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The metal matrix composites (MMC) market size is forecast to increase by USD 196.3 billion at a CAGR of 8.09% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand from industries such as aerospace and defense. These industries value the high strength-to-weight ratio and excellent thermal and electrical conductivity offered by MMCs. Casting and deposition techniques are commonly used to manufacture MMCs, with aluminum, nickel, refractory metals, and ceramics being the primary matrix and reinforcement materials. Silicon carbide, aluminum oxide, and titanium carbide are popular reinforcement materials used in MMCs. A notable trend in the MMC market is the increased use of these composites in additive manufacturing, particularly in the production of complex components for the automotive and locomotive industries, as well as in electrical and electronics applications.
However, the high production costs of MMCs remain a challenge for market growth. Key materials used in MMC production include aluminum, nickel, refractory metals, silicon carbide, aluminum oxide, and titanium carbide. These materials are utilized in casting and deposition techniques to create strong and durable MMCs for various industries. The aerospace and defense sectors are major consumers of MMCs due to their desirable properties, while the automotive and locomotive industries are also increasing their use in these composites for weight reduction and improved performance. In the electrical and electronics sector, MMCs are utilized for their excellent thermal and electrical conductivity.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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