Metal matrix composites (MMC) are materials comprising at least two parts: (i) metal (ii) ceramic fiber, organic material or other metal. The MMC consists of a metal matrix reinforced with a filling material to improve the mechanical performance of the composite material. Components and parts produced from MMC are used in various end user industries including ground transportation, electronics / thermal management, aerospace, defense, marine and nuclear. MMC Aluminum, MMC Nickel, Refractory MMC and others are the key product segments of MMC. The global MMC market generated revenue of USD 228.7 million in 2012 and is expected to reach USD 357.3 million by 2019, with a CAGR of 6.6% from 2013 to 2019.
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The Ground Transportation segment was MMC’s largest end-user segment in 2012. The Ground Transportation segment generated revenue of $ 119.6 million in 2012 and is expected to reach $ 184.2 million in 2019, with a CAGR by 6.4% from 2013 to 2019. The ground transportation segment has been followed by the electronics / thermal management industry, which will likely be the fastest growing end user segment in the market world of MMC. Ground transportation and electronics / thermal management segments are expected to experience significant growth over the next few years due to strong demand from the automotive and electronics industries globally. In addition, demand for MMC from other end users, including the nuclear industry and manufacturers of industrial equipment, is expected to increase at a decent rate over the next six years.
The global MMC market is segmented on the basis of regions. North America represents the largest market for the MMC industry. It is estimated that the increasing demand for various types of MMC from the automotive and aerospace industries in the United States will drive the market in North America. Asia-Pacific was the second largest market for MMC, followed by Europe and RoW. Asia-Pacific is expected to be the fastest growing regional market for MMC over the next few years due to strong demand from the automotive and electronics / thermal management industries in countries like China and India.
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Strong demand for MMC from the automotive, aerospace and electronics / thermal management industries is driving the global MMC market. MMC aluminum, which is used in the production of several automotive, aerospace and electronic components, was the largest market in terms of demand for MMC materials around the world in 2012. Growing use of MMC in the manufacture of lightweight components and Durable for different industrial applications is expected to lead the global MMC market over the next six years. However, declining global defense revenue and negative outlook for global shipping industry may hamper the market growth over the next few years. The major manufacturers of MMC are Materion Corporation, Sandvik AB, GKN PLC, 3M, Plansee SE, Sumitomo Electric Industries, Ltd., Hitachi Metals, Ltd., CPS Technologies Corporation, Deutsche Edelstahlwerke GmbH and 3A Composites.
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