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Metal Matrix Composite Market Size Forecast: $0.79 Billion by 2029 | Global Outlook
Metal Matrix Composite
What Is the Projected Market Size Valuation of the Metal Matrix Composite Market by 2025?
The market size of metal matrix composites has seen a consistent rise over the past few years. It is predicted that it will increase from $0.59 billion in 2024 to $0.62 billion in 2025, fueled by a compound annual growth rate (CAGR) of 4.9%. The historic growth can be traced back to solid economic advancements in emerging markets, expedited growth in the automotive sector, a heightened demand for lightweight materials in the aerospace and defense industry, and augmented governmental backing.
What Is the Estimated Market Growth Value for the Metal Matrix Composite Industry in 2029?
In the ensuing few years, the market size of metal matrix composites is anticipated to experience substantial growth, projecting a value of $0.79 billion by 2029, featuring a 6.4% compound annual growth rate (CAGR). The growth during the forecast period may be ascribed to various factors such as an increase in demand across diverse applications, amplified need for powder metallurgy, and a surge in demand for aluminium components. Noteworthy trends for the forecast period encompass investment in technology enhancements to cater to customer demand and outshine competitors in the market, investment in aircraft manufacturing owing to the low costs and versatility of MMCs, the development of MMCs with self-repairing abilities, and focusing on the electrical devices industry due to its requirement for high heat resistance.
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What Are the Growth Drivers and Opportunities in the Metal Matrix Composite Market?
The escalation in the automotive industry is anticipated to stimulate the expansion of the metal matrix composite market in the forthcoming years. Comprised of a varied consortium of businesses and organizations, the automotive industry deals with the design, development, production, marketing, and selling of cars. Metal matrix composites are employed to reduce the weight of the vehicle and boost the efficiency of the cars. A case in point is a report by the European Automobile Manufacturers' Association (ACEA) in May 2023, which revealed an increase of 5.7% over 2021, with production of 85.4 million motor vehicles globally in 2022. Furthermore, data from the International Organization of Motor Vehicle Manufacturers, a 36-nation trade consortium, highlighted a leap from 80,145,988 total production of cars and commercial vehicles in 2021 to 85,016,728 in 2022. Hence, the extension of the automotive industry is driving the augmentation of the metal matrix composite market.
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What Are the Primary Segments Covered in the Global Metal Matrix Composite Market Report?
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
What Are the Top Growth Trends in the Metal Matrix Composite Market?
Technological progression is driving growth in the metal matrix composite market. Numerous significant institutes and corporations are concentrating on projects that incorporate advanced composite materials intended for manufacturing industries. For instance, in May 2023, US-based Elementum 3D, a metal additive materials manufacturer, introduced A5083-RAM5. This is an aluminum alloy particularly designed for laser powder bed fusion (LPBF) additive manufacturing, incorporating Elementum 3D's unique reactive additive manufacturing (RAM) technology. This novel innovation possesses exceptional printability, robust strength, and consistent qualities without the need for heat processing. Providing up to 2.9 times greater yield strength compared to standard 5083 alloys, it is ideally suited for rigorous applications in the fields of aerospace, marine, and energy. Furthermore, its composition contributes to a steady supply chain, reducing post-processing durations and expenses.
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Which Companies Are Shaping the Future of 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
Which Region Holds the Largest Market Share in the Metal Matrix Composite Industry?
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.
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