PUBLISHER: The Business Research Company | PRODUCT CODE: 1727866
PUBLISHER: The Business Research Company | PRODUCT CODE: 1727866
Metamaterials are engineered materials designed with properties not found in naturally occurring substances, achieved by structuring them at microscopic or nanoscopic levels. These materials are used across a wide range of applications, including advanced optics, electromagnetic wave manipulation, stealth technology, medical imaging, wireless communication, and energy harvesting.
The primary types of metamaterials include electromagnetic, terahertz, photonic, tunable, frequency-selective surface, and non-linear metamaterials. Electromagnetic metamaterials are engineered to control electromagnetic waves, enabling unique manipulation of light, radio waves, and other electromagnetic signals. They have various applications, including communication antennas and radar (for beam steering), sensors, solar panels and absorbers, displays, medical imaging, wind screens, and more. These materials are utilized across industries such as automotive, aerospace and defense, consumer electronics, medical, energy and power, and others.
The metamaterials market research report is one of a series of new reports from The Business Research Company that provides metamaterials market statistics, including metamaterials industry global market size, regional shares, competitors with a metamaterials market share, detailed metamaterials market segments, market trends and opportunities, and any further data you may need to thrive in the metamaterials industry. This metamaterials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The metamaterials market size has grown exponentially in recent years. It will grow from $1.50 billion in 2024 to $1.92 billion in 2025 at a compound annual growth rate (CAGR) of 28.0. The growth during the historic period can be attributed to the growing adoption of metamaterials in telecommunications, an increase in aerospace and defense applications, expanding use in medical devices, a rise in wireless communication systems, and a growing demand for radar and imaging systems.
The metamaterials market size is expected to see exponential growth in the next few years. It will grow to $5.13 billion in 2029 at a compound annual growth rate (CAGR) of 27.8%. The growth during the forecast period can be attributed to the rising demand for 5G technology, increasing use in quantum computing, a surge in demand for wireless communication and radar systems, expanding adoption in healthcare and medical applications, and greater use in electromagnetic shielding. Key trends in the forecast period include advancements in automotive radar systems, the development of flexible metamaterials, progress in terahertz wave applications, advancements in nanotechnology, and the use of artificial intelligence for material design.
The growing demand for wireless communication is expected to drive the growth of the metamaterials market. Wireless communication involves transferring information between devices without physical connections, using radio waves, infrared, or other electromagnetic signals. The rising demand for wireless communication is driven by factors such as increasing digital connectivity, technological advancements, and the need for seamless, real-time communication solutions, all of which contribute to widespread adoption. Metamaterials play a key role in enhancing wireless communication by providing better control over electromagnetic waves, improving signal strength, reducing interference, and enabling the development of compact, high-performance antennas and devices. For example, a report from Dataconomy Media GmbH in September 2022 stated that by the end of June 2022, the global average number of connected gadgets and smart home appliances per home had reached 17.1, marking a 10% increase from the previous year. As a result, the rising demand for wireless communication is boosting growth in the metamaterials market.
Key companies in the metamaterials market are focusing on developing cutting-edge technologies, such as light control metasurface (LCM) technology, to create innovative solutions that enhance performance and enable new applications across various industries. LCM technology uses engineered surfaces to steer and control light waves with high precision, replacing traditional mechanical components in optical systems. For instance, in May 2024, Lumotive Inc., a US-based optical semiconductor technology company, and Hokuyo Automatic Co., Ltd., a Japan-based company specializing in sensors and automation, launched the YLM-10LX 3D lidar sensor. The YLM-10LX sensor, powered by Lumotive's LCM technology, replaces mechanical parts with dynamic metasurfaces to manipulate light, offering exceptional stability and accuracy in 3D object recognition. It also provides superior range and field of view, improving performance in industrial automation and robotics, thus driving innovation in lidar technology.
In April 2022, Meta Materials Inc., a Canada-based developer of high-performance functional materials, acquired Plasma App Ltd. in a stock transaction valued at $20 million. This acquisition is aimed at enhancing Meta Materials' advanced materials portfolio by incorporating Plasma App Ltd.'s PLASMAfusion technology for high-speed, eco-friendly material coatings. Plasma App Ltd., based in the UK, specializes in eco-friendly, high-speed material coating using its PLASMAfusion technology.
Major players in the metamaterials market are BAE Systems Inc., RTX Corporation, Thorlabs Inc., NKT Photonics A/S, Pivotal Commware Inc., Kymeta Corporation, Moxtek Inc., Greenerwave, Metamaterial Inc., Lumotive Inc., TeraView Limited, Fractal Antenna Systems Inc., ALCAN Systems GmbH, Metalenz Inc., Edgehog Advanced Technologies Inc., Phoebus Optoelectronics LLC, Alight Technologies ApS, 2Pi Inc., Etaphase Inc., Phomera Metamaterials Inc.
North America was the largest region in the metamaterials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in metamaterials report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the metamaterials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The metamaterials market includes revenues earned by entities by providing services such as customization and design services, consulting and advisory services, prototyping and development services, and integration and implementation services. The market value includes the value of related goods sold by the service provider or included within the service offering. The metamaterials market consists of sales of optical components, eyewear, and films. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Metamaterials Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on metamaterials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for metamaterials ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The metamaterials market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.