Metal Matrix Composites MMCs Market Summary
As per Market Research Future Analysis, the Global Metal Matrix Composites (MMCs) Market was valued at USD 224.82 Billion in 2023 and is projected to reach USD 369.29 Billion by 2032, growing at a CAGR of 5.58% from 2024 to 2032. The growth is driven by the increasing demand for lightweight materials in the automotive and aerospace sectors, with applications in structural aerospace components and automotive parts. The market is also supported by advancements in manufacturing technologies and a rise in space missions, enhancing the demand for MMCs across various industries.
Key Market Trends & Highlights
Key trends driving the Metal Matrix Composites market include advancements in aerospace applications and increased automotive production.
- The aerospace sector is increasingly utilizing MMCs for structural components, enhancing fuel efficiency and performance.
- Aluminum MMCs dominate the market due to their lightweight and high-strength properties, crucial for aerospace and automotive applications.
- The Asia-Pacific region is expected to grow the fastest, driven by technological advancements and increased automotive production.
- The automotive segment leads in MMC applications, with rising demand for high-performance materials in vehicles.
Market Size & Forecast
2023 Market Size: USD 224.82 Billion
2032 Market Size: USD 369.29 Billion
CAGR (2024-2032): 5.58%
Largest Regional Market Share in 2024: North America.
Major Players
Key players include Materion Corporation (US), 3M (US), Plansee SE (Austria), Sandvik AB (Sweden), and Alvant Ltd (UK).
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Metal Matrix Composites (MMCs) Market Trends
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An increase in the use of MMCs for manufacturing structural aerospace composite parts is driving market growth
Fuel efficiency and low weight have always been the foremost factors for using MMC in making structural parts in the aerospace industry. Additionally, these composites have an excellent balance of specific strength and stiffness compared to traditional aerospace materials. The major applications of MMC are aero-structural components and parts in the aero-propulsion system, and its applications are increasing in aeronautical sub-systems with the development of new designs, production systems, and certifications of MMCs.
For instance, the Boeing 777 aircraft uses fan exit guide vanes in its Pratt and Whitney 4084, 4090, and 4098 engines made from aluminum MMC and nozzle actuator links in the General Electric F110 engine made from titanium MMC. Furthermore, a few applications of MMCs have been established in space systems, such as aluminum MMC tubes for the construction of each space shuttle orbital mid-fuselage, mid-frame, frame stabilizing struts, and nose landing gear, where dimensional stability with high performance is required.
The increasing demand for aircraft and the increased number of space missions from various space agencies are expected to drive the MMC market in aerospace applications in the future. This factor drives the Market CAGR.
Additionally, the increasing demand across the manufacturing industry and the growing trends towards handheld devices, smart devices, electronic gadgets, and electrical appliances are propelling manufacturers to adopt highly efficient materials for efficiency. Compared to other aerospace materials, metal matrix composites possess stiffness and specific strength, and the balance between the two is also at the right proportion. Such favorable characteristics promote the metal matrix composites' market value. After the COVID recovery, several industries have adopted advanced technologies and improved production rates. For instance, the Asia-pacific region had improved with an 11% growth in automotive production in one year.
Such vast improvement at the manufacturing and production facility is considered the major driver of metal matrix composites market growth. The growing opportunities in the developed countries under varied applications from various sectors such as aerospace, ground transportation, high-speed machinery, high-speed rotation shafts, crucial applications such as robots, and significant others present lucrative opportunities for the overall growth of the metal matrix composites industry during the forecast period. Thus, driving the Metal Matrix Composites (MMCs) market revenue.
Firefly Aerospace Inc., a Cedar Park, Texas-based end-to-end space transportation firm, signed an agreement with the U.S. Department of Defense (DOD) Defense Innovation Unit (DIU) in March 2024 to do a trade study on whether it can quickly launch Fireflyโs Elytra vehicles and support missions beyond xGEO โ geosynchronous orbit. The latter will lay the groundwork for up to two Firefly demonstration missions that will further the DODโs responsive access to xGEO.
Metal Matrix Composites (MMCs) Market Segment Insights
Metal Matrix Composites (MMCs) Product Type Insights
The ย Metal Matrix Composites (MMCs) market segmentation, based on product type, includes Aluminum, nickel, refractory, copper, and others. The aluminum segment dominated the market because of Aluminum's exceptional combination of properties, including its high strength, lightweight nature, excellent thermal conductivity, and good corrosion resistance. These qualities make Aluminum MMCs highly sought after in aerospace, automotive, and defense industries, where the demand for lightweight materials with superior mechanical properties is crucial. Additionally, aluminum is widely available and relatively cost-effective compared to alternative materials like Nickel or Refractory metals.
These factors contribute to Aluminum MMCs claiming the majority share in the Metal Matrix Composites market.
Figure1: ย Metal Matrix Composites (MMCs) Market, by Product Type, 2022&2032(USD billion)ย ย ย ย ย ย ย ย ย ย ย ย 
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Metal Matrix Composites (MMCs) End-Use Industry Insights
The ย Metal Matrix Composites (MMCs) market segmentation, based on end-use Industry, includes aerospace & defense, automotive, building & construction, marine, electronics, healthcare, and others. The automotive segment dominated the market due to the growing penetration of MMCs in applications, such as automotive brake pads, brake drums, rail brake discs, and others, as they offer superior properties. The increased demand for automotive and passenger vehicles ly is expected to drive the demand for high-performance MMCs in the transportation sector. Similarly, increased applications of MMCs in railway coaches and locomotives help to reduce maintenance costs and power consumption.
Metal Matrix Composites (MMCs) Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Metal Matrix Composites (MMCs) market area will dominate this market, owing to well-established automotive, transportation, and aerospace industries, and the increasing investments will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: METAL MATRIX COMPOSITES (MMCS) MARKET SHARE BY REGION 2022 (%)ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย 
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Europe Metal Matrix Composites (MMCs) market accounts for the second-largest market share due to the presence of established market players are expected to provide lucrative opportunities for the overall growth of the metal matrix composites industry. Further, the German Metal Matrix Composites (MMCs) market held the largest market share, and the UK Metal Matrix Composites (MMCs) market was the fastest-growing market in the European Region.
The Asia-Pacific Metal Matrix Composites (MMCs) Market is expected to grow fastest from 2023 to 2032. This is due to the adoption of high-end technologies, and cheap labor is expected to provide a favorable environment for the overall growth of the metal matrix composites industry. Moreover, ChinaโsMetal Matrix Composites (MMCs) market held the largest market share, and the Indian Metal Matrix Composites (MMCs) market was the fastest-growing market in the Asia-Pacific region.
Metal Matrix Composites (MMCs) Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Metal Matrix Composites (MMCs) market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Metal Matrix Composites (MMCs) industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the ย Metal Matrix Composites (MMCs) Industry to benefit clients and increase the market sector. In recent years, the Metal Matrix Composites (MMCs) industry has offered some of the most significant advantages to medicine.
Major players in the Metal Matrix Composites (MMCs) market, includingMaterion Corporation (US), Melrose Industries PLC (UK), 3M (US), Plansee SE (Austria), Sandvik AB (Sweden), Hitachi Metal Ltd (Japan), CPS Technologies Corporation (US), Tisics Ltd (UK), Ferrotec (USA) Corporation (US), Sumitomo Electrical Industry (Japan), Thermal Transfer composites LLC (US), Ametek Inc. (US) and Schmolz + Bickenbach Group (Germany), Ceramtec (Germany), and Alvant Ltd (UK)., and others, are attempting to increase market demand by investing in research and development operations.
The Plansee Group specializes in the processing of molybdenum and tungsten. Ceratizit processes tungsten carbide into tools: plan see processes molybdenum and tungsten metals into semi-finished products and components. Plansee Group signed a definitive agreement to acquire Mi-Tech Tungsten Metals. The acquisition will help Plansee Group expand its market position for tungsten products in North America.
Avant is a credit-first financial technology company* that provides access to innovative financial solutions, including personal loans and credit cards, that meet customersโ needs wherever they are on their financial journey. Alvant, a leading specialist in manufacturing aluminum matrix composites (AMC) materials, signed a Memorandum of Understanding for a strategic partnership with 3M to advance metal matrix composite technology for real-world applications.
Key Companies in the Metal Matrix Composites (MMCs) market include
- A Materion Corporation (US)
- DestsceEdelstaslwerke GmbH (Germany)
- Metal Matrix Cast Composites LLC (US)
Metal Matrix Composites MMCs Industry Developments
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Q2 2024: CPS Technologies Announces Opening of New Manufacturing Facility in Norton, MA CPS Technologies Corporation announced the opening of a new manufacturing facility in Norton, Massachusetts, dedicated to expanding production capacity for its metal matrix composite products.
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Q1 2024: Materion Expands Metal Matrix Composite Production with New Facility in Ohio Materion Corporation inaugurated a new production facility in Ohio to increase output of advanced metal matrix composites for aerospace and automotive applications.
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Q2 2024: GKN Powder Metallurgy Launches Next-Generation Aluminum Metal Matrix Composite for EV Applications GKN Powder Metallurgy introduced a new aluminum-based metal matrix composite designed for use in electric vehicle battery housings and structural components.
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Q2 2024: Coherent Corp. Announces Strategic Partnership with DWA Aluminum Composites USA Coherent Corp. entered into a strategic partnership with DWA Aluminum Composites USA to co-develop advanced metal matrix composite materials for aerospace and defense sectors.
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Q1 2025: CPS Technologies Wins Multi-Year Contract to Supply Metal Matrix Composites for Aerospace Manufacturer CPS Technologies secured a multi-year contract to supply metal matrix composite components to a leading aerospace manufacturer, expanding its presence in the sector.
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Q2 2025: Materion Appoints New Chief Technology Officer to Lead Metal Matrix Composite Innovation Materion Corporation announced the appointment of a new Chief Technology Officer to drive innovation in its metal matrix composite product portfolio.
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Q2 2024: Sumitomo Electric Industries Invests $30 Million in Metal Matrix Composite R&D Center Sumitomo Electric Industries announced a $30 million investment to establish a research and development center focused on advancing metal matrix composite technologies.
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Q3 2024: GKN Powder Metallurgy Signs Partnership Agreement with European Automotive OEM for MMC Components GKN Powder Metallurgy signed a partnership agreement with a major European automotive OEM to supply metal matrix composite components for next-generation vehicles.
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Q1 2025: DWA Aluminum Composites USA Launches New Line of High-Performance MMCs for Defense Applications DWA Aluminum Composites USA launched a new product line of high-performance metal matrix composites tailored for defense industry applications.
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Q2 2025: Coherent Corp. Receives Regulatory Approval for MMCs in Aerospace Thermal Management Systems Coherent Corp. received regulatory approval for its metal matrix composite materials to be used in aerospace thermal management systems.
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Q1 2024: CPS Technologies Raises $15 Million in Series B Funding to Expand MMC Production CPS Technologies completed a $15 million Series B funding round to expand its metal matrix composite manufacturing capabilities.
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Q3 2024: Materion Corporation Announces Acquisition of Specialty MMC Producer Materion Corporation announced the acquisition of a specialty metal matrix composite producer to strengthen its position in the advanced materials market.
Metal Matrix Composites (MMCs) Market Segmentation
Metal Matrix Composites (MMCs) Products Type Outlook
Metal Matrix Composites (MMCs) End-Use Industry Outlook
Metal Matrix Composites (MMCs) Regional Outlook
Report Attribute/Metric |
Details |
Market Size 2023 |
USD 224.82 billion |
Market Size 2024 |
USD 239.21 billion |
Market Size 2032 |
USD 369.29 billion |
Compound Annual Growth Rate (CAGR) |
5.58%(2024-2032) |
Base Year |
2023 |
Market Forecast Period |
2024-2032 |
Historical Data |
2018- 2022 |
Market Forecast Units |
Value (USD Billion) |
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
Product Type, End-Use Industry, and Region |
Geographies Covered |
North America, Europe, AsiaPacific, and the Rest of the World |
Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled |
ย Materion Corporation (US), Melrose Industries PLC (UK), 3M (US), Plansee SE (Austria), Sandvik AB (Sweden), Hitachi Metal Ltd (Japan), CPS Technologies Corporation (US), Tisics Ltd (UK), Ferrotec (USA) Corporation (US), Sumitomo Electrical Industry (Japan), Thermal Transfer composites LLC (US), Ametek Inc. (US) and Schmolz + Bickenbach Group (Germany), Ceramtec (Germany), and Alvant Ltd (UK) |
Key Market Opportunities |
The growing demand for lightweight materials in the automotive and aerospace industries is also projected to boost the growth. |
Key Market Dynamics |
The superior properties of MMCs are the major factor expected to drive growth. |
Metal Matrix Composites MMCs Market Highlights:
Frequently Asked Questions (FAQ):
The Metal Matrix Composites (MMCs) market size was valued at USD 224.82 Billion in 2023.
The market is projected to grow at a CAGR of 5.58% during the forecast period, 2024-2032.
North America had the largest share of the Metal Matrix Composites
The key players in the market areMaterion Corporation (US), Melrose Industries PLC (UK), 3M (US), Plansee SE (Austria), Sandvik AB (Sweden), Hitachi Metal Ltd (Japan), CPS Technologies Corporation (US), Tisics Ltd (UK), Ferrotec (USA) Corporation (US), Sumitomo Electrical Industry (Japan), Thermal Transfer composites LLC (US), Ametek Inc. (US) and Schmolz + Bickenbach Group (Germany), Ceramtec (Germany), and Alvant Ltd (UK).
The Aluminum Metal Matrix Composites (MMCs) category dominated the market in 2023.
Automotive had the largest share of the Metal Matrix Composites (MMCs) Market