Market Size of Metamaterials Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 24.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Metamaterials Market Analysis
The Metamaterials Market is expected to register a CAGR of over 24% during the forecast period.
COVID-19 had a negative impact on the market. The Metamaterials Market was negatively affected due to the suspension of several ongoing projects and low investments in the automotive, defense, aerospace, and electronics industries. However, the market gained momentum in 2021 and was expected to grow at a healthy rate.
- One of the major factors driving the use of metamaterials is increasing R&D activities for various applications in the aerospace and defense, telecommunication, and consumer electronics end-user industries, among others.
- On the contrary, the inadequate infrastructure for large quantities of metamaterials and a lack of awareness of the benefits of metamaterials are likely to hamper the market growth.
- The use of metamaterials in solar systems and metamaterial-based radars for drones will likely act as opportunities for the market studied.
- North America dominated the market globally. However, the Asia-Pacific region is expected to register the highest CAGR during the forecast period.
Metamaterials Industry Segmentation
Metamaterials are engineered composites designed to alter the electromagnetic properties of materials to obtain responses that are not observed naturally.
The Metamaterials Market is segmented by type, application, end-user industry, and geography. By type, the market is segmented into electromagnetic, terahertz, tunable, photonic, FSS, and other types. By application, the market is segmented into antenna and radar, sensors, cloaking devices, superlens, light and sound filtering, and other applications. By end-user industry, the market is segmented into healthcare, telecommunication, aerospace and defense, electronics, and other end-user industries. The report also covers the size and forecasts for the market in 16 countries across major regions. The report offers market size and forecasts for all the above segments in terms of revenue (USD million).
| Type | |
| Electromagnetic | |
| Terahertz | |
| Tunable | |
| Photonic | |
| FSS | |
| Other Types (Chiral, Nonlinear, etc.) |
| Application | |
| Antenna and Radar | |
| Sensors | |
| Cloaking Devices | |
| Superlens | |
| Light and Sound Filtering | |
| Other Applications (Solar, Absorbers, etc.) |
| End-user Industry | |
| Healthcare | |
| Telecommunication | |
| Aerospace and Defense | |
| Electronics | |
| Other End-use Industries (including Optics) |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Metamaterials Market Size Summary
The metamaterials market is poised for significant growth, driven by increasing research and development activities across various sectors such as aerospace, defense, telecommunications, and consumer electronics. Despite the initial setbacks caused by the COVID-19 pandemic, which led to project suspensions and reduced investments, the market has regained momentum and is expected to expand robustly. The primary application of metamaterials in industries like aerospace and defense is fueled by the demand for advanced devices such as antennas and cloaking devices, which are essential for secure communications and enhanced bandwidth. However, challenges such as inadequate infrastructure and limited awareness of metamaterials' benefits may hinder market growth. Opportunities are emerging in the form of metamaterial-based radars for drones and solar systems, which could further propel market expansion.
Regionally, North America currently leads the global market, but the Asia-Pacific region is anticipated to experience the highest growth rate during the forecast period. This growth is supported by increased government investments in defense and technology modernization in countries like China, India, and South Korea. The electronics sector's rapid advancement also contributes to the rising demand for metamaterials, with significant production in countries like India and Japan. The market remains partially fragmented, with key players such as Kymeta Corporation, Meta Materials Inc., and Echodyne Corp. actively participating in innovation and expansion efforts. Recent developments, such as the establishment of a new headquarters by Meta Materials Inc. and Echodyne Corp.'s plans to test metamaterials-based radars, highlight the dynamic nature of the market and its potential for future growth.
Metamaterials Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 Increasing R&D Investments for Various Applications
-
1.1.2 Other Drivers
-
-
1.2 Restraints
-
1.2.1 Lack of Awareness of Benefits of Metamaterials
-
1.2.2 Cost of Synthesization of Metamaterials
-
-
1.3 Industry Value Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
1.5 Patent Analysis
-
-
2. MARKET SEGMENTATION (Market Size in Value)
-
2.1 Type
-
2.1.1 Electromagnetic
-
2.1.2 Terahertz
-
2.1.3 Tunable
-
2.1.4 Photonic
-
2.1.5 FSS
-
2.1.6 Other Types (Chiral, Nonlinear, etc.)
-
-
2.2 Application
-
2.2.1 Antenna and Radar
-
2.2.2 Sensors
-
2.2.3 Cloaking Devices
-
2.2.4 Superlens
-
2.2.5 Light and Sound Filtering
-
2.2.6 Other Applications (Solar, Absorbers, etc.)
-
-
2.3 End-user Industry
-
2.3.1 Healthcare
-
2.3.2 Telecommunication
-
2.3.3 Aerospace and Defense
-
2.3.4 Electronics
-
2.3.5 Other End-use Industries (including Optics)
-
-
2.4 Geography
-
2.4.1 Asia-Pacific
-
2.4.1.1 China
-
2.4.1.2 India
-
2.4.1.3 Japan
-
2.4.1.4 South Korea
-
2.4.1.5 Rest of Asia-Pacific
-
-
2.4.2 North America
-
2.4.2.1 United States
-
2.4.2.2 Canada
-
2.4.2.3 Mexico
-
2.4.2.4 Rest of North America
-
-
2.4.3 Europe
-
2.4.3.1 Germany
-
2.4.3.2 United Kingdom
-
2.4.3.3 Italy
-
2.4.3.4 France
-
2.4.3.5 Spain
-
2.4.3.6 Rest of Europe
-
-
2.4.4 South America
-
2.4.4.1 Brazil
-
2.4.4.2 Argentina
-
2.4.4.3 Rest of South America
-
-
2.4.5 Middle-East and Africa
-
2.4.5.1 Saudi Arabia
-
2.4.5.2 South Africa
-
2.4.5.3 Rest of Middle-East and Africa
-
-
-
Metamaterials Market Size FAQs
What is the current Metamaterials Market size?
The Metamaterials Market is projected to register a CAGR of greater than 24% during the forecast period (2024-2029)
Who are the key players in Metamaterials Market?
Kymeta Corporation, Echodyne Corp., TeraView Limited, NKT Photonics A/S and Meta Materials Inc. are the major companies operating in the Metamaterials Market.
