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Metal Matrix Composites (MMC) Market is Projected to Represent Incremental Opportunity of US$ 357.3 Million by 2019
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Metal Matrix Composites (MMC) are composite materials comprising at least two components: (i) a metal matrix (ii) reinforcement. MMC are used to produce lightweight and durable parts for ground transportation, electronics/thermal management, aerospace, defense, marine, nuclear and other industries. The ground transportation segment was the largest end-user of MMC in 2012, while electronics/thermal management is likely to be the fastest growing end-user segment in the near future. Rising global demand for MMC from ground transportation, electronics/thermal management and aerospace industries is estimated to drive the global MMC market in the next few years.
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Ground transportation was the largest end-user segment of MMC in 2012, accounting for 51.9% of the global demand. The segment is projected to maintain its leading position in the next six years with a significant growth rate. Furthermore, the electronics/thermal management segment is growing at a rapid pace and is anticipated to continue to grow in the next few years. Growth in automotive and electronics/thermal management industries across the world, especially in Asia Pacific, is expected to drive demand for MMC in the next six years. Additionally, the aerospace segment of the MMC market is projected to record stable growth in the near future due to positive outlook of the aerospace industry.
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North America dominated the global MMC market, accounting for 34.8% of global volume consumed in 2012. Growth of the MMC market in North America is primarily driven by rising demand from automotive and aerospace industries in the U.S. North America was followed by Asia Pacific with 29.3% share in the global volume consumption. Increasing demand from countries in Asia such as India and China is anticipated to drive the MMC market in Asia Pacific in the near future.
Major players in the MMC market include Materion Corporation, Sandvik AB, GKN PLC, 3M, Plansee SE, Sumitomo Electric Industries, Ltd., Hitachi Metals, Ltd., CPS Technologies Corporation, Deutsche Edelstahlwerke GmbH and 3A Composites.
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