The
global metal matrix composite market is expected to reach
USD 433.3 million by 2022, according to a new report by Grand View Research, Inc.
Increasing need for high-performance composite metals from automotive,
aerospace, and marine industries is expected to fuel the product demand over
the forecast period. High malleability, ductility, and tensile strength offered
by metal composites make them popular in various application segments including
automotive, electronics, and aerospace industries.
North America metal matrix composite market volume by product, 2012-2020 (Tons) |
Increasing
need for automotive curb weight reduction to increase fuel-efficiency and
reduce pollution is expected to augment composite metal usage in automotive
production. Increasing disposable income is expected to fuel high-performance
automobile demand over next seven years. High manufacturing costs for metal
composites along with limited technological expertise are expected to pose a
challenge for market growth over the forecast period.
North
America dominated the overall MMC market and accounted for 34.8% of the total
market volume in 2013. Rising demand for high-performance materials from
automotive and aerospace industries is expected to remain a key driving factor
affecting the MMC market over the forecast period. Asia Pacific is expected to
be the fastest growing market on account of rapidly growing automotive and
electronics industries. Europe is expected to witness slow growth on account of
lower growth rates of end-use industries.
Browse full
research report on Metal Matrix Composites Market: www.grandviewresearch.com/industry-analysis/metal-matrix-composites-mmc-market
Further
key findings from the report suggest:
- Global metal matrix composites market was
6,174.0 kilo tons in 2014 and is expected to grow at a CAGR of 6.3% from
2015 to 2022
- Aluminum accounted for 36.4% of the total MMC
demand in 2014 and was followed by refractory metals
- Refractory matrix metals are expected to be the
fastest growing product segment over the forecast period
- Ground transport was the leading application
segment in 2014 and is expected to grow at an estimated CAGR of 6.1% from
2015 to 2022
- Electronics/thermal management is expected to
be the fastest growing application segment for MMC.
- North America dominated the overall MMC market
and accounted for 34.8% of total market volume in 2013. Asia Pacific is
expected to be the fastest growing market growing at an estimated CAGR of
7.0% from 2015 to 2022.
- MMC market is moderately concentrated with few
multinational players with top five companies accounting for over 65% of
the total market share
- Major players operating in the global MMC
market include Materion Corporation, Plansee SE, 3M, Sumitomo Electric
Industries, Ltd., Sandvik AB, CPS Technologies Corporation, Deutsche
Edelstahlwerke GmbH, 3A Composites International AG, GKN PLC, and Hitachi
Metals, Ltd.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the metal matrix composite market on
the basis of product, end-use and region:
Global
Metal Matrix Composite Market Product Outlook (Volume, Tons, Revenue, USD
Million, 2012 - 2022)
- Aluminum
- Nickel
- Refractory
- Others
Global
Metal Matrix Composite Market End-Use Outlook (Volume, Tons, Revenue, USD Million,
2012 - 2022)
- Ground
Transportation
- Electronics/Thermal
Management
- Aerospace
- Others
Metal
Matrix Composite Market Regional Outlook (Volume, Tons, Revenue, USD Million,
2012 - 2022)
- North
America
- Europe
- Asia
Pacific
- Central
& South America
- Middle
East & Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-metal-matrix-composites-market
About Grand
View Research:
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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