CHICAGO, March 30, 2021 /PRNewswire/ — According to the new market research report “Metamaterial Market by Material Type (Electromagnetic, Terahertz, Photonic, Tunable, FSS, and others), Application (Communication Antenna, Windscreen, Solar Panel, sensors, Display, and Medical Imaging), Vertical and Geography – Global Forecast to 2026″, published by MarketsandMarkets™, the Metamaterial Market was valued at USD 305 million in 2021 and is projected to reach USD 1,457 million by 2026. It is expected to grow at a CAGR of 36.7% during the forecast period.
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The variety in design functionalities, anti-laser coating application, and developments in radar and LiDAR for autonomous vehicles. The use of metamaterials in solar power systems, metamaterial-based radar for drones, and advancements in 5G are the key factors driving the growth of metamaterial market.
Communication antenna and radar (beam Steering) to account for the largest share of the metamaterial market
The communication antenna and radar (beam Steering) segment is estimated to account for the largest size of the metamaterial market in 2021. Increasing demand for communication antennas for applications such as satellite communication, Wi-Fi routers, radar communication, and 5G communications is the major factor fueling the growth of the metamaterial market for communication antenna and radar application. Antennas that use…
