This market research report includes a detailed segmentation of the global metal matrix composites market by type (aluminum, nickel, refractory, and others), application (thermal, aerospace, ground transportation, and others), and geography (APAC, North America, and ROW). It also includes an insightful analysis of the leading vendors in the market such as 3M, CPS, GKN, Materion, Planese, and Sumitomo Electric USA.
Technavio has released a new market research report on the global MMCs market, which is expected to grow at a CAGR of around 6% between 2016 and 2020. Since MMCs are used to manufacture turbine and combustion engine components, driveshafts, and disc brakes and brake parts, an increase in its demand from the transportation and thermal management sectors will result in market growth during the predicted period. North America accounts for 34% of the total market share, The upgrading, replacing, and expanding of transformers and transmission lines is expected to propel the demand for MMCs in the region during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Nanocomposites are increasingly gaining popularity in this market as they are recyclable and can be processed at low cost for applications like drug delivery. The increasing usage of nanocomposites in the aerospace and defense industries coupled with its biomedical applications will bolster market growth during the predicted period,” says Chandrakumar BJG, Lead Analyst, Chemicals & Materials, Technavio Research
MMCs are increasingly being used in the manufacturing of vehicles and their components, as these materials can reduce the weight of vehicles, thereby enhancing their fuel efficiency. The physical, mechanical, and thermal properties of MMCs can be customized using heat treatment, forging, casting, rolling, and extrusion. Moreover, MMCs are used for manufacturing automobile components like disc brakes and turbines.
The key vendors in the global MMCs market are 3M, CPS, GKN, Materion, Planese, and Sumitomo Electric USA. This market is highly consolidated as the leading vendors account for more than half of the total market share. To survive and succeed in this market, the vendors have to invest in developing new technologies and have to stay abreast of emerging technologies that could have a bearing on their product lines.
A more detailed analysis is available in the Technavio report, Global MMCs Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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