Industry Overview - Metal matrix composites (MMCs) are advanced materials formed by combining different metals or non-metals, offering superior performance compared to single components. Their core value lies in "performance designability," which meets stringent requirements for lightweight, high strength, high thermal conductivity, and corrosion resistance in downstream applications [2][4]. - The industry is experiencing unprecedented growth opportunities due to the continuous upgrades in high-end manufacturing sectors such as aerospace, military electronics, smart terminals, and semiconductor equipment [2]. Metal Matrix Composites Classification - MMCs can be categorized into metal matrix composites and layered metal composites. Metal matrix composites include continuous fiber-reinforced and discontinuous reinforced types, while layered metal composites are created through various advanced preparation techniques [4][6]. Industry Chain Analysis - The upstream of the MMC industry chain includes raw materials like aluminum, magnesium, titanium, and ceramic fibers/particles, along with auxiliary materials and production equipment [9][10]. - The midstream involves the preparation of MMCs and component manufacturing, while the downstream applications span aerospace, military electronics, smart terminals, and automotive industries [11][16]. Market Analysis - The market for metal matrix composites in China is projected to grow from CNY 26.4 billion in 2020 to CNY 42 billion by 2024, with a compound annual growth rate (CAGR) of 12.31%. By 2027, the market size is expected to reach CNY 61 billion [25]. - The market for metal matrix composites has expanded from aerospace applications to include smart terminals and new energy vehicles, driven by demand from emerging civilian industries [25]. Production Processes - The production process for metal matrix composites involves several key steps, including material mixing, hot isostatic pressing, forging, and high-temperature stamping, ensuring uniform distribution and stable performance of the composite materials [36][39]. Technological Advancements - The technology level of MMCs is characterized by complex multi-material and multi-process interactions, focusing on component design, interface control, and quality consistency. The industry is moving towards high-performance and integrated structural-functional materials [42][66]. - The future of MMCs is expected to focus on high-performance applications, with aluminum matrix composites achieving tensile strengths of 500 MPa and aiming for 600-1000 MPa [66][67]. Competitive Landscape - The global market for aluminum matrix composites is dominated by international giants, with companies like DWA Aluminium Composites and Alvant holding a combined market share of 70%. Domestic companies are rapidly catching up in specific segments [48][56]. - Key players in the Chinese market include Youyan Metal Composite Materials, Hunan Xiangtou Light Materials, and Zhongke Composite Materials, which are making significant advancements in technology and market presence [49][60]. Future Development Trends - The metal matrix composites industry is expected to achieve breakthroughs across multiple markets, driven by technological advancements and increased application levels in various sectors [64]. - The demand for MMCs is anticipated to grow as applications expand into military electronics, smart terminals, and semiconductor equipment, providing sustained momentum for market growth [69].