What Fueled Metal Matrix Composite Market?
The metal matrix composite market has seen considerable growth due to a variety of factors.
• In recent times, the metal matrix composite market has experienced robust growth. The market value is predicted to increase from $0.59 billion in 2024 to $0.63 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%.
The surge during the historic period is ascribed to economic expansion in burgeoning markets, the swift development of the automotive industry, a rising demand for lightweight materials in aerospace and defense sectors, coupled with heightened government support.
What Does the Future Hold for the Metal Matrix Composite Market?
The metal matrix composite market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of metal matrix composites is projected to witness robust expansion in the forthcoming years, ballooning to an impressive $0.82 billion in 2029 with a 7.1% compound annual growth rate (CAGR).
Several factors are likely to fuel this growth in the forecast period, including amplified demand across multiple applications, a surge in demand for powder metallurgy, and a heightened preference for aluminum components. During this period, identifiable trends will include investments in technological advancements to cater to customer demands and gain an edge over competitors, capital inflow for aircraft manufacturing due to the low costs and versatility of MMC’s, advancements in MMC’s encompassing self-healing abilities, and a focus on the electrical devices sector sparked by its need for high heat resistance.
What Are the Critical Driver Fuelling the Metal Matrix Composite Market's Growth?
The expansion of the automotive sector is anticipated to contribute significantly to the augmentation of the metal matrix composite market in the foreseeable future. The automotive sector comprises a varied array of companies and organizations that are dedicated to the design, development, manufacturing, promotion, and selling of motor vehicles. Metal matrix composites are utilized to decrease the weight of the vehicle and improve its performance. To illustrate, a report from the European Automobile Manufacturers' Association (ACEA) in May 2023 stated that in 2022, the global production of motor vehicles surged by 5.7% from the previous year, reaching a recorded production of 85.4 million. Additionally, the International Organization of Motor Vehicle Manufacturers, a trade association representing 36 countries, reported an increase in the overall production of cars and commercial vehicles, from 80,145,988 in 2021 to 85,016,728 in 2022. Consequently, the burgeoning automotive sector is a significant catalyst for the thriving metal matrix composite market.
What Are The Primary Segments In The Global Metal Matrix Composite Market?
The metal matrix composite market covered in this report is segmented –
1) By Matrix Type: Aluminum MMC, Magnesium MMC, Copper MMC, Super Alloys MMC, Other Matrix Types
2) By Production Technology: Liquid Metal Infiltration, Powder Metallurgy, Casting, Deposition Techniques
3) By End-Use Industry: Automotive And Transportation, Aerospace And Defense, Electrical And Electronics, Industrial, Other End-User Industries
Subsegments:
1) By Aluminum MMC: Aluminum-Silicon Composites, Aluminum-Copper Composites, Aluminum-Zinc Composites
2) By Magnesium MMC: Magnesium-Aluminum Composites, Magnesium-Lithium Composites, Magnesium-Zinc Composites
3) By Copper MMC: Copper-Aluminum Composites, Copper-Graphite Composites, Copper-Ceramic Composites
4) By Super Alloys MMC: Nickel-Based Super Alloys, Cobalt-Based Super Alloys, Iron-Based Super Alloys
5) By Other Matrix Types: Titanium MMC, Zirconium MMC, Other Metal Composites
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Which Key Trends Are Driving Changes In The Metal Matrix Composite Market?
Technological progress is driving the growth of the metal matrix composite market, with leading institutions and corporations investing in projects that employ cutting-edge composite materials for industrial manufacturing. For example, in May 2023, Elementum 3D, an American enterprise specializing in the manufacture of metal additive materials, introduced A5083-RAM5, an aluminum alloy designed for laser powder bed fusion (LPBF) additive manufacturing, incorporating Elementum 3D's proprietary reactive additive manufacturing (RAM) technology. This technological breakthrough provides outstanding printability, impressive strength, and uniform properties, eliminating the need for heat treatment. Providing up to 2.9 times the yield strength of conventional 5083 alloys, it is well suited for high-demand applications in sectors such as aerospace, marine, and the energy industry. Moreover, its components enable a secure supply chain and reduce both the time and cost of post-processing.
Who Are the Key Players in the Metal Matrix Composite Market?
Major companies operating in the metal matrix composite market include:
• Materion Corporation
• CPS Technologies Corporation
• CeramTec
• Ferrotec Holdings Corporation
• DWA Aluminum Composites USA
• GKN Sinter Metals
• 3M
• Plansee SE
• Sandvik
• Thermal Transfer Composites LLC
• Sumitomo Electric Industries
• Ametek
• Denka China Baowu Group
• NANJING YUNHAI SPECIAL METALS Co. Ltd
• QingHai Salt Lake Industry Co. Ltd
• Uyemura & Co. Ltd
• Kennametal Inc.
• DAT Alloytech Company Limited
• Deutsche Edelstahlwerke GmbH
• 3A Composites
• TISIC Metal Composites
• Tenmat
• ArcelorMittal
• ThyssenKrupp
• Tata Steel
• Gibraltar Industries
• Mi-Tech Tungsten Metals LLC
• Metal Matrix Cast Composites LLC
• Santier Inc.
• Adma Products Inc.
• MMC Group
• AAT Composites
What Is The Most Dominant Region In The Metal Matrix Composite Market?
North America was the largest region in the metal matrix composite market in 2024. Asia-Pacific was expected to be the fastest region in the forecast period. The regions covered in the metal matrix composite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
