Global Metal Matrix Composite Market by Product (Aluminum, Refractory), by End-use (Electronics, Ground Transportation) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global metal matrix composite market was valued at USD 339.3 millions in 2019. It is projected to grow at 6.4% compound annual growth rate (CAGR), between 2020 and 2027. The market will be driven by the increasing demand for lightweight and high performance materials in the aerospace and automotive industries. Composites are made up of metal alloys with particulates, wires, fibers, and whiskers. MMC (metal matrix composite) is a popular choice in aerospace and automotive because of their excellent mechanical properties and wide range of applications. In order to increase fuel efficiency, rising fuel prices have created a need for lightweight components. This will have a positive effect on market growth.

North America will be the largest region market for the next five years due to the high demand and strong growth in the aerospace, electronics, automotive, and defense industries. The U.S. is a major manufacturer of cargo and large passenger planes, as well as defense and military aircraft. The region's strict regulations on automotive emissions are expected to increase product demand during the forecast period.

Automotive and aerospace component manufacturers have been forced to reduce automotive emissions due to environmental concerns. The curb weight is a key factor in determining vehicle pollution and fuel efficiency. It can be reduced to dramatically improve fuel efficiency and reduce pollution. This will lead to a rise in demand for MMCs in the future.

Based on the temperature of metallic matrix used during processing, there are two types of MMC manufacturing processes. The most common liquid-state processes are stir casting, compocasting and squeeze casting. Solid-state processes include Powder Metallurgy, diffusion bonds and Friction Stir Welding.

Market growth will be slowed by factors such as low yields, high manufacturing costs and complicated fabrication techniques. To develop cost-effective products, major market players have invested heavily in R&D. Many government agencies are funding projects that focus on new products and improved manufacturing processes.

Product Insights

Refractory products accounted for more than 39% of the total market share in the metal matrix composites industry in 2019. The majority of refractory materials are tungsten and niobium. These materials are lightweight and durable, which will drive an increase in demand from various industries. The segment is expected to grow due to the growing demand for high-precision and durable equipment in electronics over the forecast period.

Composites that contain tungsten carbides and molybdenum are a key component in many industries such as automotive, electronics, mining, metal processing and aerospace. Tungsten carbide is used in many areas, including heat sinks, resistance welding and ammunition manufacturing. The segment will continue to grow due to growing demand for electronic products and display devices.

In terms of revenue, the aluminum product segment is expected to grow at 6.6% during the forecast period. MMCs made from aluminum are widely used in aerospace and automotive applications industries. This is due to their advantages, which include high stiffness, higher strength, increased temperature properties, lower density, better wear resistance and controlled thermal expansion.

Because of their resistance to corrosion, high temperatures, high stress and temperatures, toughness and strength, metallurgical stability and a combination of these factors, nickel and alloys are widely used in aerospace, marine and automotive industries. They are not recommended for use in some applications due to their poor creep resistance and high densities.

End-use Insights

The market was led by ground transportation, which accounted for more than 50% of global revenue share in 2019. Ground transportation is defined by commodity trade, regional economy and business. Segment growth is expected to be driven by the increasing demand for high performance materials in bulk and passenger cars within the transportation industry.

Many vehicle components are made from metal matrix composites such as brake fins and driveshafts. MMCs can also be used to make many railway vehicle components such as brake rotors, brake caliper liners, engine blocks, pistons, bearings, and engine blocks. MMCs will be more in demand due to the increasing importance of lightweight railway vehicles over the forecast period.

In terms of revenue, electronics/thermal management will see the fastest expected CAGR. The electronics industry will see a rise in demand for MMCs due to recent advances in microelectronics and shifting trends in electronic component use, including computer parts.

Composites have a higher specific stiffness and strength which can improve aircraft performance. MMCs are primarily used in military and commercial aircraft. This is why there is an increase in demand in the aerospace sector. The MMCs' enhanced resistance to mechanical and thermal stress will also make them a popular choice for space-related applications. This is expected to continue to increase over the forecast period.

Regional Insights

North America dominated the market, accounting for 43.2% global revenue share in 2019. This is due to the presence of many major aerospace and automotive manufacturers in the region. The MMC market will be driven by stringent government regulations regarding automotive pollution and the growing demand for fuel-efficient cars over the forecast period.

Europe's product demand is expected to rise significantly, thanks to the U.K. and France, Italy, France and Italy. It is expected that the well-established electronics, aerospace & defense and construction industries will continue to grow in Europe. This is likely to increase market development.

Due to strong growth in automobile production and the expansion of their manufacturing sector, developing countries in Asia Pacific, like India, will see faster gains in the market. MMC manufacturers will benefit from the sustainable growth opportunities provided by the high concentrations of electronics producers in China, Japan and South Korea over the forecast period.

Over the forecast period, the Middle East's growing defense and aerospace industry is expected to increase the demand for MMCs. To meet growing consumer demand, countries like the UAE and Kuwait are expanding their trucking and freight transport sectors. These factors will have a positive effect on overall market growth.

Market Share Insights & Key Companies

Global market is relatively stable. The major companies compete on the basis a variety of parameters, including company reputation, product performance, price and quality, reliability, technical competence, and corporate reputation. Market players adopt a variety of strategies, including new product development, expansion of manufacturing capacity, product portfolio and distribution network.

Long-term agreements and joint ventures among MMC manufacturers with leading end-users are a key trend in the market. This allows market players to keep their clients and ensures long-term business opportunities. End-user manufacturers invest in long-term relationships to develop applications-specific products and gain a competitive advantage in this market. The following are some of the most prominent players in the market for metal matrix composites:

• Materion Corporation

• GKN plc

• 3M

• ADMA Products, Inc.

• TISICS Ltd.

• Thermal Transfer Composites LLC

• DWA Aluminum Composites USA, Inc.

• CPS Technologies Corporation

• Deutsche Edelstahlwerke GmbH

• Plansee Group

• Sandvik AB

• Mi-Tech Tungsten Metals, LLC

• DAT Alloytech Company Limited

• AMETEK Specialty Metal Products

• CeramTec

• Santier, Inc.

Up Market Research published a new report titled “Metal Matrix Composite Market research report which is segmented by Product (Aluminum, Refractory), by End-use (Electronics, Ground Transportation), By Players/Companies Mi-Tech Tungsten Metals LLC, Thermal Transfer Composites LLC, DAT Alloytech Company Limited, Deutsche Edelstahlwerke GmbH, AMETEK Specialty Metal Products, TISICS Ltd, Materion Corporation, CeramTec, GKN plc, 3M, Santier Inc, CPS Technologies Corporation, Sandvik AB, Plansee Group, ADMA Products Inc, DWA Aluminum Composites USA Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Metal Matrix Composite Market Report Segments:

The market is segmented by Product (Aluminum, Refractory), by End-use (Electronics, Ground Transportation).

Metal Matrix Composite Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Metal Matrix Composite Market

Overview of the regional outlook of the Metal Matrix Composite Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Metal Matrix Composite Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Metal Matrix Composite Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Aluminum

                2. Refractory

                1. Electronics

                2. Ground Transportation

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Metal Matrix Composite Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the Metal Matrix Composite Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.