Market Overview
Metamaterials refer to the specially engineered composites that exhibit unique electromagnetic properties, which are generally not found in naturally occurring materials. They do not derive their properties from the base materials but their newly designed structures and affect the flow of electromagnetic radiation or any other kind of wave.
As per the MarkNtel Advisors' research report, “Global Metamaterial Market Analysis, 2021”, the market is expected to grow at a CAGR of around 36% during 2021-26. The market growth is attributed to mounting R&D activities for various applications in different end-user industries such as aerospace & defense, consumer electronics, and telecommunication.
Further, the surge in the development of tunable and re-configurable artificial electromagnetic material aids the growth of the global metamaterial market. Furthermore, high metamaterial antennas usage in radars & smartphones could grow the metamaterial market globally.
| Report Coverage | Details |
| Study Period | Historical Data: 2016-20 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| Regions Covered | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa | |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The Covid-19 outbreak crisis and lockdown imposition by the government resulted in the closure of the majority of the economic activities. Presently, various end-users, including the aerospace and defense, telecommunication, and electronics industries, have a significant demand for metamaterials for different applications.
The Covid-19 pandemic halted the production process and disrupted the supply chain that further affected the overall demand & supply of the market. Furthermore, the shortage of laborers & raw materials also adversely affected the metamaterial market across the world.
Market Segmentation
Electromagnetic Materials Accounted for the Largest Market Share
Based on the material type, Electromagnetic materials secured the largest share in the Global Metamaterial Market in 2019. Electromagnetic material is specially structured for microwave and optical applications. It is extensively used in telecommunication applications while also in antenna, microwave coupler, band-pass filter, and lens manufacturing.
Therefore, the surge in usage of this electromagnetic material in various applications is likely to back the overall industry growth in the upcoming timeline, says MarkNtel Advisors in their research report, “Global Metamaterial Market Analysis, 2021.”
Antenna & Radar Segment Holds the Highest Market Share
Based on the Application, the Antenna & Radar segment dominated the Global Metamaterial Market in 2019 due to the burgeoning demand for antennas and radars in various applications, such as satellite communication, 5G communication, Wi-Fi routers, and radar communications. The use of antennas and radars has increased their productivity. Hence, the segment contributes to the overall metamaterial market growth.
Regional Landscape
North America Dominated the Metamaterial Market
Globally, North America has accounted for the majority of share in the Global Metamaterial Market in 2019 and is likely to maintain its dominance over the projection period. It is due to the rising demand for metamaterial in various end-user industries.
High demand from the aerospace and defense vertical is the key factor behind its growth. Further, there is a surge in government investments in laboratories, research institutes, and companies to improvise the R&D activities for developing metamaterial-based antennas and enhancing technologies, thereby propelling the market growth in the region.
Market Driver
Extensive end-user application fuels the growth of metamaterial market
Metamaterial exhibits unique properties derived from the structure of the constituent material. These authentic properties make metamaterials inherently valuable and operational for various applications, such as solar panels, medical imaging devices, windscreen, etc.
Metamaterials are used in the aerospace & defense industries to manufacture lightweight components; which various military communication applications can use. They also aid in manufacturing drones, antennas, and sensors, thereby augmenting the metamaterial market growth.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Metamaterial market are Keymeta Corporation, Echodyne Inc., Metasheild LLC., Plasmonic Inc., Multiwave Technologies AG, Nanohmics Inc., Phoebus Optoelectronics LLC, Metamagnetic Inc., Multiwave Metacrystal, Metamaterial Technologies, Inc., Phononic Vibes, Transsip, Inc, Radi-Cool, Jem Engineering, LLC, Aegis Technologies.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What is the historical year, base year, and forecast year considered in the research report on Global Metamaterial Market?
A. The historical data has been provided since 2016, while 2020 is the base year, and the data forecast is up to 2026.
Q. What are the units or denomination for measuring market value in the report?
A. USD Million is the unit for measuring the market/industry size or the market value.
Q. What would be the growth rate/CAGR of the Global Metamaterial Market during 2021-26?
A. The Global Metamaterial Market is likely to grow at a CAGR of 36% during 2021-26.
Q. Who are the key competitors/players operating in Global Metamaterial Market?
A. Keymeta Corporation, Metasheild LLC., Multiwave Technologies AG, Plasmonic Inc., Nanohmics Inc., Phoebus Optoelectronics LLC, Metamagnetic Inc., Metamaterial Technologies, Inc., Multiwave Metacrystal, Echodyne Inc., Phononic Vibes, Transsip, Inc, Aegis Technologies, Radi-Cool, Jem Engineering, LLC, are a few of the key leaders in the Global Metamaterial Market.
Q. Which material type segment would emerge as an opportunity area for players in Global Metamaterial Market?
A. Electromagnetic material is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Metamaterial Market?
A. North America continues to grow at the highest CAGR between 2021-26, thereby offering extensive opportunities for various industry players of the Global Metamaterial Market.
