Global Metal Matrix Composite Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
29 Jul, 2021
The metal matrix composite market consists of sales metal matrix composites by entities (organizations, sole traders, and partnerships) that manufacture metal matrix composite materials. Metal matrix composites (MMCs) are a class of materials (metals, alloys, or intermetallic compounds) that have been reinforced with particles, whiskers, or continuous fibers. MMCs are excellent substitutes to conventional materials owing to their hardness, specific strength, and creep resistance.
Global Metal Matrix Composite Market Size And Drivers:
The global metal matrix composites market is expected to grow from $329.11 million in 2020 to $352.76 million in 2021 at a compound annual growth rate (CAGR) of 7.2%. The growth in the metal matrix composite market is mainly due to the increasing usage of MMC in the automotive & transportation and aerospace sector, growing focus on performance enhancement, rising concerns regarding environmental degradation and increasing levels of carbon emissions. The market is expected to reach $539.66 million in 2025 at a CAGR of 11.2%. The growth of the automotive industry is expected to fuel the growth of the metal matrix composite market in the coming years.
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Trends In The Global Metal Matrix Composite Market
The growing technological advancements are shaping the metal matrix composite market. Major institutes and companies are focusing on projects involving advanced composite materials for the automotive and aerospace industries. According to a study published in 2021, Al-based metal matrix composites (AMMCs) have found enormous applications in the aerospace, automobile, and other structural applications. Compared with the conventional processes such as casting and powder metallurgy, AMMCs processed by additive manufacturing show a significant difference between microstructure and properties.
Global Metal Matrix Composite Market Segments:
The global metal matrix composite market is further segmented based on matrix type, production technology, end use industry and geography.
By Matrix Type: Aluminum MMC, Magnesium MMC, Copper MMC, Super Alloys MMC, Others
By Production Technology: Liquid Metal Infiltration, Powder Metallurgy, Casting, Deposition Techniques
By End-Use Industry: Automotive And Transportation, Aerospace And Defense, Electrical And Electronics, Industrial, Others
By Geography: The global metal matrix composite market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the metal matrix composite market in 2020.
Read More On The Report For The Global Metal Matrix Composite Market At:https://www.thebusinessresearchcompany.com/report/metal-matrix-composite-global-market-report
Metal Matrix Composite Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides metal matrix composite market overviews, analyzes and forecasts market size and growth for the global metal matrix composite market, metal matrix composite market share, metal matrix composite market players, metal matrix composite market segments and geographies, metal matrix composite market’s leading competitors’ revenues, profiles and market shares. The metal matrix composite market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.