An increase in the use of metal matrix composites for the manufacturing of structural aerospace composite parts with better dimensional stability and high precision will be a major factor propelling the market growth.
New York, June 08, 2020 (GLOBE NEWSWIRE) -- The global metal matrix composites market is forecast to reach USD 542.8 Million by 2027, according to a new report by Reports and Data. Metal Matrix Composites Market is expected to witness significant growth because of a positive application outlook in automotive, space equipment, and electronics. It comprises of 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 alloy or metal and possess better electrical & thermal conductivity. It is used as outgassing and radiation resistance owing to properties like no moisture absorption, and it can withstand a wide range of temperatures.
Metal matrix composites improve automobile fuel efficiency and are light in weight. Rising consumer concerns regarding increasing oil prices have led to an increase in fuel-efficient vehicle demand and hence boosting the metal matrix composites demand. Metal matrix composites have greater tensile strength as compared to aluminum, steel, and reinforced metal, which may influence brake rotor manufacturing and automotive & turbines combustion engine. Toyota, Ford, and Honda are using an aluminum matrix to improve car durability and functionality.
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Aluminum metal matrix composites increase fatigue resistance & reduce thermal expansion leading to wide application scope in passenger, lightweight & heavy vehicles. Aluminum reinforced composite are popularly used in car face & clutch plate assembly and crankshaft due to excellent heat, abrasion resistance, and fatigue properties. Porsche uses MMC in cylinder sleeves in the 911 model & Boxster. Flourishing the automobile sector because of an increase in consumer spending on automotive may drive the metal matrix composites market growth.
The COVID-19 impact:
The COVID-19 outbreak has impacted the global economy altogether. Closed foundries and canceled events in the metal industry is not spared by the rising coronavirus infections from China. Due to the growth in infectious disease, there has been cancellation of international trade. The lockdown in several regions has severely impacted the Metal Matrix Composite Market around the world. Moreover, major players like the Ferrotec group sending its workers to quarantine (those who require) and working with reduced workforce strength will negatively impact the flourishing metal matrix composite market.
Further key findings from the report suggest
- Metal matrix composites material has a low thermal expansion coefficient and high thermal conductivity than aluminum and copper, thereby promoting its use in semiconductor manufacturing. Metal matrix composite protects devices from radiofrequency and thermal stress and has wide applications in the electronic packing system.
- In Europe, the Metal matrix composites market is driven by Germany, France, and the U.K. and is expected to witness steady growth. An increase in consumer spending on healthcare and automobile sector may drive regional growth.
- Among the regional segment of the metal matrix composite market, North America is leading the market at present with 34.8% of the global market revenue. Asia-Pacific is expected to register the highest CAGR of 6.4% over the forecasted period.
- The robotic application may witness favorable gains over the forecasted period. The global industrial robotic market may exceed over USD 80 billion by 2024. Metal matrix composites have excellent mechanical strength, high temperatures resistance, lightweight, and better wear & tear resistance makes them a suitable material for robot construction.
- Among the product segment of the metal matrix composite market, the refractory metal matrix is presently leading the market, and it will continue to dominate with an estimate to register the highest CAGR of 6.2% over the forecasted period.
- Key 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 Ceramtec, among others.
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For the purpose of this report, Reports and Data have segmented into the 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
- Powder Metallurgy
- Depositions Techniques
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Ground Transportation
- Thermal Management
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/metal-matrix-composite-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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