Press release
Metal Matrix Composite Market Research Report 2024-2033: Size, Growth, and Emerging Trends
Metal Matrix Composite Market
The Business Research Company presents an extensive market research report on the Metal Matrix Composite Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The metal matrix composite market size has grown strongly in recent years. It will grow from $0.56 billion in 2023 to $0.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid growth in the automotive industry, increasing demand for lightweight materials in the aerospace and defense industry, and increase in government support.
The metal matrix composite market size is expected to see strong growth in the next few years. It will grow to $0.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increased demand across various applications, increased demand for powder metallurgy, and rising demand for aluminum components. Major trends in the forecast period include invest in technological advancements to meet the demand from customers and gain a competitive advantage over other players operating in the industry, should consider investing in aircraft manufacturing due to mmc's low costs and versatility, manufacturers should consider targeting applications in the automobile industry because of mmc's properties of being lightweight and resistant to corrosion, consider developing mmc's with self-healing capabilities, and targeting the electrical devices industry owing to its demand for high heat resistance.
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Key Market Players:
Major companies operating in the metal matrix composite market report are Materion Corporation, CPS Technologies Corporation, CeramTec, Ferrotec Holdings Corporation, DWA Aluminum Composites USA, GKN Sinter Metals, 3M, Plansee SE, Sandvik, Thermal Transfer Composites LLC, Sumitomo Electric Industries, Ametek, Denka China Baowu Group, NANJING YUNHAI SPECIAL METALS Co. Ltd, QingHai Salt Lake Industry Co. Ltd, Uyemura & Co. Ltd, Kennametal Inc., Apex Tools Group, Akar Tools Ltd., Channellock Inc., DAT Alloytech Company Limited, China Baowu Group, Deutsche Edelstahlwerke GmbH, 3A Composites, TISIC Metal Composites, Tenmat, Flowserve, Timken, Amteke Finland Oy, Schaeffler, Mueller Industries, Ball Corporation, Snap-on, ArcelorMittal, ThyssenKrupp, Tata Steel, Gibraltar Industries, Mi-Tech Tungsten Metals LLC, Metal Matrix Cast Composites LLC, Santier Inc., Adma Products Inc., MMC Group, Emirates Global Aluminum, Alba, Aboura Metals, Qatalum, Sohar Aluminum Emirates Metallic Company Industries (EMIC), Qatar Steel Ltd ., Arabian Metal Industries, Saudi Arabian Mining Company, Al Shahin Metal Industries, Pan gulf Industrial Investment, National Iranian Copper Industries, Egyptian Steel Ltd, Glencore, BFG Africa, AAT Composites, Hexcel Andrew Mentis Ltd., Argent Industrial Ltd., Afmetco Ltd, CIS Engineering Ltd., GRI Wind Steel South Africa Ltd., Fenster Aluminum Ltd., Consolidated Steel Industries Ltd., Hulamin Ltd., Leita Steel Ltd, Kwikspace Modular Buildings Ltd,
Market Drivers:
The growth of the automotive industry is expected to fuel the growth of the metal matrix composite market in the coming years. 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. For instance, in May 2023, according to a report published by the European Automobile Manufacturers' Association (ACEA), in 2022, 85.4 million motor vehicles were produced worldwide, a 5.7% increase over 2021. Moreover, according to the International Organization of Motor Vehicle Manufacturers, a 36-national trade association, the total production of cars and commercial vehicles in 2021 was 80,145,988, which increased to 85,016,728 in 2022. Therefore, the expansion of the automotive industry propels the growth of the metal matrix composite market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/metal-matrix-composite-global-market-report
The metal matrix composite market covered in this report 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, Other End-User Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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