Metal Matrix Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Metal Matrix Composites Market is Segmented by Type (Nickel, Aluminum, Refractory, and Other Types), Fillers (Silicon Carbide, Aluminum Oxide, Titanium Carbide, and Other Fillers), End-user Industry (Automotive and Locomotive, Electrical and Electronics, Aerospace and Defense, Industrial, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecast for all the above segments in revenue (USD million).

Metal Matrix Composites Market Size

Metal Matrix Composites Market Summary
Study Period: 2017-2027
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: > 6 %

Major Players

Metal Matrix Composites Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Metal Matrix Composites Market Analysis

The metal matrix composites market was estimated to be USD 396.66 million by the end of this year and is expected to register a CAGR of more than 6% during the forecast period.

During the pandemic period in 2020 due to COVID-19, there were nationwide lockdowns and social distancing mandates which led to supply chain disruption and the closure of various manufacturing industries. This impacted the market negatively. However, in the post-pandemic period, the market is getting back on track.

  • Increasing demand for lightweight materials in the aerospace and defense industry and superior properties of metal matrix composites over metals are the major driving factors for the market.
  • However, the complicated manufacturing process is likely to hinder the market growth.
  • Growing use in the locomotive industry and increasing adoption of electric vehicles are expected to provide new opportunities for the market.
  • North America accounted for the highest market share. However, Asia-Pacific is projected to dominate the market during the forecast period.

Metal Matrix Composites Industry Segmentation

Metal matrix composites (MMCs) are composite materials containing at least two constituent parts, a metal part, and a material or a different metal part. The metal matrix is reinforced with other materials to improve strength and wear. Most metals and alloys are used to make good matrices. The metal matrix composites market is segmented by type, filler, end-user industry, and geography. By type, the market is segmented into nickel, aluminum, refractory, and other types. On the basis of fillers, the market is segmented into silicon carbide, aluminum oxide, titanium carbide, and other fillers. By end-user industry, the market is segmented into automotive and locomotive, electrical and electronics, aerospace and defense, industrial, and other end-user industries. The report also covers the sizes and forecasts for the metal matrix composites market in 16 major countries across various regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Other Types
Silicon Carbide
Aluminum Oxide
Titanium Carbide
Other Fillers
End-user Industry
Automotive and Locomotive
Electrical and Electronics
Aerospace and Defense
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Metal Matrix Composites Market Trends

This section covers the major market trends shaping the Metal Matrix Composites Market according to our research experts:

Electrical and Electronics Segment to Register Fastest Growth

  • Metal matrix composites are used in various electrical and electronic components and devices. For instance, aluminum-graphite composites are employed in power electronic modules due to their excellent thermal conductivity, tunable coefficient of thermal expansion, and low density.
  • Al and Cu reinforced by SiC are used in various industries due to their excellent thermo-physical properties, such as low coefficient of thermal expansion (CTE), high thermal conductivity, and improved mechanical properties, such as higher specific strength, better wear resistance and specific modulus.
  • Because of its high heat conductivity, dymalloy, a copper-silver alloy matrix containing 55% diamond particles (by volume), is utilized as a substrate for high-power, high-density multi-chip modules in electronics.
  • In addition, PRMMCs (particulate reinforced metal matrix composites), with a high-volume fraction, have a wide range of applications in the electronics industry, including radiator panels, power semiconductor packages, microwave modules, battery sleeves, black box enclosures, printed circuit board heat sinks, and others.
  • According to the global electronics statistics published by the Japan Electronics and Information Technology Industries Association (JEITA), the Production by the global electronics and IT industries is expected to grow 11% year on year in 2021 to reach USD 3,360.2 billion, with 2022 production too lifting 5% to USD 3,536.6 billion.
  • The production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices will continue to spark the demand for electronic components, which is expected to boost the demand for metal matrix composites. ​
  • Owing to all the factors mentioned above, the demand for electrical and electronic equipment is likely to increase the demand in the market studied during the forecast period.
Metal Matrix Composites Market, Revenue CAGR (%), by End-user Industry, Global, 2022- 2027

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific accounts for more than 70% of global electronics production, with countries like South Korea, Japan, and China involved in manufacturing various electrical components and supplies to various industries globally. 
  • The Asia-Pacific region recorded 32.67 million of total automotive production in the nine months of 2021, an increase of 11% from the same period in 2020.
  • Overall, the consistent growth in demand in countries like China, India, Japan, and South Korea is likely to boost the metal matrix composites market in the region.
  • Industrial production in China increased by 4.3% year-on-year in December 2021. ​Thus, the expansion of the industrial sector in the country is anticipated to benefit the growth of the metal matrix composites market during the forecast period.​
  • According to China's data from the Ministry of Industry and Information Technology, the electronic information manufacturing sector maintained steady growth in the first five months of 2022. The value-added output of electronic information manufacturers with annual operating revenue of at least CNY 20 million (about USD 3 million) expanded 9.9 percent year-on-year during the period.
  • The government launched the PLI scheme, which is likely to offer incentives as manufacturers increase production in India with USD 5.5 billion available over five years. This is likely to boost the production of electronics in the country, thus benefiting the demand for metal matrix composites.​
  • In the aerospace sector, according to the India Brand Equity Foundation (IBEF), the country's aviation industry is expected to witness INR 35,000 crore (USD 4.99 billion) investment in the next four years.
  • Moreover, in the first four months of 2022, the production by the Japanese electronics industry accounted for JPY 3,656.44 billion (USD 32.60 billion), registering a growth rate of around 0.2% compared to the same period in 2021.
  • The factors mentioned above are likely to ascend the demand for metal matric composites across the application industries in Asia-Pacific.
Metal Matrix Composites Market, Growth Rate by Region, 2022-2027

Metal Matrix Composites Industry Overview

The global metal matrix composites market is partially fragmented in nature, with the presence of a large number of global and local players in the industry. The major players in the market include GKN Sinter Metals Engineering GmbH, Materion Corporation, 3M, Sumitomo Electric Industries Ltd, and CPS Technologies Corporation, among others.

Metal Matrix Composites Market Leaders

  1. Materion Corporation.

  2. GKN Sinter Metals Engineering GmbH

  3. 3M

  4. CPS Technologies Corp.

  5. Sumitomo Electric Industries, Ltd.

*Disclaimer: Major Players sorted in no particular order

Metal Matrix Composites Market  Concentration

Metal Matrix Composites Market News

  • In January 2022, Plansee Group signed a definitive agreement to acquire Mi-Tech Tungsten Metals. The acquisition will help Plansee Group expand its market position for tungsten products in North America.
  • In March 2021, Alvant, a leading specialist in the manufacture of aluminum matrix composites (AMC) materials, signed a Memorandum of Understanding for a strategic partnership with 3M to advance metal matrix composite technology for real-world applications.

Metal Matrix Composites Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Lightweight Materials in Aerospace and Defense Industry

      2. 4.1.2 Superior Properties of Metal Matrix Composites over Metals

    2. 4.2 Restraints

      1. 4.2.1 Compilicated Manufacturing Process

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 Nickel

      2. 5.1.2 Aluminium

      3. 5.1.3 Refractory

      4. 5.1.4 Other Types

    2. 5.2 Fillers

      1. 5.2.1 Silicon Carbide

      2. 5.2.2 Aluminum Oxide

      3. 5.2.3 Titanium Carbide

      4. 5.2.4 Other Fillers

    3. 5.3 End-user Industry

      1. 5.3.1 Automotive and Locomotive

      2. 5.3.2 Electrical and Electronics

      3. 5.3.3 Aerospace and Defense

      4. 5.3.4 Industrial

      5. 5.3.5 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.4.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.4.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Spain

        6. Rest of Europe

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3A Composites

      2. 6.4.2 3M​ (Ceradyne Inc.)

      3. 6.4.3 ADMA Products Inc.

      4. 6.4.4 CPS Technologies Corp.

      5. 6.4.5 DAT Alloytech

      6. 6.4.6 Denka Company Limited

      7. 6.4.7 GKN Sinter Metals Engineering GmbH

      8. 6.4.8 Hitachi Metals Ltd

      9. 6.4.9 Materion Corporation

      10. 6.4.10 MTC Powder Solutions AB

      11. 6.4.11 Plansee Group

      12. 6.4.12 Sumitomo Electric Industries Ltd

      13. 6.4.13 Thermal Transfer Composites LLC

      14. 6.4.14 TISICS Ltd

    5. *List Not Exhaustive

    1. 7.1 Growing Use in Locomotive Industry

    2. 7.2 Increasing Adoption of Electric Vehicles

**Subject to Availability
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Metal Matrix Composites Market Research FAQs

The Metal Matrix Composites Market market is studied from 2017 - 2027.

The Metal Matrix Composites Market is growing at a CAGR of >6% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Materion Corporation. , GKN Sinter Metals Engineering GmbH, 3M, CPS Technologies Corp., Sumitomo Electric Industries, Ltd. are the major companies operating in Metal Matrix Composites Market.

Metal Matrix Composites Industry Report

Statistics for the 2023 Metal Matrix Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Metal Matrix Composites analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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