Metal Matrix Composite Market Competitive Analysis And Forecast To 2022 : Grand View Research Inc.
As per the report by Grand View Research, Inc., the metal matrix composite market is poised to rise to a valuation of USD 433.3 million and is estimated to witness a CAGR of 6.3 % by 2022. Rising demand for strong and lightweight metal matrix composite from the ground transportation end-use sector is anticipated to drive the market in the forecast period. Growing attention on performance improvement in terms of both safety and fuel efficiency is anticipated to drive the metal matrix composite demand from marine, aerospace, and automotive in the years to come. Increasing manufacturing of electronic equipment is also anticipated to boost the demand for metal matrix composite in the near future. The increasing trend for weight reduction in commercial vehicles and passenger cars might also prove to be a major driving factor to increase the use of these composites in the automotive industry in the forecast period. On the other hand, concerns about recyclability, reparability, compl