Market Size of Metal Matrix Composites Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 457.16 Million |
| Market Size (2029) | USD 626.07 Million |
| CAGR (2024 - 2029) | 6.49 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Metal Matrix Composites Market Analysis
The Metal Matrix Composites Market size is estimated at USD 457.16 million in 2024, and is expected to reach USD 626.07 million by 2029, growing at a CAGR of 6.49% during the forecast period (2024-2029).
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.
