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CHEMICALS AND ADVANCED MATERIALS

Metal Matrix Composites Market Segmentation By Product Type (Aluminum MMC, Superalloy MMC, Nickel MMC, Copper MMC, and Others); By End-Use Industry (Transportation, Aerospace, Thermal/Electronics Management, Marine, and Others) - Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Metal Matrix Composites Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • February 25, 2020 – China, the biggest car market and Wuhan, known as “motor city” for being home to auto plants and also the city at the center of the outbreak of COVID 19, witnessed a 92% fall in car sales in the first half of February 2020 as reported by China Passenger Car Association (CPCA).

  • According to IBEF (India Brand Equity Foundation): GST on electric vehicles is reduced from 12% rate to 5% as of March 2020, which shows the Indian government’s policy support towards the automotive sector.

  • In January 2018, Materion Corporation has been assigned a contract by UTC Aerospace Systems for imaging sensor technology for the US military. This MS-177 Sensor is designed to gather high-resolution images of large areas and will make use of Materion’s “AlBeMet”, an aluminum beryllium composite.

Metal Matrix Composites Overview

A metal matrix composite (MMC) is a material made up of two or more composite parts, where one should be necessarily metal and the other material could be a different metal or non-metal such as an organic compound or ceramic. They are created by diffusing a strengthening material into a metal matrix. The application of metal matrix composites is increasing in diverse end-use industry domains such as aerospace, ground transportation, thermal management, and industrial sector.

Market Size and Forecast

The metal matrix composites market is anticipated to record a CAGR of around 8% over the forecast period, i.e., 2020-2028. The market is segmented by product type, end-use industry, and region. Among product segmentation, the aluminum metal matrix composites segment is anticipated to hold the largest market share in revenue terms during the forecast period as they are the most potential material for structural and functional applications with a reduced price, thereby utilized in aerospace, defense, automotive & aviation, and thermal management fields.

metal matrix composites Graph

Growth Drivers

Large scale use of metal matrix composites in the production of vehicle components.

These composites are substantially being used for manufacturing automobile parts such as disc brakes and turbines. They help in order to decrease the weight of commercial vehicles, passenger cars, and enhance fuel efficiency.

Beneficial properties

High malleability, ductility, and tensile strength provided by metal composites make them desirable in diverse application segments including automotive, electronics, defense, and aerospace industries.

High-performance composites material are preferred for mounting of exterior chassis or framework in the aerospace and marine industry.CLICK TO DOWNLOAD SAMPLE REPORT

Properties such as stiffness in nature, low thermal expansion coefficient, lightweight, and dimensional stability led to the rising demand for metal matrix composites in communication satellites.

For shipbuilding, metal matrix composites of high buoyancy and light in weight are preferred.

Restraints

Soaring manufacturing costs along with narrow technological competency for metal matrix composites handling are however anticipated to pose a challenge for the growth of the market during the forecast period.

Market Segmentation

Our in-depth analysis of the metal matrix composites market includes the following segments:

By Product Type

  • Aluminum MMC
  • Superalloy MMC
  • Nickel MMC
  • Copper MMC
  • Others

By End-User

  • Transportation
  • Aerospace
  • Thermal/Electronics Management
  • Marine
  • Others

By Region

Geographically, the metal matrix composites market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America, driven by the U.S. and Canada metal matrix composites market is foreseen to hold the largest market share as a result of augmentation in the telecommunication and automobile industry.

The International Trade Administration (ITA), U.S. Department of Commerce: The United States is the world’s largest market for General Aviation aircraft and a global leader in Large Civil Aircraft production.

The metal matrix composites market in Europe is led by the UK, Germany, and France which is predicted to observe stable growth. Growing household expenditure on the automobile sector and rising medical expenses may propel the regional growth.

The Asia Pacific region driven by Japan, India, and China is projected to play a pivotal role in metal matrix composites market growth. India has a high success rate of launching space satellites & crafts with low budget technology that has grabbed world attention. Further, the rising aging population, growing health care expenditure, and surging economic standards in developing economies of China, Japan, and India may drive the regional growth during the forecast period.

According to an article by WHO published on Feb 4, 2019, demand for electric vehicles is witnessing an upsurge in China. In 2018, nearly 1.3 million electric vehicles and plug-in hybrids were sold,  which is just 4% of all 28.1 million automobiles sold in China, 2018 at the time when the U.S. was under 2% and Europe was just over 3%.

The metal matrix composites market is further classified based on region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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