Global Auxetic Materials Market Size (2023 - 2030)

The Global Auxetic Materials Market was valued at USD 53.07 million and is projected to reach a market size of USD 77.25 million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 5.51%.

Industry Overview:

Auxetic materials are metamaterials or man-made materials having a precise shape on a macroscopic level. These structures include hinge-like facets that change form when pressure is applied. Auxetic substances often possess a foam shape and have enormously low density. These substances may additionally show up in nature; however, they are very uncommon to find. For instance, some rocks and minerals reveal auxetic properties. These substances have a negative Poisson’s ratio, and they end up thicker if stretched alongside their length. Furthermore, it will become thinner when compressed length-wise.

Auxetic substances are resistant to denting as well as fracture, and as a consequence have the conceivable to fill essential cracks in a number of end-use applications. The development and discovery in current years of substances that can have a negative value of Poisson’s ratio, and our capacity to tailor its magnitude thru manufacturing to alter the underlying inner material buildings and deformation mechanisms, have led us to rethink the position of Poisson’s ratio in the improvement of substances having improved properties. We now realize that a negative Poisson’s ratio can lead to very dramatic enhancements in different properties not effortlessly achieved with high-quality Poisson’s ratio materials.

The rising need for shielding clothing in industrial and protection sectors and in the area of biomedical due to its ultimate energy absorption and impact resistance houses are prime elements riding the market. The rise in research & development activities, by various lookup institutes, to enhance their properties for load-bearing purposes is anticipated to supply beneficial possibilities to manufacturers. These factors are estimated to drive the growth of the market during the forecast period 2023-2028.

COVID-19 impact on the Auxetic Materials Market   

The auxetic materials market is badly impacted by the Covid-19 pandemic which started in late 2019 December and still going in many places. The highly contagious disease, prompted by a virus, extreme acute respiratory syndrome coronavirus two (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the ailment has unfolded to nearly 213 international locations around the globe with the World Health Organization declaring it a public fitness emergency on March 11, 2020.

Due to the COVID-19 pandemic, every industry faced a decrease in demand and it also affected the auxetic materials industry as well. The market is being impacted by the factors such as a decrease in the demand and supply of the material and the products which are made from the material. Auxetic materials play an important role in various medicinal and surgery-based procedures such as it is used to dilate the blood vessels during heart surgery which has benefitted thousands of patients during the pandemic period. It is also used in prosthetics and surgical implants which are estimated to drive the growth of the market after the pandemic is over.

The market is recovering at an unbelievable rate due to an increase in the number of heart patients and an increase in the number of surgeries is estimated to drive the market

MARKET DRIVERS:

The increased usage of auxetic materials in various industries is driving the growth of the market

Auxetic materials are utilized in a number of fields such as biomedical, filters, and auxetic fibers. They dilate blood vessels during coronary heart surgical treatment and can be used in surgical implants and prostheses. They are additionally employed as anchors to keep sutures, muscles, and ligaments in place. Filters made from auxetic foam substances are handy to smooth due to their pore structure; therefore, are broadly used in the food & beverage industry. Auxetic substances play a vital position in the manufacturing of crash helmets, physique armors, and sports clothing, as they furnish resistance in opposition to cracks and dents. These substances are additionally utilized in the aerospace industry.

MARKET RESTRAINTS:

The lack of physical properties is restraining the growth of the market

The lack of physical properties is restraining the growth of the market during the forecast period. The main drawback of auxetic materials is that sometimes they are too much porous and not dense enough for load bearing which reduces their capability to hold the hold and also creates a restrain in the growth of the market.

AUXETIC MATERIALS MARKET REPORT COVERAGE:

This research report on the global Auxetic Materials Market has been segmented and sub-segmented based on Material Structure, and region.

Global Auxetic Materials Market - By Material Structure:

• Structural Material Structure
• Functional Material Structure

Based on the material structure, the world auxetic substances market can be segmented into: structural material structure and functional material structure. Structural materials supply enhances the mechanical or physical capabilities of these materials. Functional substances are designed to realize events or stimuli that manifest during their lifetime. These substances are nevertheless in their developing tiers and a number of lookup institutes are working towards scaling up the manufacturing of auxetic material to the industrial level. Demand for these substances is predicted to rise significantly all through the forecast period.

Global Auxetic Materials Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

Geographically, North America is leading the market followed by Europe. The rise in research practices for defensive clothing and accessories through a number of automotive and space research organizations such as NASA is projected to extend the demand for auxetic substances in the region. For instance, recently, the U.S. Office of Naval Research (ONR) has filed a notion on the subject of “Applications of Auxetic Textiles for Military Protective Clothing” beneath the Small Business Technology Transfer (STTR) program. This would affect the demand for auxetic fabric in turn auxetic substances in the U.S. market.

Demand for auxetic substances in Asia Pacific is predicted to rise drastically in the close to future. Rapid industrialization in growing economies such as China and India are projected to fuel the market. In phrases of consumption, the auxetic cloth market in Latin America and Middle East & Africa is anticipated to extend at a low boom rate. However, product launches and capability expansion by a range of producers are predicted to improve the demand for auxetic substances in these regions.

Global Auxetic Materials Market Share by Company

1. Fibre2Fashion Pvt. Ltd

2. Auxadyne, LLC

3. Breton Industries Inc.

4. Rolls Royce

5. Corsair Innovations

6. Touchstone Engineering

7. Michigan Engineering

8. Advanced Fabric

9. Auxetic Engineering

The market is highly fragmented into many players and industries that are trying their best to dominate the market in the auxetic section, Prominent market players are pursuing a number of strategies, such as strategic joint ventures and partnership agreements, product innovations, lookup & development initiatives, geographical expansions, and mergers & acquisitions, to improve their foothold in the industry. Suppliers are additionally focusing on increasing their product choices to enhance the consumer experience.

Developing investments in research and improvement activities and growing the use of auxetic material in various industries related to healthcare, space, sports and is also increasing the number of market players which is also fueling the growth of the market during the forecast period.

NOTABLE HAPPENINGS IN THE GLOBAL AUXETIC MATERIALS MARKET IN THE RECENT PAST:

• Product Launch - In Feb 2022, AMALIA  a European-based agency, made armor using Auxetic material which is used in defense and protection.