Metal Matrix Composite Market

Market Overview:

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. The increasing demand for lightweight and high-performance materials, rising demand for refractory materials, and the growing utilization of electric vehicles (EVs) to reduce greenhouse gas emissions represent some of the key factors driving the market.

Metal matrix composites (MMCs) are composite materials, such as metals, alloys, or intermetallic compounds, which are incorporated with various particulates, whiskers or continuous fibers. They are manufactured by stacking and bonding alternative layers of metals or alloys to enhance the toughness and damage tolerance. They are designed to offer various benefits, such as improving strength, enhancing wear and creep resistance, increasing damping, and reducing thermal expansion. Besides this, MMCs provide high shear strength, enhance abrasion resistance, and offer nonflammability, minimal attack by fuels and solvents, and the ability to be formed and treated on conventional equipment. They are also applied to brake rotors, pistons, and other automotive components as MMCs can operate in high temperatures. As a result, it finds extensive applications in the aerospace, defense, electronics, marine, and packaging industries across the globe.

Metal Matrix Composite Market Trends:

At present, the increasing demand for lightweight and high-performance materials in the aerospace industry to boost fuel efficiency due to the inflating fuel prices represents one of the key factors supporting the growth of the market. Besides this, the rising awareness among the masses about the benefits of MMCs over metals is offering lucrative growth opportunities to industry investors. Moreover, there is an increase in the demand for refractory materials, such as tungsten, niobium, rhenium, and molybdenum, across the globe. This, along with the growing demand for durable and high-precision equipment in the electronics industry, is positively influencing the market. In addition, there is a rise in the utilization of tungsten carbide in heat sinks, resistance welding, and ammunition manufacturing around the world. This, coupled with the increasing employment of MMCs in power electronic modules due to their excellent thermal conductivity, tunable coefficient of thermal expansion, and low density, is propelling the growth of the market. Apart from this, the growing demand for particulate reinforced metal matrix composites (PRMMCs) to manufacture radiator panels, power semiconductor packages, microwave modules, battery sleeves, black box enclosures, and printed circuit board (PCB) heat sinks is offering a favorable market outlook. Additionally, the increasing production of cellular phones, portable computing devices, and gaming systems is strengthening the growth of the market. Furthermore, the escalating demand for electric vehicles (EVs) to reduce greenhouse gas emissions around the world is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global metal matrix composite market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, reinforcement material, reinforcement type, production technology, and end use industry.

Type Insights:

• Aluminium
• Nickel
• Refractory
• Others
   

The report has provided a detailed breakup and analysis of the metal matrix composite market based on the type. This includes aluminium, nickel, refractory, and others. According to the report, refractory represented the largest segment.

Reinforcement Material Insights:

• Silicon Carbide
• Aluminum Oxide
• Titanium Carbide
• Others
   

A detailed breakup and analysis of the metal matrix composite market based on the reinforcement material has also been provided in the report. This includes silicon carbide, aluminum oxide, titanium carbide, and others. According to the report, silicon carbide accounted for the largest market share.

Reinforcement Type Insights:

• Discontinuous
• Continuous
• Particles
   

A detailed breakup and analysis of the metal matrix composite market based on the reinforcement type has also been provided in the report. This includes discontinuous, continuous, and particles. According to the report, discontinuous accounted for the largest market share.

Production Technology Insights:

• Powder Metallurgy
• Liquid Metal Infiltration
• Casting
• Deposition Techniques
   

A detailed breakup and analysis of the metal matrix composite market based on the production technology has also been provided in the report. This includes powder metallurgy, liquid metal infiltration, casting, and deposition techniques. According to the report, powder metallurgy accounted for the largest market share.

End Use Industry Insights:

• Automotive and Locomotive
• Electrical and Electronics
• Aerospace and Defense
• Industrial
• Others
   

A detailed breakup and analysis of the metal matrix composite market based on the end use industry has also been provided in the report. This includes automotive and locomotive, electrical and electronics, aerospace and defense, industrial, and others. According to the report, automotive and locomotive accounted for the largest market share.

Regional Insights:

• 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
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for metal matrix composite. Some of the factors driving the North America metal matrix composite market included the growing number of automotive and aerospace manufacturers, increasing need for fuel-efficient vehicles, stringent government regulations to reduce automotive pollution, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global metal matrix composite market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global metal matrix composite market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global metal matrix composite market?
• What is the impact of each driver, restraint, and opportunity on the global metal matrix composite market?
• What are the key regional markets?
• Which countries represent the most attractive metal matrix composite market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the metal matrix composite market?
• What is the breakup of the market based on the reinforcement material?
• Which is the most attractive reinforcement material in the metal matrix composite market?
• What is the breakup of the market based on reinforcement type?
• Which is the most attractive reinforcement type in the metal matrix composite market?
• What is the breakup of the market based on production technology?
• Which is the most attractive production technology in the metal matrix composite market?
• What is the breakup of the market based on end use industry?
• Which is the most attractive end use industry in the metal matrix composite market?
• What is the competitive structure of the global metal matrix composite market?
• Who are the key players/companies in the global metal matrix composite market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the metal matrix composite market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global metal matrix composite market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the metal matrix composite industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.