Metal matrix composite (MMC) is formed by reinforcing fibers or particles, such as silicon carbide, alumina, and graphite, with a metal matrix. The metal matrices are based on aluminum, magnesium, and others. The properties of the composite are dependent on the length and alignment of the reinforced fiber. The global metal matrix composite market size is projected to grow from USD 467 million in 2020 to USD 787 million by 2025, at a CAGR of 11.0% during the forecast period.
Aluminum MMC led the metal matrix composite market in the matrix type segment.
Aluminum MMC is the most widely used matrix type of metal matrix composite due to its superior properties such as lightweight, environmental resistance, and superior mechanical properties. Additionally, various reinforcements such as boron continuous fibers, Aluminum MMC is comparatively cheaper than other types of MMC products. It finds applications in various end-use industries, such as automotive & transportation, aerospace, and electrical & electronics. Some of the applications of aluminum MMCs include automotive engine moving parts such as piston pins and connecting rods.
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Automotive & transportation accounted for the largest market share in the global metal matrix composite market in terms of value.
Automotive & transportation is the dominating end-use industry in the carbon capture, utilization, and sequestration market. This is due to the growing penetration of MMCs in applications, such as automotive brake pads, brake drums, rail brake discs, and others, as they offer superior properties. The increased demand for automotive and passenger vehicles across the globe is expected to drive the demand for high-performance MMCs in the transportation sector. Similarly, increased applications of MMCs in railway coaches and locomotives help to reduce maintenance costs and power consumption. This is expected to boost the MMC market in this segment.
COVID-19 outbreak has imposed a very disastrous effect on the automotive industry. Automobile manufacturers and suppliers across the world are struggling to continue production after the shutdown of manufacturing plants in most of the countries. With the production crisis, automakers also have to deal with decreased consumer demand in markets, such as the US, China, and Japan, in 2020.
North America is expected to account for the largest market share in the metal matrix composite market during the forecast period.
North America held the largest share of the metal matrix composite market, and the trend is expected to remain the same during the forecast period. This high market share is attributed to the presence of well-established automotive & transportation and aerospace & defense industries. COVID-19 has adversely affected the entire globe that has led to reduced demand for composites from various end-use industries. The European automotive and North American aerospace industry is severely affected by the pandemic situation. Over USD 200 billion of market value has already been lost in the US aerospace industry. As per ACEA (European Automotive Manufacturers Association), due to factory shutdown
The key players in the global carbon capture, utilization, and sequestration market a Materion Corpoation (US), CPS Technologies Corporation (US), GKN Sinter Metals (US), 3M (US), Destsce Edelstaslwerke GmbH (Germany), Metal Matrix Cast Composites, LLC (US), Plansee SE (Austria), CeramTec (Germany), Sandvik AB (Sweden), Ferrotec Corporation (US), and Schlumberger Limited (US).
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