[238+ Pages Report] According to Facts and Factors, the demand analysis of Global Metamaterials Market size is likely to grow USD 1,813.57 million by 2028, at a CAGR of approximately 36.20% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are Kymeta Corporation, Metamaterial Technologies, Inc., Echodyne Inc., Multiwave Technologies AG, Metashield LLC, MultiwaveMetacrystal, Plasmonics, Inc., Metamagnetics, Inc., Nanohmics, Inc., Phoebus Optoelectronics, LLC, Metaboards, Radi-Cool, Phononic Vibes, Transsip, Inc, and others.
DUBLIN, Ireland, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Metamaterials Market Size, Share, Growth Analysis Report By Technology (Electromagnetic, Terahertz, Photonic (Optical), Tunable, Frequency Selective Surface, Others), By Application (Communication Antenna and Radar (Beam Steering), Sensors, Solar Panels and Absorbers, Display, Medical Imaging, Windscreen, Others), By Vertical (Automotive, Aerospace and Defense, Consumer Electronics, Medical, Energy and Power, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Metamaterials Market size & share was valued at approximately USD 284.10 million in 2021. The market is expected to grow above a CAGR of 36.20% and is anticipated to reach over USD 1,813.57 million by 2028.”
The report analyses the Metamaterials market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Metamaterials market.
What are Metamaterials? How big is the Metamaterials Industry?
A composite material having extraordinary acoustic, electrical, magnetic, and optical capabilities is known as a metamaterial. Resonators manipulate electromagnetic waves or sound in unusual ways for natural phenomena. Metamaterials exhibit negative permittivity and permeability, which are remarkable qualities in addition to their exceptional physical properties.
In metamaterials, different configurations of unit cells can be utilized to regulate wave propagation. Metamaterials are synthetic, man-made composite materials whose characteristics are determined by their interior microstructure instead of their chemical makeup. The use of metamaterials in antennas is one of the most significant applications of these materials, among others, which are as follows. Small electric and attractive dipole reception apparatuses are coated with metamaterials to improve their radiation properties and electrically coordinate them.
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Key Insights from Primary Research
As per the analysis, the Metamaterials market is likely to grow above a CAGR of around 36.20% between 2022 and 2028.
The Metamaterials market size was worth around US$ 284.10 million in 2021 and is estimated to hit approximately US$ 1,813.57 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
By technology, the electromagnetic category dominated the market in 2021.
By application, the communication antenna and radar category dominated the market in 2021.
On the basis of region, North America dominated the metamaterials market in 2021.
The report contains qualitative and quantitative research on the global Metamaterials Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main players in the global Metamaterials market include;
Metamaterial Technologies Inc.
Multiwave Technologies AG
Phoebus Optoelectronics LLC
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The use of metamaterials in aerospace, defense, and high-end military applications is anticipated to promote market growth. Metamaterials have inherent value and utility due to their special, manufactured qualities, as with communications antennas, windscreens, solar panels, sensors, and medical imaging devices. As a result, government organizations like the department of defense (DOD) and the defense advanced research projects agency (DARPA) are heavily funding metamaterial research and development for use in aerospace and defense. The rising use of metamaterials for communication antennas and miniature radars during the forecast period is another element fueling the market for these materials' rise. Metamaterials are used extensively throughout several industries, including telecommunications and pharmaceuticals. They are perfect for creating metamaterial lenses, antennas, and sensors because of their unique features.
Metamaterial-based lenses, antennas, and sensors are more effective than conventional ones. The market for metamaterials is driven by the growing demand for graphene-based metamaterials in the medical sector. Due to their electromagnetic characteristics, sensors and microwave antennas are essential components of the telemetry system. Highly effective metamaterials are ideal for solar cells and optical sensors because they can absorb various light. Therefore, due to the variety of design functions, metamaterials are highly sought after for numerous applications. Despite this, the only thing standing in the way of the worldwide metamaterial market's expansion is a lack of sufficient production infrastructure.
Industry companies continue to rely on research universities for mass production. In contrast to their constituent materials, their structure determines metamaterials' qualities. Thus, depending on their intended use, metamaterials are synthesized in various ways. Finding the appropriate materials to satisfy an application's needs cannot be easy. This makes the process of producing metamaterials difficult and time-consuming. The price of synthesis varies depending on the fabrication techniques employed. Different fabrication techniques are available depending on the design combination and desired use. As a result, creating metamaterials is expensive. The price of synthesizing metamaterials is considerable, which restrains the market for them because there isn't readily available technology to do so.
Metamaterials Market: COVID-19 Impact Analysis
People and companies in every region of the world have been impacted as a result of the COVID-19 pandemic. The functioning of businesses was either completely suspended or only partially maintained, which caused a disruption in the global economy. Covid-19 had an effect on the market for metamaterials because it had a ripple effect across all industries, including the automotive industry, the defence industry, the aerospace industry, the electronics industry, and others. This had the effect of halting several ongoing projects and reducing investments in new machinery. As a direct consequence of this, the global market for metamaterials saw sluggish growth.
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Metamaterials Market: Segmentation Analysis
The metamaterials market is segregated based on technology, application, vertical and region. Based on technology, the market is divided into electromagnetic, terahertz, photonic (optical), tunable, frequency selective surface and others. Among these, the electromagnetic segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period.
Based on application, the market is classified into communication antenna and radar (beam steering), sensors, solar panel and absorbers, display, medical imaging, windscreen and others. In 2021, the communication antenna and radar category dominated the global market. Based on the vertical, the market is classified into automotive, aerospace and defense, consumer electronics, medical, energy and power, and others. The aerospace and defense vertical segment dominated the market in 2021.
The metamaterials market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America held a dominant position in the worldwide metamaterials market in 2021 due to rising demand from the aerospace and defense sectors. Research universities and business firms are receiving significant funding from government agencies, including the DOD, DARPA, and NASA, to develop metamaterial-based antennas. Demand for metamaterials has recently increased, driven mostly by the aerospace & defense, automotive, consumer electronics, medical, and energy & power sectors. The US government (DOD, DARPA, US Navy) and private organizations (Bill Gates Foundation, Lux Capital, and Kresge Foundation) support developing effective and reasonably priced electronic equipment and applications.
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Recent Industry Developments:
January 2021: Kymeta received an investment from Hanwha Systems (HSC) to support the metamaterial-based antenna technology.
October 2020: EchoGuard CR and RadarHub were introduced by Echodyne Inc. EchoGuard CR offer high-performance active beam steering and 3D radar capability in urban and crowded situations and areas with limited range requirements. RadarHub makes multi-radar deployment and management easier.
Key questions answered in this report:
What is the market size and growth rate forecast for Metamaterials industry?
What is the main driving factors propelling the Metamaterials Market forward?
What are the leading companies in the Metamaterials Industry?
What segments does the Metamaterials Market cover?
How can I receive a free copy of the Metamaterials Market sample report and company profiles?
Market Size in 2021
USD 284.10 million
Projected Market Size in 2028
USD 1,813.57 million
CAGR Growth Rate
Key Market Players
Kymeta Corporation, Metamaterial Technologies Inc., Echodyne Inc., Multiwave Technologies AG, Metashield LLC, MultiwaveMetacrystal, Plasmonics Inc., Metamagnetics Inc., Nanohmics Inc., Phoebus Optoelectronics LLC, Metaboards, Radi-Cool, Phononic Vibes, TranssipInc, Multiscale Systems, Mediwise, Metawave, Pivotal Commware, Metasonixx, Sonobex Limited, JEM Engineering LLC, Applied EM, Aegis Technologies, Teraview, Sensormetrix, and Others
By Technology, Application, Vertical, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global Metamaterials market is segmented as follows:
Frequency Selective Surface
Communication Antenna and Radar (Beam Steering)
Solar Panel and Absorbers
Aerospace and Defense
Energy and Power
Rest of Europe
Rest of Southeast Asia
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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Market Size, Trends, & Forecast by Revenue | 2022−2028
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Technology, Application, Vertical, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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