Market Overview

The market for metamaterials is anticipated to register a CAGR of 24.35% during the forecast period (2019-2024). One of the major factors driving the use of metamaterials is increasing R&D activities for various applications in the aerospace and defense, telecommunication, and consumer electronics end-user industries, among others. Increasing wireless mobile communication and antenna applications are driving the market at a faster pace.

• Among the applications of metamaterials, the antenna and radar segment is estimated to occupy the largest share.
• Among the end-user industries, the aerospace and defense segment is estimated to account for the largest share.
• North America dominated the market across the world, with the largest consumption in 2018.

Scope of the Report

The metamaterials market report includes:

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Key Market Trends

Increase in Usage of Antennas for Communication

• Recently, there has been an increased interest in microwave applications across the telecommunication sector. Metamaterials can be engineered to produce exotic electromagnetic signals. These materials exhibits various refractive properties, such as negative refractive index (NRI) and left-handed material (LHM). For this reason, such materials are indispensable in the manufacture of microwave components, and in the design and manufacture of high-functioning antennas.
• A negatively permeable metamaterial shell is utilized to enclose loop antennas in magnetic induction (MI) communication systems. It has been theoretically proved that a communication range of around 20m can be achieved with acceptable data rates, by using metamaterial-enhanced MI communication systems and pocket-sized loop antenna. Thus, the usage of these materials in remote environments can have significant impact on connectivity.
• The usage of metamaterial antennas have been increasing over the past few years. A company named Kymeta Corporation stated that its sales of Ku-band metamaterial antenna increased in 2018, as compared to the previous years. The demand for such antennas is due to their use in vessels, radar, and special smart phones.
• Using metamaterials in antennas enables an individual to focus six times beyond diffraction limit at 0.38 μm. These metamaterials are used in cell phones to provide antennas, which are five times smaller and have a bandwidth range of 700 MHz - 2.7 GHz.
• Currently, scientists are engaging in the research of wide angle impedance matching (WAIM) technology. It has been proven that metamaterials can be used to achieve superior wide angle impedance for phased array antennas.
• The aforementioned factors are expected to increase the demand for metamaterials, during the forecast period.

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