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The ground transportation segment was the largest end-user segment of MMC in 2012. The ground transportation segment generated revenue of USD 119.6 million in 2012 and is projected to reach USD 184.2 million in 2019, growing at a CAGR of 6.4% from 2013 to 2019. The ground transportation segment was followed by electronics/thermal management industry, which is likely to be the fastest growing end-user segment in the global MMC market. Ground transportation and electronics/thermal management segments are anticipated to grow significantly in the next few years due to high demand from automotive and electronics industries globally. Additionally, demand for MMC from other end-users, including nuclear industry and industrial equipment manufacturers, is expected to increase at a decent rate in the next six years.
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The global MMC market is segmented based on regions. North America represents the largest market for the MMC industry. Rising demand for various types of MMC from automotive and aerospace industries in the U.S. is estimated to drive the market in North America. Asia Pacific was the second largest market for MMC, followed by Europe and RoW. Asia Pacific is predicted to be the fastest growing regional market for MMC in the next few years owing to high demand from automotive and electronics/thermal management industries in countries such as China and India.
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High demand for MMC from automotive, aerospace and electronics/thermal management industry is driving the global MMC market. Aluminum MMC, which is used in the production of several automotive, aerospace and electronic components, was the largest market in terms of demand for MMC materials across the globe in 2012. Rising usage of MMC in the manufacture of lightweight and durable components for different industrial applications is expected to drive the global MMC market in the next six years. However, lower global defense revenue and negative outlook for the shipping industry worldwide may hamper market growth in the next few years. Key manufacturers of MMC include Materion Corporation, Sandvik AB, GKN PLC, 3M, Plansee SE, Sumitomo Electric Industries, Ltd., Hitachi Metals, Ltd., CPS Technologies Corporation, Deutsche Edelstahlwerke GmbH and 3A Composites.
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