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Metal Matrix Composites Market Size (2024 - 2029)

The Metal Matrix Composites Market is experiencing a recovery post-pandemic, driven by the increasing demand for lightweight materials in the aerospace and defense sectors and the superior properties of these composites compared to traditional metals. Despite challenges posed by the complex manufacturing process, the market is poised for growth, with new opportunities arising from the expanding use in the locomotive industry and the rising adoption of electric vehicles. While North America currently holds the largest market share, the Asia-Pacific region is expected to lead the market in the coming years.

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Market Size of Metal Matrix Composites Industry

Metal Matrix Composites Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 457.16 Million
Market Size (2029) USD 626.07 Million
CAGR (2024 - 2029) 6.49 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Metal Matrix Composites Market Major Players

*Disclaimer: Major Players sorted in no particular order

Metal Matrix Composites Market Analysis

The Metal Matrix Composites Market size is estimated at USD 457.16 million in 2024, and is expected to reach USD 626.07 million by 2029, growing at a CAGR of 6.49% during the forecast period (2024-2029).

During the pandemic period in 2020 due to COVID-19, there were nationwide lockdowns and social distancing mandates which led to supply chain disruption and the closure of various manufacturing industries. This impacted the market negatively. However, in the post-pandemic period, the market is getting back on track.

  • Increasing demand for lightweight materials in the aerospace and defense industry and superior properties of metal matrix composites over metals are the major driving factors for the market.
  • However, the complicated manufacturing process is likely to hinder the market growth.
  • Growing use in the locomotive industry and increasing adoption of electric vehicles are expected to provide new opportunities for the market.
  • North America accounted for the highest market share. However, Asia-Pacific is projected to dominate the market during the forecast period.

Metal Matrix Composites Industry Segmentation

Metal matrix composites (MMCs) are composite materials containing at least two constituent parts, a metal part, and a material or a different metal part. The metal matrix is reinforced with other materials to improve strength and wear. Most metals and alloys are used to make good matrices. The metal matrix composites market is segmented by type, filler, end-user industry, and geography. By type, the market is segmented into nickel, aluminum, refractory, and other types. On the basis of fillers, the market is segmented into silicon carbide, aluminum oxide, titanium carbide, and other fillers. By end-user industry, the market is segmented into automotive and locomotive, electrical and electronics, aerospace and defense, industrial, and other end-user industries. The report also covers the sizes and forecasts for the metal matrix composites market in 16 major countries across various regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Type
Nickel
Aluminium
Refractory
Other Types
Fillers
Silicon Carbide
Aluminum Oxide
Titanium Carbide
Other Fillers
End-user Industry
Automotive and Locomotive
Electrical and Electronics
Aerospace and Defense
Industrial
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Metal Matrix Composites Market Size Summary

The metal matrix composites market is poised for significant growth, driven by the increasing demand for lightweight materials, particularly in the aerospace and defense sectors. These composites offer superior properties compared to traditional metals, making them an attractive choice for various applications. Despite challenges such as complicated manufacturing processes, the market is expected to benefit from new opportunities in the locomotive industry and the rising adoption of electric vehicles. North America currently holds a substantial market share, but the Asia-Pacific region is anticipated to take the lead during the forecast period, supported by its robust electronics and automotive industries.

In the electronics sector, metal matrix composites are utilized for their excellent thermal and mechanical properties, finding applications in power electronic modules and other components. The growing production of electronic devices, particularly in Asia-Pacific countries like China, Japan, and South Korea, is expected to drive demand for these materials. Additionally, government initiatives and investments in the region's industrial and aerospace sectors are likely to further boost market growth. The global market remains partially fragmented, with key players such as GKN Sinter Metals Engineering GmbH, Materion Corporation, and 3M actively participating in strategic partnerships and acquisitions to enhance their market positions.

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Metal Matrix Composites Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Lightweight Materials in Aerospace and Defense Industry

      2. 1.1.2 Superior Properties of Metal Matrix Composites over Metals

    2. 1.2 Restraints

      1. 1.2.1 Compilicated Manufacturing Process

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Technological Snapshot

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Nickel

      2. 2.1.2 Aluminium

      3. 2.1.3 Refractory

      4. 2.1.4 Other Types

    2. 2.2 Fillers

      1. 2.2.1 Silicon Carbide

      2. 2.2.2 Aluminum Oxide

      3. 2.2.3 Titanium Carbide

      4. 2.2.4 Other Fillers

    3. 2.3 End-user Industry

      1. 2.3.1 Automotive and Locomotive

      2. 2.3.2 Electrical and Electronics

      3. 2.3.3 Aerospace and Defense

      4. 2.3.4 Industrial

      5. 2.3.5 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Spain

        6. 2.4.3.6 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Metal Matrix Composites Market Size FAQs

The Metal Matrix Composites Market size is expected to reach USD 457.16 million in 2024 and grow at a CAGR of 6.49% to reach USD 626.07 million by 2029.

In 2024, the Metal Matrix Composites Market size is expected to reach USD 457.16 million.

Metal Matrix Composites Market Report Snapshots

Metal Matrix Composites Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)