New York August 06, 2020 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “Metal Matrix Composite Market Size, Share & Trends Analysis Report by End Use, by Product, by Region and Segment Forecasts, 2020 – 2027” – https: // www .reportlinker.com / p05949288 /? utm_source = GNW
Metal Matrix Composites Market Growth & Trends
The global metal size of the composite market is expected to reach $ 558.5 million by 2027, recording a CAGR of 6.4%. Rising concerns about environmental degradation and rising levels of carbon dioxide emissions and pollutants have created the need to replace conventional dense materials with high-performance and lightweight materials in vehicle, space and other applications.
Thus, the growing focus on performance improvement, in terms of fuel efficiency and safety, is expected to be the most important factor increasing product demand during the forecast period. These composites offer excellent strength and rigidity, higher operating temperatures and improved wear resistance, due to which they are widely used in various end use industries.
In addition, increased R&D spending and extensive support offered by various governments in terms of monetary funds and joint ventures (public-private partnerships) are expected to help manufacturers develop newer technologies and superior products. This is expected to have a positive impact on the market for metal matrix composites (MMC).
However, the high manufacturing costs, the low yield and complex manufacturing methods are expected to pose a challenge for market growth in the coming years.
Highlights in the market for metal matrix composites
• The aluminum product segment, in terms of volume, is expected to experience a significant growth of a CAGR of 6.3% due to the growing demand for lightweight materials with improved mechanical strength in the automotive and construction sectors
• The aerospace segment, in terms of revenue, is expected to register a healthy CAGR of 6.7% due to increased use of MMCs in applications including interior, aircraft lines and seat components
• The end-user segment electronics / thermal management is expected to register the fastest CAGR from 20020 to 2027 due to increased demand for accurate and efficient components in various electronic products
• Asia and the Pacific will be the fastest growing regional market during the forecast period due to the growing transport, aerospace, construction and electronics industries in countries such as China, India and Japan.
• In July 201
Read the full report: https://www.reportlinker.com/p05949288/?utm_source=GNW
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