Seattle, WA -- (SBWIRE) -- 10/01/2019 -- A metamaterial is type of material, which is engineered to have properties that are not found in naturally occurring materials. Metamaterials have exceptional material properties such as magnetic, electrical, acoustic, and optical properties. These materials are consists of a number of resonators that can manipulate electromagnetic sound or waves, which is unlikely to find in nature. Metamaterials also have exceptional physical properties such as negative permeability and permittivity. These materials allow engineers to control the wave propagation by arranging the unit cells in different ways. In retrospect, metamaterials are artificial composite materials that exhibit properties from their internal microstructure instead of chemical composition found in natural chemicals.

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The global metamaterials market is expected to witness significant growth during the forecast period (2019–2027). This is owing to increasing adoption of metamaterials in various sectors such as aerospace, defense, and high-end military applications Furthermore, increasing demand for metamaterials for various information & communication technology (ICT) applications such as communication antennas and small radars is expected to propel growth of the global metamaterials market during the forecast period.

Moreover, increasing investment for research and development by public and private sources is expected to drive the market growth. For instance, in June 2018, Metaboards Limited (a metamaterials start-up based in U.K.) raised US$ 5 million in funding for development of metamaterials. These materials are in high demand in the medical and telecommunication sector and are majorly used in development of metamaterial lenses, antennas, and sensors, owing to their exclusive properties. Metamaterial lenses, antennas, and sensors are more efficient than the conventional systems. Moreover, increasing demand for grapheme-based metamaterials in the medical industry is expected to drive growth of the global metamaterials market. Sensors and the microwave antennas are the prime components of the telemetry system due to their electromagnetic properties. Metamaterials are also used construction of solar cells and optical sensors, due to their ability to absorb a wide range of light with high efficiency.

However, lack of awareness about the benefits of metamaterials and technical complications regarding its suitability for different applications is expected to restrain the global metamaterials market growth.
North America is expected to account for significant share in global metamaterials market followed by Europe during the forecast period. This is owing to increasing grants for research and development of metamaterials across different applications. For instance, in 2017, the Defense Advanced Research projects Agency (DARPA) in association with the U.S. Navy and Lockheed Martin Corporation, sanctioned funding worth of US$ 8 million to chair professors of Electrical Engineering (Doug Werner, John L., and Genevieve H. McCain) at Penn State for the development of metamaterials. Furthermore, Asia Pacific metamaterials market is expected to witness the fastest growth during the forecast period. This is owing to development of new metamaterials for applications in telecommunications and power industries.

Increasing aircraft production is expected to aid in growth of the global metamaterials market
Metamaterials find major applications in aerospace and defense industry as they are lightweight for radar and communications applications. Increasing use metamaterials in these industries is expected to drive growth of global metamaterials market during the forecast period. Metamaterials also find applications in the production of drones. Hence, increasing use of metamaterials in military applications is expected to drive growth of global metamaterials market over the forecast period. For instance, according to Coherent Market Insights' research, the global aircraft deliveries reached to 1,618 units in 2018, from an estimated 1,498 units in 2017.
Growing use of antennas for communication applications is expected to fuel growth of the market
Metamaterials have been predominantly used in the production of antennas. In 2018, Kymeta Corporation witnessed significant growth in sale of its Ku-band metamaterial antennas, owing to its growing use in radar, vessels, and mobile phones. Metamaterial antennas allow an individual to focus on six time beyond diffraction limit at 0.38 ?m. The antennas used in smartphones made of metamaterials are five times smaller and have bandwidth range between 700 MHz and 2.7 GHz.

Moreover, researchers are involved in research and development activities of wide angle impedance matching (WAIM) technology. It has been proved that metamaterials can be used to attain superior wide angle impedance for phased array antennas.

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Some of the key players operating in the global metamaterials market include, Acoustic Metamaterials Group Ltd., Advanced Research Projects Agency, Echodyne, Inc., Fractal Antenna Systems Inc., JEM Engineering, Kymeta Corporation, Metaboards Limited Metamagnetics Inc., Metamaterial Technologies Inc., Nano-Meta Technologies, Inc., Palo Alto Research Center Incorporated, and TeraView.

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