LONDON, Sept. 15, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company's research report on the metal matrix composite market, metal matrix composites possess high strength and stiffness and can be used in applications where weight saving is an important factor. These potential applications of MMCs include high-speed machinery, robots, and high-speed rotating shafts for automobiles and ships. MMC possesses a low coefficient of thermal expansion, which can be altered as per the requirements; this property has helped MMCs to penetrate into lasers, precision machinery, and electronic packaging applications. There is a huge growth potential for MMCs in the aforementioned applications due to new developments taking place in the MMC market.
The global metal matrix composites market size is expected to grow from $329.11 million in 2020 to $352.76 million in 2021 at a compound annual growth rate (CAGR) of 7.2%. Metal matrix composites market growth is mainly due to the increasing usage of MMC in the automotive & transportation and aerospace sector, growing focus on performance enhancement, rising concerns regarding environmental degradation and increasing levels of carbon emissions. The market is expected to reach $539.66 million in 2025 at a CAGR of 11.2%.
The Business Research Company's report titled Metal Matrix Composite Global Market Report 2021 – By Matrix Type (Aluminum MMC, Magnesium MMC, Copper MMC, Super Alloys MMC), By Production Technology (Liquid Metal Infiltration, Powder Metallurgy, Casting, Deposition Techniques), By End-Use Industry (Automotive And Transportation, Aerospace And Defense, Electrical And Electronics, Industrial), COVID-19 Growth And Change covers major metal matrix composite companies, metal matrix composite market share by company, metal matrix composite manufacturers, metal matrix composite market size, and metal matrix composite market forecasts. The report also covers the global metal matrix composite market and its segments.
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