Increasing demand for Lightweight MMCs to Boost End Use Sector
Posted by Neha Bora on December 3rd, 2019
As per the report by Grand View Research, Inc., the metal matrix composite market is poised to rise to a valuation of USD 433.3 million and is estimated to witness a CAGR of 6.3 % by 2022. Rising demand for strong and lightweight metal matrix composite from the ground transportation end-use sector is anticipated to drive the market in the forecast period. Growing attention on performance improvement in terms of both safety and fuel efficiency is anticipated to drive the metal matrix composite demand from marine, aerospace, and automotive in the years to come.
Increasing manufacturing of electronic equipment is also anticipated to boost the demand for metal matrix composite in the near future. The increasing trend for weight reduction in commercial vehicles and passenger cars might also prove to be a major driving factor to increase the use of these composites in the automotive industry in the forecast period. On the other hand, concerns about recyclability, reparability, complicated manufacturing processes, and high costs of operations are likely to hamper the metal matrix composite in the forecast period.
In March 2018, Society of Automotive Engineers permitted and made available aerospace specification AMS4355, aerospace-grade aluminum metal matrix composite
The emerging trend in the metal matrix composite is the entrance of new market participants and developments by existing manufacturers to address the potential and existing demand of the market. In addition, attention on the growth of high-strength fiber reinforcements has been undertaken on the product growth front. Product development, business process improvement, and vertical integration have been the major focus of the market manufacturers to influence their market profitability and footprint.
Access Press Release of Metal Matrix Composite Market @ https://www.grandviewresearch.com/press-release/global-metal-matrix-composites-market
Geographically, North America is one of the prominent regions in the metal matrix composite and is estimated to witness a high demand. It is anticipated to remain the largest regional market over the forthcoming period on account of increasing demand from the automotive and aerospace industries in the U.S.
Leading players effective in the metal matrix composite market include Plansee SE, Materion Corporation, 3M, Sandvik AB, Sumitomo Electric Industries, Ltd., Hitachi Metals, Ltd, CPS Technologies Corporation, Deutsche Edelstahlwerke GmbH, GKN PLC, 3A Composites International AG.
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About the AuthorNeha Bora
Joined: September 16th, 2019
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