Metamaterials are the new revolutionary of the technological world and its market is one of the rapidly emerging markets. They have transformed the physical world, be it optical or sound based. It is an evolving technology with constant research and development being witnessed in this field. Recently, Daily Mail reported that “Researchers have come up with a simple and cheap way of shaping sound waves using a new type of super-material… The material can be 3D-printed into fingernail-sized bricks which can be combined into a sheet to control sound. This sheet can then be stuck onto the front of loudspeakers to accurately direct the outgoing sound waves and create audio ‘hotspots’ that only the user can hear.” This innovation can drastically change the way we use sound waves.
Metamaterials have gained popularity over the past decade and have been utilized in several industries to enhance their product features. Due to the growing popularity of metamaterials and its dynamic market, BIS Research has compiled a report titled ‘Global Metamaterials Market- Analysis & Forecasts- 2016 to 2022’, incorporating a thorough analysis of the different types of technologies, devices, and application of metamaterials in different industry verticals such as telecommunication, medical instrumentation, aerospace and defense, optics and sensing.
The widespread acceptance of metamaterials in antennas, superlens, cloaking devices, or absorbers is due to its negative refractive index, and the ability to go beyond diffraction limit property that they exhibit. Constant innovation in the metamaterials field is the reason behind the growth of its market. Researchers at Georgia Institute of technology have succeeded in an experiment with an optical metamaterial. Science Daily reported that its “chiroptical properties in the non-linear regime produce a significant spectral shift with power levels in the milliwatt range.” According to Science Daily, “The researchers believe that this may be the strongest non-linear optical rotation ever reported for a chiral metamaterial, and is about a hundred thousand times larger than the current record measurement for this type of structure.”
According to the analyst at BIS Research, “The metamaterials market is driven by a number of factors such as increasing usage of metamaterials by research & development firms for developing new optical and electronic components, superior properties of metamaterials over conventional materials, and high demand from various end-use industries. However, high production cost of metamaterials are hampering the growth of metamaterials market.” The global metamaterials market is expected to show a substantial growth over the period 2016 to 2022.
After an analysis of the competitive landscape of the metamaterials market, the analyst at BIS Research has pointed out that metamaterials manufacturers are adopting different strategies to gain market presence. The analyst mentions that “Some of the strategies adopted by metamaterial manufacturers are new product launches and developments, partnerships, collaborations, contracts, & agreements, expansions, & mergers and acquisitions. Among all the strategies adopted partnerships, collaborations, contracts, & agreements has dominated the competitive landscape and is the most widely adopted strategy among the metamaterials and original device manufacturers.”
Additional information is provided in the ‘Global Metamaterials Market – Analysis and Forecast’ report by BIS Research. The diversity in application of metamaterials in different industry verticals have pushed the key players to delve into collaborations and partnerships. BIS Research has analysed the key players in the market and the trends they are to follow in the forecast period.