Technological growth of Metal Matrix Composite Market
Metal matrix composite (MMC) is formed by reinforcing fibers or particles, such as silicon carbide, alumina, and graphite, with a metal matrix. The metal matrices are based on aluminum, magnesium, and others. The properties of the composite are dependent on the length and alignment of the reinforced fiber. The global carbon capture, utilization, and storage market size is expected to grow from USD 467 million in 2020 to USD 787 million by 2025, at a CAGR of 11.0% during the forecast period.
Over the past years, companies have strengthened their position in the global metal matrix composite market by adopting various strategies and investing a significant amount towards R&D in order to create products that are complied with the strict regulations imposed by serospace & automotive sectors. For instance, in 2018, Materion Corporation made an announcement that the Society of Automotive Engineers - Aerospace Material Specification Nonferrous Alloys Committee (SAE-AMS) has approved AMS4369 and AMS4379 specifications for their MMC products, i.e. SupremEX 225XF and SupremEX 225XE respectively. With these two added specifications, Materion now has a four AMS specifications for its SupremEX product line, allowing engineers to use the combination of properties by combining ultrafine silicon carbide reinforcement with aerospace aluminum alloys. These specifications also allows ist MMCs for aero-engine components and aircraft structures , satellite structures, optical systems and automotive pistons.
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The key players in the market include Materion Corpoation (US), CPS Technologies Corporation (US), GKN Sinter Metals (US), 3M (US), Destsce Edelstaslwerke GmbH (Germany), Metal Matrix Cast Composites, LLC (US), Plansee SE (Austria), CeramTec (Germany), Sandvik AB (Sweden), and Ferrotec Corporation (US) among others. COVID-19 has majorly affected the commercial sectors, including automotive & transportation, aerospace & defense and others. Reduced demand from several OEMs and disruption in the supply chain, have compelled the manufacturing companies to operate at partial capacities and reduced staff.
Related Reports:
Metal Matrix Composite Market by Matrix Type (Aluminum MMC, Magnesium MMC, Copper MMC, Super Alloys MMC), Reinforcement Type, Production Technology, Reinforcement Material, End-Use Industry, and Region – Global Forecast to 2025
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