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Advanced Materials Market : Global Demand Analysis & Opportunity Outlook 2024

Published On : 09:40 AM, 14th September, 2017 REP-ID-448 Category: Chemicals and Materials

Advanced Materials Market Overview

Advanced materials refer to modification of existing materials in order to improve their performance in one or more than one characteristics. Advanced materials contain superior characteristics than their parent materials in terms of performance. Further, advanced materials are the key factors which have provided an extraordinary pace to the technological advancements. Medical devices, automotive, electrical, power and others are some of the major application area of the advanced materials.

Market Size & Forecast

Global advanced materials market is anticipated to expand at a robust compound annual growth rate (CAGR) of 10.6% over the forecast period i.e. 2017-2024. Global market of advanced materials stood at a valuation of around USD 42.9 Billion in 2016. Further, this market is expected to reach at a valuation of about USD 102.6 Billion by the end of forecast period. Factors such as emergence of new end use industries and growing concern towards development of new technologies are some of the major factors which are expected to fuel the growth of global advanced materials market during the forecast period.

Advanced materials market

In terms of regions, global advanced materials market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America has been the dominating region in global market of advanced materials and is expected to behold this lead during the forecast period. This growth of advanced materials market is expected to be driven by aerospace & automotive industries in this region. United States is anticipated to be the key contributor to the growth of advanced materials market in this region.

Additionally, Asia Pacific region has been the fastest growing market for advanced materials. Huge investment in research and development of industries such as automotive, healthcare, transportation and energy is expected to escalate the growth of advanced materials market in this region. Moreover, China and Japan are projected to be the leading market for advanced materials in this region where countries such as India and Singapore are expected to create favorable opportunity for advanced materials market in future.

In addition to this, Europe region is also anticipated to witness satisfactory growth during the forecast period. Economies such as U.K., Spain are likely to be the key contributors to the growth of advanced material market in this region. Furthermore, rising demand for energy in Middle East & Africa region is expected to fuel the growth of advanced material market in this region.

Market Segmentation

Our-in depth analysis of the global advanced materials market includes the following segments:

By Product

  • Structural Material
    • Steel
    • Light Alloys
    • Advanced Composite Material
    • Particulate Material
    • Ultra High Temperature Material
  • Functional Material
    • Electronic Material
    • Energy Material
    • Optoelectronic Material
    • Smart Material
    • Earth Abundant Element Based Functional Material
  • Emerging Material
    • Nanomaterial
    • Biomaterial
    • Polymeric & Soft Material
    • Glassy and Amorphous Material
    • Bio Inspired and Patterned Functional Materials

By End User

  • Electronic Industries
  • Energy & Power
  • Petrochemical Industries
  • Security and Defense
  • Aerospace Industries
  • Automotive Industries
  • Healthcare Industries
  • Other

By Region

Global advanced materials market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East & Africa) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers & Challenges

Global advanced materials market has been primarily driven by factors such as growing electrical & electronics sector and development of aerospace sector. Advanced material poses superior characteristics over conventional materials such as strength, durability, weight and elasticity. Growing popularity of advanced material in order to enhance existing technologies or to develop more effective technologies is escalating the growth of global advanced materials market.

Moreover, technological development in automotive sector to produce light weight and better energy efficient vehicles is a major factor which had led automobile industries to adopt advanced materials. This rising adoption of advanced material in automotive sector is expected to drive the growth of global advanced materials market in near future.

Moreover, increasing demand for energy and power across the globe is a major concern. Rising investments in research & development of power & energy sector is a major factor which is likely to drive the growth of global market of advanced materials. Additionally, rapid research and advancement with advanced materials in order to improve their effectiveness is also fostering the growth of global advanced materials market.

However, high price of advanced materials is a major challenge to the global advanced material market. Moreover, excessive price difference between advanced materials and conventional materials is likely to dampen the growth of global advanced materials market in near future.

Key Players

  • Morgan Advanced Materials
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Hanwha
  • Pyrogenesis Inc.
  • 3M Advanced Materials
  • Cytec Solvay Group
  • Hexcel Corporation
  • Huntsman Corporation
  • Applied Materials Inc.
  • Cnano Technology Ltd.
  • Materion Corporation

Scope & Context

Overview of the Parent Market

Analyst View

Segmentation

The global advanced materials market is segmented as follows:

  • By Product Market Size & Y-O-Y Growth Analysis
  • By End User Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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