At a CAGR of 6.87% Global Metal Matrix Composite Market Size to Reach $905.15 Million in 2030

Metal Matrix Composite

Market Definition:

According to report by Altus Market Research titled, “Global Metal Matrix Composite Market 2022 Opportunities And Strategies To 2030: By Matrix Type; By Production Technology; By End-Use Industry: (Automotive and Transportation; Aerospace and Defense; Electrical and Electronics; Industrial)“, the global metal matrix composite market size reached a value of nearly $455.34 million in 2020, having increased at a compound annual growth rate (CAGR) of 6.34% since 2015. The market is expected to grow from $455.34 million in 2020 to $649.33 million in 2025 at a rate of 7.38%. The market is then expected to grow at a CAGR of 6.87% from 2025 and reach $905.15 million in 2030.

Market Growth Drivers:

Growth factors in the historic period include strong economic growth in emerging markets, rapid growth in the automotive industry, increasing demand for lightweight materials in the aerospace and defense industry, and increase in government support. The market was restrained by restrictions in free trade, complicated manufacturing process, and rising costs of metal products.

Going forward increased demand across various applications, increased demand for powder metallurgy, and rising demand for aluminum components will drive the growth in the metal matrix composite market. Factors that could hinder the growth of the market in the future include coronavirus pandemic, high cost of powder metallurgy, and global recession.

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Market Growth by Segments:

The metal matrix composite market is segmented by matrix type into aluminum MMC, magnesium MMC, copper MMC, super alloys MMC, and others.

The aluminum MMC market was the largest segment of the metal matrix composite market, accounting for 44.3% of the total in 2020. Going forward, the aluminum MMC market segment is expected to be the fastest growing segment in the metal matrix composite market at a CAGR of 7.3% during 2020-2025.

The metal matrix composite market is segmented by production technology into liquid metal infiltration, powder metallurgy, casting, and deposition techniques. The powder metallurgy market was the largest segment of the metal matrix composite market segmented by production technology, accounting for 44.8% of the total in 2020. Going forward, the powder metallurgy metal matrix composite by production technology market segment is growing at a CAGR of 7.4% during 2020-2025.

Market Growth by Applications:

The metal matrix composite market is segmented by application into automotive and transportation, aerospace and defense, electrical and electronics, industrial, and others. The automotive and transportation market was the largest segment of the metal matrix composite market segmented by application, accounting for 40.4% of the total in 2020. Going forward, the automotive and transportation market segment is expected to be the fastest growing segment in the metal matrix composite market segmented by application, at a CAGR of 7.2% during 2020-2025.

The top growth potential in the metal matrix composite market by matrix type will arise in aluminum MMC market, which will gain $85.6 million of global annual sales by 2025. The top growth potential in metal matrix composite market by production technology will arise in powder metallurgy market, which will gain $87.0 million of global annual sales by 2025. The top growth potential in metal matrix composite market by end-use industries will arise in the automotive and transportation market at $76.4 million.

Market Growth by Region:

North America was the largest region in the metal matrix composite market, accounting for 36.5% of the total in 2020. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the metal matrix composite market will be Asia-Pacific where growth will be at CAGRs of 8.5% during 2020-2025. This will be followed by South America and Western Europe, where the markets are expected to register CAGRs of 7.9% and 7.8% respectively during 2020-2025.

Market Growth by Key Players:

The global metal matrix composite market is relatively fragmented, with a large number of small players. The top ten competitors in the market made up to 30.75% of the total market in 2020. Major players in the market include Materion Corporation, CPS Technologies Corporation, CeramTec, Ferrotec Holdings Corporation, and DWA Aluminum Composites.

Other Players

GKN Sinter Metals, 3M, Plansee SE, Sandvik, Thermal Transfer Composites LLC, Sumitomo Electric Industries, Ametek, Denka China Baowu Group, NANJING YUNHAI SPECIAL METALS CO., LTD, QingHai Salt Lake Industry Co.,Ltd . Uyemura & Co. Ltd, Kennametal Inc., Apex Tools Group, Akar Tools Ltd., Channellock, Inc, DAT Alloytech Company Limited, Deutsche Edelstahlwerke GmbH, 3A Composites, TISIC Metal Composites, Tenmat, Flowserve, Timken, Amteke Finland Oy, Schaeffler, Mueller Industries, Ball Corporation, Snap-on, Arcelor Mittal, ThyssenKrupp, Tata Steel, Gibraltar Industries, Mi-Tech Tungsten Metals LLC, Metal Matrix Cast Composites, Aluar Alumino Argentino, Companhia Brasileira de Aluminio, Albras Alumínio Brasileiro S.A., Codelco, Indumil, MMC Group, Emirates Global Aluminum, Alba, Aboura Metals, Qatalum, Sohar Aluminum Emirates Metallic Company Industries (EMIC), Qatar Steel Ltd, Arabian Metal Industries, Saudi Arabian Mining Company, Al Shahin Metal Industries, Pan gulf Industrial Investment, National Iranian Copper Industries, Egyptian Steel Ltd, Glencore, BFG Africa, AAT Composites, Hexcel Andrew Mentis Ltd., Argent Industrial Ltd., Afmetco Ltd, CIS Engineering Ltd., GRI Wind Steel South Africa Ltd., Fenster Aluminum Ltd., Consolidated Steel Industries Ltd., Hulamin Ltd., Leita Steel Ltd, Kwikspace Modular Buildings Ltd.

Strategies by Key Players:

Player-adopted strategies in the metal matrix composite industry include Materion Corporation’s growth strategy is focused on strengthening its product portfolio by new product launch. CPS Technologies Corporation’s strategy is focused on strengthening its business by accepting order from big clients for metal-matrix composites panels. CeramTec’s growth strategy is focused on expanding its leading position as a diversified MedTech platform, driving ongoing product development and strategic M&A in a sector underpinned by strong secular growth trends and for the same company is focusing on collecting more investment. DWA Aluminum Composites USA growth strategy aims at consistently providing Aluminum Metal-Matrix-Composite products that meet or exceed the requirements of their valued customers. They actively pursue quality improvements through programs that enable each employee to do their job right the first time and every time.

Market Trend-based Strategies

Market-trend-based strategies for the metal matrix composite include companies in the metal matrix composite market should invest in technological advancements to meet the demand from customers and gain a competitive advantage over other players operating in the industry, should consider investing in aircraft manufacturing due to MMC’s low costs and versatility, manufacturers should consider targeting applications in the automobile industry because of MMC’s properties of being lightweight and resistant to corrosion, consider developing MMC’s with self-healing capabilities, and targeting the electrical devices industry owing to its demand for high heat resistance.

Growth Strategies by Altus Market Research for Companies in the Market:

To take advantage of these opportunities, Altus Market Research recommends the metal matrix composites companies should focus self-healing metal matrix companies, and technological advancements, expand in emerging markets, offer competitive pricing, participate in trade shows and events, increase visibility through high performance websites, leverage digital media to increase reach, partnerships with end users.