IMARC Group, a leading market research company, has recently released report titled, “ Metal Matrix Composite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “, The study provides a detailed analysis of the industry, including the global metal matrix composite market size , share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advances in the market.
Report Highlights
| Report Attributes | Details |
| Market Size in 2022 | US$488.2 million |
| Market forecast in 2028 | US$735.8 million |
| Growth rate (2023 to 2028) | CAGR of 6.78% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
Metal matrix composites (MMCs) are a type of composite material that consists of a combination of metals, alloys, or intermetallic compounds with various particulates, whiskers, or continuous fibers. They are manufactured by bonding alternate layers of metals or alloys to improve toughness and damage tolerance. They offer several advantages, such as enhanced strength, wear and creep resistance, reduced thermal expansion, and increased damping. They possess high shear strength, abrasion resistance, nonflammability, and minimal attack by fuels and solvents and can be shaped and treated using conventional equipment. As a result, metal matrix composites find extensive applications in the aerospace, defense, electronics, marine, and packaging industries across the globe.
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The global metal matrix composites market is primarily driven by increasing demand for lightweight and high-performance materials in the aerospace industry to improve fuel efficiency and combat the increasing fuel prices. Moreover, the surging awareness among people about the advantages of MMCs over metals is positively influencing the market growth. Additionally, increasing demand for refractory materials, such as rhenium, molybdenum, tungsten, and niobium, across different industries has catalyzed market growth. Furthermore, escalating demand for durable and high-precision equipment from the electronics sector is contributing to market growth.Other factors, including the rising production of portable computing devices, the growing demand for electric vehicles, and the increasing number of space missions,
The report has segmented the market into the following categories:
Type Insights:
Reinforcement Material Insights:
Reinforcement Type Insights:
Production Technology Insights:
End Use Industry Insights:
Breakup by Region:
The report covers the major market players including:
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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