The latest report by IMARC Group, titled "Metal Matrix Composite Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global metal matrix composite market size reached US$ 488.2 Million in 2022. Metal Matrix Composite (MMC) refers to a composite material in which a metal matrix is reinforced with a secondary material, typically ceramic or carbon fibers. It combines the advantageous properties of both the metal matrix and the reinforcing material, resulting in a material that exhibits enhanced strength, stiffness, and other desirable characteristics. In MMC, the metal matrix, such as aluminum, titanium, or magnesium, serves as the primary structural component, providing the material with toughness, ductility, and thermal conductivity. On the other hand, the reinforcing material, often in the form of fibers or particles, is embedded within the metal matrix and acts as a reinforcement phase. These reinforcing elements impart high strength, stiffness, wear resistance, and thermal stability to the composite.
Global Metal Matrix Composite Market Trends:
One of the primary factors driving the market is the rising demand for lightweight materials with enhanced performance characteristics. MMCs, with their combination of metal matrix and reinforcing materials, provide a solution by offering improved mechanical properties while reducing weight, resulting in increased fuel efficiency, better performance and reduced environmental impact. Additionally, the increasing applications of MMCs in diverse industries contribute to market growth. For instance, MMCs are used in aerospace for aircraft components like engine parts, structural elements, and landing gear. In the automotive sector, they are utilized for brake systems, pistons, and engine blocks. Other than this, MMCs offer superior characteristics like high strength, stiffness, wear resistance, and thermal stability compared to conventional metals. This has accelerated product adoption since numerous industries, such as electronics, sports equipment, and construction, seek materials that can withstand extreme conditions, improve performance, and provide longer service life. Moreover, with the advancements in manufacturing technologies, such as powder metallurgy, casting, and advanced composite processing methods, the production of MMCs has become more efficient and cost-effective. This enables wider adoption of MMCs in various industries, as they become more accessible and viable for mass production. Looking forward, IMARC Group expects the market to reach US$ 735.8 Million by 2028, exhibiting a growth rate (CAGR) of 6.78% during 2023-2028.
- On the basis of the type, the market has been segmented into aluminum, nickel, refractory, and others. Currently, refractory represents the most popular product type.
- Based on the material insight, the market has been classified into silicon carbide, aluminum oxide, titanium carbide, and others. Presently, silicon carbide holds the largest market share.
- On the basis of the reinforcement type, the market has been bifurcated into discontinuous, continuous, and particles. Currently, discontinuous accounts for the majority of the market share.
- Based on the production technology, the market has been segmented powder metallurgy, liquid metal infiltration, casting, and deposition techniques. At present, powder metallurgy represents the largest segment.
- On the basis of the end use, automotive and locomotive dominate the market. Other major segments include electrical and electronics, aerospace and defense, industrial, and others..
- Region-wise, North America (the United States and Canada) exhibits a clear dominance in the market. Other major regions are Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being 3M Company, ADMA Products Inc., CeramTec GmbH, CPS Technologies Corporation, Denka Company Limited, Deutsche Edelstahlwerke Services GmbH (Swiss Steel Holding AG), DWA Aluminium Composites USA Inc., Ferrotec Holdings Corporation, Materion Corporation, Melrose Industries plc, Plansee Group, SANTIER Inc. (EGIDE Group), and TISICS Ltd.
|Base Year of the Analysis
||Aluminium, Nickel, Refractory, Others
|Reinforcement Materials Covered
||Silicon Carbide, Aluminum Oxide, Titanium Carbide, Others
|Reinforcement Types Covered
||Discontinuous, Continuous, Particles
|Production Technologies Covered
||Powder Metallurgy, Liquid Metal Infiltration, Casting, Deposition Techniques
|End Use Industries Covered
||Automotive and Locomotive, Electrical and Electronics, Aerospace and Defense, Industrial, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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, etc.
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