Global Metamaterial Market to Rise at a CAGR of 28.1% During 2024-2032, Driven by the Rising R&D Activities

Increasing demand for communication appliances and products and the growing use of solar energy are driving the metamaterial market. An increase in research and development activities in the industry is aiding the market growth potential. Additionally, there is increasing investment by the government in the sector. Advancement in 5G technology provides flexible connectivity. Rising investment by the key players in the market, such as Metamaterial Technologies Inc. and Metaboards, among others, is leading to market growth of the industry. The use of metamaterials in several sectors such as aerospace and defence, automotive, medical, and other segments are driving the market growth.

Various uses of metamaterials in different sectors are driving market growth. Metamaterial in the medical industry enhances the sensitivity of MRI machines. Metamaterials transmit high wattages over long distances and substantially improve the efficiency of lower-power wireless charging systems. Increased use of metamaterials in solar power systems and radar for drones leads to the industry's growth. In October 2021, Metamaterial Technologies Inc. (NASDAQ: MMAT), a developer of high-performance functional materials and nanocomposites, announced that it had completed the acquisition of Nanotech Security Corp.

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Market Analysis by Product, Application, End-Use, and Region:

• The market, based on product, can be divided into electromagnetic, terahertz, photonic, tunable, frequency selective surface, and non-linear.
• The industry can be divided into applications into antenna, absorber, superlens, and cloaking devices, among others.
• The end-uses for metamaterial include aerospace and defence, medical, automotive, consumer electronics, energy, and power.
• The regional markets for metamaterial include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

• Advancement in 5G technology and communication satellites is driving the demand for the metamaterial industry.
• Increasing defence budget in countries is offering growth opportunities in forecast years.
• Increasing investment in telecommunication technologies is leading to the growth of the market.
• The wide use of metamaterial-based radar for drones is aiding the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global metamaterial industry for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product, application, end-use, and regions of the metamaterial.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global metamaterial market are Metamaterial Technologies Inc., Metaboards, and Nahsai, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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