02-Sep-2022 | Facts and Factors
According to Facts and Factors, the metamaterials market size was worth USD 284.10 million in 2021 and is estimated to grow to USD 1,813.57 million by 2028, with a compound annual growth rate (CAGR) of approximately 36.20% over the forecast period. The report analyzes the metamaterials market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the metamaterials market.
A composite material having extraordinary acoustic, electrical, magnetic, and optical capabilities is known as a metamaterial. Resonators manipulate electromagnetic waves or sound in unusual ways for natural phenomena. Metamaterials exhibit negative permittivity and permeability, which are remarkable qualities in addition to their exceptional physical properties. In metamaterials, different configurations of unit cells can be utilized to regulate wave propagation. Metamaterials are synthetic, man-made composite materials whose characteristics are determined by their interior microstructure instead of their chemical makeup. The use of metamaterials in antennas is one of the most significant applications of these materials, among others, which are as follows. Small electric and attractive dipole reception apparatuses are coated with metamaterials to improve their radiation properties and electrically coordinate them.
Browse the full “Metamaterials Market Size, Share, Growth Analysis Report By Technology (Electromagnetic, Terahertz, Photonic (Optical), Tunable, Frequency Selective Surface, Others), By Application (Communication Antenna and Radar (Beam Steering), Sensors, Solar Panels and Absorbers, Display, Medical Imaging, Windscreen, Others), By Vertical (Automotive, Aerospace and Defense, Consumer Electronics, Medical, Energy and Power, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/metamaterials-market
The use of metamaterials in aerospace, defense, and high-end military applications is anticipated to promote market growth. Metamaterials have inherent value and utility due to their special, manufactured qualities, as with communications antennas, windscreens, solar panels, sensors, and medical imaging devices. As a result, government organizations like the department of defense (DOD) and the defense advanced research projects agency (DARPA) are heavily funding metamaterial research and development for use in aerospace and defense. The rising use of metamaterials for communication antennas and miniature radars during the forecast period is another element fueling the market for these materials' rise. Metamaterials are used extensively throughout several industries, including telecommunications and pharmaceuticals. They are perfect for creating metamaterial lenses, antennas, and sensors because of their unique features. Metamaterial-based lenses, antennas, and sensors are more effective than conventional ones. The market for metamaterials is driven by the growing demand for graphene-based metamaterials in the medical sector. Due to their electromagnetic characteristics, sensors and microwave antennas are essential components of the telemetry system. Highly effective metamaterials are ideal for solar cells and optical sensors because they can absorb various light. Therefore, due to the variety of design functions, metamaterials are highly sought after for numerous applications. Despite this, the only thing standing in the way of the worldwide metamaterial market's expansion is a lack of sufficient production infrastructure.
Industry companies continue to rely on research universities for mass production. In contrast to their constituent materials, their structure determines metamaterials' qualities. Thus, depending on their intended use, metamaterials are synthesized in various ways. Finding the appropriate materials to satisfy an application's needs cannot be easy. This makes the process of producing metamaterials difficult and time-consuming. The price of synthesis varies depending on the fabrication techniques employed. Different fabrication techniques are available depending on the design combination and desired use. As a result, creating metamaterials is expensive. The price of synthesizing metamaterials is considerable, which restrains the market for them because there isn't readily available technology to do so.
The metamaterials market is segregated based on technology, application, vertical and region. Based on technology, the market is divided into electromagnetic, terahertz, photonic (optical), tunable, frequency selective surface and others. Among these, the electromagnetic segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on application, the market is classified into communication antenna and radar (beam steering), sensors, solar panel and absorbers, display, medical imaging, windscreen and others. In 2021, the communication antenna and radar category dominated the global market. Based on the vertical, the market is classified into automotive, aerospace and defense, consumer electronics, medical, energy and power, and others. The aerospace and defense vertical segment dominated the market in 2021.
The metamaterials market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America held a dominant position in the worldwide metamaterials market in 2021 due to rising demand from the aerospace and defense sectors. Research universities and business firms are receiving significant funding from government agencies, including the DOD, DARPA, and NASA, to develop metamaterial-based antennas. Demand for metamaterials has recently increased, driven mostly by the aerospace & defense, automotive, consumer electronics, medical, and energy & power sectors. The US government (DOD, DARPA, US Navy) and private organizations (Bill Gates Foundation, Lux Capital, and Kresge Foundation) support developing effective and reasonably priced electronic equipment and applications.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 284.10 Million |
Projected Market Size in 2028 |
USD 1,813.57 Million |
CAGR Growth Rate |
36.20% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Kymeta Corporation, Metamaterial Technologies Inc., Echodyne Inc., Multiwave Technologies AG, Metashield LLC, Multiwave Metacrystal, Plasmonics Inc., Metamagnetics Inc., Nanohmics Inc., Phoebus Optoelectronics LLC, Metaboards, Radi-Cool, Phononic Vibes, Transsip Inc, Multiscale Systems, Mediwise, Metawave, Pivotal Commware, Metasonixx, Sonobex Limited, JEM Engineering LLC, Applied EM, Aegis Technologies, Teraview, Sensormetrix, and Others |
Key Segment |
By Technology, Application, Vertical, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Key players in the metamaterials market include - Kymeta Corporation, Metamaterial Technologies, Inc., Echodyne Inc., Multiwave Technologies AG, Metashield LLC, Multiwave Metacrystal, Plasmonics, Inc., Metamagnetics, Inc., Nanohmics, Inc., Phoebus Optoelectronics, LLC, Metaboards, Radi-Cool, Phononic Vibes, Transsip, Inc, Multiscale Systems, Mediwise, Metawave, Pivotal Commware, Metasonixx, Sonobex Limited, JEM Engineering, LLC, Applied EM, Aegis Technologies, Teraview, and Sensormetrix.?
Recent Development:
- January 2021: Kymeta received an investment from Hanwha Systems (HSC) to support the metamaterial-based antenna technology.
- October 2020: EchoGuard CR and RadarHub were introduced by Echodyne Inc. EchoGuard CR offer high-performance active beam steering and 3D radar capability in urban and crowded situations and areas with limited range requirements. RadarHub makes multi-radar deployment and management easier.
Metamaterials Market is segmented as follows:
By Technology
- Electromagnetic
- Terahertz
- Photonic (Optical)
- Tunable
- Frequency Selective Surface
- Others
By Application
- Communication Antenna and Radar (BeamSteering)
- Sensors
- Solar Panel and Absorbers
- Display
- Medical Imaging
- Windscreen
- Others
By Vertical
- Automotive
- Aerospace and Defense
- Consumer Electronics
- Medical
- Energy and Power
- Others
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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