The metamaterials market is projected to grow from US$0.438 billion in 2017 to US$1.119 billion in 2022, growing at a CAGR of 20.63% over the forecast period
Metamaterials are smart materials that are intrinsically capable of controlling and manipulating light, sound, and other phenomena. They find application in the telecommunication, medical, optics, defense, and solar industries among other applications. The escalating demand for wireless mobile communication is the key driver of global metamaterials market.
Rising aging population and increasing cases of chronic diseases are boosting the demand for various medical instruments and devices, thereby impacting the demand for graphene-based metamaterials from medical instrumentation sector. Demand for higher efficiency solar PV cells and high investments by venture capital firms will provide a great opportunity for the expansion of global metamaterials market in the coming years.
Furthermore, the demand for metamaterials will also augment in aerospace and defense segment for various applications such as radomes, cloaking devices, and antennas. North America holds the largest market share of global metamaterials market on account of supportive government initiatives and grants, high investment by venture capital firms in startups, and huge defense budget, especially in the U.S. However, factors such as lack of awareness regarding its commercial use and issues faced in mass production will restrain the growth of global metamaterials market over the forecast period.
Radio and microwave metamaterials
Communication and Radar Systems
Key industry player profiles as part of this section are Sandvik Materials Technology, Nanosteel Company, Metamagnetics, Luminus Devices, and Inframat Corporation among other companies.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Metamaterials Market Forecast by Product (US$ billion)
6. Metamaterials Market Forecast by Application (US$ billion)
7. Metamaterials Market Forecast by Geography (US$ billion)