Metamaterials Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Electromagnetic, Terahertz, Tunable, Photonic, Frequency Selective Surface, FSS, Other), By Application (Antenna and Radar, Cloaking Devices, Sensors, Light and Sound Filtering, Superlens, Other Applications), By End-user type (Consumer Electronics, Healthcare, Telecommunication, Aerospace and Defense, Other End-user) and Region Forecast 2020-2031

Metamaterials Market size was valued at US$ 1,133.3 million in 2024 and is expected to reach US$ 4,585.3 million by 2031, growing at a significant CAGR of 22.1% from 2025-2031. The primary factor that will boost the  market is the capital investment made by the public and private sectors. Metamaterials are in huge demand in the medical and telecommunication sector due to the rare properties that the metamaterials inherit. The use of metamaterials in solar systems and metamaterial-based radars for drones offers a beneficial opportunity for the market. Government agencies spend heavily on research and development of metamaterials for aerospace and defense applications.

Therefore, the demand for metamaterials in a huge range of applications which is driven by the variety of design features. Metamaterials are also used in various end-user applications due to improved electromagnetic properties, such as automotive, consumer electronics, medical, and other industries. In addition, the rising application of metamaterials in consumer electronics and healthcare is expected to drive market revenue growth. some of the opportunities for metaphysical market growth are high investment from both the public as well as private sectors to commercialize products. However, a lack of understanding of the advantages of metamaterials and the related technical complexities of their appropriateness for various applications is expected to hinder the growth of the market. Moreover, the lack of technology available for mass production and high raw material cost is a major challenge for market growth.

Key Developments:

• In April 2022 – Plasma App Ltd. was acquired by Meta Materials Inc. A technology enabling high-speed coating of solid materials was developed by Plasma App which Meta Materials Inc. will apply in its production process for NANOWEB films as well as for KolourOptik security films.
• In June 2018 - UK based start-up Meta boards Limited over an investment round raised US$ 5 million for advanced development.