Metamaterial Market expected to grow strongly by 2025

Global market is segmented on the basis of application into antenna & radars, absorbers & sensors, superlens, cloaking device and others such as sound filtering etc. Metamaterial market growth is mainly attributed to growing infrastructural needs that require large scale installation of Wi-Fi routers, radar and satellite communication, commercially available metamaterial antennas enhance an antenna's radiated power, whereas, metamaterial absorber influence loss components of metamaterials magnetic permeability and permittivity, in order to immerse substantial amount of electromagnetic radiation.

The end-user areas of the market include aerospace & defense, healthcare, automotive, consumer electronics, energy & power and others such as optics. Metamaterial are gaining huge acceptance in communication antenna applications in the connected cars concept. Rise in wireless communication services owing to surging demand of antenna, that is an integral component of satellite communication equipment and smartphones, is expected to be one of the key factors for metamaterial market growth by 2025. In addition, increase in demand for clean energy sources such as wind solar, and tidal energy is also anticipated to drive the growth of metamaterial.

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Metamaterial Market size is driven by increasing need for advanced materials in the medical and telecommunication sector, since these materials enhances an antenna’s radiating power and help in achieve high directivity and tunable frequency beyond diffraction limit at 0.38 μm. For instance, in 2018, Kymeta Corporation reported that its sales of Ku-band metamaterial antenna have increased significantly as compared to previous years.

Metamaterial is a synthetic composite material engineered with a structure that exhibits properties such as negative refractive index, optical properties, chiral properties etc., which is not usually obtainable in natural materials. Metamaterials derive their properties not from the base materials, but from their newly designed structures that can affect waves of sound or electromagnetic radiation.

Global metamaterial market will witness significant demand in near future owing to the its vast industrial applications that includes remote aerospace applications, high-frequency battlefield communication, optical filters, medical devices, infrastructure monitoring, sensor detection, crowd control, solar power management, and lenses for high-gain antennas, improved ultrasonic sensors and shielding constructions from earthquakes.

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These advanced materials allows high frequency battlefield communication, sensor detection, improved ultrasonic sensors, solar power management in aerospace which in turn create growth potential for the metamaterial market during the forecast spell. However, governmental norms and regulations associated with usage of product and high cost associated with synthetization of metamaterials might hinder growth. For instance, several conditions that directs utility of metamaterial surface scattering antennas have been reported by National Archives and Records Administration.

Metamaterial market segmented by material type encompasses electromagnetic, terahertz, photonic, tunable, frequency selective surface and others. The others segment covers non-linear, chiral etc. Electromagnetic metamaterial is more attractive in the industry since these are structures whose electromagnetic properties are engineered to provide a range of response that is difficult to attain in naturally occurring composites.

They are specially engineered for applications in optical and microwave applications, including electromagnetic invisibility cloaks, microwave couplers. etc. On the other hand, terahertz are specially engineered to interact at terahertz frequencies of 0.1 to 10 THz, and they are mainly employed in remote sensing and in spectroscopy.

North America region will witness significant growth rate owing to growing demand for technologically advanced aerospace & defense, automobile production in the region. In addition, rising innovation in healthcare industry will supplement metamaterial market size in the coming years. The regional government has undertaken several initiatives to provide adequate funding to industry players to devise metamaterial-based antennas.

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Prominent players in the global metamaterial market includes Kymeta Corporation, Phoebus Optoelectronics, Echodyne, Applied EM, MetaShield, MediWise, JEM Engineering, Metamaterial Technologies, Harris Corporation, Multiwave Technologies, Teraview, AEgis Technologies Group, Nanoscribe GmbH, Metaboards Newport Corporation etc. Players are continuously adopting acquisitions & mergers, partnerships as their key growth strategies.

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