The worldwide metal matrix composites (MMC) market produced an income of around USD 228 million in 2012. It is predicted to generate revenue worth about USD 357 million by 2019. The market is projected to rise further at around 6.6 percent CAGR during 2013 to 2019. The worldwide demand for MMCs was estimated at about 5, 946 tons in 2012. Metal matrix composites are compound substances that consist at least two constituents; reinforcement and metal matrix. MMCs are utilized to generate hard-wearing and lightweight parts forground conveyance, thermal/electronics management, defense, aerospace, nuclear, marine, etc.
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Boosting demand for metal matrix composites across these sectors is anticipated to propel the metal matrix composites (MMC) marketahead during the forecast period. Expansion in the industries of passenger and commercial vehicles is also estimated to steer the sales of the market in the coming seven years. Flowing demand for light weight metal constituents with high performance, specifically in the industry of commercial vehicles to enhance fuel effectivity, is also projected to push the metal matrix composites (MMC) market forward in the future.
The in-built features of metal matrix composites (MMC), like improved stiffness, light weight and material strength, increase the utilization of MMCs in the industry of aerospace. This is also predicted to drive the metal matrix composites (MMC) marketahead in the near future. The high manufacturing costs and low yield of these compounds are likely to obstruct the smooth flow of the market. Proposals undertaken by the government and innovations in technologies to endorse material science are predicted to positively impact the metal matrix composites (MMC) market in the years ahead.
The market also faces huge demand from the applications of battery sleeves and radiator panels, power semiconductor packages, printed circuit board heat sinks and microwave modules. The rising use of MMCs across these sectors is also anticipated to propelfurther demand for the metal matrix composites (MMC) market. The worldwide market is sliced in view of three categories. These are consumers, products and geographies.
Ground transportation was the biggest consumer sector of the metal matrix composites (MMC) market in 2013. It is predicted to display similar trends in the yearsahead. The sector of automotives is estimated to experience a growth of ‘above average’ in the future.This is due to augmented demand for lightweight materials in the industry. Thermal/electronics management is likely to continue as the most rapidly expanding sector over the forecast period.
Aluminium was the biggest product sector of the metal matrix composites (MMC) marketin 2014. It captured more than 30 percent of the worldwide demand. This sector is estimated to gain shares through the forecast period. It is due to growing use of aluminium in the industries of aerospace and aircrafts. Refractory metal is predicted to face maximum demand in the seven years to come.
North America leaded the worldwide metal matrix composites (MMC) market in 2013. The region is expected to continuelikewise in the future. The huge size of this region is credited to increased demand for MMCs in the industries of automotives and aerospace in the United States of America. The Asian Pacificmetal matrix composites (MMC) market is likely to experience fast growth.
Information Source: Grand View Research