Global Advanced Materials Market

[Aarti Ghodke]

 

The Global Advanced Materials Market was documented US$ X.97 Bn and is expected to reach US$ X.44 Bn by 2027, at a CAGR of X.4 % during a forecast period.

 

Global Advanced Materials Market, By Region

 

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Global Advanced Materials Market Definition:

 

Global advanced material market is projected to reach US$ X.97 Bn and is expected to reach US$ X.44 Bn by 2027, at a CAGR of X.4 % during a forecast period. Also, advanced material segment is expected to grow at a CAGR of XX.5% over the estimated period. Advanced material aerospace material segment is expected to register a remarkable growth at a CAGR of XX%. Tata steel advanced materials research center is at CeNs Bengaluru to develop prototyping solution; the company is targeting a total capacity of 30 Mn tonnes by 2027. Asia pacific region is accounted for leading share of XX% in 2019 and expected to grow as the end-user segment is highly involved in consumption of advanced materials will help this market to grow.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Global Advanced Materials Market Growth Fundamentals:

 

The global advanced materials market is exceeding owing to conventional materials in terms of their greater properties, namely elasticity, high strength, durability and light weight which is contributing in the widespread adoption of the materials, components, and end-products used in these industries. Unstoppable growth in automotive making is estimated to increase on the account of rising demand also development in construction division provided by steel makers used in buildings and infrastructure is expected to drive the market at a significant rate over the forecast period.

 

As per Scientific American, an American science magazine, the growth in the economy of a car have been increasing by 6 to 8% by allowing reduction in one-tenth of its weight, since the automotive industry is mainly focusing on the development of energy-efficient vehicles and lightweight. For instance, Nissan has reduced the weight of its cars such as Frontier, Altima, and Juke is felling the market demand. Constant enrichment in research and development activities regarding Lithium-ion battery has increased is driving the demand of advanced material market since long. As per OICA, X4.7 Mn motor vehicle productions was seized in 2019, which represented a growth of X.X%. Growing electronics and electrical sector and improvement in aerospace area is expected to drive the growth of advanced materials market over estimated years.

 

Factors like, complexed process involved in the production and expensive machinery with lack off skilled person is expected to restraint the market growth and creating limitation for introduction of new market players to invest in the market.

Global Advanced Materials Market Segment analysis:

 

By product type, ceramics held a significant market share during the projected period. Attributed to the increase in aerospace, medicine, housing and construction, automotive and electronics. The housing and construction segment will continue to dominate the market and is expected to account for around X8% of the market share. Additionally, apprehensions over sustainability and wearing reserves of natural stones, will increase the advanced material demand for housing and constriction sector expected to dominate the market growth in coming years. Various type of ceramics includes Titanate, Zirconia Alumina and Silicon. From these Alumina material have been added as the largest market share holder sector, meanwhile class segmented is also helping this market to grow as ceramic coatings, ceramic matrix composites and monolithic are the widely utilised class of ceramics by the end user. Furthermore, Electro ceramics are widely used in superconducting, insulating, magnetic, piezoelectric and semiconducting applications which is fuelling the overall ceramic market demand.

Great Innovations Made Possible Using 3D Printing in Advanced Material

 

Continuous Composites, a company out of Idaho, uses 3D printing to produce continuous carbon fiber composites, which have long strands of carbon fiber running through the print. Other companies are producing and developing innovative methods of producing composites made with materials ranging from Kevlar and fiberglass to carbon fiber and other additives. Additionally, the US military has been working on innovative advanced 3D printed materials such as composite ceramic body armor. Using two different ceramic materials and a dual extrusion system, they’ve produced a material that’s superior in performance to standard armor, such innovation will highly contribute to increase the market demand in near futre.

Advanced Materials Market Regional Analysis:

 

Regionally, Asia Pacific is slated to account for a leading share of 58.0% by 2027 in the advanced material market. as number of industries and manufacturing activities are increasing in this region with rapid urbanization and industrialization in developing countries like Japan, India and China is also estimated to propel the advanced material market growth in the Asia Pacific Region. As china has largest manufacturing unit, accounted as prominent market driver in the region. China advanced material market was held at US$ XX Bn in 2019 and is anticipated to reach US$ XX.7 Bn during forecasted period. With recorded market share of XX.8% in 2019 likely to, grow at a market share of XX.9% by the end of 2027.

 

For the same segment, North America is expected to dominate the advanced materials market and is expected to grow at CAGR of XX % during the forecast period. Developed regions like U.S, and Canada are considered major contributors for the advanced materials market growth in the North America region. In 2019 market size was valued US$ XX Bn in while in U.S, market size was valued XX Bn and expected to increase by US$ XX Bn in coming years.

 

The objective of the report is to present a comprehensive analysis of the Global Advanced Materials Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

 

The report also helps in understanding Global Advanced Materials Market dynamics, structure by analysing the market segments and project the Global Advanced Materials Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Advanced Materials Market make the report investor’s guide.

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Global Advanced Materials market, By Product Type

 

• Lightweight Materials
• Metals & Alloys
• Nanomaterials
• Polymers
• Composites
• Ceramics
• Glass

Global Advanced Materials market, By End-Users

 

• Building and Construction
• Electrical and Electronics
• Oil and Gas and Energy
• Aerospace and Defense
• Paint and Coatings
• Packaging Industry
• Marine Sector
• Automotive
• Healthcare
• Others

Global Advanced Materials Market, By Region

 

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players Operating the Global Advanced Materials Market

 

• Momentive Performance Materials Inc
• TATA Advanced Materials Limited
• Wolverine Advanced Materials
• Perpetuus Advanced Materials
• Morgan Advanced Materials
• Huntsman Corporation
• Thomas Swan & Co. Ltd
• PyroGenesis Canada Inc
• DowDuPont Inc
• Akzo Nobel N.V
• 3M Company
• Hanwha Group
• Cytech Products Inc
• Hexcel Corporation
• BASF SE
• Materion Corporation
• Hitachi Chemical Co., Ltd.
• Altairnano Blue Spark Technologies
• Smartglass International Ltd

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