Metal Matrix Composite Market, will exhibit a CAGR of 6.70%,to reach the USD 1,013.22 billion by 2029,Trends, Key Drivers Analysis

Data Bridge Market Research analyses the metal matrix composite market will exhibit a CAGR of 6.70% for the forecast period of 2022-2029 and is expected to reach the USD 1,013.22 billion by 2029.

Metal matrix composites (MMCs) are composite materials made up of metal plus a secondary constituent that could be another metal or non-metallic substance, such as an organic compound or a ceramic. Metal matrix composites provide better mechanical and physical features, such as fire resistance and moisture resistance, as well as tensile strength and the ability to be used across a wide temperature range.

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The rising demand for lightweight and strong MMC from aerospace and defense industry will influence the growth rate of the metal matrix composite market. The rising use of MMCs for manufacturing structural aerospace composite parts is the key elements driving market expansion. Along with this, superior properties of metal matrix composites over metals will increase the demand for the metal matrix composite market. The metal matrix composite market is also being driven by significant factors such as the upsurge in the level of disposable income and increasing urbanization. Furthermore, rising concern about environmental degradation and growing levels of carbon emissions and pollution will enhance the growth rate of metal matrix composite market. Also, rapidly rising industrialization will act as major factors influencing the growth of metal matrix composite market. The increasing trend for weight reduction in passenger cars and commercial vehicles will have positive impact on the growth rate of metal matrix composite market in automotive industry.  

Moreover, expanding demand from end-user industries and increasing research and development activities will create beneficial opportunities for the growth of the metal matrix composite market. Additionally, rise in the number of applications such as robots, high-speed machinery and high-speed rotating shafts and untapped potential in emerging market will provide lucrative opportunities for market's growth.

However, complicated manufacturing process and concerns about reparability and recyclability will hamper the metal matrix composite market's growth rate. Also, slowdown in automotive production and emergence of unfavourable conditions due to COVID-19 outbreak will further pose challenges to the growth of metal matrix composite market. Maintenance of uninterrupted supply chain and operating at full capacity and the lack of skilled workforce will act as major restrains and further impede the growth rate metal matrix composite market.

Key Players Analysis:

Some of the major players operating in the metal matrix composite market are Materion Corporation, CPS Technologies Corp, GKN Sinter Metals Engineering GmbH, 3M, Deutsche Edelstahlwerke Services GmbH, Plansee Group, Ferrotec (USA) Corporation, CeramTec GmbH, Sandvik AB, Plansee SE, TISICS Ltd., ADMA Products, Inc., Sumitomo Electric Industries, Ltd., SANTIER, 3A Composites Holding AG, Hitachi Metals, Ltd., Mi-Tech Tungsten Metals, LLC, and DWA Aluminum Composites USA, Inc., among others.

Global Metal Matrix Composite Market Scope and Market Size

The metal matrix composite market is segmented on the basis of product type, production technology, reinforcement type and end use industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.

On the basis of product type, the market is segmented into aluminium metal matrix composite, magnesium metal matrix composite, refractory metal matrix composite and others.

On the basis of production technology, the market is segmented into liquid metal infiltration, powder metallurgy, casting and depositions techniques. The metal matrix composite market is further segmented based on the basis of liquid metal infiltration segments into gas pressure infiltration, squeeze casting infiltration method and others. The powder metallurgy segment is further classified on the basis of hot pressing, ball mill mixing, extrusion/rolling and vacuum pressing. Casting segment is further segmented into stir casting, gravity casting, low-pressure casting and compo-casting. The depositions techniques is further categorized into electroplating, spray foaming and chemical vapour deposition.

On the basis of reinforcement type, the metal matrix composite market is divided into continuous reinforcement, discontinuous reinforcement and particle. The discontinuous reinforcement segment is further classified into whiskers and short fibers.

Global metal matrix composite market is also segmented based on end use industry into ground transportation, thermal management, aerospace, industrial and others.

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