Dublin, May 07, 2024 (GLOBE NEWSWIRE) -- The "Metal Matrix Composites - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Metal Matrix Composites Market to Reach $941.8 Million by 2030
The global market for Metal Matrix Composites estimated at US$733.1 Million in the year 2023, is projected to reach a revised size of US$941.8 Million by 2030, growing at a CAGR of 3.6% over the analysis period 2023-2030.
The improving economy is fostering general market optimism, with steady growth in global Purchasing Managers' Index (PMI) benefiting the industrial sector. Metal matrix composites (MMCs) are gaining traction as the future of metals, with a strong presence in various industries. In 2024, key competitors in the MMC market reflect a competitive landscape, with players categorized as strong/active/niche/trivial.
Aluminum Matrix Composites, one of the segments analyzed in the report, is expected to record a 3.1% CAGR and reach US$365.8 Million by the end of the analysis period. Growth in the Refractory Metal Matrix Composites segment is estimated at 4.5% CAGR for the next 7-year period.
The ground transportation industry, particularly the automotive sector, is a significant revenue contributor to MMCs, especially aluminum metal matrix composites. The use of nanotechnology techniques for advanced engineering materials enhances product innovation. With increasing automotive production, there are ample opportunities for market growth, especially in railways and the electronics sector. The electronics industry, in particular, offers robust growth opportunities for MMCs, especially in electronics packaging and thermal management applications. Overall, the market outlook is optimistic, driven by favorable economic conditions and expanding opportunities across various end-use sectors.
The U.S. Market is Estimated at $197.9 Million, While China is Forecast to Grow at 6.2% CAGR
The Metal Matrix Composites market in the U.S. is estimated at US$197.9 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$193.3 Million by the year 2030 trailing a CAGR of 6.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 4.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$125.5 Million by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 189 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $733.1 Million |
| Forecasted Market Value (USD) by 2030 | $941.8 Million |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Recent Market Activity
- Composites - A Prelude
- Metal Matrix Composites - A Review
- Improving Economy Buoys General Market Optimism
- Steady Acceleration in Global PMI Benefits Market Growth in Industrial Sector
- Market Outlook
- Competitive Landscape - A Brief Overview
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Metal Matrix Composites - Global Key Competitors Percentage Market Share in 2024 (E)
MARKET TRENDS & DRIVERS
- Matrix Composites - the Future of Metals
- Ground Transportation Industry - The Largest Revenue Contributor
- Automotive Industry - A Major End-Use Market for Metal Matrix Composite
- Aluminum Metal Matrix - The Most Preferred in Automotive Industry
- Nanotechnology Technique Used for Advanced Engineering Materials
- Increase in Automotive Production Augurs Well for the Market
- Opportunity Indicators
- Railways - Market Laden with Tremendous Potential
- Electronics Sector Offers Robust Growth Opportunities for MMCs
- Opportunities Aplenty in Electronics Packaging & Thermal Management Applications
- Opportunity Indicators
- Healthy Outlook for the World Commercial Aviation Industry Drives Demand for Metal Matrix Composites
- Rise in Aircraft Fleet Drive Long-Term Opportunities
- Defense Aerospace Presents Steady Growth Prospects for Metal Matrix Composites
- Developments and Innovations Underway
- A Look into Other Defense Related Applications for MMCs
- Review of Defense Budgets & Implications on Adoption of MMCs in Production of Military/Defense Related Products
- Nuclear Power Continues to Find Attention - To Boost Market Prospects
- Opportunity Indicators
- Expanding Applications to Drive Future Growth
- Metal Composite Materials Find Increased Usage in Buildings
- Sports and Biomedical Sectors
- Power Transmission Segment Offers Plenty of Opportunities
- MMC Issues & Challenges
- The Way Forward
- Hybrid MMCs for Better Mechanical Properties
- Nano Particles-Reinforced MMCs - A Most Recent Advancement
- Potential Applications of Nano Particles-reinforced MMCs
- New Stir-Casting Method for Economically Viable Production of MMCs in Large Quantities
- Ceramic-Matrix-Composites Gain Popularity for Aircraft Engines but Issues Persist
FOCUS ON SELECT PLAYERS(Total 34 Featured)
- 3A Composites
- 3M Company
- ADMA Products, Inc.
- AMETEK Specialty Metal Products
- Ceradyne, Inc.
- CPS Technologies Corporation
- Deutsche Edelstahlwerke GmbH
- DWA Aluminum Composites USA, Inc.
- GKN plc
- Hitachi Metals, Ltd.
- Materion Corp.
- Mi-Tech Tungsten Metals, Inc.
- SANTIER, Inc.
- Sumitomo Electric Industries, Ltd.
- Thermal Transfer Composites LLC
- TISICS Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/29h347
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
