The changing dynamics in Metal Matrix Composite Market with covid-19 impact assessment
June 04, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Metal Matrix Composite Market.
It was estimated prior to this unanticipated outbreak that the Metal Matrix Composite Market was expected to grow at a CAGR of 8.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Metal Matrix Composite is a combination of two constituents among which one has to be metal while the other one can be a metal or a non-metal substance such as ceramic or other.
Metal Matrix Composite is organized through a number of technologies such as powder metallurgy, liquid infiltration, casting, and others. Ground transportation, aerospace, thermal management, and others are some of the application areas where metal matrix composite is used.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the end-use industry type, the market is segmented as ground transportation, aerospace, thermal management, industrial, and others. The ground transportation end-use application segment accounted for the largest market share in 2018, in terms of value and volume, and is expected to maintain its dominance during the forecast period. This is growth is due to the proven and established applications of MMCs in brake discs and engine components. Further, the ground transportation market is estimated to register a higher growth rate driven by its demand for MMC-based materials in automotive and in rail applications.
Based on the product type, the market is segmented as aluminum MMC, magnesium MMC, refractory MMC, and others. The aluminum MMC holds the largest market share in terms of both value and volume, by the virtue of its richer properties and comparatively low production cost. The segment is likely to continue its governance during the forecast period as well.
In terms of regions, North America is estimated to be large and fast growing region in the MMCs market during the forecast period. This growth is due to the presence of established MMC manufacturers and increased consumption of MMC in the aerospace and transportation industries in the North American region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period. China and India are the growth engines of the Asia-Pacific region.
Key Players:
Some of the major players in the metal matrix composite market are CPS Technologies Corporation, The 3M Company, Deutsche Edelstahlwerke GmbH, Ferrotec Corporation, Sandvik AB, GKN Sinter Metals, and Metal Matrix Cast Composites.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Metal Matrix Composite Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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