The metamaterials market is projected to grow at a CAGR of 31.44% over the forecast period, increasing from US$3.237 billion in 2025 to US$12.702 billion by 2030.
Metamaterial is a type of 3D structure that generally comprises at least two multiple or different materials. It has a response of function that is impossible to achieve with any individual material. Metamaterial offers multiple advantages in multiple industries, like construction. It helps to reduce metal consumption and also increases the stiffness and strength of the metals.
Metamaterials market drivers
Increase in renewable and sustainable energy
The growth of the renewable and sustainable energy market worldwide is estimated to fuel the global metamaterial market. In the global renewable energy market, metamaterial is used in solar panels, as it is used in optical metamaterial. The metamaterial offers greater control of the solar cell and also helps to reduce its size and weight.
The Ministry of New and Renewable Energy of the Indian Government, in its report, stated that from April 2024 to July 2024, the total capacity of renewable energy installed in the nation grew significantly. The ministry also stated that during this timeline, the government installed about 5,394.37 MW of solar power and about 1,188.92 MW of wind power.
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