Metamaterial Market Size Worth .35 Billion By 2025 | CAGR: 17.8%Posted by Nicky Arora on April 26th, 2021 The global metamaterial market size is expected to reach USD 1.35 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 17.8% over the forecast period, owing to Increasing demand from various end-use industries, including consumer electronics and medical, is driving the growth of the market. In addition, growing application scope in the aerospace & defense industry is expected to further fuel the demand growth during the forecast period.
Metamaterials are composite materials specially engineered to have properties that are not found in nature and thus is used in formulation processes across various end-use industries. The key end-use industries, include aerospace & defense, medical, automotive, consumer electronics, and energy & power.
In terms of revenue, the aerospace & defense accounted for the largest share of the industry revenues in 2016 and is anticipated to continue its dominance over the forecast period, projected to grow at a CAGR of 15.2%. The increasing need for advanced telecommunications and safety devices in the aerospace and automotive industries is expected to drive the industry growth.
Different types of metamaterials are used in the different application segments depending upon the requirement of the end use verticals. Metamaterials are also being used in the medical and energy & power industries, owing to its superior properties such as the ability to manipulate electromagnetic waves and provide better imaging in medical equipment.
The demand for metamaterials is expected to be primarily driven by the growth of the end-use verticals in the Asia Pacific region. The growth of the consumer electronics and aerospace & defense industries in the region is likely to have positive impacts on the overall industry growth during the forecast period.
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Grand View Research has segmented the global metamaterial market on the basis of product, application, end use, and region:
Metamaterial Product Outlook (Revenue, USD Million, 2014 - 2025)
Metamaterial Application Outlook (Revenue, USD Million, 2014 - 2025)
Metamaterial End-use Outlook (Revenue, USD Million, 2014 - 2025)
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