Major players in the metal matrix composite market are 3M, CPS Technologies, GKN Sinter Metals, CeramTec, Ferrotec Corporation, Sandvik, Plansee, ADMA Products, Metal Matrix Cast Composites LLC, TISICS, DWA Aluminum Composites, Mi-Tech Tungsten Metals, AMETEK Specialty Metals Products, Santier, and Denka Company.
New York, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Metal Matrix Composite Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06130528/?utm_source=GNW
The global metal matrix composites market is expected to grow from $329.11 million in 2020 to $352.76 million in 2021 at a compound annual growth rate (CAGR) of 7.2%. The growth is mainly due to the increasing usage of MMC in the automotive & transportation and aerospace sector, growing focus on performance enhancement, rising concerns regarding environmental degradation and increasing levels of carbon emissions. The market is expected to reach $539.66 million in 2025 at a CAGR of 11.2%.
The metal matrix composite market consists of sales metal matrix composites by entities (organizations, sole traders, and partnerships) that manufacture metal matrix composite materials.Metal matrix composites (MMCs) are a class of materials (metals, alloys, or intermetallic compounds) that have been reinforced with particles, whiskers, or continuous fibers.
MMCs are excellent substitutes to conventional materials owing to their hardness, specific strength, and creep resistance.
The main types of metal matrix composites are aluminum MMC, magnesium MMC, copper MMC, superalloys MMC, and others.Aluminum is a chemical compound that is a light, silver-colored metal that is mostly utilized in the manufacture of cooking equipment and aircraft components.
Aluminum metal matrix composites (AlMMCs) are a type of material that has shown to fulfill the majority of the stringent requirements in applications requiring lightweight, high stiffness, and moderate strength.Magnesium–matrix composites have been developed for the space industry thank to the low density of magnesium and its alloys.
Copper–matrix composites are superior compared with other MMCs.Some equipment in particle accelerators such as Radio Frequency Quadrupoles (RFQs) or electron targets use copper MMC compounds such as Glidcop to retain the material properties of copper at high temperatures and radiation levels.
Super alloys are commonly used as candidate materials for manufacturing gas turbine blades, where they operate at higher temperatures and speeds. The various production technologies include liquid metal infiltration, powder metallurgy, casting, deposition techniques. Metal matrix composites are used in various sectors such as automotive and transportation, aerospace and defense, electrical and electronics, industrial, among others.
North America was the largest region in the metal matrix composite market in 2020.Asia Pacific was expected to be the fastest region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growing technological advancements are shaping the metal matrix composite market.Major institutes and companies are focusing on projects involving advanced composite materials for the automotive and aerospace industries.
According to a study published in 2021, Al-based metal matrix composites (AMMCs) have found enormous applications in the aerospace, automobile, and other structural applications.Compared with the conventional processes such as casting and powder metallurgy, AMMCs processed by additive manufacturing show a significant difference between microstructure and properties.
Further, in 2019, the CSIR-National Institute for Interdisciplinary Science and Technology launched an Indo-German project on innovative composite materials involving near-net shape (NIIST) technology. The objective of the new CSIR-NIIST project is to produce lightweight near-net form carbon-fiber-reinforced aluminum composites and parts for the automotive and aerospace sectors.
In July 2019, ITT Inc., a US-based designer, and manufacturer of highly engineered connector solutions acquired Matrix Composites, Inc. for a deal amount of $29 million. The acquisition is expected to broaden ITT’s ability to service aerospace clients by providing a larger range of composites capabilities, as well as expanding ITT’s product line to include aerospace composite technology. Matrix Composites, Inc. is a US-based company that designs and manufactures high-performance composite components specializing in critical applications in various industries.
The growth of the automotive industry is expected to fuel the growth of the metal matrix composite market in the coming years.The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles.
Metal matrix composites are used to lower vehicle weight and enhance the efficiency of automobiles. For instance, according to the statista, global automotive industry is expected to grow to 9 trillion U.S. dollars by 2030, with new vehicle sales accounting for about 38% of this value. Electric vehicle sales are expected to increase from 2.5 million in 2020 to 3.4 million in 2021 and 31.1 million in 2030. Therefore, the expansion of the automotive industry propels the growth of the metal matrix composite market.
The countries covered in the metal matrix composite market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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