– Metal Matrix Composites Demand to Grow at 5% CAGR as Applications Soar Beyond Electric and Automotive Manufacturing
– The Fact.MR market survey on the metal matrix composites market provides deep dive into key developments across various segments including product, production technology, and applications. The study projects an uptick in applications of metal matrix composites in the automotive and transport sector.
NEW YORK, Aug. 31, 2021 /PRNewswire/ — The global metal matrix composites market is poised to reach US$ 630 Mn in 2031, expanding at a positive 5% CAGR during the assessment period.
Owing to rising concerns regarding harmful greenhouse emissions and focus on decarbonization, the demand for alternative to conventional materials in automotive, aerospace, and other industries is on a rise. This is fostering sales of metal matrix composites and the trend is anticipated to prevail in the forthcoming years.
Metal matrix composites provide superior tensile strength, stiffness, higher operating temperature, and wear and tear resistance, which is driving their applications in industries such as electric/electronic, aerospace & defense, automotive, and others.
Besides this, increasing expenditure on research and development and government-backed initiatives are anticipated to encourage investment towards the development of new technologies and products in the metal matrix composites market.
Request a report sample to gain comprehensive insights at
https://www.factmr.com/connectus/sample?flag=S&rep_id=6859
As per Fact.MR, the demand for powder metallurgy is estimated to rise at a positive pace. Increasing sales can be attributed to rising adoption of ball mill mixing, hot pressing, extrusion, and vacuum pressing technology to manufacture metal matric composites. The process is cost-effective and commercially available, which in turn, is fueling demand for metal matrix composites.
Fact.MR also forecasts the U.S. to emerge as a lucrative metal matrix composites market. Growth can be attributed to the presence of leading automotive and aircraft manufacturers, along with prominent metal matrix composites suppliers in the country is anticipated to augment market growth in forthcoming years.
“Increasing demand from electrical and electronics industry, coupled with the development of highly effective and innovative products by key market players will continue supplementing market growth during the forecast period. Besides these, mergers and acquisitions will remain primary growth strategies, as market players seek to expand their global footprint” says the Fact.MR analyst.
Key Takeaways from Metal Matrix Composites Market:
- Sales of magnesium metal matrix composites are estimated to remain high.
- Based on production technology, powder metallurgy is projected to remain highly sought-after, with demand increasing at 4% CAGR.
- In terms of applications, the automotive and transport sector is estimated to account for the maximum market share.
- The U.S. is projected to experience high demand for metal matrix composites, owing to increasing defense spending and significant investments in research and development.
- China will emerge as an attractive market, totaling approximately US$ 130 Mn in 2031.
Growth Drivers:
- Increasing expansion of the automotive, electric, electronic, and construction industry will drive sales of metal matrix composites.
- Growing popularity and adoption of powder metallurgy will positively shape the sales outlook of metal matrix composites.
- Restraints:
- Increasing manufacturing costs and weak technological competency for metal matrix composites might stunt market growth.
- Lack of skilled professionals and shortage of equipment to streamline metal matrix composites manufacturing will have a negative impact on sales.
Competitive Landscape
As a part of their growth strategies, leading players are focusing on expanding their product portfolios through mergers, acquisitions, and strategic collaborations. For instance, in 2019, GKN Powder Metallurgy, a subsidiary of GKN plc, inaugurated a new customer care center in Bonn, Germany, to enable the company to assist its customers and partners in a better way.
Leading Players in the Metal Matrix Composites Market Include:
- 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.
To learn more about Metal Matrix Composites Market, you can get in touch with our Analyst at
https://www.factmr.com/connectus/sample?flag=AE&rep_id=6859
More Valuable Insights on Metal Matrix Composites Market
Fact.MR provides an unbiased analysis of the metal matrix composites market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global metal matrix composites market with a detailed segmentation on the basis of:
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
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Key Questions Covered in the Metal Matrix Composites Market Report
- The report offers insight into metal matrix composites market demand outlook for 2021-203
- The market study also highlights projected sales growth for metal matrix composites market between 2021 and 203
- Metal matrix composites market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Metal matrix composites market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Explore Fact.MR’s Coverage on the Chemical & Materials Domain –
Metal Finishing Chemicals Market– The metal finishing chemicals market will grow slowly as COVID-19 caused disruptions in industries such as automotive, aerospace, electrical and electronics, and others. While recovery is expected, strict limits enacted to reduce harmful component emissions from industry will continue to pose a threat. The demand for electroplating is increasing as the automobile sector continues to grow. The global metal finishing chemicals market is predicted to develop due to an increase in demand for flawless finished metal in electrical equipment, machinery parts, construction machinery, and other applications.
Graphene Composites Market– The widespread use of graphene in numerous industries due to its advantageous properties is expected to fuel demand for graphene composites. Furthermore, the introduction of new entrepreneurs has not only made the firm more competitive, but it has also provided the market with lucrative expansion opportunities. Furthermore, supporting government regulations to promote the product’s use in numerous sectors are expected to propel the market’s growth in the coming years. In addition to energy storage systems, textiles, and construction, graphene composites are employed as alternative items.
Composites Testing Market– Composites Testing will become more popular as more composites are used in transportation, aircraft, defense, and wind energy, all of which require high testing standards. The increase in demand for composites testing is due to a variety of additional applications of composites, including building and construction, sporting goods, and electrical and electronics. With the increasing use of composites in the defense and aerospace industries, the need for composites testing from modern commercial aircraft has grown over time.
About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & chemical and materials, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
Logo: https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg
SOURCE Fact.MR