Expert Market Research’s new report titled ‘Global Metamaterials Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global metamaterials market, assessing the market based on its segments such as products, applications, end use and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): USD 238.3 billion
- Forecast CAGR (2021-2026): 28%
The metamaterials market is driven by the aerospace and defense sector. The growing demand for metamaterials can be attributed to the military’s stringent security standards. The advancement of drone and warfare technologies has increased the demand for metamaterials for tracking purposes. Additionally, metamaterials facilitate secure military communication at different frequencies. Therefore, metamaterials become necessary in the aerospace and defense industry. Meanwhile, the growing application of the product in the medical sector as imaging devices or sensors for disease detection is likely to give impetus to the market. Rising defense budgets of the United States, China, Russia, and India are expected to drive the market growth over the forecast period. In the post-COVID days, as the various sectors recover from the negative impacts of the pandemic, the product is expected to see an increase in demand, backed by government efforts.
Industry definition and major segments
Metamaterials are artificially structured materials engineered to possess properties not found in natural materials. These properties are distinctive and unique because they come from the structure of the constituent materials infused into it, rather than from its components.
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The metamaterials market, on the basis of product, can be segmented into:
- Frequency Frequently Selective Surface
On the basis of application, the market can be categorized into:
- Concealment device
On the basis of end-use, the market can be segmented into:
- Aeronautics and Defense
- Consumer electronics
- Energy and Power
Regional markets for metamaterials include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Among these, North America accounts for a substantial share of the global metamaterials market.
Advances in 5G, communications satellites and fiber technologies are expected to boost the metamaterials industry, especially the antenna segment. The market is further aided by the growing trend towards miniaturization of telecommunications equipment, as well as the increasing use of metamaterials due to the growing interest in multi-band antennas. Furthermore, increased penetration of smartphones and the advent of 4G and 5G technologies in emerging economies are expected to increase the growth of the industry over the forecast period.
Main market players
Major market players are Metamaterial Technologies Inc., Metaboards Nahsai, Inc. and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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