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Report explores the Global metamaterials market to grow at a CAGR of 21.6% by 2022

The scientific technology of metamaterials has been constantly evolving significantly over the period of time. Metamaterials are artificially structured materials used to control and manipulate light, sound, and many other physical phenomena. They are generally a synthetic composite material with a structure whose properties are derived both from the inherent properties of their constituent materials, as well as from the geometrical arrangement of those materials.

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The metamaterials market is estimated to reach $1.43 billion by 2022. Increasing usage of metamaterials in research and development, superior properties of metamaterials over conventional materials, and high demand from various end-use industries are some of the major factors which has contributed to the overall market growth.

High production cost associated with metamaterials is one of the major factors hampering the growth of metamaterials. However, tremendous potential for growth end-use applications, huge investment by government and federal agencies, and growing demand from emerging economies such as China and Brazil is expected to create opportunities in the metamaterials market.

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The global metamaterials market in terms of value is estimated to witness a growth at a CAGR of 21.6% between 2016 and 2022. This growth in the market is attributed to their   increasing usage of metamaterials in research and development, superior properties of metamaterials over conventional materials, and high demand from various end-use industries such as telecommunication, aerospace & defense, and medical instrumentation.

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The engineered materials composed of designed inclusions exhibit exotic and unique electromagnetic properties not inherent in the individual constituent components. These artificially structured composites, known as metamaterials.

Metamaterials are artificial composites that acquire their electromagnetic properties from embedded sub wavelength metallic structures.

The report is a compilation of various segmentations including market breakdown by metamaterial type, product type, end-use applications, and different geographical regions. It also includes sections on competitive insights and market dynamics.

Herein the revenue generated from metamaterials is tracked to calculate the market size.

While highlighting the key driving and restraining forces for this market, the report also provides a comprehensive section of the application areas of the metamaterials market. It also examines the role of the leading market players involved in this market.

Electromagnetic based metamaterials dominated the global metamaterials market. Electromagnetic metamaterials dominated the global metamaterials market with a share of approximately 58.00% in the 2015.

The metamaterials cater to the impending demand of a number of application verticals which is the major reason behind their biggest market share. This category is growing at a slow pace because of the shift in the trends of metamaterials usage towards applications with different frequency bands.

The widespread application of metamaterials in antennas accounted for a major share of the global metamaterials market in 2015. Metamaterial based antennas exhibit specific features which are not funded in the conventional materials since they control the direction of radiation, improve efficiency, and improve bandwidth performance of the antenna.

Some of the important features of these composite structures are in antenna substrate, feed networks, phased array antennas, ground planes, and antenna radomes and struts invisibility.

Telecommunication segment dominated the global metamaterials market in 2015. This dominance is expected in the market due to the increase in use of metamaterials in telecommunication application as it provides high tuneable directivity, tunable operational efficiency, improved bandwidth and increased radiated power by radiating almost 95% of the input signal.

North America has the largest market share in the metamaterials market. The major part of the North America’s major share is contributed by the U.S. which accounts for almost 86% of the total revenue generated in 2015. This is because of the presence of highly advanced research institutes, academia, multinational industrial corporations and aerospace and defense manufacturers, which have been providing the necessary impetus to the North American metamaterials market.

Some of the key players in this industry are Applied Em, Jem Engineering, Kymeta Corporation, Metamagnetics, Metamaterial Technologies Inc., Teraview Limited, Fractal Antenna Systems Inc., KuangChi Science Limited, and Echodyne Inc. These companies are actively aiming for an increased number of agreements, partnerships, collaborations, & contracts and products to expand their operations thereby enhancing their share in the metamaterials market.

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