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    Metal Matrix Composite Market | 2023-2028

    Metal Matrix Composite Market | 2023-2028
    Report code - SRAM309 Published On : Oct,2023 No. of Pages: 180
    Metal Matrix Composites Market Size, Share, Trend, Forecast, Competitive Analysis, and Gro See more...

    Market Insights

    Metal matrix composite (MMC) is a type of advanced material that consists of a metal matrix (such as aluminum or titanium) reinforced with particles, fibers, or whiskers to create a composite material with enhanced properties. It combines metals' strength and ductility with reinforcing materials' stiffness and wear resistance, resulting in composites with improved mechanical, thermal, and electrical properties. Due to these properties, MMC has various applications in different industries, including aerospace & defense, transportation (automotive and rail), energy, oil & gas, and electronics.

    The COVID-19 pandemic had a pervasive impact on various industries, including aerospace & defense, automotive, energy, and electronics. The aerospace & defense industry felt the most substantial influence as the pandemic led to a sharp decline in air travel, reducing demand for new aircraft, and high-performance structural materials like MMCs. Hence, the metal matrix composites market experienced a substantial downturn (15%+) in 2020.

    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 growth of the market in the coming years. Overall, the metal matrix composites market is likely to rebound at a promising CAGR of 6% in the long run to reach US$ 472 million in 2028.

    Recent Partnership: In March 2021, Alvant, a prominent expert in the production of metal matrix composite (MMC) materials, entered into a Memorandum of Understanding (MoU) aimed at advancing a strategic partnership with the advanced materials technology firm 3M. This collaboration is intended to expedite the enhancement of Alvant's capabilities and the discovery of practical applications in real-world scenarios.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Application-Type Analysis

    Aerospace & Defense and Others

    Aerospace and defense is the biggest market for MMCs and will maintain its position in the coming years too.

    Matrix-Type Analysis

    Aluminum, Titanium, and Others

    Aluminum holds a predominant position as the primary matrix in the market.

    Reinforcement-Type Analysis

    Silicon Carbide, Aluminum Oxide, and Others

    Silicon carbide maintains a leading role as the primary reinforcement in the market.

    Reinforcement Form-Type Analysis

    Continuous, Discontinuous, and Particulate

    Continuous stands out as the prevailing reinforcement form in the market.

    Process-Type Analysis

    Solid State Processing, Liquid State Processing, and Others

    Solid-state processing is anticipated to remain the most preferred process in the market.

    Regional Analysis

    North America, Europe, Asia Pacific, and The Rest of the World

    North America is expected to remain the dominant market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.

     

    Based on the 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. Other key applications of MMCs include electronic devices, semiconductors, engine components, brake systems, and suspension parts (in automotive).  

    Based on the 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 the 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 the 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.

    In terms of regions, North America is expected to remain the dominant market for metal matrix composites during the forecast period. 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.

    Segmentation

    The metal matrix composites market is segmented into the following categories. 

    Metal Matrix Composites Market, by Application Type

    • Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Metal Matrix Composites Market, by Matrix Type

    • Aluminum (Trend and Forecast)
    • Titanium (Trend and Forecast)
    • Others (Trend and Forecast)

    Metal Matrix Composites Market, by Reinforcement Type

    • Silicon Carbide (Trend and Forecast)
    • Aluminum Oxide (Trend and Forecast)
    • Others (Trend and Forecast)

    Metal Matrix Composites Market, by Reinforcement Form Type

    • Continuous MMCs (Trend and Forecast)
    • Discontinuous MMCs (Trend and Forecast)
    • Particulate MMCs (Trend and Forecast)

    Metal Matrix Composites Market, by Process Type

    • Solid State Processing (Trend and Forecast)
    • Liquid State Processing (Trend and Forecast)
    • Others (Trend and Forecast)

    Metal Matrix Composites Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Key Players

    The market is moderately populated, with the presence of some regional and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the metal matrix composites market.

    • Materion Corporation
    • Plansee SE
    • AMETEK, Inc.
    • CPS Technologies Corporation
    • Denka Company Ltd.
    • Deutsche Edelstahlwerke (part of the Swiss Steel Group)
    • Ferrotec

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s metal matrix composites market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for existing and new players
    • Key success factors

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQ)

    The metal matrix composites market is estimated to grow at a CAGR of 6% by 2028, driven by the growing utilization of metal matrix composites (MMCs) in the aerospace & defense, automotive, energy, electronics, and medical industries and the numerous advantages of MMC, such as a high strength-to-weight ratio, excellent corrosion resistance, excellent fatigue strength, lightweight, and excellent durability.

    Materion Corporation, Plansee SE, AMETEK, Inc., CPS Technologies Corporation, Denka Company Limited, Deutsche Edelstahlwerke (part of Swiss Steel Group), and Ferrotec are the leading players in the metal matrix composites market.

    North America is estimated to remain dominant in the metal matrix composites market in the foreseeable future. The USA remains the growth engine of the regions market, securing a mammoth position.

    Asia-Pacific is estimated to remain the fastest-growing market for metal matrix composites in the foreseeable future . Emerging economies, such as China and India, are investing heavily in various industries, including aerospace, automotive, electronics, and energy, along with rising disposable income and the growing adoption of advanced technologies are key factors driving the regions market.

    Silicon carbide is expected to remain the largest 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.