The global microwave absorbing material market will reach a valuation of USD 382.7 million in 2024, attributed to factors such as increasing adoption in industrial application. The trend is set to create new opportunities for the market, leading to a projected CAGR of 6.3% between 2024 and 2034, and reaching a total valuation of approximately USD 707.1 million by 2034. Microwave absorbing materials absorb radio waves, micro waves & electromagnetic waves of wide frequency range — from 100 MHz to a millimeter or a micron wave. These materials are commonly used in stealth technology for air-space, marine & military warfare, and signal transmission & reception process. These materials also find applications as a shield from high intensity electromagnetic fields/waves generated during medical diagnostics such as MRI, CAT scans.
The properties of microwave absorbing materials include wave reflection reduction, resonance cavity reduction, and null echo. Finished products made using microwave absorbing materials find applications across defense, telecommunication, core & applied electronics industry.
Microwave Absorbing Materials Market: Segmentation & Trends
The global microwave absorbing materials market is skilled-labour-intensive with focus on new product & application developments, and diversification of existing product types a key focus area for manufacturers. The customer’s requirements range from a standard prototype to a customised one. Concept marketing and product marketing are the key go-to marketing strategies for key players in this region.
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The global microwave absorbing market has seen many acquisitions by large-scale enterprises, which has been a synergy of supporting capital & expertise in technical know-how. Industrial exhibitions, trade fairs, defense expo are the common platforms of marketing & promotion for the value & supply chain players. The market is oligopoly type, which consists of few specialised manufacturers — backed by regional distributors & suppliers with defense & telecommunication — as the major consumer markets.
Microwave Absorbing Materials Market Dynamics
The major producers of microwave absorbing materials are located in North America & other OECD group Nations. U.S. defense sector is a major consumer & one of the key drivers for the market’s evolution and growth. The electronic component manufacturing sector in the Asia Pacific region is likely to witness next wave of development over the coming five to six years, creating opportunities for microwave absorbing material manufacturers.
Microwave Absorbing Materials Market: Drivers and Restraints
Increase in spending on defense systems and sustained demand for finished electronic goods will continue to fuel the growth of the microwave absorbing materials market during the forecast period, 2016-2026. On the other hand, taxes & cess imposed on raw materials & finished goods of microwave absorbents and unfavourable export & import policies can act as a deterrent.
Microwave Absorbing Materials Industry: Key Players
- Lairdtech
- ESCO Technologies Corporation
- ARC Technologies Inc.
- Western Rubber & Supply Inc.
- Cuming Microwave
- Mast Technologies
- Thorndike Corporation
- Parker Hannifin Corp.
- Panashield
- Modus Advanced Inc.
The research report presents a comprehensive assessment of the microwave absorbing materials market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories, such as market segments, geographies, types and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments of Microwave Absorbing Materials Industry Survey
By Types:
- Microwave Absorbing Films & Elastomers
- Microwave Absorbing Foams
- Military Specialty Microwave Absorbing Materials
- Custom Magnetic Microwave Absorbers
- Molded, Cast Liquids and Coatings-based Microwave Absorbing Materials
By Application:
- Military & Defense
- Automation
- Electronics & Telecommunications
- Chemicals
- Textiles
- Healthcare
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