DUBLIN--(BUSINESS WIRE)--The "Metamaterial Market by Material Type (Electromagnetic, Terahertz, Photonic, Tunable, FSS, and others), Application (Communication Antenna, Windscreen, Solar Panel, sensors, Display, and Medical Imaging), Vertical and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The metamaterial market was valued at USD 305 million in 2021 and is projected to reach USD 1,457 million by 2026. It is expected to grow at a CAGR of 36.7% during the forecast period.
The variety in design functionalities, anti-laser coating application, and developments in radar and LiDAR for autonomous vehicles, the use of metamaterials in solar power systems, metamaterial-based radar for drones, and advancements in 5G are the key factors driving the growth of metamaterial market.
Based on the applications, communication antenna and radar (beam Steering) to account the largest share during 2021-2026.
The communication antenna and radar (beam Steering) segment is estimated to account for the largest size of the metamaterial market in 2021. Increasing demand for communication antennas for applications such as satellite communication, Wi-Fi routers, radar communication, and 5G communications is the major factor fueling the growth of the metamaterial market for communication antenna and radar application. Antennas that use metamaterials to increase or enhance the performance of their systems are called metamaterial communication antennas. As metamaterials can have a negative magnetic permeability, these materials allow antennas to have properties such as electrically small size, high directivity, tunable operational efficiency along with increased radiated power, and improved bandwidth efficiency performance.
Electromagnetic to account for the largest share during the forecast period.
Based on technology, the metamaterial market has been segmented into electromagnetic, terahertz, photonic, tunable, frequency selective surface-based metamaterials, and others (non-linear metamaterials, mechanical metamaterials, and acoustic metamaterials). The electromagnetics segment is estimated to account for the largest size of the metamaterial market in 2021 in terms of value. Electromagnetic metamaterials are expected to be used extensively for communication applications, including new forms of metamaterials-enabled personal communications satellites and radar.
Aerospace and defense vertical to account for the largest share of the metamaterial market during the forecast period
The aerospace and defense segment is estimated to account for the largest size of the metamaterial market in 2021 in terms of value. In the aerospace & defense vertical, the majorly adopted metamaterial-based devices are antennas, protective layers, windscreens, EMC shielding, and cloaking devices. Antennas based on metamaterials can be used for secure communications in the defense vertical as these can be tuned to different frequencies. The growth of the metamaterial market for aerospace and defense vertical is owing to the growing bandwidth requirement and need for secure communication.
Market Dynamics
Drivers
- Variety in Design Functionalities
- Anti-Laser Coating Application
- Developments in Radar and Lidar for Autonomous Vehicles
Restraints
- Cost of Synthetization of Metamaterials
Opportunities
- Use of Metamaterials in Solar Power Systems
- Metamaterial-Based Radar for Drones
- Advancements in 5G
Challenges
- Unavailability of Technology for Mass Production of Metamaterials
- Hindrances in Supply Chain of Materials and Devices Due to COVID-19
Companies Mentioned
- Aegis Technologies
- Applied EM
- Echodyne Inc.
- Jem Engineering, LLC
- Kymeta Corporation
- Mediwise
- Metaboards
- Metamagnetics, Inc.
- Metamaterial Technologies, Inc.
- Metashield LLC
- Metasonixx
- Metawave
- Multiscale Systems
- Multiwave Metacrystal
- Multiwave Technologies Ag
- Nanohmics, Inc.
- Phoebus Optoelectronics, LLC
- Phononic Vibes
- Pivotal Commware
- Plasmonics, Inc.
- Radi-Cool
- Sensormetrix
- Sonobex Limited
- Teraview
- Transsip, Inc
For more information about this report visit https://www.researchandmarkets.com/r/yyj03d
