Metal Matrix Composites Market Size – USD 348.1 million in 2019 with a CAGR of 6.0%. Potential opportunities in new applications such as robots and high-speed machines
NEW YORK CITY, NY, USA, March 14, 2022 /EINPresswire.com/ — According to a new report from Reports and Data, the global metal matrix composites market is expected to reach USD 542.8 million by 2027. metal matrix composites is expected to experience significant growth due to positive application prospects in automotive, space equipment and electronics. It includes metal and ceramic or organic compounds with mechanical, physical and thermal properties, which can be customized by forging, rolling, heat treatment and casting.
Carbon, silicon carbide and ceramic fibers are embedded in an alloy or metal and have better electrical and thermal conductivity. It is used for outgassing and radiation resistance due to properties such as no moisture absorption, and it can withstand a wide range of temperatures.
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Metal matrix composites improve automotive fuel efficiency and are lightweight. Growing consumer concerns about rising oil prices have led to an increase in demand for fuel-efficient vehicles and, consequently, an increase in demand for metal matrix composites. Metal matrix composites have higher tensile strength than aluminum, steel and reinforced metal, which can influence the manufacturing of brake rotor and combustion engine of automobiles and turbines. Toyota, Ford and Honda use an aluminum matrix to improve the durability and functionality of cars.
Aluminum metal matrix composites increase fatigue resistance and reduce thermal expansion, allowing a wide field of application in passenger, light and heavy duty vehicles. Aluminum reinforced composites are commonly used in the assembly of the front face and clutch plate and crankshaft due to their excellent heat, abrasion resistance and fatigue properties. Porsche uses MMC cylinder sleeves in the 911 and Boxster model. Booming automotive sector owing to an increase in consumer spending in automotive may boost the growth of the metal matrix composites market.
The global materials and chemicals industry has been gaining momentum in recent years, driven by factors such as growing demand for essential consumer products including food and beverages, cosmetics and personal care products. and hygiene, and the increasing use of chemicals and raw materials in building and construction, agriculture, textiles, automotive, packaging and many other industries. The growing interest of manufacturers in deploying environmentally friendly materials and chemicals to increase industrial productivity and reduce carbon footprint is a major driver for the growth of this industry. Growing awareness of environmental conservation, introduction of organic and technologically advanced chemicals, and increasing use of high-performance specialty chemicals are further driving the revenue growth of the industry.
Major participants include CPS Technologies Corporation, Materion Corporation, GKN Sinter Metals, Metal Matrix Cast Composites, 3M, Deutsche Edelstahlwerke GmbH, Sandvik AB, Ferrotec Corporation, Plansee Se and Ceramic, among others.
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Other key findings from the report suggest
The metal matrix composite material has a low coefficient of thermal expansion and high thermal conductivity compared to aluminum and copper, thus favoring its use in the manufacture of semiconductors. The metal matrix composite shields devices from RF and thermal stress and has many applications in the electronics packaging system.
In Europe, the metal matrix composites market is driven by Germany, France and the United Kingdom and is expected to experience steady growth. An increase in consumer spending in the healthcare and automotive sectors could boost regional growth.
The robotic application might experience favorable gains during the forecast period. The global industrial robotics market could exceed $80 billion by 2024. Metal matrix composites have excellent mechanical strength, high temperature resistance, light weight, and better wear resistance, making them makes a suitable material for constructing robots.
Among the product segment of the metal matrix composites market, the refractory metal matrix currently leads the market and will continue to dominate with an estimate to register the highest CAGR of 6.2% over the forecast period.
Among the regional segment of the metal matrix composites market, North America currently leads the market with 34.8% of global market revenue. Asia Pacific is expected to register the highest CAGR of 6.4% over the forecast period.
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For the purposes of this report, the reports and data have been segmented into Metal Matrix Composites Market on the basis of Product, Production Technology, End Users and Region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Aluminum Metal Matrix Composite
Magnesium Metal Matrix Composite
Refractory Metal Matrix Composite
Production Technology Outlook (Revenue, USD Billion; 2017-2027)
Liquid metal infiltration
End User Outlook (Revenue, USD Billion; 2017-2027)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
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