Metal Matrix Composite Market is Forecasted to Reach US$ 472 Million in 2028, Says Stratview Research

The global metal matrix composite market is projected to witness a growth rate of 6% annually from 2023 to 2028, with an anticipated size of US$ 472 million by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global metal matrix composite market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:
Market Size in 2028: US$ 472 million
Growth (CAGR): 6.0% during 2023-2028
Leading Application Type: Aerospace and Defense
Leading Matrix Type: Aluminum
Leading Reinforcement Type: Silicon Carbide
Leading Reinforcement Form Type: Continuous
Leading Process Type: Solid-State Processing
Leading Region: North America
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Metal Matrix Composite Market:
The global metal matrix composite market is segmented based on application type, matrix type, reinforcement type, reinforcement form type, process type, and region.

Based on application type - The metal matrix composites market is segmented into aerospace & defense and others. Aerospace & Defense is projected to maintain its dominant position in the market during the forecast period. An increase in the production rate of composite-rich aircraft programs, growing demand for lightweight yet durable parts, the advantages of MMC (Metal Matrix Composites), such as their high strength-to-weight ratio, durability, and corrosion resistance, making them ideal for lightweight structural components in aircraft and spacecraft, and the expanding utilization of MMCs in defense applications, including armor, are expected to be significant growth drivers of the market.

Based on matrix type - The market is segmented into aluminum, titanium, and others. Aluminum is expected to persist as the foremost matrix type in the market during the forecast period due to its low weight and cost-effectiveness properties. Titanium is expected to remain the fastest-growing matrix type in the market during the forecast period owing to its numerous advantages, such as a high-strength-to-weight ratio, high tensile and compressive strength, a low coefficient of thermal expansion, and high fatigue resistance.

Based on reinforcement type - The market is segmented into silicon carbide, aluminum oxide, and others. Silicon carbide is poised to uphold its prominent status as the dominant reinforcement type in the market during the forecast period owing to its lightweight, high strength and stiffness, high-temperature resistance, abrasion, fatigue, and corrosion resistance properties.

Based on reinforcement form type - The market is segmented into continuous, discontinuous, and particulate. Continuous reinforcement is projected to remain dominant in the market during the forecast period, as it provides a high level of strength and stiffness to the composite material, which is crucial for structural components in aircraft and other applications that need to withstand high loads and stresses.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the dominant market for metal matrix composites during the forecast period. This growth outlook is majorly attributed to the following-
· The USA is likely to remain the growth engine of the region's market as it is the manufacturing hub of the aerospace industry, along with the presence of key MMC manufacturers, tier players, OEMs, and other industry players.
· Asia-Pacific is estimated to remain the fastest-growing market for metal matrix composites in the foreseeable future. Increasing investment in various industries, including aerospace, automotive, electronics, and energy, and the growing adoption of advanced technologies are key factors driving the region's market.

Metal Matrix Composite Market Drivers:
Some of the key drivers listed in the report are given below.
· The increase in the adoption of MMCs in various applications across different industries.
· The increasing production of composite-rich aircraft.
· The growing utilization of metal matrix composites in the space industry, and numerous advantages of MMCs, such as a high strength-to-weight ratio, excellent corrosion resistance, excellent fatigue strength, lightweight, and excellent durability, are key factors collectively driving market growth.
· Moreover, MMC's substantial usage in electronic packaging, primarily for effective heat management in electronic devices, is complemented by its increasing adoption in semiconductor applications. This expansion is a significant catalyst for the market's growth in the coming years.

Top 7 Companies in the Metal Matrix Composite Market:
Stratview Research has identified the following companies as the top market players (arranged alphabetically).
• AMETEK, Inc.
• CPS Technologies Corporation
• Denka Company Ltd.
• Deutsche Edelstahlwerke (part of the Swiss Steel Group)
• Ferrotec
• Materion Corporation
• Plansee SE

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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