The global metamaterials market will exhibit a CAGR of 21.6% from 2014 through 2020. The market was valued at US$322.6 mn in 2013. It is expected to reach US$1.27 bn by the end of 2020, according to a research report released by Transparency Market Research. The report is titled, “Metamaterials Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”. According to the report, the global metamaterials market is being propelled by a rising demand for wireless mobile communication. The market is also flourishing due to a demand for increasing the efficiency of solar PV cells, along with a growing interest in investments by venture capital firms.The future of the global metamaterials market also lies in medical applications through the use of graphene-based metamaterials. Even so, the global metamaterials market is hampered by the lack of awareness regarding the commercial uses of metamaterials. Another hindrance to the global metamaterials market is the set of problems faced in mass producing metamaterials.
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