The global metamaterials market is expected to reach USD 1.35
billion by 2025, according to a new report by Grand View Research, Inc. The
market is expected to witness a CAGR of 17.8% over the forecast period, owing
to Increasing demand from various end-use industries, including consumer
electronics and medical, is driving the growth of the market. In addition,
growing application scope in the aerospace & defense industry is expected
to further fuel the demand growth during the forecast period.
Metamaterials are composite
materials specially engineered to have properties that are not found in nature
and thus is used in formulation processes across various end-use industries.
The key end-use industries, include aerospace & defense, medical,
automotive, consumer electronics, and energy & power.
In terms of revenue, the aerospace
& defense accounted for the largest share of the industry revenues in 2016
and is anticipated to continue its dominance over the forecast period,
projected to grow at a CAGR of 15.2%. The increasing need for advanced
telecommunications and safety devices in the aerospace and automotive
industries is expected to drive the industry growth.
Different types of metamaterials
are used in the different application segments depending upon the requirement
of the end use verticals. Metamaterials are also being used in the medical and
energy & power industries, owing to its superior properties such as the
ability to manipulate electromagnetic waves and provide better imaging in
medical equipment.
The demand for metamaterials is
expected to be primarily driven by the growth of the end-use verticals in the
Asia Pacific region. The growth of the consumer electronics and aerospace &
defense industries in the region is likely to have positive impacts on the
overall industry growth during the forecast period.
U.S. metamaterials market
revenue by end-use, 2014 - 2025 (USD Million)
Browse full research report on
Metamaterial Market
Further key findings from
the report suggest:
- The consumer
electronics segment is expected to be the highest growing segment in terms
of revenue, projected to grow at a CAGR of 21% from 2017 to 2025, mainly
on account of the product’s widening application scope in electronics
goods for performance enhancement, in place of semi-conductors.
- The aerospace
& defense segment emerged as the largest end-use segment in terms of
revenue in 2016, and is estimated to continue this dominance till 2025.
This can be attributed to the rapid growth of this end-use vertical in key
economies such as the U.S., Germany, the UK, China, India, and Russia.
- The antenna
segment accounted for the largest market share of the overall industry in
2016 and is anticipated to experience steady growth over the forecast
period, primarily owing to the increasing demand for advanced antennas in
aerospace, defense, and telecommunications applications.
- The industry
in Asia Pacific is projected to witness grow at a CAGR of 22% during the
forecast period, mainly owing to robust growth of key end-use industries
in the region, most notably the consumer electronics industry.
- Key players
of the industry, including Metamaterial Technologies Inc., Echodyne,
Kymeta Corporation, and Harris Corporation. Ltd., are mainly focused on
mergers & acquisitions and new product developments for gaining access
to higher market shares in the overall industry.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
No comments:
Post a Comment