In wake of changing economic conditions, newer and better alternative to age-old materials is being sought. This is where metamaterials come in the picture. Metamaterial primarily is a material that is created artificially in order to hold a property which is not naturally present in those materials. The process used to make metamaterial involves assembling of different type of elements that are structured from plastics and metals. The metamaterial is rapidly gaining popularity and finding buyers from various industries due to precise size, shape and geometry. Compared to natural metals, the metamaterial can easily block, absorb, enhance or turn waves. This is the one of the major reason behind heavy demand for metamaterial technology. Entry of newer companies dealing in this domain and enormous research activities across the globe is helping the global metamaterial technologies market grow.
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The COVID-19 pandemic had adversely impacted the growth of the global metamaterial technologies market. Multiple factors including worsening economic conditions across the globe brought down the demand for metamaterial technologies. One of the biggest factor that has been driving the growth of the global metamaterial technologies market is increased adoption of mobile wireless communication. Along with this, surging amount of investments in metamaterials for commercialization is also contributing to this market’s progress.
Meanwhile, rise in the number of concerns related to fabrication of metamaterials is expected to play a restraining factor in the growth of the global metamaterial technologies market. On the other hand, the surge in the rate of adoption of metamaterials for 5G networks that are wireless is the reason why the global metamaterial technologies market is forecasted to witness huge growth in the period of next several years.
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Global Metamaterial Technologies Market Report Findings:
- On the basis of technology, the acoustic segment will accumulate money at the fastest rate for the global metamaterial technologies market. This is because the acoustic metamaterials are capable of controlling, directing and manipulating sound waves that are in the form of ultrasonic or even infrasonic. Hence the demand for this technology will go up drastically.
- On the basis of the end-use industry, the consumer electronics segment will be making majority of the money for the global metamaterial technologies market. Home automation is being done extensively and metamaterials are playing a big role in this.
- The region of Asia Pacific is forecasted to mint money at the quickest speed for the global metamaterial technologies market. Countries like India and China are constantly in the centre of rising tensions on geographical levels. In wake of this, the military budgets have been increased drastically, and this will help the market grow.
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Global Metamaterial Technologies Market Competitors:
- Acentech Incorporated
- Echodyne Corp.
- Evolv Technologies Inc.
- Fractal Antenna Systems, Inc.
- Kymeta Corporation
- Metaboards Limited
- Metamaterial Inc.
- Radiative Cooling
- Other Market Participants
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Global Metamaterial Technologies Market
- Solar Panel and Absorber
- Medical Imaging
- Antenna and Radar
By End-use Industry
- Consumer Electronics
- Power & Energy
- Aerospace and Defense
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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