Metamaterial Market Size & Forecast Report, 2014 - 2025

The global metamaterials market size was estimated at USD 316.0 million in 2016 and is expected to reach USD 1.35 billion by 2025, with a CAGR of 17.8%. Metamaterials are widely used in the telecommunication and medical fields. These materials are artificial having electromagnetic properties that may not be found in nature. The rare properties of metamaterial have led to the development of metamaterial antennas, sensors, and lenses for minute wireless systems that are expected to be more efficient than other traditional systems. They exhibit a sensitive response to the dielectric media, strain, biological sensing applications, and chemicals.

Metamaterials are artificially engineered materials that provide unique advantages over other conventional substitutes owing to properties that are not readily found in nature. They gain their distinctive properties from the structure of the homogeneities infused in them. Due to these factors, metamaterials have a long list of lucrative applications including invisible superlens, cloaking devices, absorbers, and flat antennas which are highly impossible with traditional materials that are found in nature.

The growing demand for graphene-based metamaterials in the medical field is estimated to drive market growth over the forecast period. The need for implementing wireless telemetry systems in the medical field is expected to increase significantly increased owing to the necessity for early diagnosis of infections or diseases and continuous intensive care monitoring of physiological parameters. Sensors and microwave antennas are major components of telemetry systems since they provide communication between the base station and the patient. Metamaterials show electromagnetic properties at frequencies that are expected to attract interest from physicists and microwave engineers. These factors are anticipated to drive the market growth and provide a potential base for metamaterials in the next seven years.

The global metamaterials market is driven by a surge in wireless mobile communication, to improve the efficiency of solar photovoltaic cells and increasing investments by venture capital firms in the market. Metamaterials absorb a wide range of light with exceptionally high efficiency, which is expected to generate optical sensors and solar cells. These metamaterials can be extremely thin, saving weight and cost.  Rising demand and awareness of the benefits that solar cells provide to generate energy are expected to drive this technology. These materials can be extremely thin, saving both cost and weight.

Lack of inadequate customer awareness of metamaterials is expected to pose a major challenge to the global market. Technical difficulties coupled with high cost and time taken for the development cycle can be attributed as major challenges to the growth of the global market.

Based on the metamaterial types, the global market is segmented into terahertz, acoustic, photonics, microwave, and radio metamaterials, other types include infrared and ultraviolet metamaterials. Microwave and radiofrequency electromagnetic metamaterials are expected to contribute the largest market share owing to the increase in wireless broadband, mobile communications, and technological advancements in communication infrastructure.

Based on product type. The market is segmented into superlens, antennas, absorbers, and cloaking devices. Metamaterial antennas are expected to have the largest market share of other segments. They provide efficient performance and size, high tunable directivity, operational efficiency coupled with improved bandwidth and radiation. The fastest-growing segment is attributed to cloaking devices. These devices are stealth technology that provides objects with wholly or partially invisible properties to the electromagnetic spectrum which are widely used in defense and aerospace.

Based on the application the global market can be segmented into medical, optic, sensing, radar, telecommunication aerospace & defense. Radar and communication were the largest application segment in 2014 and are likely to dominate the market over the forecast period. Medical imaging is expected to grow at a significant growth rate owing to various innovations and product development in this field. Optics and sensing are expected to emerge as the fastest-growing markets for metamaterials over the next seven years.

North America is expected to be the largest market for metamaterials owing to government research investments, particularly in the communication infrastructure and the defense sector. The intensity of active association between companies, universities, and metamaterials technologies to develop various products for civilian use is estimated to drive the market demand in the Asia Pacific and Europe. Emerging economies such as Brazil, China, and India are highly investing in medical, defense, and infrastructure to increase their economic development.

Key players in the global market are Applied EM, Kymeta, Teraview, Plasmonics Inc., JEM Engineering, and Microwave Measurement Systems LLC. Other industry participants include Harris Corporation, Newport Corp. and Photonic Lattice Inc. Applied EM introduced tiny form factor antennas that reliably perform at low voltages and also developed enhanced electromagnetic simulation tools using asymptotic computational techniques.

Market Segment:

Metamaterials Product Outlook (Revenue, USD Million, 2014 - 2025)
        • Electromagnetic
        • Terahertz
        • Photonic
        • Tunable
        • Frequency Selective Surface
        • Non-linear

Metamaterials Application Outlook (Revenue, USD Million, 2014 - 2025)
        • Antenna
        • Absorber
        • Superlens
        • Cloaking devices
        • Others

Metamaterials End-use Outlook (Revenue, USD Million, 2014 - 2025)
        • Aerospace & defense
        • Medical
        • Automotive
        • Consumer electronics
        • Energy & power

Regional Outlook (Revenue, USD Million, 2014 - 2025)
        • North America
            • the U.S.
        • Europe
            • Germany
            • the UK
        • the Asia Pacific
            • China
            • India
            • Japan
        • Central & South America
            • Brazil
        • Middle East & Africa
            • South Africa