Metamaterials Market to Cross $13.87 billion Revenue by 2030

Metamaterials Market Overview

“The Metamaterials Market Predictable at $0.256 billion in 2022, is estimated to increase at a CAGR of 31.25% from $1.30 billion in 2023 to $13.87 billion by 2030.”

Metamaterials are artificial substances with unique properties due to their structure, resulting in adaptable dimensions, shapes, geometries, and orientation. The arrangement of these components affects the electromagnetic radiation of the resulting metamaterial, resulting in unique properties like negative permeability and permittivity, unlike regular materials.

Metamaterials, due to their enhanced electromagnetic properties, are utilized in various industries like automotive, consumer electronics, and medical fields. Their increasing use in these sectors is expected to boost market revenue.

Growth Factors

The rise in metamaterial requests is attributed to the decline in high-end military, aerospace, and defense operations, as well as the growing demand from communication antenna producers, which will further fuel their growth.

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Key Takeaways

Geographically speaking, North America will dominate the global market in 2022 with a revenue share of over 42.8%.

The electromagnetic section generated more than 30% of revenue share in 2022 when broken down by product.

According to application, the antenna & radar segment will have the most revenue share in 2022, at about 43%.

According to end-use in 2022, the aerospace and defense segments provided more than 34% of total revenue.

Market Dynamics

Growth Drivers

The aerospace and defense industries are in high demand

The aerospace and defense industries are experiencing high demand for improved antenna technology for effective communications in the digital battlefield. These sectors rely on reliable, efficient, and real-time communications for network-centric operations. Antennas are essential components of defense, aerospace, and military systems, used in radars for accurate target tracking. The market for military antennas is expected to grow due to increased border infiltration, terrorist activity, global wars, and attack-prone frontiers.

Nations invest in their defense industry to maintain peace and security. Governments allocate funds annually to the military sector. The aerospace and defense sectors are experiencing a "supercycle" with massive order backlogs, which could drive industry growth over the next decade. This increase in metamaterials demand is expected to be a key market driver.

Increased Communication Antenna Use

Microwave applications have gained attention in the telecommunications sector due to the production of exotic electromagnetic signals by engineering metamaterials. These materials, with refractive properties like left-handed substance (LHM) and negative refractive index (NRI), are essential for designing effective antennas and microwave components. Loop antennas are wrapped in a negatively permeable metamaterial shell for magnetic induction communication systems. These systems can achieve an acceptable data rate and communication range of approximately 20 meters with a tiny loop antenna. However, using these materials in far-off locations can negatively impact connections.

Metamaterials are being used in antennas to create smaller, more focused antennas with a bandwidth of 700 MHz to 2.7 GHz. Wide-angle impedance matching (WAIM) technology research is proving the superior wide-angle impedance of metamaterials. The use of metamaterials in 5G antennas is also increasing. The metamaterial market is expected to grow in applications such as antimissile systems, ocean surveillance, space surveillance, aircraft anti-collision systems, and air-defense systems.

Restraint

The price of synthesizing metamaterials

Metamaterial synthesis is a time-consuming and crucial operation, requiring advanced R&D spending and modern equipment. Tools for creating intricate three-dimensional design structures at the micro- and nanoscale, as well as structures with multiple constituent materials, are used. Recently, additive manufacturing has been explored as a potential production method.

Metamaterials are produced using expensive nanoparticles in the EPD procedure, which deposits charged nanoparticles onto a substrate using electric fields. Large-scale manufacturing is still in its infancy due to limited applications. Companies worldwide produce metamaterials on a small to medium scale due to high manufacturing costs, limiting the market's potential due to a lack of accessible technology for generating metamaterials in large commercial quantities.

Opportunities

A Rise in Wireless Mobile Communication Demand

The demand for wireless mobile communication systems has increased significantly over the past decade, with the introduction of the fourth generation (4G) of wireless communication systems worldwide since 2010. The number of intelligent and diverse devices accessing the internet is predicted to rise exponentially due to the expansion of internet traffic. Metamaterials can improve the spectral and energy efficiency of wireless communication systems.

The 5G wireless communication technologies are set to begin in 2021, with peak data speeds of up to 10 Gbps within 8-10 bps/Hz/cell. The COVID-19 pandemic may cause delays. As the telecommunications industry expands, a new era of communication devices is expected. Metamaterial-based design of big antennas and reflective reflectors are being increasingly used in 5G technology components, enhancing signal propagation and paving the way for a more efficient and reliable network.

The rise of IoT, mobile media, and autonomous cars is expected to increase the use of metamaterials in wireless communication systems. These materials are ideal for small, efficient components in mobile communications, transforming all wireless and mobile technologies. The industry will be driven by the adoption of metamaterial components in the future.

The demand for metamaterials is expected to increase due to significant investments by private and public players, particularly in the healthcare and telecommunications industries. Due to their rarity, they are commonly used in metamaterial lenses, detectors, and antennas, with the growing demand for grapheme-grounded metamaterials in the medical sector boosting this demand.

Competitive Landscape of the Metamaterials Market

• Metaboards Limited
• TeraView
• Nano-Meta Technologies, Inc.
• Metamaterial Technologies Inc.
• Palo Alto Research Center Incorporated
• Advanced Research Projects Agency 
• Fractal Antenna Systems Inc.
• Kymeta Corporation
• JEM Engineering
• Acoustic Metamaterials Group Ltd
• Metamagnetics Inc.
• Echodyne, Inc.

Recent Developments in Metamaterials Market

In June 2018 - Meta boards Limited (UK based start-up) through an investment round raised US$ 5 million for developing advanced 

In April 2022 – Meta Materials Inc. acquired Plasma App Ltd. Plasma App developed a technology enabling high-speed coating of solid materials. Meta Materials Inc. will apply this technology in its production process for NANOWEB films and also for KolourOptik security films.

August 2022 - FirstEnergy Stadium used Evolv Technology's systems, data, and analytics to improve public safety and fan experiences. Evolv Technology (NASDAQ: EVLV, "Evolv") is the world leader in AI-powered weapons detection security screening.

February 2022 - Echodyne announced a new strategic agreement with Northrop Grumman Corporation (NYSE: NOC) that expands upon existing efforts to integrate Echodyne radars into select Northrop Grumman advanced defense and security solutions.

Regional Insights

Market Dominance by North America

The global metamaterials market is divided into North America, Europe, Asia-Pacific, and SAMEA geographical segments. North America holds the highest market share, projected to grow at a CAGR of 31.9%. The US is the largest aerospace market, with the FAA predicting a 36,500 aircraft fleet by 2030 due to increased air freight. The US mainliner carrier fleet is expected to increase by 54 aircraft annually. The industry's growth is fueled by high US consumer spending and strong exports to countries like France, China, and Germany.

The US defense budget reached an all-time high of USD 716.2 billion in FY 2021, marking an increase from USD 721.5 billion in FY 2020. This increase is attributed to the current administration's readiness to boost military hardware production and maintain the US's global position. The demand for metamaterials is expected to rise due to these trends in the aerospace and defense industries.

The Asia-Pacific region is expected to generate USD 1,600 million by 2030, with a 31.7% CAGR. China, the world's largest defense spending country, is committed to completing the People's Liberation Army by 2035 and transforming it into a world-class military by 2049. The country's electronics manufacturing base is also expected to grow, with middle-class populations' disposable incomes and demand for electronics increasing. This growth is expected to stimulate the metamaterials market in the region.

Segments Covered in the Metamaterials Market

Metamaterials Market By Product

• Electromagnetic
• Terahertz
• Tunable
• Photonic
• Frequency Selective Surface (FSS)

Metamaterials Market By Application

• Antenna and Radar
• Sensors
• Cloaking Devices
• Super Lens
• Light
• Sound Filtering

Metamaterials Market By End Use

• Healthcare
• Telecommunication
• Aerospace and Defense
• Electronics
• Automotive

Metamaterials Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Frequently Asked Questions

What is the metamaterials market size?

Metamaterials Market Predictable at $0.256 billion in 2022, is estimated to increase at a CAGR of 31.25% from $1.30 billion in 2023 to $13.87 billion by 2030.

What will be the CAGR of global metamaterials market?

The global metamaterials market is poised to grow at a CAGR of 31.25% from 2023 to 2030.

Who are the prominent players operating in the metamaterials market?

The major players operating in the metamaterials market are Acoustic Metamaterials Group Ltd, Metamagnetics Inc., Echodyne, Inc., Advanced Research Projects Agency , Fractal Antenna Systems Inc., Kymeta Corporation, JEM Engineering, Metaboards Limited, TeraView, Nano-Meta Technologies, Inc., Metamaterial Technologies Inc., Palo Alto Research Center Incorporated and Others.

Which are the driving factors of the metamaterials market?

The driving factors of the metamaterials market are the increasing prevalence of RTA, huge number of people belonging to the geriatric population and Plastic & plastic surgery procedures.

1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

3. Executive Summary

3.1. Market Snapshot

4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

5. COVID 19 Impact on Metamaterials Market 

5.1. COVID-19 Landscape: Metamaterials Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

8. Global Metamaterials Market, By Product

8.1. Metamaterials Market, by Product, 2022-2030

8.1.1 Electromagnetic

8.1.1.1. Market Revenue and Forecast

8.1.2. Terahertz

8.1.2.1. Market Revenue and Forecast

8.1.3. Tunable

8.1.3.1. Market Revenue and Forecast

8.1.4. Photonic

8.1.4.1. Market Revenue and Forecast

8.1.5. Frequency Selective Surface (FSS)

8.1.5.1. Market Revenue and Forecast

9. Global Metamaterials Market, By Application

9.1. Metamaterials Market, by Application, 2022-2030

9.1.1. Antenna and Radar

9.1.1.1. Market Revenue and Forecast

9.1.2. Sensors

9.1.2.1. Market Revenue and Forecast

9.1.3. Cloaking Devices

9.1.3.1. Market Revenue and Forecast

9.1.4. Super lens

9.1.4.1. Market Revenue and Forecast

9.1.5. Light

9.1.5.1. Market Revenue and Forecast

9.1.6. Sound Filtering

9.1.6.1. Market Revenue and Forecast

10. Global Metamaterials Market, By End Use 

10.1. Metamaterials Market, by End Use, 2022-2030

10.1.1. Healthcare

10.1.1.1. Market Revenue and Forecast

10.1.2. Telecommunication

10.1.2.1. Market Revenue and Forecast

10.1.3. Aerospace and Defense

10.1.3.1. Market Revenue and Forecast

10.1.4. Electronics

10.1.4.1. Market Revenue and Forecast

10.1.5. Automotive

10.1.5.1. Market Revenue and Forecast

11. Global Metamaterials Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Product

11.1.2. Market Revenue and Forecast, by Application

11.1.3. Market Revenue and Forecast, by End Use

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Product

11.1.5.2. Market Revenue and Forecast, by Application

11.1.5.3. Market Revenue and Forecast, by End Use

11.2. Europe

11.2.1. Market Revenue and Forecast, by Product

11.2.2. Market Revenue and Forecast, by Application

11.2.3. Market Revenue and Forecast, by End Use

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Product

11.2.7.2. Market Revenue and Forecast, by Application

11.2.7.3. Market Revenue and Forecast, by End Use

11.3. APAC

11.3.1. Market Revenue and Forecast, by Product

11.3.2. Market Revenue and Forecast, by Application

11.3.3. Market Revenue and Forecast, by End Use

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Product

11.3.7.2. Market Revenue and Forecast, by Application

11.3.7.3. Market Revenue and Forecast, by End Use

11.4. MEA

11.4.1. Market Revenue and Forecast, by Product

11.4.2. Market Revenue and Forecast, by Application

11.4.3. Market Revenue and Forecast, by End Use

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Product

11.4.4.2. Market Revenue and Forecast, by Application

11.4.4.3. Market Revenue and Forecast, by End Use

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Product

11.4.7.2. Market Revenue and Forecast, by Application

11.4.7.3. Market Revenue and Forecast, by End Use

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Product

11.5.2. Market Revenue and Forecast, by Application

11.5.3. Market Revenue and Forecast, by End Use

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Product

11.5.5.2. Market Revenue and Forecast, by Application

11.5.5.3. Market Revenue and Forecast, by End Use

12. Company Profiles

12.1. Acoustic Metamaterials Group Ltd

12.2. Metamagnetics Inc.

12.3. Echodyne, Inc.

12.4. Advanced Research Projects Agency

12.5. Fractal Antenna Systems Inc.

12.6. Kymeta Corporation

12.7. JEM Engineering

12.8. Metaboards Limited

12.9. TeraView

12.10. Nano-Meta Technologies, Inc.

13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

14. Appendix

14.1. About Us

14.2. Glossary of Terms

Segments Covered in the Metamaterials Market

Metamaterials Market By Product

• Electromagnetic
• Terahertz
• Tunable
• Photonic
• Frequency Selective Surface (FSS)

Metamaterials Market By Application

• Antenna and Radar
• Sensors
• Cloaking Devices
• Super Lens
• Light
• Sound Filtering

Metamaterials Market By End Use

• Healthcare
• Telecommunication
• Aerospace and Defense
• Electronics
• Automotive

Metamaterials Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Research Methodology