Infinium Global Research has added a new report on Global Metal Matrix Composites Market. The report covers the analysis of global as well as regional markets of Metal Matrix Composites. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run. According to the report, the global metal matrix composites market is projected to grow at a CAGR of 6.46% over the forecast period of 2019-2025.
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Metal Matrix Composites Market: Competitive Landscape
The metal composite materials display better mechanical properties than their metal counterparts. The growing demand from various end-use industries for metal matrix composites due to their superior physical properties is driving the market. The metal matrix composites market is highly competitive in terms of pricing and the operating rate for manufacturers. The key players in the market including Materion Corporation, Sandvik AB, Plansee SE, GKN PLC, 3M Company, CPS Technologies Corporation, and others are focusing on vertical integration and product development.
Metal Matrix Composites Market: Drivers, Restraints & Opportunities
The growing demand for lightweight components for the automotive industry is the major driving factor for the growth of the metal matrix composites market. Furthermore, the rising need for high-performance material for aerospace and marine industry is supporting the demand for metal matrix composites. However, the high set up costs of the production systems are the major restraining factor for the growth of the metal matrix composites market. Nevertheless, the growing adoption of metal matrix composites in military-specific vehicles and aircraft is expected to offer lucrative opportunities for the key players in the metal matrix composites market.
Metal Matrix Composites Market: Segmentation
The metal matrix composites industry is segmented based on product type and end-use. The product types of metal matrix composites are classified into aluminum MMC, magnesium MMC, nickel MMC, refractory MMC, and other product types. The aluminum MMC segment held the largest market share among the product types owing to its better physical properties and low production cost. The end-uses for the metal matrix composites are categorized into ground transportation, electronics/thermal management, aerospace, industrial and other end-uses. The ground transportation segment among the end-uses dominated the market owing to increasing demand for lightweight and tough components.
Metal Matrix Composites Market: Regional Insight
Regionally, North America held the highest market share, dominating the global metal matrix composites market. The dominance of the North America market attributed to the high demand from the automotive and aerospace sector for lightweight and strong materials. While the Asia Pacific region registered the highest growth rate for metal matrix composites market owing to the rapidly expanding automotive and electronics industries.
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