DUBLIN, May 12, 2022--(BUSINESS WIRE)--The "Metal Matrix Composite Global Market Opportunities And Strategies To 2030, By Matrix Type, Production Technology, End-Use Industry" report has been added to ResearchAndMarkets.com's offering.
The global metal matrix composite market reached a value of nearly $455.34 million in 2020, having increased at a compound annual growth rate (CAGR) of 6.34% since 2015. The market is expected to grow from $455.34 million in 2020 to $649.33 million in 2025 at a rate of 7.38%. The market is then expected to grow at a CAGR of 6.87% from 2025 and reach $905.15 million in 2030.
This report describes and explains the global metal matrix composite market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
Growth factors in the historic period include strong economic growth in emerging markets, rapid growth in the automotive industry, increasing demand for lightweight materials in the aerospace and defense industry, and increase in government support. The market was restrained by restrictions in free trade, complicated manufacturing process, and rising costs of metal products.
Going forward increased demand across various applications, increased demand for powder metallurgy, and rising demand for aluminum components will drive the growth in the metal matrix composite market. Factors that could hinder the growth of the market in the future include coronavirus pandemic, high cost of powder metallurgy, and global recession.
The metal matrix composite market is segmented by matrix type into aluminum MMC, magnesium MMC, copper MMC, super alloys MMC, and others. The aluminum MMC market was the largest segment of the metal matrix composite market, accounting for 44.3% of the total in 2020. Going forward, the aluminum MMC market segment is expected to be the fastest growing segment in the metal matrix composite market at a CAGR of 7.3% during 2020-2025.
The metal matrix composite market is segmented by production technology into liquid metal infiltration, powder metallurgy, casting, and deposition techniques. The powder metallurgy market was the largest segment of the metal matrix composite market segmented by production technology, accounting for 44.8% of the total in 2020. Going forward, the powder metallurgy metal matrix composite by production technology market segment is growing at a CAGR of 7.4% during 2020-2025.
The metal matrix composite market is segmented by application into automotive and transportation, aerospace and defense, electrical and electronics, industrial, and others. The automotive and transportation market was the largest segment of the metal matrix composite market segmented by application, accounting for 40.4% of the total in 2020. Going forward, the automotive and transportation market segment is expected to be the fastest growing segment in the metal matrix composite market segmented by application, at a CAGR of 7.2% during 2020-2025.
North America was the largest region in the metal matrix composite market, accounting for 36.5% of the total in 2020. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the metal matrix composite market will be Asia-Pacific where growth will be at CAGRs of 8.5% during 2020-2025. This will be followed by South America and Western Europe, where the markets are expected to register CAGRs of 7.9% and 7.8% respectively during 2020-2025.
The global metal matrix composite market is relatively fragmented, with a large number of small players. The top ten competitors in the market made up to 30.75% of the total market in 2020. Major players in the market include Materion Corporation, CPS Technologies Corporation, CeramTec, Ferrotec Holdings Corporation, and DWA Aluminum Composites.
The top growth potential in the metal matrix composite market by matrix type will arise in aluminum MMC market, which will gain $85.6 million of global annual sales by 2025. The top growth potential in metal matrix composite market by production technology will arise in powder metallurgy market, which will gain $87.0 million of global annual sales by 2025. The top growth potential in metal matrix composite market by end-use industries will arise in the automotive and transportation market at $76.4 million.
Market-trend-based strategies for the metal matrix composite include companies in the metal matrix composite market should invest in technological advancements to meet the demand from customers and gain a competitive advantage over other players operating in the industry, should consider investing in aircraft manufacturing due to MMC's low costs and versatility, manufacturers should consider targeting applications in the automobile industry because of MMC's properties of being lightweight and resistant to corrosion, consider developing MMC's with self-healing capabilities, and targeting the electrical devices industry owing to its demand for high heat resistance.
Key Mergers And Acquisitions In The Metal Matrix Composite Market
CPPIB and BC Acquired CeramTec
Goldman Sachs Group Inc. Acquired CPS Technologies Co.
Alvant Merges With 3MTo Form Partnership
TVS Group Acquired Minority Stake In Italian Firm
GKN Powder Metallurgy Acquired Forecast 3D
ITT Inc. Acquired Matrix Composites, Inc.
1. Metal Matrix Composite Market Executive Summary
7. Metal Matrix Composite Market Characteristics
8. Metal Matrix Composite Market Trends And Strategies
8.2. Rising Demand From Aircraft Manufacturers
8.3. Rapid Adoption In The Automobile Industry
8.4. Use Of Self-Healing Metal Matrix Composites
8.5. Metal Matrix Composites Used For Thermal Management
9. COVID-19 Impact On The Metal Matrix Composite Market
10. Global Metal Matrix Composite Market Size And Growth
10.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
10.2.1. Drivers Of The Market 2015 - 2020
10.2.2. Restraints On The Market 2015 - 2020
10.3. Forecast Market Growth, 2020 - 2025, 2030F Value ($ Million)
10.3.1. Drivers Of The Market 2020 - 2025
10.3.2. Restraints On The Market 2020 - 2025
11. Global Metal Matrix Composite Market Segmentation
11.1. Global Metal Matrix Composite Market, Segmentation By Matrix Type, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.2. Global Metal Matrix Composite Market, Segmentation By Production Technology, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.3. Global Metal Matrix Composite Market, Segmentation By End-Use Industry, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12. Metal Matrix Composite Market, Regional And Country Analysis
12.1. Global Metal Matrix Composite Market, By Region, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12.2. Global Metal Matrix Composite Market, By Country, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/7jqjmq
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