July 10, 2014
BCC Research (www.bccresearch.com) reveals in its new report, METAMATERIALS: TECHNOLOGIES AND GLOBAL MARKETS, the total global market for metamaterials was $289.2 million in 2013 and consequently, $346.3 million in 2014. BCC Research expects the market to grow to nearly $1.2 billion by 2019, a compound annual growth rate (CAGR) of 27.6% during 2014 to 2019, and nearly $3 billion by 2024, registering a CAGR of 20.5% from 2019 to 2024.
Metamaterials can manipulate electromagnetic radiation (e.g., light) in ways not readily observed in nature. Electromagnetic metamaterials account for the bulk of the metamaterials market. Acoustic metamaterials are not expected to be major factors in the market until the time frame from 2019 to 2024 at the earliest, when applications such as metamaterials-based ultrasound lenses and noise barriers begin to appear.
“By 2024, the range of metamaterials end uses should be more diversified,” says BCC Research analyst, Andrew McWilliams. “In addition to manufacturing and miscellaneous unclassified end uses, healthcare, electronics/IT, communications, energy and transport are expected to capture significant market shares.”
METAMATERIALS: TECHNOLOGIES AND GLOBAL MARKETS provides specific objectives which include identifying the metamaterials with the greatest commercial potential in the 2014 to 2024 time frame, analyzing market drivers and evaluating obstacles to their successful commercialization, and projecting their future sales. It also surveys emerging metamaterials technologies and applications, identifies those that are most likely to achieve significant commercial sales in the next five to 10 years, and develops quantitative estimates of potential sales.
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Metamaterials: Technologies and Global Markets( AVM067C )
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