Published by Coherent Market Insights
Posted on September 27, 2021
4 min readLast updated: February 2, 2026
Europe's metamaterials market faces slow growth due to a decline in the automotive sector, while Asia Pacific experiences growth in electronics.
United States/WA: The global metamaterials market was valued at US$ 238.9 million in 2018, and is projected to reach US$ 4,578.4 million by 2027, exhibiting a CAGR of 39.5% over the forecast period.
Report Pages:[160 Pages]
Major Key Companies Involving in Metamaterials Market:
Acoustic Metamaterials Group Ltd., Advanced Research Projects Agency, Echodyne, Inc., Fractal Antenna Systems Inc., JEM Engineering, Kymeta Corporation, Metaboards Limited Metamagnetics Inc., Metamaterial Technologies Inc., Nano-Meta Technologies
A metamaterial, also known as a “composite material,” is a material engineered to have an unusual property that is absent in natural occurring substances. These materials typically are formed from single components of various types of plastics and metals, molded into unique structures by means of composite materials, and then fabricated in a controlled manner using traditional fabrication methods. These composites have been tested to ensure they possess the extraordinary properties that characterize them. The development of metamaterials has given rise to new and innovative applications in technological advancements. One of these applications is in the field of nanotechnology. These metamaterials are made of a core layer of aluminum oxide coated with thin layers of boron or carbon. This process creates a layer of conductors that can be manipulated in order to produce a controlled output.
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Market Dynamics
Among end-use industries, the aerospace and defense is expected to witness significant growth in the metamaterials market, owing to increasing investment in the military and defense sector. For instance, in March 2019, China’s Ministry of Finance announced a yearly budget of US$ 177.5 billion for the defense sector compared to US$ 167.4 billion in 2018.
Among regions, Europe is expected to witness sluggish growth in the metamaterials market, owing to significant decline in the automotive sector. For instance, according to the Society of Motor Manufacturers and Traders, the new car registrations in the U.K. decreased by 44% in March 2020 compared that in March 2019. Moreover, North America is also expected to witness significant decline in the metamaterials market, as sales of motorcycles and cars witness downward trend. For instance, Yamaha Motor Co. has projected that the company’s motorcycle sales will drop 4.7% to 60,000 units in North America in 2020. During the fiscal year ended December 31, 2019, motorcycle sales dropped 6.3% to 63,000 units year over year. Similarly, Harley-Davidson Inc. reported that retail sales volumes dropped 4.3% in 2019 from 2018.
Asia Pacific is expected to witness significant growth in the metamaterials market, owing to significant growth in the electronics sector. For instance, according to India Brand Equity Foundation, the electronics market in India is expected to witness a CAGR of 24.4% during 2012–20. Moreover, increasing car sales is also expected to aid in growth of the market in Asia Pacific. For instance, according to the China Passenger Car Association, China’s car sales grew at their fastest rate in more than two years in August 2020. Retail passenger-car sales in the country increased by 8.9% in August from a year earlier to 1.7 million vehicles.
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The post Europe to Witness Sluggish Growth in Metamaterials Market, Owing To Significant Decline in the Automotive Sector appeared first on Gatorledger.
The article discusses the sluggish growth in Europe's metamaterials market due to a decline in the automotive sector.
Metamaterials are engineered materials with properties not found in naturally occurring substances, used in various technological applications.
The aerospace and defense sectors are significant drivers of growth in the metamaterials market.
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