Ever imagined what would it be like if Harry Potter’s invisibility cloak was real, or even remotely possible? Invisibility is one of the magic wishes, which almost every mankind has secretly desired. However, we have only been able to materialise this in works of science fiction or fantasy films like Star Trek, Harry Potter or Marvel comic movies. But with the advent of metamaterials in the technological world, this figment of fiction became a possibility. Metamaterials are dynamic composite materials whose inherent properties are enhanced by their geometrical arrangements and are artificially structured to manipulate physical phenomenon like light, sound and others.
In 1904, when Horace Lamb and Arthur Schuster discovered the possibility of negative phase velocity accompanied by an anti-parallel group velocity, it was never imagined that the research in the same field will yield the possibility of cloaking and light manipulation. After numbers of research by Sir John Pendry, metamaterials became a breakthrough in the technological world. Many industries employed this emerging technology for advancement in their respective products. Metamaterials are widely utilized in various applications such as telecommunications, sensing, aerospace and defense, optics, and medical instrumentation.
The global metamaterials market has grown substantially over the past decade as rapid advancement has been achieved in this field. The market comprises mainly of raw material suppliers, metamaterials manufacturers, original device manufacturers and end-use industries. Though this market does not have an extensive and dynamic divisions, yet the utilization of metamaterials in various industries makes it a potential market. The market has evolved in developed regions like North America and Europe, however, it is gaining popularity in regions of Asia Pacific, Middle East and Africa and South America. The metamaterials market depends on the advancement of its applied industries.
Metamaterials have superior properties than conventional materials, hence, their demand is higher in the market. It is extensively used in research and development firms for developing new optical and electronic components with enhanced features and has high demand in end-use industries. The metamaterials market is evolving rapidly and has a potential for growth in aerospace and defense industry, as governments and federal agencies are investing huge amount in this market. Emerging economies like China and Brazil are expected to create a potential market for metamaterials in the coming years.
There are many key players in metamaterials market which provide a broad product portfolio for specific needs and applications in various industries. Some of the key players in the global metamaterials market are Applied Em, Jem Engineering, Kymeta Corporation, Metamagnetics, Metamaterial Technologies Inc., Nanohmics Inc., Teraview Limited, Harris Corporation, Fractal Antenna Systems Inc., Plasmonic Inc., Inframat Corporation, Newport Corporation, KuangChi Science Limited, Echodyne Inc., and Alps Electric Co. Ltd.
BIS Research in its latest upcoming report has done an extensive market research on ‘Global Metamaterials Market’. The market analysis report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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