Market
Summary
The
Global Metal Matrix Composites (MMCs) Market was valued at USD 467.54 million
in 2018 and is estimated to register a CAGR of around 7% during the forecast
period, 2019–2025. The growth of the global metal matrix composites (MMCs)
market is due to the demand for lightweight and durable parts in the automotive
industry. The high-temperature resistance and high modulus of MMCs over other metals
give it an upper hand in the aerospace & defense industry. Additionally,
the superior properties such as high electrical conductivity and wear
resistance are increasing the demand for MMCs in the electronics and
construction industries.
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Key
Players
The key
players operating in the global metal matrix composites (MMCs) market include
3M (US), Ferrotec (USA) Corporation (US), Sumitomo Electrical Industry(Japan),
Melrose Industries PLC (UK), Thermal Transfer composites LLC (US), Sandvik AB
(Sweden), CPS Technologies Corporation (US), Schmolz + Bickenbach Group
(Germany), Tisics Ltd (UK), Plansee SE
(Austria), Ametek Inc. (US), Ceramtec
(Germany), Materion Corporation (US), Alvant Ltd (UK), and Hitachi metal Ltd
(Japan).
Segmental
Analysis
The
global metal matrix
composites (MMCs) market has been segmented based on product
type, end-use industry, and region.
By
product type, the global market has been classified into aluminum, nickel,
refractory, copper, and others. Among these, the aluminum MMCs due to the high
tensile strength, low density, and high wear resistance are high in demand in
the aerospace and automotive industries. It is the largest segment in terms of
demand. The refractory MMCs is projected to be the fastest-growing segment
during the forecast period due to the increasing application in the
construction and thermal industries.
Based
on end-use industry, the global market has been segregated into aerospace &
defense, automotive, building & construction, marine, electronics,
healthcare, and others. The global MMCs market is dominated by the aerospace
& defense segment, accounting for 33% of the global market share. Moreover,
due to high investments in the aerospace sector and high demand for superior
composite materials are factors projected to boost the growth of the segment
during the forecast period. It is further followed by the automotive sector due
to the increasing demand for automobiles across the globe.
Regional
Analysis
Asia-Pacific,
Latin America, North America, Europe, and the Middle East & Africa are the
regions analyzed under the scope of the market.
North
America was the leading market in 2018 and is expected to register the highest
CAGR during the forecast period. Asia-Pacific held the second-largest market
share in 2018, which is followed by Europe. The Latin American and the Middle
East & African markets are expected to witness slow growth during the
forecast period.
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