A recent report published by Infinium Global Research on metal matrix composites market provides in-depth analysis of segments and sub-segments in the global as well as regional metal matrix composites market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional metal matrix composites market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global metal matrix composites market. According to the report, the global metal matrix composites market is projected to grow at a CAGR of 6.46% over the forecast period of 2019-2025.
The composition materials or composite materials have found their application in numerous end-use industries including automobiles, aerospace, electronics, and defense. The composite materials exhibit excellent physical and chemical properties such as stiffness, strength, and lightweight. The metal composite materials display better mechanical properties than their metal counterparts. The growing demand from various end-use industries for metal matrix composites due to their superior physical properties is driving the market. The metal matrix composites market is highly competitive in terms of pricing and the operating rate for manufacturers. The key players in the market including Materion Corporation, Sandvik AB, Plansee SE, GKN PLC, 3M Company, CPS Technologies Corporation and others are focusing on vertical integration and product development.
The growing demand for lightweight components for the automotive industry is the major driving factor for the growth of the metal matrix composites market. The automakers are searching for a lightweight and strong material for components that would reduce the overall weight of the vehicle. This helps in making the vehicles more fuel-efficient and lower emission levels. Furthermore, the rising need for high-performance material for aerospace and marine industry is supporting the demand for metal matrix composites. The aerospace and marine industries require components with superior physical properties. This, in turn, increases the demand for metal matrix composites from aerospace and marine industries. Additionally, the increase in the disposable income of the population is expected to boost the metal matrix composites market further. However, the high set up costs of the production systems are the major restraining factor for the growth of the metal matrix composites market. Nevertheless, the growing adoption of metal matrix composites in military-specific vehicles and aircraft is expected to offer lucrative opportunities for the key players in the metal matrix composites market.
In terms of region, North America held the highest market share, dominating the global metal matrix composites market. The dominance of the North America market attributed to the high demand from the automotive and aerospace sector for lightweight and strong materials. Moreover, the presence of the well-established MMC in the region is anticipated to propel the growth of the North American metal matrix composites market. While the Asia-Pacific region registered the highest growth rate for metal matrix composites market owing to the rapidly expanding automotive and electronics industries.
The report on global metal matrix composites market covers segments such as product type and end-use. On the basis of product type, the sub-markets include aluminum MMC, magnesium MMC, nickel MMC, refractory MMC, and other product types. On the basis of end-use, the sub-markets include ground transportation, electronics/thermal management, aerospace, industrial, and other end-uses.
The report provides profiles of the companies in the market such as Materion Corporation, Sandvik AB, Plansee SE, GKN PLC, 3M Company, CPS Technologies Corporation, Sumitomo Electric Industries, Ltd., Deutsche Edelstahlwerke GmbH, Hitachi Metals, Ltd., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of metal matrix composites market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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