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Metal Matrix Composites Market

Metal Matrix Composites Market

Use of MMCs in Automotive Industry, Aerospace & Defense Industry to Propel the Metal Matrix Composites Market Growth during 2021-2031

Metal Matrix Composites Market
FACT6859MR

Market Snapshot

Newly released data from Fact.MR’s market analysis shows that the global market for metal matrix composites reached around US$ 460 Mn in 2020, and is slated to accelerate at a CAGR of 5% to top US$ 630 Mn by 2031. Demand for powder metallurgy technology is set to increase at a CAGR of 4% across the assessment period of 2021 to 2031.

Key Points Covered in Metal Matrix Composites Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Copper MMC Market
  • Brand Share and Market Share Analysis
  • Magnesium MMC Market
  • Key Product Innovations and Regulatory Climate
  • Aluminum MMC Market
  • COVID-19 Impact on the Metal Matrix Composite Sales and How to Navigate
  • Super Alloys MMC Market
  • Recommendation on Key Winning Strategies

Know More Details About the Report

Consumption Analysis of Metal Matrix Composites from 2016-2020 Vs Future Market Outlook for 2021 to 2031

As per Fact.MR – a market research and competitive intelligence provider, the global market for metal matrix composites thrived at a CAGR of over 3% from 2016 to 2020 to reach US$ 460 Mn.

Rising concerns regarding environmental degradation and increasing levels of carbon emissions and pollution have created the need for the replacement of conventional dense materials with high-performance and lightweight materials in automotive, aerospace, and other applications.

Thus, growing focus on performance enhancement, in terms of fuel efficiency and safety, is expected to be a major factor augmenting product demand over the forecast period. These composites offer excellent strength and stiffness, higher operating temperatures, and enhanced wear resistance, owing to which, they are widely used across various end-use industries.

In addition, increased spending on R&D and extensive support offered by various governments, in terms of monitory funds and joint ventures, are anticipated to assist the manufacturers of metal matrix composite in developing newer technology and superior products. This is estimated to have a positive impact on market growth.

Considering these factors, the global metal matrix composites market is projected to witness growth over the coming years, registering a CAGR of 5% to top US$ 630 Mn by 2031.

How is Rising Industrialization & Urbanization Stimulating Market Growth?

Use of metal matrix composites in automotive industry, aerospace & defense industry, other industrial use of metal matrix composite, and application of metal matrix composites in electrical & electronics have been primarily responsible for driving the market.

This is mainly due to metal matrix composites being highly preferred by workers in these fields owing to their advantageous properties such as high strength, durability & resistance to corrosion, lightweight character, and many others.

From all the fields mentioned here, various advantages of metal matrix composites in fast-evolving automotive and electronics/thermal management industries are anticipated to make the market grow at a rapid pace in the near future.

This is projected to happen especially in Asia Pacific, thus driving demand for metal matrix composite materials. As urbanization increases, more and more people come to live in cities, which further propels need for using metal matrix composites to develop infrastructure.

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What are the Restraints being Encountered by Metal Matrix Composite Providers?

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.

Variability of properties of Al MMCs is a challenge for designers to develop composite components with high precision. Currently, there are very few design aids available, such as property databases, performance standards, and standard test methods, which reduce the adoption rate of metal matrix composites in emerging applications.

There are metal matrix composite production techniques that are used on a large scale for producing liquid metal infiltration metal matrix composites and casting metal matrix composites, but this process requires high technical expertise to get the products with the required specifications.

Many regions might depict a lack of trained professionals and a shortage of equipment required to manage metal matrix composite manufacturing technology activities. These are significant factors restraining growth of the global metal matrix composites market.

Which Region is Projected to Offer Lucrative Opportunity for Metal Matrix Composite Suppliers?

North America held more than 50% share of the metal matrix composite market and the trend is expected to remain the same during the forecast period. This growth is due to the presence of established manufacturers, demand for powdered MMC products, and increased consumption of metal matrix composites in the aerospace and transportation industries in the North American region.

North America may experience significant growth owing to the expansion in the automobile and telecommunication industry. Various companies are investing in these sectors to expand their business, and this is anticipated to drive industry growth.

Some more regional markets that are likely to perform well over the coming years are the Mexico magnesium MMC market, Germany aluminum metal matrix composites market, and the United Kingdom super alloys metal matrix composites market.

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Country-wise Analysis

What is the Metal Matrix Composites Demand Outlook for the U.S.?

The United States metal matrix composites market was valued at over US$ 125 Mn in 2020. The U.S. is the growth engine of the market owing to it having the world’s largest defense spending, significant investments towards research & development, and presence of a large number of metal matrix composite suppliers.

As per the International Trade Administration (ITA), U.S. Department of Commerce, The U.S. is the world’s largest market for General Aviation aircraft and a global leader in Large Civil Aircraft production. The presence of major automobile and aircraft manufacturers in the U.S. are responsible for the high consumption of metal matrix composites in the country.

What are the Growth Opportunities for Metal Matrix Composite Providers across China?

By 2031, China is expected to have a market of roughly US$ 135 Mn. China is expected to be the world’s largest single country market for civil aircraft sales, over the next 20 years. Under the plan ‘Made in China 2025’, it is expected that China is likely to supply over 10% of homemade commercial aircraft to the domestic market by 2025.

China has the world’s largest electronics production base. Electronic products, such as smartphones, TVs, wires, cables, portable computing devices, gaming systems and other personal electronic devices recorded the highest growth in the electronics segment. The country serves not only domestic demand for electronics but also exports electronic output to other countries.

In China, with increase in disposable income of the middle-class population and rising demand for electronic products in countries importing electronic products from China, production of electronics is projected to grow. With a growing electronics and construction industry, demand for metal matrix composites is expected to increase.

Category-wise Insights

Why is Powder Metallurgy Technology Gaining Immense Popularity?

Powder metallurgy is the most widely used technology to manufacture metal matrix composites. This high demand is attributed to increased adoption of hot pressing, ball mill mixing, extrusion, and vacuum pressing technology to manufacture metal matrix composites.

The powder metallurgy technology is widely used for metal matrix composite production as it gives products superior properties and a modest cost, and the process is commercially available.

Additionally, its compatibility with various materials, rising sales of magnesium metal matrix composites, and increasing demand for powder metallurgy produced MMCs from industries such as aerospace and ground transportations are expected to drive market progress.

Why Does the Automotive & Transportation Sector Hold the Largest Market Share for Metal Matrix Composites?

Metal matrix composites for automotive applications are based on aluminum and its alloys. Generally, metal matrix composites are used in the production of automotive engines is to lower the mass of reciprocating parts and hence generate less noise and vibration.

Compared to other light metals, such as titanium and magnesium, lightweight and low cost are the main reasons for the large use of aluminum and its alloys in the automotive industry. The piston crown, where the increased hot strength of the metal matrix composite enables a lighter element to be used, is the most widely attacked feature of the engine.

Automotive & transportation is the dominating industry, this is due to the growing penetration of MMCs in automotive brake pads applications, brake drums, rail brake discs, and others, as they offer superior properties. The increased demand for automotive and passenger vehicles across the globe is expected to drive the demand for high-performance metal matrix composites in the transportation sector.

Similarly, increased applications in railway coaches and locomotives help to reduce maintenance costs and power consumption. This is expected to boost the global MMC market in this segment.

How Has COVID-19 Impacted Demand for Metal Matrix Composites?

COVID -19 has disastrously affected the aerospace & automotive sectors across the globe. The global aerospace industry has witnessed the most adverse and immediate consequences of the pandemic. The airline sector has faced the worst consequences due to lockdown across international and domestic borders. This has resulted in reduced passenger traffic and delayed the demand for new aircraft drastically.

The novel coronavirus pandemic has created ripples across the global aerospace industry, affecting the global supply chains. This has resulted in delays or non-arrival of raw materials, disrupted financial flows, and absenteeism among production line workers.

These factors have affected the world’s biggest commercial aircraft providers, Boeing and Airbus, and their constellation of suppliers. However, as respective governing authorities begin to lift these enforced lockdowns, the global market is expected to recover accordingly.

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Competitive Landscape

Foremost strategies for expanding the metal matrix composites industry are product launches, mergers & acquisitions, and contracts & collaborations. These strategies would deliver effective goods and high-performance goods, supporting market laws, and lastly, better client satisfaction.

  • In 2019, GKN Powder Metallurgy, a division of GKN plc, opened a new customer center in Bonn, Germany, which has enabled the company to cater to its customers and partners more efficiently.

Metal Matrix Composites Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 460 Million

Market forecast value in 2031

USD 630 Million

Growth Rate

CAGR of 5% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Product
  • Product Technology
  • Application
  • Region

Key Companies Profiled

  • Materion Corporation
  • GKN plc
  • 3M
  • ADMA Products, Inc.
  • TISICS Ltd.
  • Thermal Transfer Composites LLC
  • DWA Aluminum Composites USA, Inc.
  • CPS Technologies Corporation
  • Deutsche Edelstahlwerke GmbH
  • Plansee Group
  • Sandvik AB
  • Mi-Tech Tungsten Metals, LLC
  • DAT Alloytech Company Limited
  • AMETEK Specialty Metal Products
  • CeramTec
  • Santier, Inc.

Pricing

Available upon Request

Key Segments in Metal Matrix Composites Industry Research

  • Product

    • Aluminum Metal Matrix Composites
    • Copper Metal Matrix Composites
    • Magnesium Metal Matrix Composites
    • Super Alloys Metal Matrix Composites
    • Refractory Metal Matrix Composites
  • Production Technology

    • Liquid Metal Infiltration
    • Powder Metallurgy
    • Casting
    • Deposition techniques
  • Application

    • Metal Matrix Composites for Automotive & Transportation
    • Metal Matrix Composites for Aerospace & Defense
    • Metal Matrix Composites for Electrical & Electronics
    • Metal Matrix Composites for Thermal Management

Metal Matrix Composites Market: Report Scope

A recent study by Fact.MR on the metal matrix composites market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates recent market developments, strategic market growth analysis, market size, category market growths, product approvals, product launches, geographical expansions, and technological innovations associated with metal matrix composites market!

The study also provides the dynamics responsible for influencing the future status of the metal matrix composites market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing metal matrix composites, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of metal matrix composites across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of metal matrix composites during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative markets for metal matrix composites?
  • Which factors will impact the growth of the market?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the metal matrix composites market?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Market estimates at global and regional levels for metal matrix composites are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global metal matrix composites market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the metal matrix composites market during the forecast period.

Country-specific valuation on demand for metal matrix composites has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value and volume for emerging countries has also been included in the report.

Competition Analysis

The report sheds light on leading manufacturers of metal matrix composites, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering metal matrix composites has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the metal matrix composites market.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of metal matrix composites market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

The global metal matrix composites market is currently worth more than US$ 460 Mn.

From 2016-2020, sales of metal matrix composites registered a CAGR of 3%.

Increasing demand for lightweight, comfortable, and high-strength materials around the world is largely expected to shape market expansion.

North America, with a 50% global market share, will largely contribute to the growth of metal matrix composites revenue.

The U.S., China, U.K., Germany, and France are expected to drive most of the demand for metal matrix composites.

Demand for metal matrix composites is anticipated to rise at around 3% CAGR in Europe across 2021-2031.

Powder metallurgy technology continues to be the highest revenue-generating segment of metal matrix composites, accounting for 40% of global revenue.

Copper metal matrix composite sales in Canada are forecasted to reach over US$ 130 Mn by 2031.

Key players operating in this market are Materion Corporation, GKN plc, 3M, ADMA Products, Inc., and TISICS Ltd.

The global market is expected to reach a value of above US$ 630 Mn by the end of 2031, with sales revenue expected to register a CAGR of around 5%.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.