WASHINGTON, April 10, 2023 (GLOBE NEWSWIRE) -- The Global Metamaterials Market is valued at USD 315.2 Billion in 2022 and is projected to reach a value of USD 2509.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 34.5% over the forecast period 2023-2030.
Market Overview
The variety of design functionalities, anti-glare coating applications, and invisibility cloak for stealth aircraft primarily drive the market for Metamaterials. Furthermore, the metamaterial market is being driven by rising demand from the aerospace and defense sector, rising antenna usage, and rising wireless mobile communication need.
We forecast that the electromagnetic category in Metamaterials market sales will account for more than 29% of total sales by 2028. Structures with particularly constructed features for microwave and photonic operations, such as microwave couplers, electromagnetic psionic powers, and beam steerers, make up electromagnetic Metamaterials. This electromagnetic metal's features give it a wide range of applications across numerous end-use industries.
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Market Dynamics
Use of Metamaterials in Solar Systems to Support Market Expansion
A profitable possibility for the business exists with the application of Metamaterials in solar systems and metamaterial-based radars for drones. The market faces many obstacles due to the need for more technologies suitable for mass production. Government agencies invest much money in metamaterial research and development for use in the aerospace and defense industries. As a result, the variety of design attributes drives the need for Metamaterials in a broad range of applications.
Increasing Usage of Antennas for Communication to Drive the Market Growth
One of the most significant uses for Metamaterials is as an antenna. The characteristics of the antenna are improved by using the special property of Metamaterials. Microstructure coatings enhance the radiation and electrically coordinate the properties for small, appealing dipole-receiving apparatuses that use electricity. 95% of the information radio signals picked up by these antennas come from 350 MHz. The beam width of patch receiver devices with metamaterial spread has increased.
Top Players in the Global Metamaterials Market
- Acoustic Metamaterials Group Ltd (Hong Kong)
- Metamagnetics Inc. (Westborough, U.S.)
- Echo Dyne Inc. (Kirkland, U.S.)
- Advanced Research Projects Agency (Arlington County, U.S.)
- Fractal Antenna Systems Inc. (Bedford, U.S.)
- Meta Boards Limited (Oxford)
- Tera View (Cambridge, U.K.)
- Nano-Meta Technologies Inc. (West Lafayette, U.S.)
- Metamaterial Technologies Inc. (Dartmouth, Canada)
- Palo Alto Research Centre Incorporated (Palo Alto, U.S.)
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Key Challenges Facing in Metamaterials Market:
- High cost of production: Metamaterials are expensive to produce. This is due to the fact that they are made from complex materials and require sophisticated manufacturing processes.
- Lack of awareness: Metamaterials are a relatively new technology. There is a lack of awareness about these materials among potential users. This is hindering the adoption of metamaterials in various applications.
- Regulatory challenges: There are a number of regulatory challenges that are hindering the growth of the metamaterials market. These challenges include the need for new regulations to address the safety and environmental impact of metamaterials.
Top Report Findings
- Based on Technology, the electromagnetic technology category controls most of the Metamaterials market's revenue. The expansion can be linked to the expanding usage of electromagnetic Metamaterials for transceivers, including new types of nanostructures spacecraft and radars for private communications.
- Based on the Application, most of the Metamaterials market's revenue is controlled by the communication antenna and radar category. The Metamaterials market is expanding due to the rising need for telecommunication antennas for wireless transmission, Wi-Fi routers, radar connectivity, and 5G communication services.
- Based on Vertical, most of the Metamaterials market's revenue is controlled by the aerospace and defense category. The defense sector requires specialized communication solutions. The most often employed metamaterial devices in the defense industry are the antenna, shielding, wing mirrors, EMC shields, and concealing devices.
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Top Trends in Global Metamaterials Market
- One trend that Vantage Market Research (VMR) predicts in the Metamaterials industry is substantial government interest and investment. Some possibilities for the metaphysical market to flourish involve significant investments from the governmental and private sectors in commercializing goods.
- Another trend that VMR projects will continue in the Metamaterials industry is its increased adoption in aerospace and defense. Market expansion is projected to be fueled by the growing demand for antennas and radars in the military and defense industries for commercial reasons. Metamaterials-based thin and effective antennas can fit into tight areas and outperform traditional antennas.
Global Metamaterials Market Segmentation
Based on Technology
- Electromagnetic
- Terahertz
- Photonic (Optical)
- Tunable
- Frequency Selective Surface
- Other Technologies
Based on Application
- Communication Antenna & Radar (Beam Steering)
- Sensors
- Solar Panel & Absorbers
- Display
- Medical Imaging
- Wind Screen
- Other Applications
Based on Vertical
- Automotive
- Aerospace & Defense
- Consumer Electronics
- Medical
- Energy & Power
- Other Verticals
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Metamaterials Market Forecast Report (2023-2030).
Communication Antenna and Radar Category in Metamaterials Market to Generate a Substantial Revenue
For better understanding, based on Application, the Metamaterials market is divided into Communication Antenna & Radar (Beam Steering), Sensors, Solar Panel & Absorbers, Display, Medical Imaging, Wind Screen and Other Applications.
During the forecast period, the market for Metamaterials is projects anticipated to experience the highest CAGR for the communication antenna and radar category. The need for antennas and radars is rising due to the defense industry's escalating safety standards. These radars aid in activities carried out in low-visibility situations and assisted in spotting any obstructions. China just deployed a satellite to create quantum communications. The company thinks more satellite launches will be needed to ensure secure global communications.
On the other hand, the Sensors category is anticipated to grow significantly. Sensors are tools that monitor environmental changes or occurrences and respond by producing an output. They respond by displaying the information or transmitting it in computer form for further processing when the relevant activities input, such as sunlight, heat, vibration, wetness, stress, or other things.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 315.2 Million |
| Revenue Forecast by 2030 | USD 2509.8 Million |
| CAGR | 34.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Acoustic Metamaterials Group Ltd, Metamagnetics Inc., Echo Dyne Inc., Advanced Research Projects Agency, Fractal Antenna Systems Inc., Meta Boards Limited |
| Customization Options | If our report does not include the information you are searching for, you may contact us to have a report tailored to your specific business needs https://www.vantagemarketresearch.com/metamaterials-market-2056/request-sample |
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Recent Developments in the Global Metamaterials Market
- In January 2021, The KY meta U8 and KY meta Connect, two of Kieta’s next-generation technologies, are being supported by a USD 30 million investment that Hanwha Systems and KY meta-Corporation agreed to make.
- In October 2020, Echo dyne Inc. unveiled Radar Hub and Echo Guard CR. Echo Guard CR provides high-performance active beam steering and 3D radar functionality in crowded, urban, and other environments with short-range needs. Radar Hub simplifies multi-radar deployment and management.
Key Questions Answered in Metamaterials Market Report
- What is the current market size of metamaterials, and what is the expected growth rate over the forecast period?
- What are the key drivers, restraints, and trends influencing the metamaterials market, and how are they likely to shape the market's future?
- What are the different types of metamaterials available, and what are their respective market shares and growth prospects?
- What are the main application areas of metamaterials, such as aerospace & defense, telecommunications, medical devices, and consumer electronics, and what are the market shares and growth prospects of these applications?
- Who are the major players in the metamaterials market, what are their market shares, and what strategies are they employing to gain a competitive advantage?
- What are the major challenges and opportunities facing the metamaterials market, and how can companies capitalize on these to enhance their market position?
- What is the regulatory environment governing the metamaterials market, and how is it likely to evolve in the future?
Regional Analysis
North America Region in Metamaterials Market to Generate closed to half the Global Revenue
North America region dominates the market throughout the projection period due to the quick expansion of key end-use industries like electronics, telecommunications, transportation, and military and defense. Due to the expansion of the aerospace and defense industries' needs.
The Asia Pacific region is projected to show a tremendous share of the market. Most of this expansion can be attributed to greater investment in Asian nations' defense industries. The national military budgets of nations like China, India, South Korea, Pakistan, and others have steadily climbed. Service providers are growing more apprehensive about the infrastructure's constrained capacity as even the number of digital cellular users in China keeps expanding. As a result, China is implementing stronger antenna systems.
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