Metamaterials Global Market Report 2025

The metamaterials market size has grown exponentially in recent years. It will grow from $1.5 billion in 2024 to $1.9 billion in 2025 at a compound annual growth rate (CAGR) of 26.3%. The growth in the historic period can be attributed to the increasing adoption of metamaterials in telecommunications, the rise in aerospace and defense applications, growing applications in medical devices, increasing use in wireless communication systems, and the rise in 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 $4.95 billion in 2029 at a compound annual growth rate (CAGR) of 27.1%. The growth in the forecast period can be attributed to growing demand for 5G technology, increasing use in quantum computing, a rise in demand for wireless communication and radar systems, growing adoption in healthcare and medical applications, and increasing use in electromagnetic shielding. Major trends in the forecast period include advancements in automotive radar systems, development of flexible metamaterials, advancement of terahertz wave applications, advancements in nanotechnology, and advancements in artificial intelligence for material design.

The forecast of 27.1% growth over the next five years reflects a modest reduction of 0.7% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through restricted access to advanced electromagnetic components, largely supplied by the UK and China, hindering innovation in 5G and stealth technology. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

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.

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.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp escalation of U.S. tariffs and resulting trade tensions in spring 2025 are significantly affecting the electrical and electronics sector. Key components such as semiconductors, display panels, and rare-earth metals crucial for batteries and motors are now facing heavy duties. Consumer electronics companies are seeing profit margins shrink, as fierce competition makes it difficult to pass on rising costs to consumers. At the same time, industrial electronics firms are experiencing project delays due to shortages of tariff-impacted parts like printed circuit boards. In response, businesses are shifting assembly operations to tariff-exempt nations, building up inventory reserves, and redesigning products to reduce reliance on restricted materials.

The metamaterials market research report is one of a series of new reports 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.

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.

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