The growing incidence of demand for advanced materials in the end-use verticals such as consumer electronics, medical, aerospace industries are key factors driving global growth in the industry.

Acoustic Metamaterials Market Size – USD 653.6 million in 2019, Growth - CAGR of 26.9%, Trends – Growing prevalence of electromagnetic properties in various end-use verticals.

The Acoustic Metamaterials market is projected to reach USD 4.42 billion by 2027, according to a new report by Reports and Data. The market is driven by crucial factors such as increasing demand for new technologies that can be used in applications such as absorbers, antennas, and superlenses instead of traditional materials to boost the performance of machinery and the reliability of processes across applications.

Acoustic Metamaterials are uniquely engineered synthetic structures that have superior electromagnetic properties. Such products find a vast potential for use in large end-use verticals such as automotive, medical, consumer electronics, and others. The market is driven mainly by demand from telecommunications applications because of the material's potential to be used in devices such as radars

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Top Companies: Acoustic Metamaterial Technologies, Inc., MetaShield LLC., Kymeta Corporation, MediWise Ltd., Phoebus Optoelectronics LLC, JEM Engineering, LLC, Multiwave Technologies AG, Echodyne, Inc., NKT Photonics AS and Fractal Antenna Systems Inc., among others.

Further Key Finding from the Report Suggestion:

• The aerospace and defense market is emerging as the largest end-use segment in terms of revenue, and this domination is projected to continue in the forecasting period. This can be due to the fast development of this vertical end-user in core economies such as the United States, Germany, the U.K., China, India, and Russia.
• The antenna segment is expected to witness steady growth over the projected period, primarily due to increased demand for specialized antennas in applications in defense, aerospace, and telecommunications.
• In recent years, all of the significant market players have invested heavily in RD initiatives, leading to the invention of several innovative products. Major players aim to enhance their product portfolio by strategic mergers and acquisitions of small and medium-scale companies. In the coming years, therefore, an intense rivalry among players is expected.
• In August 2019, Continental Precious Minerals Inc. entered into an amalgamation deal with Acoustic Metamaterial Technologies Inc., a smart materials and photonics company headquartered in Nova Scotia, and the Continental Precious Minerals Subco Inc.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Acoustic Metamaterial market is segmented into:

Product Type Outlook (Revenue, USD Billion; 2017-2027)

• Electromagnetic
• Tunable
• Photonic
• Frequency Selective Surface
• Terahertz
• Others

Application Outlook (Revenue, USD Billion; 2017-2027)

• Absorber
• Antenna
• Cloaking devices
• Super lens
• MRI
• X-ray
• Others

End-Use Outlook (Revenue, USD Billion; 2017-2027)

• Medical
• Automotive
• Consumer Electronics
• Aerospace and Defense
• Energy and Power
• Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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