Metamaterials Market, by Product Type (Electromagnetic, Terahertz, Tunable, Photonic, Frequency Selective Surface (FSS)), by Application (Antenna and Radar, Sensors, Cloaking Devices, Superlens, Light, Sound Filtering), by End Use Industry (Healthcare, Telecommunication, Aerospace and Defense, Electronics, Automotive), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Metamaterials are also called as left handed materials, i.e. the periodic materials resonant structure that can exhibit both negative permittivity and permeability. Metamaterials are specifically engineered composite materials, which possess a superior electromagnetic property compared to conventional composite materials found in the nature. The metamaterial is arranged in a repeating pattern, of materials which are for manufacturing of metamaterial. Due to shape, geometry, size, orientation, and arrangement, metamaterials possess the property that can manipulate the electromagnetic waves by blocking, absorbing, enhancing, or bending waves, to achieve benefits that go beyond what is possible with conventional materials
Market Drivers
Increasing use of metamaterial in medical and telecommunication sector for the development of metamaterial lenses, antennas, and sensors that are more efficient than the conventional systems is expected to drive the market growth over the forecast period. Furthermore, sensors and microwave antenna are the prime components of telemetry systems and metamaterials consist of electromagnetic properties, due to which the metamaterials are majorly adopted in the telecom sector.
Moreover, the demand for antennas and radars is expected to increase over the forecast period, owing to increasing safety requirements in the defense sector. Radars are used to detect any aerial obstacle and guide the aircraft. Metamaterials are majorly adopted for antenna and radars. These factors are expected to fuel demand for antennas and radars, thereby propelling growth of the market over the forecast period.
Lack of awareness about the benefits of metamaterials and technical complications associated in terms of suitability for different applications with them is expected to hamper the market growth. Furthermore, high cost of raw materials is another major factor restraining the growth of market.
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