METAL MATRIX COMPOSITES MARKET

 

Market Overview:

               The market for metal matrix composites was valued at USD 396.66 million in 2022 and is anticipated to grow at a CAGR of more than 6% from 2022 to 2027. In 2021, North America held the largest market share. However, it is anticipated that Asia-Pacific would control the market over the projection period. The aerospace and defence industries' growing need for lightweight materials and metal matrix composites' better characteristics to metals are the main market-driving factors. However, the market suffered greatly from the downturn in auto output.

The automotive and locomotive industries historically held the largest market share among end-user industries, but the electrical and electronics industry is anticipated to rule the market throughout the projection period.

Key Market Trends:

         Many different electrical and electronic components and gadgets use metal matrix composites. For instance, power electronic modules use aluminum-graphite composites because of their low density, adjustable coefficient of thermal expansion, and superior thermal conductivity.

Due to their superior thermo-physical characteristics, such as a low coefficient of thermal expansion (CTE), high thermal conductivity, and improved mechanical characteristics, such as a higher specific strength, better wear resistance, and specific modulus, Al and Cu reinforced by SiC are used in a variety of industries.
Dymalloy, a copper-silver alloy matrix containing 55% diamond particles (by volume), is used as a substrate for high-power, high-density multi-chip modules in electronics because of its strong heat conductivity.

More than 70% of the world's electronics are produced in the Asia-Pacific region, where South Korea, Japan, and China are among the producers of different electrical supplies and components for different sectors around the world. In the first nine months of 2021, the Asia-Pacific area produced 32.67 million automobiles overall, an increase of 11% over the corresponding period in 2020.

The country's desire for electric vehicles is projected to be fueled by elements like the sizeable market, growing government assistance, and the availability of online reservations for electric automobiles. The nationwide surge in demand for electric vehicles is expected to increase demand for metal matrix composites. ​

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