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.
“Electromagentic 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 electromagentics 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.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the metamaterial marketplace.
- By Company Type: Tier 1 – 56%, Tier 2 – 23%, and Tier 3 – 21%
- By Designation: C-Level Executives – 75% and Managers – 25%
- By Region: North America – 40%, Europe – 23%, APAC – 26%, and RoW – 11%
Kymeta Corporation (US), Metamaterial Technologies Inc. (Canada), Metamagnetics (US), Jem Engineering (US), Teraview (UK), Echodyne Inc. (US), Multiwave (Europe), Nanohmics Inc. (US), Metashield LLC (US), and Mediwise (UK). are the key players in the metamaterial market. These top players have strong portfolios of metamaterials and related applications if end-use verticals.
The study includes an in-depth competitive analysis of these key players in the metamaterial market, with their company profiles, recent developments, and key market strategies.
Research Coverage
The report defines, describes, and forecasts the metamaterial market based on technology, application, vertical, and geography. It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the metamaterial market. It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments carried out by the key players to grow in the market.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall metamaterial market and the sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
