Metal Matrix Composite Market Size 2023 | Industry Growth, Share and Forecast 2028

Metal Matrix Composite Market Size 2023 | Industry Growth, Share and Forecast 2028

September 4, 2023

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

How big is the metal matrix composite market?

Report AttributesDetails
Market Size in 2022US$488.2 million
Market forecast in 2028US$735.8 million
Growth rate (2023 to 2028)CAGR of 6.78%
Base Year of the Analysis2022
Forecast Period2023-2028

What is metal matrix composite?

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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What are the growth prospects and trends in the metal matrix composite industry?

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,

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights:

  • Aluminum
  • Nickel
  • Refractory
  • Others

Reinforcement Material Insights:

  • silicon carbide
  • aluminum oxide
  • titanium carbide
  • Others

Reinforcement Type Insights:

  • Discontinuous
  • continuous
  • particles

Production Technology Insights:

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

End Use Industry Insights:

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

Breakup by Region:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • 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
  • Material Corporation
  • Melrose Industries plc
  • Plansee Group
  • SANTIER Inc. (EGIDE Group)
  • TISICS Ltd, etc.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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