An increase in the use of Magnesium Metal Matrix Composite for the manufacturing of structural aerospace composite parts with better dimensional stability and high precision will be a major factor propelling the market growth.

Magnesium Metal Matrix Composite Market Size – USD 348.1 Million in 2019, Growth - CAGR of 6.0%, Trends – Potential opportunities in new applications like robots and high-speed machinery.

The global Magnesium Metal Matrix Composite Market is forecast to reach USD 542.8 Million by 2027, according to a new report by Reports and Data. Magnesium Metal Matrix Composite Market is expected to witness significant growth because of a positive application outlook in automotive, space equipment, and electronics. It comprises of metal and ceramic or organic compounds with mechanical, physical, and thermal properties, which can be customized by forging, rolling, heat treatment, and casting.

Carbon, silicon carbide, and ceramic fibers are embedded in alloy or metal and possess better electrical thermal conductivity. It is used as outgassing and radiation resistance owing to properties like no moisture absorption, and it can withstand a wide range of temperatures.

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Top Companies: CPS Technologies Corporation, Materion Corporation, GKN Sinter Metals, Metal Matrix Cast Composites, 3M, Deutsche Edelstahlwerke GmbH, Sandvik AB, Ferrotec Corporation, Plansee Se, and Ceramtec, among others. 

Further Key Finding from the Report Suggestion:

• Magnesium Metal Matrix Composite material has a low thermal expansion coefficient and high thermal conductivity than aluminum and copper, thereby promoting its use in semiconductor manufacturing. Metal matrix composite protects devices from radiofrequency and thermal stress and has wide applications in the electronic packing system.
• In Europe, the Magnesium Metal Matrix Composite market is driven by Germany, France, and the U.K. and is expected to witness steady growth. An increase in consumer spending on healthcare and automobile sector may drive regional growth.
• Among the regional segment of the metal matrix composite market, North America is leading the market at present with 34.8% of the global market revenue. Asia-Pacific is expected to register the highest CAGR of 6.4% over the forecasted period.
• The robotic application may witness favorable gains over the forecasted period. The global industrial robotic market may exceed over USD 80 billion by 2024. Magnesium Metal Matrix Composite have excellent mechanical strength, high temperatures resistance, lightweight, and better wear tear resistance makes them a suitable material for robot construction.
• Among the product segment of the metal matrix composite market, the refractory metal matrix is presently leading the market, and it will continue to dominate with an estimate to register the highest CAGR of 6.2% over the forecasted period.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Metal Matrix Composite market is segmented into:

Product Outlook (Revenue, USD Billion; 2017-2027)

• Magnesium Metal Matrix Composite
• Refractory Metal Matrix Composite
• Others

Production Technology Outlook (Revenue, USD Billion; 2017-2027)

• Liquid Metal Infitration
• Powder Metallurgy
• Casting
• Depositions Techniques

 End-User Outlook (Revenue, USD Billion; 2017-2027)

• Ground Transportation
• Thermal Management
• Aerospace
• Industrial
• Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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