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Global Metamaterial Market to Rise at a CAGR of 28% During 2022-2027, Driven by the Rising R&D Activities

According to a new report by EMR titled, ‘Global Metamaterial Market Report and Forecast 2022-2027’, the market attained a value of about USD 238.3 million in 2020. The industry is further expected to grow at a CAGR of 28% in the forecast period of 2022-2027.

Increasing demand for communication appliances and products and the growing use of solar energy are driving the metamaterial market. An increase in research and development activities in the industry is aiding the market growth potential. Additionally, there is increasing investment by the government in the sector. Advancement in 5G technology provides flexible connectivity. Rising investment by the key players in the market, such as Metamaterial Technologies Inc. and Metaboards, among others, is leading to market growth of the industry. The use of metamaterials in several sectors such as aerospace and defence, automotive, medical, and other segments are driving the market growth.

Various uses of metamaterials in different sectors are driving market growth. Metamaterial in the medical industry enhances the sensitivity of MRI machines. Metamaterials transmit high wattages over long distances and substantially improve the efficiency of lower-power wireless charging systems. Increased use of metamaterials in solar power systems and radar for drones leads to the industry's growth. In October 2021, Metamaterial Technologies Inc. (NASDAQ: MMAT), a developer of high-performance functional materials and nanocomposites, announced that it had completed the acquisition of Nanotech Security Corp.

Market Analysis by Product, Application, End-Use, and Region:

  • The market, based on product, can be divided into electromagnetic, terahertz, photonic, tunable, frequency selective surface, and non-linear.
  • The industry can be divided into applications into antenna, absorber, superlens, and cloaking devices, among others.
  • The end-uses for metamaterial include aerospace and defence, medical, automotive, consumer electronics, energy, and power.
  • The regional markets for metamaterial include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

  • Advancement in 5G technology and communication satellites is driving the demand for the metamaterial industry.
  • Increasing defence budget in countries is offering growth opportunities in forecast years.
  • Increasing investment in telecommunication technologies is leading to the growth of the market.
  • The wide use of metamaterial-based radar for drones is aiding the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global metamaterial industry for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the product, application, end-use, and regions of the metamaterial.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global metamaterial market are Metamaterial Technologies Inc., Metaboards, and Nahsai, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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