Advanced material refers to glasses, polymers, ceramics, composites, metals and alloys. Advanced materials can outperform conventional materials, in terms of their applications because the former has superior properties than conventional materials available. They exhibit properties such as high specific strength, excellent fatigue, abrasion resistance and stiffness.
A leading report has published that in 2015, the global advanced materials market was valued at US$ 42.76 billion. The global market is expected to reach US$ 102.48 billion by 2024. The CAGR is expected to grow at a rate of 10.4% between 2017 and 2022.
The end users are industries dealing in automotive, medical devices, aerospace, industrial power, electronics and electrical sectors. It is widely used in sectors which are planning for complete transformation by replacing metals and plastics with ceramics and composites in high performance applications.
The major driver for the growth of global advanced materials market is the huge consumption of composites in industries like construction, oil and gas. These materials can be easily produced on a large scale based on requirement.
The global advanced materials market is segmented as follows- glasses, composites, ceramics, polymers and metals & alloys. The market is further segmented as below-
• Application analysis
• Medical devices
• Electronics and Electrical
• Product analysis
• Metals and Alloys
Europe and North America are market leaders of global advanced materials market in terms of volume share. Sophistication of advanced technologies and large production capacity available in these regions has helped them capitalize the market and emerge as market leaders. Other regions where the global advanced materials market is spread are Latin America, Asia Pacific and Middle East and Africa.
The automotive industry offers huge platform of opportunities due to increasing demand of fuel efficient and emission efficient vehicles. Advanced materials can be widely used to produce lightweight vehicles. Consumer goods sector also offers great opportunity due to exponential growth rate of laptops and mobile phones. The search for more eco-friendly manufacturing techniques also has a great potential to develop the global market for advanced materials.
The key players in the advanced materials market are Huntsman Corporation, 3M Advanced Materials, Hexcel Corporation, Morgan Advanced Materials plc, Hanwa Group and Materion Corporation.
- Market segments
- Market Drivers, Restraints and Opportunities
- Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage