Metal Matrix Composite Global Market 2024 To Reach $0.77 Billion By 2028 At Rate Of 6.6%

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, July 19, 2024 /EINPresswire.com/ -- The metal matrix composite market has experienced robust growth in recent years, expanding from $0.56 billion in 2023 to $0.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid growth in the automotive industry, increasing demand for lightweight materials in the aerospace and defense industry, and an increase in government support.

Strong Future Growth Anticipated
The metal matrix composite market is projected to continue its strong growth, reaching $0.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increased demand across various applications, increased demand for powder metallurgy, and rising demand for aluminum components.

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Growth Driver Of The Metal Matrix Composite Market
The growth of the automotive industry is expected to fuel the growth of the metal matrix composite market in the coming years. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles. Metal matrix composites are used to lower vehicle weight and enhance the efficiency of automobiles.

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Metal Matrix Composite Market Major Players And Market Trends
Key players in the metal matrix composite market include Materion Corporation, CPS Technologies Corporation, CeramTec, Ferrotec Holdings Corporation, DWA Aluminum Composites USA, GKN Sinter Metals, 3M, Plansee SE, Sandvik, Thermal Transfer Composites LLC, Sumitomo Electric Industries, Ametek, Denka China Baowu Group, NANJING YUNHAI SPECIAL METALS Co. Ltd., QingHai Salt Lake Industry Co. Ltd., Uyemura & Co. Ltd.
The growth in technological advancements is shaping the metal matrix composite market. Major institutes and companies are focusing on projects involving advanced composite materials for the automotive and aerospace industries.

Metal Matrix Composite Market Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the metal matrix composite market in 2023.

Metal Matrix Composite Market Definition
Metal matrix composites (MMCs) are a class of materials (metals, alloys, or intermetallic compounds) that have been reinforced with particles, whiskers, or continuous fibers. MMCs are excellent substitutes for conventional materials owing to their hardness, specific strength, and creep resistance.

Metal Matrix Composite Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Metal Matrix Composite Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on metal matrix composite market size, metal matrix composite market drivers and trends, metal matrix composite market major players, metal matrix composite competitors' revenues, metal matrix composite market positioning, and metal matrix composite market growth across geographies. The metal matrix composite market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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