Metamaterial Medium Market Expansion Potential Areas for Strategic Entry

According to a report published by Allied Market Research, the global metamaterial medium market is projected to reach $1,387 million by 2022, growing at a CAGR of 39.7% from 2016 to 2022. North America dominated the market in 2015, holding more than half of the global share. The antenna segment led the market that year, while the frequency selective surfaces segment is expected to witness the fastest growth during the analysis period.

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Definition and Properties:

Metamaterial medium is a macroscopic composite material with a man-made, three-dimensional, periodic cellular structure designed to produce unique physical properties such as negative permeability and permittivity, which are not available in natural materials. This artificial medium is characterized by a negative refractive index and is most effective when it exhibits zero permeability and permittivity. Such properties make it ideal for manufacturing high-directivity antennas, enabling super-resolution in the far-field, negative refraction of wavelengths, and enhanced spontaneous emission.

Market Dynamics:

The growing demand for efficient sensing and transmitting systems across various industries has significantly driven the metamaterial medium market. In the optics industry, metamaterial mediums are increasingly sought after as alternatives to conventional materials. The market is also fueled by increased investments from public and private sectors in materials with unique physical properties.

However, the market faces challenges such as high initial manufacturing costs and insufficient research despite substantial R&D investments. These factors restrain market growth.

End-Use Insights:

The telecommunications sector is the largest end user of metamaterial mediums, utilizing its capabilities to alter the performance of the electromagnetic spectrum. This sector is expected to grow at a CAGR of 25.2% from 2016 to 2022. Antennas are the predominant application of metamaterial mediums, owing to their miniaturizing properties and ability to track satellites globally without repositioning.

Regional and Segment Analysis:

Europe is anticipated to be the fastest-growing region, registering a CAGR of 45.7% during the forecast period. As of 2015, commercialized products were limited to the antenna segment. Sensing applications are expected to grow rapidly once commercialization begins. By 2022, the telecommunications market is expected to account for half of the market share. The antenna segment is projected to grow at a CAGR of 17.7%, while the optics segment is forecasted to grow the fastest during the analysis period.

Asia-Pacific is expected to continue leading the market, growing at a CAGR of 43.3% during the forecast period. Along with Europe, these regions accounted for more than two-fifths of the global market share in 2014. This trend is driven by the presence of key players, raw material suppliers, and increased government efforts to advance sensing and telecommunication industries.

Key Players:

Prominent companies in the metamaterial medium market include Kymeta Corporation, Metamaterial Medium Technologies Inc., Metamagnetics Inc., Jem Engineering LLC, Fractal Antenna Systems Inc., Applied EM Inc., Nanosonic Inc., Alps Electric Co. Ltd., Teraview Ltd., and Plasmonics Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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