Emergen Research's new report, titled 'Global Metamaterial Market,' is methodically curated by our team of analysts with readers' comprehension in mind, and includes a comprehensive database of industry distribution. The report examines historical and current market scenarios in order to forecast the global Metamaterial Market outlook over the forecast period (2022-2030). Researchers took a comprehensive approach to global market analysis, highlighting the factors that influence the market's overall growth. The research employs effective analytical tools such as SWOT analysis and Porter's Five Forces to examine the strengths, weaknesses, opportunities, and threats associated with the growth of various market segments.
The global metamaterial market size is expected to reach USD 4,984.4 Million at a revenue CAGR of 36.7% in 2030, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by rising demand for manufacturing innovative metamaterials and their applications in absorbers, super lenses, and antennas rather than using traditional materials to enhance efficiency and overall productivity across application sectors. In addition, rising demand from the telecommunications sector is also driving revenue growth of the market. For instance, on 11 September 2019, California Institute of Technology, Georgia Institute of Technology, and ETH Zurich formed a collaboration to develop a new metamaterial that can change its shape.
Furthermore, widespread usage of metamaterials in consumer electronics and medical industries is expected to grow throughout the forecast period. Usage of metamaterials in electronic and medical product manufacturing has significantly contributed to market revenue growth owing to its capability to regulate electromagnetic waves. Moreover, research is being conducted to assist and broaden the scope of product, so that it may be utilized to meet higher demands, for expanded safety in defense and aerospace industries. This can be further attributed to rising demand for radars and antennas made of metamaterials as these radars help to detect obstructions and aid with operations, especially in poor visibility circumstances.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
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.
Target Audience of the Global Metamaterials Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- Global market producers, distributors, traders, and suppliers
- Research organizations, consulting companies, and various alliances interested in this sector
- Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentations of the Metamaterials Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Metamaterials market on the basis of product, application, and region:
Segments Covered in this report are:
- Product Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2019-2030)
- Electromagnetic
- Tunable
- Photonic
- Frequency Selective Surface
- Terahertz
- Others
- Application Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2019-2030)
- Absorber
- Antenna
- Cloaking Devices
- Super Lens
- MRI
- X-ray
- Others
- End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2019-2030)
- Medical
- Automotive
- Consumer Electronics
- Aerospace and Defense
- Energy and Power
- Others
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Some Key Highlights in the Report
- On 30 March 2020, Digital Barriers released a real-time remote fever scanning solution. This fever scanner is made of metamaterials with fever scanning cameras for frontline workers with potential infection risks.
- The terahertz segment is expected to register fastest revenue CAGR over the forecast Market growth is attributable to rising demand for terahertz submillimeter radiation applications in sectors such as spectroscopy, photovoltaic, medical, pharmacy, quality assurance, dentistry, communication, and astronomy. Additionally, increase in terahertz applications for cancer therapy and rising usage of terahertz spectroscopy in food inspection sectors for quality control are driving revenue growth of the segment. Apart from this, market players are investing in RD activities, as well as implementing terahertz imaging system technology in industries, such as aerospace and defense homeland security, which are some important factors driving revenue growth of this segment.
- The antenna segment accounted for largest revenue share in 2021. There is an increase in demand for antennas owing to the trend toward nanotechnology of communications equipment, as well as developments in Wi-Fi and communication satellite technology worldwide. Additionally, as digitalization grows in second and third-world countries, usage of metamaterials is expected to increase owing to growing interest in multiband antennas, which is contributing to growth of this segment.
- The Asia Pacific market is expected to register fastest revenue CAGR during the forecast period due to introduction of 5G technology, which has supported market expansion. In addition, the region has a larger population of mobile phone users than North America and Europe. With the rollout of 5G, investments in these countries are expected to surge, creating new growth prospects over the forecast period. On 28 October 2021, Menlo Systems opened a subsidiary in China, Shanghai Menlo Systems Quantum Laser Technology Co., Ltd. in partnership with Thorlabs. This, new office is expected to strengthen the supply chain, thereby having a direct interaction with customers, which is expected to drive revenue growth in the region.
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