Themetamaterials marketis projected to reach USD 4.42 billion by 2027, according to a new report by Reports and Data. The market is driven by crucial factors such as increasing demand for new technologies that can be used in applications such as absorbers, antennas, and superlenses instead of traditional materials to boost the performance of machinery and the reliability of processes across applications.
Metamaterials are uniquely engineered synthetic structures that have superior electromagnetic properties. Such products find a vast potential for use in large end-use verticals such as automotive, medical, consumer electronics, and others. The market is driven mainly by demand from telecommunications applications because of the materials potential to be used in devices such as radars
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Further key findings from the report suggest
- The aerospace and defense market is emerging as the largest end-use segment in terms of revenue, and this domination is projected to continue in the forecasting period. This can be due to the fast development of this vertical end-user in core economies such as the United States, Germany, the U.K., China, India, and Russia.
- The antenna segment is expected to witness steady growth over the projected period, primarily due to increased demand for specialized antennas in applications in defense, aerospace, and telecommunications.
- In recent years, all of the significant market players have invested heavily in RD initiatives, leading to the invention of several innovative products. Major players aim to enhance their product portfolio by strategic mergers and acquisitions of small and medium-scale companies. In the coming years, therefore, an intense rivalry among players is expected.
- In August 2019, Continental Precious Minerals Inc. entered into an amalgamation deal with Metamaterial Technologies Inc., a smart materials and photonics company headquartered in Nova Scotia, and the Continental Precious Minerals Subco Inc.
- Key participants include Metamaterial Technologies, Inc., MetaShield LLC., Kymeta Corporation, MediWise Ltd., Phoebus Optoelectronics LLC, JEM Engineering, LLC, Multiwave Technologies AG, Echodyne, Inc., NKT Photonics AS and Fractal Antenna Systems Inc., among others.
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Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Electromagnetic
- Tunable
- Photonic
- Frequency Selective Surface
- Terahertz
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Absorber
- Antenna
- Cloaking devices
- Super lens
- MRI
- X-ray
- Others
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Significant Features that are under Offering and Key Highlights of the Reports:
Detailed overview of the Metamaterial Market
Changes in industry market dynamics
Detailed market segmentation by type, application, etc.
Historical, current and projected market size in terms of quantity and value
Recent industry trends and developments
Competition situation of Metamaterial Market
Key companies and product strategies
Potential niche segment/region showing promising growth.
Finally, the Metamaterial Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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