Advanced Functional Materials Market
Advanced Functional Materials Market Forecasts to 2030 - Global Analysis By Type (Composites, Energy Materials, Nanomaterials, Ceramics, Conductive Polymers and Other Types), End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $119.5 BN |
|
Projected Year Value (2030) |
US $257.6 BN |
|
CAGR (2023 - 2030) |
11.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Advanced Functional Materials Market is accounted for $119.5 billion in 2023 and is expected to reach $257.6 billion by 2030 growing at a CAGR of 11.5% during the forecast period. Advanced functional materials are premium substances with exceptional qualities like high mechanical strength, corrosion resistance, flexibility, and high thermal & chemical stability. A set of diverse substances, including ceramics, nanomaterials, composites, and conductive polymers, are referred to as advanced functional materials. Advanced functional materials offer a wide range of applications in several end-use industries, including healthcare, electronics, aerospace, automobile, and others, due to their excellent qualities.
According to the OICA, Asia-Pacific dominated global automobile production recently. China is the largest producer of automobiles globally, with a production volume of 26.08 million automobiles in 2021, which shows an increase of 3% compared with 2020.
Market Dynamics:
Driver:
Increasing utilization of nanomaterials
The development of nuclear, biological, and chemical detection by nanotechnology is helpful for military and defence applications. Additionally, nanotechnology increases vehicle performance, lowers the number of military personnel needed, and lessens dangers to troops on the battlefield. Increasing investments and aircraft orders are predicted to cause the aerospace and defence sector to expand significantly throughout the forecast period.
Restraint:
Lack of expansion capacities
It is anticipated that technical advancement together with a lack of expansion capacity to meet customer demand will restrict the growth of market participants for advanced functional content. Additionally, the manufacturing procedure to create advanced functional materials is somewhat pricey. The cost of advanced functional materials tends to be expensive due to the lack of many manufacturers, which also becomes a major issue restricting the market's growth.
Opportunity:
Increasing utilization in industries
Due to their remarkable qualities, such as strong resistance to corrosion and bending, modern functional materials are being used more and more in a variety of industries as a replacement for plastics and metals. They are a better alternative to plastics and metals due to their superior heat resistance, physical stability, chemical inertness, and strong electrical characteristics. These characteristics, together with the material's widespread use in the electrical & electronics, automotive, healthcare, and other industries, are fueling market expansion.
Threat:
High price of the end products
Modern production facilities are needed to ensure the quality of advanced functional materials, which low-income nations still cannot afford. Additionally, due to their high cost, the import of such materials for use in other industries is restricted, which raises the final product's price. It is anticipated that the increase will be hampered by the relatively high cost of finished goods that contain cutting-edge functional materials.
Covid-19 Impact
Due to the COVID-19 outbreak, manufacturing facilities have been shut down across the majority of the country. As a result, demand for advanced functional materials has drastically declined, especially conductive polymers and nanomaterials, which has restricted the global market's growth. Additionally, the electric and electronics industries as well as the automobile industries make extensive use of complex functional materials. Production of smartphones and other electronic devices dropped significantly.
The nanomaterials segment is expected to be the largest during the forecast period
The nanomaterials segment is estimated to have a lucrative growth. Due to their thermal conductivity, electrical conductivity, durability, high strength and elasticity, high aspect ratio, field emissions, and high absorbent qualities, nanoparticles, particularly carbon nanomaterials, are widely used in the automotive and aviation industries. Additionally, the market is likely to rise faster due to the expanding use of nanomaterials in the field of nanomedicine in the healthcare sector.
The electronics & electrical segment is expected to have the highest CAGR during the forecast period
The electronics & electrical segment is anticipated to witness the fastest CAGR growth during the forecast period. Nanomaterials, conductive polymers, and sophisticated functional ceramics all make major contributions to this sector. Additionally, it is anticipated that R&D investments in the production of specialised products employing cutting-edge dimensional composites for aerospace and vehicles would open up a new doorway. Expanding the use of novel functional composites made by combining two or more materials preserves the unique qualities that industry players are developing.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to high demand for these materials in the electronics and automobile sector. The presence of manufacturing-based economies in the area has led to a significant increase in demand for novel functional materials of all kinds. Demand growth is being attributed to by the expansion of end-user industries like aerospace, paints & chemicals, infrastructure, and automotive.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to rapid growth in the healthcare and manufacturing sector in the developed nations. Due to the expanding demand for automotive products and the presence of several manufacturers of consumer electronics products, it is anticipated that the market for advanced functional materials would expand throughout the forecasted period. Due to rising investments in the aerospace and defence industries, there is a greater need for innovative functional materials in the region.
Key players in the market
Some of the key players profiled in the Advanced Functional Materials Market include Covestro AG, BASF SE, Arkema Group, Applied Nanotech Holdings, Inc, Evonik Industries AG, Bayer AG, Samsung Electro-Mechanics Co.,Ltd., 3M, CNANO Technologies Ltd., Kyocera Corporation, Momentive Performance minerals, DuPont, CeramTec, Hexcel Corporation, Sumitomo Chemical Co. Ltd., Morgan Advanced Materials and Kuraray Co. Ltd.
Key Developments:
In May 2023, Samsung launches the “Blue Elephant (PUCO) Nonviolence Campaign” for a world without youth cyberbullying, the event consisted of various programs, including a signing ceremony for a six-party business agreement, cyberbullying experience booths, an award ceremony for the prevention idea contest, and an exhibition of works.
In November 2022, Covestro Ag has developed a functional material solution for automotive applications. This innovative material can be used in car interiors in order to meet the changing automotive industry demand in the future.
Types Covered:
• Composites
• Energy Materials
• Nanomaterials
• Ceramics
• Conductive Polymers
• Other Types
End Users Covered:
• Energy and Power
• Healthcare
• Electrical & Electronics
• Automotive
• Aerospace & Defense
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Advanced Functional Materials Market, By Type
5.1 Introduction
5.2 Composites
5.3 Energy Materials
5.4 Nanomaterials
5.5 Ceramics
5.6 Conductive Polymers
5.7 Other Types
6 Global Advanced Functional Materials Market, By End User
6.1 Introduction
6.2 Energy and Power
6.3 Healthcare
6.4 Electrical & Electronics
6.5 Automotive
6.6 Aerospace & Defense
6.7 Other End Users
7 Global Advanced Functional Materials Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Covestro AG
9.2 BASF SE
9.3 Arkema Group
9.4 Applied Nanotech Holdings, Inc
9.5 Evonik Industries AG
9.6 Bayer AG
9.7 Samsung Electro-Mechanics Co.,Ltd.
9.8 3M
9.9 CNANO Technologies Ltd.
9.10 Kyocera Corporation
9.11 Momentive Performance minerals
9.12 DuPont
9.13 CeramTec
9.14 Hexcel Corporation
9.15 Sumitomo Chemical Co. Ltd.
9.16 Morgan Advanced Materials
9.17 Kuraray Co. Ltd
List of Tables
1 Global Advanced Functional Materials Market Outlook, By Region (2021-2030) ($MN)
2 Global Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
3 Global Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
4 Global Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
5 Global Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
6 Global Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
7 Global Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
8 Global Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
9 Global Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
10 Global Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
11 Global Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
12 Global Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
13 Global Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
14 Global Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
15 Global Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
16 North America Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
17 North America Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
18 North America Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
19 North America Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
20 North America Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
21 North America Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
22 North America Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
23 North America Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
24 North America Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
25 North America Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
26 North America Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
27 North America Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
28 North America Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
29 North America Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
30 North America Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
31 Europe Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
32 Europe Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
33 Europe Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
34 Europe Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
35 Europe Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
36 Europe Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
37 Europe Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
38 Europe Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
39 Europe Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
40 Europe Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
41 Europe Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
42 Europe Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
43 Europe Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
44 Europe Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
45 Europe Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
46 Asia Pacific Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
48 Asia Pacific Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
49 Asia Pacific Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
50 Asia Pacific Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
51 Asia Pacific Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
52 Asia Pacific Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
53 Asia Pacific Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
54 Asia Pacific Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
55 Asia Pacific Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
56 Asia Pacific Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
57 Asia Pacific Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
58 Asia Pacific Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
59 Asia Pacific Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
60 Asia Pacific Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
61 South America Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
62 South America Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
63 South America Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
64 South America Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
65 South America Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
66 South America Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
67 South America Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
68 South America Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
69 South America Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
70 South America Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
71 South America Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
72 South America Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
73 South America Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
74 South America Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
75 South America Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
76 Middle East & Africa Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
77 Middle East & Africa Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
78 Middle East & Africa Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
79 Middle East & Africa Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
80 Middle East & Africa Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
81 Middle East & Africa Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
82 Middle East & Africa Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
83 Middle East & Africa Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
84 Middle East & Africa Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
85 Middle East & Africa Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
86 Middle East & Africa Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
87 Middle East & Africa Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
88 Middle East & Africa Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
89 Middle East & Africa Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
90 Middle East & Africa Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
