The latest report by IMARC Group, titled “ Metal Matrix Composite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, The global metal matrix composite market size reached US$ 522.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 890.9 Million by 2032, exhibiting a growth rate (CAGR) of 5.92% during 2024-2032.
Metal matrix composites (MMCs) refer to composite materials made by combining various particulates, whiskers, or continuous fibers with metals, alloys, or intermetallic compounds. The incorporation of reinforcing materials into the metal matrix aims to enhance both the strength and wear resistance of the composite. Various metals and alloys are used as matrices due to their favorable properties and compatibility with the reinforcement process. By selecting suitable matrices, the composites can achieve improved structural integrity and resistance to wear and tear. MMCs are usually manufactured by stacking and bonding alternating layers of metals or alloys to increase toughness and damage tolerance. They offer various advantages, including higher strength, improved wear and creep resistance, enhanced damping properties, and reduced thermal expansion. They are employed in automotive applications, such as brake rotors and pistons, due to the ability of MMCs to operate in high-temperature environments. Additionally, they exhibit high shear strength, superior abrasion resistance, nonflammability, resistance to fuel and solvent attack, and compatibility with conventional forming and treatment equipment. As a result, MMCs find extensive applications in various industries such as aerospace, defense, electronics, automobile, marine, and packaging across the globe.
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Metal Matrix Composite Market Trends and Drivers:
The global metal matrix composite market is primarily driven by the increasing demand for lightweight and high-performance materials in the aerospace industry. Moreover, the rising demand for MMCs to improve fuel efficiency, particularly with the inflating fuel costs, is positively influencing the market growth. Along with this, the growing awareness among individuals about the benefits of MMCs compared to traditional metals has augmented the product demand. Additionally, the escalating demand for refractory materials such as tungsten, niobium, rhenium, and molybdenum due to the rising need for durable and high-precision equipment in the electronics industry has catalyzed market growth. In addition, the increasing use of tungsten carbide in various applications such as heat sinks, resistance welding, and ammunition manufacturing is another major growth-inducing factor. Apart from this, the rising application of MMCs in power electronic modules owing to their exceptional thermal conductivity, tunable coefficient of thermal expansion, and low density is propelling the market growth. Furthermore, the surging adoption of particulate-reinforced metal matrix composites (PRMMCs) for manufacturing radiator panels, power semiconductor packages, microwave modules, battery sleeves, black box enclosures, and printed circuit board (PCB) heat sinks is contributing to the market growth. Besides this, the increasing production of cellular phones, portable computing devices, and gaming systems has accelerated the product adoption rate. Other factors, including rising demand for electric vehicles (EVs), increasing investments in research and development (R&D) initiatives by key players, and stringent government regulations regarding automotive emissions, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Aluminium
- Nickel
- Refractory
- Others
Reinforcement Material Insights:
- Silicon Carbide
- Aluminum Oxide
- Titanium Carbide
- Others
Reinforcement Type Insights:
- Discontinuous
- Continuous
- Particles
Production Technology Insights:
- Powder Metallurgy
- Liquid Metal Infiltration
- Casting
- Deposition Techniques
End Use Industry Insights:
- Automotive and Locomotive
- Electrical and Electronics
- Aerospace and Defense
- Industrial
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 3M Company
- ADMA Products Inc.
- CeramTec GmbH
- CPS Technologies Corporation
- Denka Company Limited
- Deutsche Edelstahlwerke Services GmbH (Swiss Steel Holding AG)
- DWA Aluminum Composites USA Inc.
- Ferrotec Holdings Corporation
- Materion Corporation
- Melrose Industries plc
- Plansee Group
- SANTIER Inc. (EGIDE Group)
- TISICS Ltd
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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