Metal Matrix Composites Market size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2192
Metal Matrix Composites Market size may witness significant growth owing to positive application outlook in electronics, automotive and space equipment. It comprises of metal and organic or ceramic compound with thermal, mechanical and physical properties which can be customised by casting, forging, rolling and heat treatment.
Carbon, Ceramic fibres and silicon carbide are embedded in metal or alloy and possess better thermal & electrical conductivity. It is used as radiation resistance and outgassing owing to properties like withstand wide range of temperature and do not absorb moisture.
Metal matrix composites (MMC) are light in weight and improves automobile fuel efficiency. Growing consumer concerns regarding increasing oil prices has led to rise in fuel efficient vehicle demand thereby stimulating metal matrix composites demand MMC has greater tensile strength as compared to reinforced metal, aluminium and steel which may influence automotive & turbines combustion engine and brake rotor manufacturing. Honda, Toyota and Ford are using aluminium matrix to improve car functionality and durability
Aluminium MMC reduce thermal expansion & increase fatigue resistance leading to wide application scope in light weight, passenger & heavy vehicles. Aluminium reinforced composite are extensively used in car clutch &face plate assembly and crank shaft due to excellent fatigue, heat and abrasion resistance properties Porsche uses MMC in cylinder sleeves in Boxster & 911 model. Flourishing automobile sector owing to increase in consumer spending on automotive may drive metal matrix composites market size.
Increase in per capita disposable income has led to rise in sports car demand thereby promoting product demand. Carbon fibre matrix are stiff and low density in nature which enhance fuel efficiency. It is widely used in piston recess walls, brake pad and backing plates, brake disc and cylinder sleeves in engine due to high thermal stability and expansion resistance.
Metal matrix composites material has high thermal conductivity and low thermal expansion coefficient than copper and aluminium thereby promoting its use in semiconductor manufacturing. MMC protect device from thermal stress and radio frequency and has wide application in electronic packing system. Electronic packaging is used in navigation equipment, sensor devices, communication and medical equipment. MMC is light in weight and reduces packing weight and enhance equipment life and functionality.
Composite materials are used in communication satellite as they are stiff in nature, low thermal expansion coefficient, light weight and possess dimensional stability. Space craft made from MMC can withstand thermal radiations, ionic radiation & plasma, atomic oxygen and provides dimensional stability.
High buoyancy and light weight makes metal matrix composites beneficial in ship building. MMC has good mechanical property and protects vessel from creep and fatigue. It prevents scaling at ship bottom leading less maintenance requirement and improves ship life. Shift in ship building manufacturers preference from wood and metals usage towards MMC may fuel metal matrix composites demand.
Metal matrix composites market size from robotic application may witness favourable gains over the projected time frame. Global industrial robotic market is may exceed over USD 80 billion by 2024. Metal matrix composites have better wear & tear resistance, good mechanical strength high temperatures resistance and light weight makes them suitable material for robot construction.
Increasing health ailment, due to rise in aging population along with growing health care expenditure has encouraged technological advancement in medical device industry. Increasing application potential in in joints replacement, wheel-chairs, prosthetics, electro- medical equipment, surgical appliances and dental equipment owing to light in weight and good fatigue strength.
North America, driven by Canada and the U.S. metal matrix composites market may witness significant growth owing to expansion in telecommunication and automobile industry. Presence of various companies investing in these sectors to expand their business may stimulate industry growth.
Metal matrix composites market in Europe driven by UK, Germany and France may witness a steady growth. Increasing in consumer spending on automobile sector and growing medical expenses may drive regional growth.
Asia Pacific led by Japan, India and China is foreseen to play major role in metal matrix composites market growth. China has recorded for maximum car purchase in 2016 owing to government favourable tax policies for light commodity vehicle. Indian competency, low budget technology and high success rate of launching space satellites & crafts has grabbed world attention. Increasing aging population and rising economic standards in China, Japan and India may propel regional growth.
Metal matrix composites are expensive than traditional material they are substituting as a result they are used where product improvement and performance is justifiable. The manufacturing cost are very high leading usage in high end products like luxury, sports car and space components. High manufacturing cost may pose challenge metal matrix composites industry.
Global metal matrix composites market is consolidated. The dominant players are 3M, CPS Technologies, Santier, AZom, Hitachi Metals and Deutsche Edelstahlwerke.
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