Advanced Materials Market Forecasts to 2028 – Global Analysis By Product Type (Catalysts, Ceramics, Composites, Plastics, Resins and Others), End User (Marine, Oil & Gas and Others) and By Geography
According to Stratistics MRC, the Global Advanced Materials Market is accounted for $71.75 billion in 2020 and is expected to reach $173.87 billion by 2028 growing at a CAGR of 11.7% during the forecast period. Increasing demand for battery electric vehicles, evolution of aviation sector and rise in usage of consumer goods are driving the market growth. However, high prices of advanced materials are hampering the growth of the market.
Advanced materials modify the characteristics of existing materials in order to improve their performance in one or more than one characteristic. Advanced materials possess superior characteristics than their parent materials in terms of performance.
Based on the product type, the ceramics segment is going to have lucrative growth during the forecast period which can be attributed to the variety of ceramics available and characteristics specific to each material like high performance and being an economic alternative to conventional materials like plastics, metals and glass. By geography, Asia Pacific is going to have high growth during the forecast period owing to the rise in industries and increasing manufacturing activities in emerging countries like China and India in the region.
Some of the key players profiled in the Advanced Materials Market include 3M Advanced Materials, Cnano Technology Ltd., Cytec Solvay Group, Hanwa Group, Hexcel Corporation, Huntsman Corporation, Materion Corporation, Morgan Advanced Materials plc and Pyrogenesis Inc.
Estimated Market Size in 2020:
USD 71.75 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 173.87 billion
Tables, Graphs & Figures
Product Type, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Product Types Covered:
• Structural Material
• Functional Material
• Emerging Material
• Conductive Materials
• Insulation Materials
• Organic Materials
• Packaging Materials
• Woven & Non-Woven Materials
End Users Covered:
• Building & Construction
• Defense & Automotive
• Electrical & Electronics
• Health Care & Medical Devices
• Oil & Gas
• Paints & Coatings
• Power & Energy
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
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 2018, 2019, 2020, 2024 and 2027
- 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
Key Questions Answered In The Report
The Global Advanced Materials Market is majorly driven by increasing demand for battery electric vehicles, evolution of aviation sector and rise in usage of consumer goods.
The ceramics segment is growing at a highest CAGR owing to the variety of ceramics available and characteristics specific to each material like high performance and being an economic alternative to conventional materials like plastics, metals and glass.
Asia Pacific dominated with a significant market share due to the factors such as rise in industries and increasing manufacturing activities in emerging countries like China and India in the region.
North America market is growing at a highest CAGR owing to the presence of large market players and their strategic business advancements in the region.
Key players in Advanced Materials Market include 3M Advanced Materials, Cnano Technology Ltd., Cytec Solvay Group, Hanwa Group, Hexcel Corporation, Huntsman Corporation, Materion Corporation, Morgan Advanced Materials plc and Pyrogenesis Inc.
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