Global Metamaterials Market to Face Rapid Expansion Across Industries

December 19, 2018

WELLESLEY, Mass., Dec. 19 – While the commercial metamaterials market in 2017 was concentrated in manufacturing, mining, concrete mixing, offshore/marine and power-generation applications, the market is expected to expand toward a more diverse range of applications by 2028; these end-use applications include healthcare, electronics/IT, communications, energy and transport, according to the report “Metamaterials: Technologies and Global Markets.”

According to BCC Research, the global metamaterials market was valued at $448.0 million in 2018 and is expected to reach $1.8 billion by 2023 at a compound annual growth rate (CAGR) of 32.0% from 2018 to 2023.

Key players in the market include Rayspan Inc., Echodyne Inc., Metawave Corp., BAE Systems (BAESF), Kymeta Corp., Fractal Antenna Systems, Metamaterial Tech, Lockheed Martin (LMT), Boeing (BA), Raytheon (RTN), Harris Corp. (HRS), Kyocera Wireless, EMW and Samsung.

Research Highlights:

• The market for 4G equipment was worth an estimated $54.0 billion in 2017, and this is projected to approach nearly $55.1 billion in 2018. By 2023, 5G technology will have begun to replace 4G, and the combined market for the two technologies should reach $67.9 billion. 
• Artificial dielectrics are expected to begin penetrating the airborne antennas segment between 2018 and 2023. BCC Research believes that, by 2023, artificial dielectrics may account for 15% of the total airborne antenna materials market. 
• By 2028, Transportation should account for 43.1% of the metamaterials market by 2028, followed by communications (14.0%) and healthcare (5.2%).

“Artificial dielectric metamaterials have important potential applications in airborne radar and communications, as indicated by a call put out by the U.S. Air Force for applied metamaterials for antennas,” said BCC Research analyst Andrew McWilliams. “The goal is to demonstrate materials that would impact a variety of antenna parameters including: beam shaping and steering/lobe control; enhanced center frequency tuning range; enhanced bandwidth; reduction in antenna size/weight/thickness; and enablers for conformal, flexible antenna designs.”

Potential Negatively Refractive Metamaterials Applications

While considerable research and development must to be done before negative-refraction metamaterials are ready for commercial use, a number of potential applications appear promising, including optical microscopy, data storage and photolithography.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Metamaterials: Technologies and Global Markets( AVM067E )
Publish Date: Dec 2018    

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.