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WELLESLEY, MA --(Marketwired - March 22, 2016) - Metamaterials offer seemingly endless possibilities, but it is unlikely that all of these possibilities will become reality, at least anytime soon. BCC Research reveals in its new report that the emerging global metamaterials market should see an eight-fold growth between 2015 and 2025.
Metamaterials are composites made up of precisely arranged patterns of two or more distinct materials. For the sake of clarity, this report breaks down the market for metamaterials between electromagnetic and two other classes. The second class of metamaterials interacts in unique ways with acoustic rather than electromagnetic waves. The final class of metamaterials includes artificial materials that do not interact with any waveform energy.
The global market for metamaterials is expected to grow from $307.7 million in 2015 to about $1 billion by 2020, and to nearly $2.5 billion by 2025, the latter rate reflecting a five-year (2020-2025) compound annual growth rate (CAGR) of 19.4%. The electromagnetic metamaterials segment accounts for the largest segment of the market through 2025. The extreme-parameter and other metamaterials segment accounts for the remainder, whereas acoustic metamaterials are only expected to appear on the commercial market toward the end of the period (2020-2025) covered by this report.
The electromagnetic market should reach $279 million and $612.3 million in 2015 and 2020, respectively, and total nearly $1.6 billion by 2025, the latter indicative of a five-year (2020-2025) CAGR of 20.6%. The extreme-parameter and other market should reach $409.2 million and $871.2 million in 2020 and 2025, respectively, reflecting a five-year CAGR of 16.3%.
By 2025, the range of metamaterials end uses should be more diversified. In addition to manufacturing and miscellaneous unclassified end uses, healthcare, electronics/IT, communications, energy and transport are expected to capture significant market shares. Communications in particular should account for 15.9% of the metamaterials market by 2025, followed by healthcare (12.3%) and electronics and information technology (6.7%).
In 2014, the only types of metamaterials available in commercially significant quantities were chiral (mainly asymmetric catalysts), photonic crystal, magnetic nanocomposite and extreme-parameter metamaterials. Magnetic nanocomposites had the largest market share (68%), followed by photonic crystals with a 22.4% share.
"By 2024, the range of commercial metamaterials should be considerably more diverse than before," says BCC Research analyst Andrew McWilliams. "In addition to chiral, photonic crystal, extreme-parameter and magnetic nanocomposite, other types such as artificial dielectrics, negative refraction media, superconducting and acoustic metamaterials are expected to capture significant market shares. In particular, artificial dielectrics should capture a projected 10.7% of the market by 2025, rendering them the fourth-largest segment of the metamaterials market."
Metamaterials: Technologies and Global Markets (AVM067D) analyzes the emerging metamaterials technologies and applications, and details those technologies and applications that are most likely to achieve significant commercial sales in the future. Analyses of global market drivers and trends, with data from 2014, 2015, and projections of CAGRs through 2020 and 2025 also are provided.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world's greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email firstname.lastname@example.org.
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