Metamaterial Market

Introduction of the Metamaterials Market Report

Metamaterials refer to specially engineered composite materials with superior electromagnetic characteristics in comparison with traditional composites found in nature. These products find important applications in major end-use sectors, such as medical, aerospace and defense, consumer electronics, and automotive.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global Metamaterials market include growing interest in utilizing metamaterials in various Information and communication technology applications, increasing demand for modeling &  simulation of metamaterial-based devices for industrial applications, and rising focus on developing efficient solar power solutions are the prominent factors that drive the growth of global metamaterials market. Growing focus on using metamaterials in various healthcare & biomedical applications accelerates the growth of the metamaterials market size. Also, increasing emphasis on utilizing metamaterial technology for producing passive radiative cooling solutions for power plants, electronically scanned array platforms for self-driving cars & drones, and smart metamaterial antennas for 5G networks and satellites are further expected to influence the growth of the global metamaterials market.

Restraint in the Metamaterials Market

However, lack of awareness, high research and development cost for successful integration of metamaterials in real-time applications, and complications related to design & fabrication are some of the major restraining factors hindering the growth of the metamaterials market.

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Application – Segment Analysis

Based on the Application, the Communication Antenna and Radar (BeamSteering) segment is expected to grow at a higher CAGR during the forecast period. This segment is projected to account for the largest metamaterial market size in terms of value during the forecast period. Expanding demand for communication antennas for applications such as satellite communication, Wi-Fi routers, radar communication, and 5G communications are the major factors fueling the growth of the metamaterial market for communication antenna and radar application.

Vertical – Segment Analysis

Based on the Vertical, the Aerospace and Defense segment is expected to grow at a higher CAGR during the forecast period. This segment is estimated to account for the largest metamaterial market size in terms of value. The defense vertical primarily need customized solutions for communication. The majorly adopted metamaterial-based equipment are antennas, protective layers, windscreens, EMC shielding, and cloaking devices. Antennas based on metamaterials can be applied for secure communications in the defense sector as these can be tuned to different bandwidths. The growth of the metamaterial market for the aerospace and defense vertical can be attributed to the growing bandwidth requirement and demand for secure communication.

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Regional – Segment Analysis:

Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period. This can be attributed due to growing investments in defense sectors by Asian countries. In countries such as China, India, South Korea, Pakistan, etc., governments have been increasing their national defense budget for the past few years. In 2020, China announced a 6.6 % increase in its defense budget, amounting to USD 179 billion, the second-largest defense budget, after the US. China has the largest market for antennas in Asia-Pacific, followed by India, Japan, and South Korea. In terms of satellite communication, China launched a satellite to develop quantum communications in the year 2017. The organization has the vision to launch more such satellites in the future in order to enable secure communications across the globe. As the number of digital cellular subscribers are observing high growth in China, service providers are highly concerned with the limited capacities of the existing infrastructure. This has resulted in more installations of smart antenna systems in China. China is expected to strengthen its place among the leading consumers of metamaterials worldwide over the forecast period.

Top Market Players

Various notable players operating in the market include Kymeta Corporation, Metamaterial Inc., Metamagnetics, JEM Engineering, TeraView Limited., Echodyne Corp., Multiwave Technologies AG, Nanohmics Inc., MetaShield LLC, Mediwise, among others. 

Key Developments:

• • In 2020, Kymeta Corporation announced the availability of KymetaTM u8 and Kymeta ConnectTM for government and commercial purchases after November 30, 2020. These products help the company provide broadband satellite connectivity and cellular networks to satisfy the demand for communications on the move.
  • In 2020, Metamaterial Inc. started direct sales via an online store. Initially, the company is selling product families of metaOPTIX Holographic Film Notch Filters.
  • In 2020, Echodyne Corp. launched EchoGuard CR and RadarHub. EchoGuard CR provides high-performance, active beam steering and 3D radar capability in urban and dense environments or locations with reduced range requirements. RadarHub simplifies multi-radar deployment and management.

Segments covered in the Report:

The global Metamaterials market has been segmented on the basis of Technology, Application, Vertical, and regions. Based on Technology, the market is segmented into Electromagnetic, Terahertz, Photonic (Optical), Tunable, Frequency Selective Surface and Other. Based on Application, the market is segmented into Communication Antenna and Radar (BeamSteering), Sensors, Solar Panel and Absorbers, Display, Medical, Imaging, Windscreen and Other. Based on Vertical, the market is segmented into Automotive, Aerospace and Defense, Consumer Electronics, Medical, Energy and Power and Other. 

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Key questions answered in this research report:

• • At what pace is global Metamaterials market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Metamaterials market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Metamaterials market?
  • Which Technology generated maximum revenues in 2019 and identify the most promising Technology during the forecast period?
  • What are the various Application areas of global Metamaterials market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Technology, By Application, By Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Kymeta Corporation, Metamaterial Inc., Metamagnetics, JEM Engineering, TeraView Limited., Echodyne Corp., Multiwave Technologies AG, Nanohmics Inc., MetaShield LLC, Mediwise, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Metamaterials Market by Technology

• • Electromagnetic
  • Terahertz,Photonic (Optical)
  • Tunable
  • Frequency Selective Surface
  • Other

Global Metamaterials Market by Application

• • Communication Antenna and Radar (BeamSteering)
  • Sensors
  • Solar Panel and Absorbers
  • Display
  • Medical
  • Imaging
  • Windscreen
  • Other

Global Metamaterials Market by Vertical

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

Global Metamaterials Market by Region

• • North America Metamaterials Market (Option 1: As a part of the free 25% customization)
    • North America Metamaterials Market by Technology
    • North America Metamaterials Market by Application
    • North America Metamaterials Market by Vertical
    • US Metamaterials Market All-Up
    • Canada Metamaterials Market All-Up
  • Europe Metamaterials Market (Option 2: As a part of the free 25% customization)
    • Europe Metamaterials Market by Technology
    • Europe Metamaterials Market by Application
    • Europe Metamaterials Market by Vertical
    • UK Metamaterials Market All-Up
    • Germany Metamaterials Market All-Up
    • France Metamaterials Market All-Up
    • Spain Metamaterials Market All-Up
    • Rest of Europe Metamaterials Market All-Up
  • Asia-Pacific Metamaterials Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Metamaterials Market by Technology
    • Asia-Pacific Metamaterials Market by Application
    • Asia-Pacific Metamaterials Market by Vertical
    • China Metamaterials Market All-Up
    • India Metamaterials Market All-Up
    • Japan Metamaterials Market All-Up
    • Rest of APAC Metamaterials Market All-Up
  • RoW Metamaterials Market (Option 4: As a part of the free 25% customization)
    • RoW Metamaterials Market by Technology
    • RoW Metamaterials Market by Application
    • RoW Metamaterials Market by Vertical
    • Brazil Metamaterials Market All-Up
    • South Africa Metamaterials Market All-Up
    • Saudi Arabia Metamaterials Market All-Up
    • UAE Metamaterials Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Metamaterials Market All-Up

Major Players Operating in the Metamaterials (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Kymeta Corporation
  • Metamaterial Inc.
  • Metamagnetics
  • JEM Engineering
  • TeraView Limited.
  • Echodyne Corp.
  • Multiwave Technologies AG
  • Nanohmics Inc.
  • MetaShield LLC
  • Mediwise