Global metamaterial market is expected to rise from its initial estimated value of USD 80.21 million in 2018 to an estimated value of USD 4046.67 billion by 2026, registering a CAGR of 63.25% in the forecast period of 2019-2026. Increasing demand from different end- industries is the major factor for the growth of this market.
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Metamaterial are the semiconductors whose properties are usually depend on inter-atomic structures. They are widely used in application in communication antenna, sensing, solar panel, display, medical imaging, windscreen, and others. In order to develop more meta material products to absorb light from spectrums, many research and developments are underway. They also expand the range of interactions and can affect the magnetic materials.
- Increasing demand from industries like aerospace and defence is driving the market
- Growing usage of antennas for communication is driving market
- High cost of manufacturing metamaterial is restraining the market.
- Lack of technologies for the manufacturing of metamaterial is restraining the growth of this market.
Key Developments in the Market:
- In September 2017, Kymeta announced the launch of their metamaterials based flat-panel antennas which are available in eight different platforms and in five different vertical. They will be used in trains, buses, boats and automobiles, construction sites etc. The main aim is to improve the performance by making it smaller and lighter.
- In December 2018, Lawrence Livermore National Laboratory (LLNL) announced the launch of their new class of metamaterial combining 3D printing with a magnetic ink injection. The main aim is to create a wall that can support injected fluids.
Major Market Competitors/Players
Few of the major competitors currently working in metamaterial market are Kymeta, Metamaterial Technologies, JEM Engineering, Echodyne, MWO BV, Mediwise, MetaShield, NanoSonic, Plasmonics, Inc., Phoebus Optoelectronics LLC, The AEgis Technologies Group, Metamagnetics, TeraView Limited., Nanohmics, Inc., Fractal Antenna Systems, Inc., Protemics GmbH, Sonobex Limited.
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Global metamaterial market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of metamaterial market for global, Europe, North America, Asia Pacific and South America.
Segmentation: Global Metamaterial Market
- By Material Type
- Electromagnetic Metamaterials
- Double Negative Metamaterials
- Single Negative Metamaterials
- Electronic Bandgap Metamaterial
- Double Positive Medium
- Bi-Isotropic and Bi-Anisotropic Metamaterials
- Chiral Metamaterials
- Terahertz Metamaterials
- Photonic Metamaterials
- Tunable Metamaterials
- Frequency Selective Surface
- Upcoming Applications
- Non – Linear Metamaterials
- Acoustic Metamaterial
- By Applications
- Communication Antenna
- Sensing, Solar Panel
- Display, Medical Imaging
- Upcoming Application
- Invisible Cloaking
- Acoustic Cloaking
- Acoustic Sensor
- EMC Shielding
- Strain Sensor
- Hyper Spectral Imaging
- Near-Field Optical Microscopy
- By Vertical
- Aerospace and Defense
- Consumer Electronics
- Energy and Power
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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