Metal matrix composites (MMC) are composite materials consisting of a metal and a secondary ingredient which may be a different metal or non-metallic material such as ceramic or organic compound. The global metal matrix composites market growth is closely correlated with the performance of its end-use industry, and more specifically global automotive market.
The key characteristics associated with metal matrix composites is provision of superior mechanical and physical properties such as tensile strength, resistance to fire and moisture and can be used over a wide temperature range. Metal matrix composites also offer the possibility to tailor these properties to meet specific requirements, which makes this material type unique in comparison with its counterparts.
Apart from automotive industry,metal-matrix composites are either in use or prototyping for the durable and lightweight parts in a variety of end use sectors such as electronics/ thermal management, aerospace, defense and marine. The rising demand from these sectors is expected to sustain the demand of metal matrix composites in forthcoming years during the forecast period.
The increasing need of high-performance composites material for framing of exterior chassis in aerospace and marine industry is considered to be the key driver of the metal matrix composites market. The increasing trend for weight reduction in passenger cars and commercial vehicles is also expected to enhance the metal matrix composites usage in the automotive industry.
The electronics industry is another prominent end use sector which is expected to drive the metal matrix composites market as well. In terms of opportunity, the defense sector is expected to facilitate the use of metal matrix composites in military specific vehicles and aircrafts.
The key trends witnessed in the metal matrix composites market include arrival of market entrants as well as expansions by existing manufacturers to address the existing and potential demand of the market. The market has been found to be competitive in terms of pricing and the operating rate for manufacturers. Emphasis on development of high-strength fiber reinforcements has been undertaken on the product development front.
Vertical Integration, business process improvement, product development and has been the key focus of metal matrix composite manufacturers to leverage their market footprint and profitability.
The high manufacturing costs along with limited technological expertise for metal composites are however expected to pose a challenge for the growth of market during the forecast period.
Examples of some of the market key participants in the global metal matrix composites market include Materion Corporation, GKN PLC, Sandvik AB, 3M, Plansee SE, Hitachi Metals, Ltd., Sumitomo Electric Industries, Ltd., Deutsche Edelstahlwerke GmbH, CPS Technologies Corporation, and 3A Composites, among others.
The global metal matrix composites market can be segmented on the basis of product type, end-use, and region.
In terms of product type, metal matrix composites is segmented into
On the basis of end-use industry, global metal matrix composites market is segmented into
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