The metamaterial market was valued at USD 305 million in 2021 and is projected to reach USD 1,457 million by 2026. It is expected to grow at a CAGR of 36.7% during the forecast period. The variety in design functionalities, anti-laser coating application, and developments in radar and LiDAR for autonomous vehicles, the use of metamaterials in solar power systems, metamaterial-based radar for drones, and advancements in 5G are the key factors driving the growth of metamaterial market.
Kymeta Corporation (US), Metamaterial Technologies Inc. (Canada), Metamagnetics (US), Jem Engineering (US), Teraview (UK), Echodyne Inc. (US), Multiwave (Switzerland), Nanohmics Inc. (US), Metashield LLC (US), and Mediwise (UK) are the key players in the metamaterial market. These top players have strong portfolios of metamaterials and related applications in end-use verticals.
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Kymeta Corporation is a company spun off from Intellectual Ventures. It is developing a thinner, flatter, and lighter satellite antenna technology, and commercializing a software-enabled metamaterial-based electronic beamforming antenna for satellite communications. The company’s mTenna suite of satellite antennas comprises ultra-thin antennas that use a holographic approach to electronically acquire, steer, and lock a beam to any satellite. These flat, lightweight, and cost-effective satellite tracking antennas are designed to work seamlessly for communications in high-volume markets. Kymeta Corporation is one of the leading industry players in the development of satellite antenna technology. The company operates in a dynamic environment driven by innovation. It has a dedicated business segment—the Antenna segment—that offers high-bandwidth satellite connectivity on land, sea, and air. In the last three years, the company has entered into partnerships with other key industry players such as Lepton Global Solutions LLC, Cubic Telecom, Turksat, CopaSat LLC, and Nomad Global Communication Systems (GCS) for the expansion of the Antenna segment. Through this partnership, the company is fostering its growth by expanding its innovation and technological leadership, and through diversification of activities into new markets and regions.
Metamaterial Technologies, Inc. (MTI) manufactures smart materials and photonics-based devices. The company was established in London (UK) in 2010 and shifted its head office to Halifax, Nova Scotia, Canada in 2011. It has offices in London and Pleasanton, California (US). Metamaterial Technologies specializes in metamaterial research, nanofabrication, and computational electromagnetics. It has developed a patented platform technology using a variety of smart materials. The company develops a wide array of metamaterial products used in applications across several verticals, including aerospace & defense, medical, and power & energy. Metamaterial Technologies has 54 granted and 35 pending patent applications, including 25 in the US and 64 in 18 other countries. The company continues to build strong relationships with highly experienced advisors, particularly in the security and defense vertical, so that the company can direct its research experience to solve real problems and, in turn, become a market leader. It has a growing patent portfolio with three core technologies: holography, lithography, and wireless sensing. The company is developing metamaterial products for various verticals, such as aerospace & defense, medical, power & energy, and automotive. For innovations, the company relies on its 27-person application development team (which includes 13 Ph.D. scientists), corporate partners, government, and other third-party funded programs. The company is focusing on collaborations and partnerships with industry players. For instance, in 2020, the company signed an agreement with various industry players such as Covestro Deutschland AG, ADI Technologies, Inc., and Crossover Solutions Inc. The company is focusing on the commercialization of its medical wireless sensing devices, such as non-invasive blood glucose monitoring systems, scanners, and MRI systems. In addition, the company is looking for strategic partners to help bring products for medical applications to the market.
Metamaterial Market by Material Type (Electromagnetic, Terahertz, Photonic, Tunable, FSS, and others), Application (Communication Antenna, Windscreen, Solar Panel, sensors, Display, and Medical Imaging), Vertical and Geography - Global Forecast to 2026
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