC, Super Alloys MMC, Other Matrix Types
2) By Production Technology: Liquid Metal Infiltration, Powder Metallurgy, Casting, Deposition Techniques
3) By End-Use Industry: Automotive and Transportation, Aerospace and Defense, Electrical and Electronics, Industrial, and Other End-User Industries
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the metal matrix composite market.
The Business Research Company's "Global Metal Matrix Composite Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Metal Matrix Composite Market Include:
1. Executive Summary
2. Metal Matrix Composite Market Characteristics
3. Metal Matrix Composite Market Trends And Strategies
4. Metal Matrix Composite Market - Macro Economic Scenario
5. Metal Matrix Composite Market Size And Growth
……..
26. Africa Metal Matrix Composite Market
27. Metal Matrix Composite Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Metal Matrix Composite Market
29. Metal Matrix Composite Market Future Outlook and Potential Analysis
30. Appendix
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