According to Stratistics MRC, the Global Metal Matrix Composite Market is accounted for $441.58 million in 2017 and is expected to reach $894.32 million by 2026 growing at a CAGR of 8.2% during the forecast period. Some of the key factors influencing the market growth include increasing demand for lightweight & strong MMC from the ground transportation end-use industry, growing demand for weight reduction from automotive industry and higher specific strength and modulus over metals. However, complicated manufacturing process is restraining the market growth.
Metal matrix composites (MMC) are composite materials consisting of a metal and a secondary ingredient which may be a different metal or non-metallic material such as ceramic or organic compound. The key characteristics associated with metal matrix composites is provision of superior mechanical and physical properties such as tensile strength, resistance to fire and moisture and can be used over a wide temperature range.
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Based on product type, Refractory matrix materials are expected to witness the substantial growth in terms of demand over the next seven years owing to multi-utility in several application segments including tools, nuclear reaction control rods, catalysts in chemical reactions, solar panels, and spacecraft exteriors.
By Geography, North America is projected to grow at the significant market share during the forecast period. This is due to the presence of established MMC manufactures and increased consumption of MMC in the aerospace and transportation industries in the region.
Some of the key players in global metal matrix composite market are Sumitomo Electric Industries Ltd., ADMA Products, Inc., 3M, Ceradyne, Inc., Sandvik AB, Plansee SE, Metal Matrix Cast Composites LLC, GKN PLC, Materion Corporation, Hitachi Metals, Ltd., CPS Technologies Corporation, 3A Composites, Deutsche Edelstahlwerke GmbH, TISICS Ltd., Thermal Transfer Composites LLC and Ferrotec Corporation.
Production Technologies Covered:
• Powder Metallurgy
• Liquid Metal Infiltration
• Depositions Techniques
Product Types Covered:
• Refractory Metal Matrix Composite
• Magnesium Metal Matrix Composite
• Aluminum Metal Matrix Composite
• Nickel Metal Matrix Composite
• Super Alloy MMC
• Copper MMC
• Other Product Types
Reinforcement Types Covered:
• Discontinuous Reinforcement
• Continuous Reinforcement
End-Use Industries Covered:
• Ground Transportation
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• Electronics and Thermal Management
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa