SAN FRANCISCO, September 22, 2015 /PRNewswire/ --
The global metal matrix composite market is expected to reach USD 433.3 million by 2022, according to a new report by Grand View Research, Inc. Increasing need for high-performance composite metals from automotive, aerospace, and marine industries is expected to fuel the product demand over the forecast period. High malleability, ductility, and tensile strength offered by metal composites make them popular in various application segments including automotive, electronics, and aerospace industries.
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Increasing need for automotive curb weight reduction to increase fuel-efficiency and reduce pollution is expected to augment composite metal usage in automotive production. Increasing disposable income is expected to fuel high-performance automobile demand over next seven years. High manufacturing costs for metal composites along with limited technological expertise are expected to pose a challenge for market growth over the forecast period.
Browse full research report with TOC on "Metal Matrix Composite (MMC) Market Analysis By Product (Aluminum, Nickel, Refractory) By End-use (Ground Transportation, Electronics/Thermal Management, Aerospace) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/metal-matrix-composites-mmc-market
North America dominated the overall MMC market and accounted for 34.8% of the total market volume in 2013. Rising demand for high-performance materials from automotive and aerospace industries is expected to remain a key driving factor affecting the MMC market over the forecast period. Asia Pacific is expected to be the fastest growing market on account of rapidly growing automotive and electronics industries. Europe is expected to witness slow growth on account of lower growth rates of end-use industries.
Further key findings from the report suggest:
Grand View Research has segmented the metal matrix composite market on the basis of product, end-use and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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