Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!

Metal Matrix Composite Market Growth Forecast 2024-2033: What’s the Expected Rate?

In recent years, the market size of metal matrix composites has seen substantial growth. From $0.56 billion in 2023, it is projected to escalate to $0.6 billion in 2024, with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth during the historic period include robust economic expansion in emerging markets, swift development in the automotive sector, a rising demand for light materials in the Aerospace and Defense industry, and heightened government backing.

Anticipated to witness robust growth in the coming years, the market size of the metal matrix composite is projected to expand to $0.77 billion in 2028, with a 6.6% compound annual growth rate (CAGR). The expansion within the projected period can be ascribed to the surge in demand in various applications, the escalating demand for powder metallurgy, and an upward trend in the demand for aluminum parts. Notable trends for the anticipated period encompass investing in technological innovation to cater to customer needs and securing a competitive edge over other market participants, contemplating investment in aircraft production considering the low cost and versatility of MMCs, manufacturers considering the automotive industry as a target for application due to the MMC’s attributes of being lightweight and corrosion-resistant, pondering the development of MMCs possessing self-healing abilities, and the targeting of the electrical devices industry due to its high demand for heat resistance.

Claim Your Free Sample of the Global Metal Matrix Composite Market Report Today!

https://www.thebusinessresearchcompany.com/sample.aspx?id=5173&type=smp

What Factors Are Impacting the Growth of the metal matrix composite Market?

The upswing in the automotive sector is slated to steer the expansion of the metal matrix composite market in the near future. The automobile sector encompasses an array of businesses and organizations involved in the conceptualization, creation, marketing, and selling of vehicles. Metal matrix composites play a crucial role in reducing the weight of vehicles and optimizing their efficiency. For instance, a report released by the European Automobile Manufacturers’ Association (ACEA) in May 2023, indicated that in 2022, global motor vehicle production hit a high of 85.4 million, presenting a growth of 5.7% compared to 2021. Furthermore, data from the International Organization of Motor Vehicle Manufacturers, a 36 national trade association, showed that the total production of cars and commercial vehicles went up from 80,145,988 in 2021 to 85,016,728 in 2022. This increase in the automotive sector is a key driver for the growth of the metal matrix composite market.

What Are the Fundamental Segments in the Metal Matrix Composite Market?

1) By Matrix Type: Aluminum MMC, Magnesium MMC, Copper MMC, Super Alloys MMC, Other Matrix Types

2) By Production Technology: Liquid Metal Infiltration, Powder Metallurgy, Casting, Deposition Techniques

3) By End-Use Industry: Automotive And Transportation, Aerospace and Defense, Electrical And Electronics, Industrial, Other End-User Industries

What Trends Are Shaping the New Direction of the Metal Matrix Composite Market?

The advancement in technology is defining the progression of the metal matrix composite market. A number of renowned institutions and companies are prioritizing initiatives that involve the use of advanced composite materials in automobile and aerospace sectors. A 2021 research study highlighted the wide application of Al-based metal matrix composites (AMMCs) in aerospace, automobiles, and other structural usages. AMMCs manufactured using additive methodologies have been noted to have a considerably distinct microstructure and properties when contrasted with traditional methods like casting and powder metallurgy.

Order Now for Fast Delivery of Your Metal Matrix Composite Market Report!

https://www.thebusinessresearchcompany.com/report/metal-matrix-composite-global-market-report

Which Regions Are Making a Mark in the Metal Matrix Composite Market Growth?

North America was the largest region in the metal matrix composite market in 2023. Asia-Pacific was expected to be the fastest region in the forecast period. The regions covered in the metal matrix composite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Metal Matrix Composite Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the metal matrix composite market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Metal Matrix Composite Market Include

1. Metal Matrix Composite Market Executive Summary

2. Metal Matrix Composite Market Segments

3. Metal Matrix Composite Market Size And Template Market Growth Rate

4. Key Metal Matrix Composite Market Trends

5. Major Metal Matrix Composite Market Drivers

……

25. Key Mergers And Acquisitions In The Metal Matrix Composite Market

26. Top Metal Matrix Composite Companies

27. Metal Matrix Composite Market Opportunities And Strategies

28. Metal Matrix Composite Market, Conclusions And Recommendations

29. Appendix

Discover Related Reports by The Business Research Company:

Smart Space Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/smart-space-global-market-report

Massive Open Online Course Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/massive-open-online-course-global-market-report

Artificial Intelligence Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/artificial-intelligence-global-market-report

Learn More About The Business Research Company

The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: