Metamaterials Market Size, Share, and Trends 2025 to 2034

Metamaterials Market Size and Forecast 2025 to 2034

The global metamaterials market size was estimated at USD 1.57 billion in 2024 and is anticipated to reach around USD 15.36 billion by 2034, expanding at a CAGR of 25.61% from 2025 to 2034. The Metamaterials market is growing due to technological advancements and demand in various industries.

Metamaterials Market Key Takeaways

• North America dominated the global metamaterials market with the largest market share of 40% in 2024.
• Asia Pacific is expected to expand at the fastest CAGR during the forecast period. 
• By product, the electromagnetic segment contributed the highest market share of 34% in 2024.
• By application, the antenna and radar segment accounted for the biggest market share of 44% in 2024.
• By end use, the aerospace and defense segment has held the highest market share of 36% in 2024.

Integration of AI in the Metamaterials Market

In recent years, metamaterials have drawn interest because of their potential to transform a number of industries. In order to overcome design bottlenecks and investigate alternative disciplines, artificial intelligence (AI) may be included into metamaterial design optimization. The creation of new metamaterials can also be facilitated by AI-based metamaterial design, which optimizes design parameters that are impossible to do with conventional techniques. By using generative models, artificial intelligence (AI) may be used to improve the use of small data sets and speed up the study of large data sets. 

U.S. Metamaterials Market Size and Growth 2025 to 2034

The U.S. metamaterials market size was evaluated at USD 470 million in 2024 and is predicted to be worth around USD 4700 million by 2034, rising at a CAGR of 25.89% from 2025 to 2034. 

The Department of Defense's fiscal year 2024 spending plan allocates $824.3 billion, which is $26.8 billion more than the 2023 budget. For depot upkeep, the Army, Navy, Marine Corps, and Air Force departments will receive $32.5 billion, an increase of $1.8 billion over fiscal year 2023. The measure allocates $148.3 billion for fiscal year 2024, which is $3.4 billion more than the budget request for that year and $8.6 billion more than the amount approved for fiscal year 2023. In order to provide forces with the tools and systems they need to meet the challenges of the future, the law supports the research community and makes investments in fundamental and applied scientific research, development, testing, and evaluation of new technologies and equipment.

The Canadian government unveiled a new defense vision in response to the Budget 2022 pledge to review our security strategy. Over the next five years, the government will spend $8.1 billion more on the military, and over the following twenty years, it will spend $73 billion more.

In November 2024, the Indian Institute of Technology, Kanpur (IIT-K) announced a groundbreaking development in stealth technology with the launch of the Metamaterial Surface Cloaking System (Analakshya MSCS), which aims to provide revolutionary applications in defense, national security, and specialized industries, carrying forward PM Narendra Modi's vision of self-reliance in defense manufacturing. His ground-breaking camouflage technique is a daring step ahead in combating the widespread and accurate reach of contemporary intelligence, surveillance, and reconnaissance systems—one of the biggest operational issues forces confront today.

Market Overview

Metamaterials are a type of compound material structure, containing exceptional material parcels similar to aural, electrical, glamorous, and optic parcels. They include resonators manipulating electromagnetic swells or sound in ways not typically set up in nature. The physical parcel metamaterials parade is exceptionally similar as negative permittivity. The metamaterials permit masterminds to control the surge propagation by arranging the unit cells in colorful ways.

5G is a new-age technology allowing connecting the digital network in a flexible manner. 5G networks are anticipated to acclimatize to operations and will be acclimated to the requirements of end druggies. Metamaterial-based antennas or radars can perform exceptionally better than conventional systems in terms of effectiveness. As a result, metamaterial antennas will profit from the rapid acceptance of 5G. This will give tremendous openings to metamaterial requests in the coming future.

Metamaterials Market Growth Factors

• Metamaterials usage in different sectors: The request growth is attributed to the relinquishment of metamaterials in defense, aerospace, and military high-end operations, which is also anticipated to boost the request growth. 
• Manufacturing of various products: Moreover, the growing demand for metamaterials from communication antenna manufacturers is another factor that will drive the growth of metamaterials during the forecast period. They're extensively used in the production of metamaterial lenses, detectors, and antennas, owing to their rare parcels. Adding demand for grapheme-grounded metamaterials in the medical field is fueling the growth of the metamaterials request. 
• Investments by different stakeholders: In addition, extensive investments by private and public stakeholders are anticipated to drive the request growth. Metamaterials are also in high demand from the telecommunication and medical sectors. 

Market Scope

Market Dynamics

Key Market Drivers

• Increasing prevalence of RTA - Growing demand from the automotive industry for metamaterial products will drive the market further with the booming automotive sector in the coming years.
• A huge number of people belonging to the geriatric population - The growing use of metamaterials in the medical and telecommunications sectors to develop metamaterial lenses and antennas that can be more efficient than traditional old systems is expected to boost the market growth during the forecast period.
• Plastic and plastic surgery procedures - The demand for antennas is expected to increase during the forecast period, due to the increase in security requirements in the defense industry. Radar is used to detect any obstacles in the air and guide the aircraft. Metamaterials are mainly used for antennas and radars. These factors are expected to drive the demand for antennas and radars thereby driving the growth of the market during the forecast period.

Key Market Challenges 

• Disruption has occurred due to the emergence of COVID-19 - The spread of COVID-19 has affected businesses around the world. Lockdown orders have been adopted around the world. This has disrupted the global economy, with businesses closed or partially operating. This also affects the metamaterials business as all industries including defense, automotive, electronics, and aerospace, are affected by the covid-19 crisis and therefore suspended some ongoing projects and made small investments in new projects. As a result, the global market is growing slowly during the pandemic.
• Lack of skilled labor - Lack of awareness of the benefits of metamaterials and the associated technical complexities of their suitability for various applications is expected to hinder the growth of the market. 
• Variation in tensile strength - high raw material cost is another major factor holding back the market growth.

Key Market Opportunities

• Use of metamaterials in solar systems - The use of metamaterials in solar systems and metamaterial-based radars for drones presents a lucrative opportunity for the market. The lack of technology available for mass production is a major challenge for the market. Federal agencies spend heavily on research and development of metamaterials for aerospace and defense applications. Therefore, the demand for metamaterials in a vast range of applications is driven by the diversity of design features.
• Substantial government interest and investment - High investment from both public as well as private sectors to commercialize products are some of the opportunities for metaphysical market growth. 
• Diverse design features - Diverse design features, anti-reflective coating applications, and stealth cloaks for stealth aircraft are the key growth drivers for the metamaterials market. Growing demand from aviation and defense industries, increasing use of antennas for communication, and growing demand for mobile communications is driving the metamaterials market. 

Product Insights

The electromagnetic segment contributed the highest market share of 34% in 2024 and is anticipated to hold the highest metamaterials market size during the forecast time period in terms of value. The growth can be attributed to the growing use of electromagnetic metamaterials for communications applications, including new forms of metamaterial-enabled personal communications radars and satellites.

Application Insights

The antenna and radar segment accounted for the biggest market share of 44% in 2024. Rising demand for communication antennas for applications such as satellite communications, Wi-Fi routers, radar communications, and 5G communications is a key factor driving the growth of the metamaterials market.

End Use Insights

The aerospace and defense segment has held the highest market share of 36% in 2024. The defense industry needs customized solutions for communication. In the defense industries, the most widely used metamaterial devices are antennas, shields, windshields, EMC shields, and cloaking devices. Antennas can be used for secure communications in the defense sector, as they can be tuned according to required frequencies. The growth of the metamaterials market for aerospace and vertical defense is driven by the growing demand for bandwidth and the need for secure communications.

Metamaterials Market Companies

• Acoustic Metamaterials Group Ltd
• Metamagnetics Inc.
• Echodyne, Inc.
• Advanced Research Projects Agency 
• Fractal Antenna Systems Inc.
• Kymeta Corporation
• JEM Engineering
• Metaboards Limited
• TeraView
• Nano-Meta Technologies, Inc.
• Metamaterial Technologies Inc.
• Palo Alto Research Center Incorporated

Recent Developments

• In May 2024, Phomera Metamaterials (Phomera) has received an investment from BASF Venture Capital (BVC) as part of its Series A financing round, which aims to further advance the growth of the photonic crystal business. The primary goals of this investment are Phomera's capacity growth, downstream market development, and product enhancements.
• In March 2024, the Engineering and Physical Sciences Research Council (EPSRC), as part of UK Research and Innovation's commitment in metamaterials research through a new, collaborative NetworkPlus, will provide an additional £2.5 million in funding to the UK science and tech research community.

Segments Covered in the Report

By Product

• Electromagnetic
• Terahertz
• Tunable
• Photonic
• Frequency Selective Surface (FSS)

By Application

• Antenna and Radar
• Sensors
• Cloaking Devices
• Super Lens
• Light
• Sound Filtering

By End Use

• Healthcare
• Telecommunication
• Aerospace and Defense
• Electronics
• Automotive

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)