Advanced Materials

High quality materials that offer superior desired characteristics for the intended purpose are called advanced materials. These can either be a single product or a combination of products. Manufacturers are focusing on developing new advanced materials and on fine-tuning already existing products to enhance its desired properties. The high quality of these materials has led to their application in physics, electronics, medical devices, green packaging, and wastewater treatment among others. Some of the popular advanced materials are helping manufacturers meet the rising demand for advanced steel and aluminum alloys, and a variety of ceramics that include silicon nitride, toughened zirconia, and aluminum nitride among others. Researchers have also developed a range of advanced fibers such as Dyneema, Vectran, M5, and Zylon PBO which is estimated to have a positive impact on the advanced materials market.

Advanced materials provide improved chemical and physical properties, including high stiffness coupled with lightweight, superior strength in reinforcing fiber, high resistance to chemicals and temperature, dimensional stability, and high flexibility, among others. Some of the end-use applications of advanced material markets are in aerospace, electronics and semiconductor, automotive, and medical devices. Advanced composites can be segmented (on the basis of their matrix phase) into ceramic matrix composites (CMCs), polymer matrix composites (PMCs) and metal matrix composites (MMCs).Europe is the largest market for advanced materials, due to rampant growth of various end-use industries in the region. North America is estimated to be the fastest growing region in the advanced materials market, followed by Asia Pacific, mainly due to major investments in R&D by major players, rampant demand for high-tech materials across various sectors in the region and growing concerns about environmental safety. For example, advanced materials are used in wastewater treatment due to features such as enhanced redox, strong adsorption, and photocatalytic properties. Polyvinyl chloride membrane reactor works as an advanced material that helps in ground water safety by removal of nitrate.  

Extensive R&D in the field of advanced materials has led to the development of an enhanced range of advanced materials. Some of the newly developed products in the advanced materials market are superior strength polymers (PPS, PEEK, and Radel), fiber-polymer composites (epoxy lytex glass), and aluminum with silicon carbide or boron fiber whiskers. Other types of advanced materials include metallic glasses, pyrolytic graphite, hard coatings (titanium nitride, titanium aluminum nitride), doped mediums, and optical modulators among others.

Some of the major factors driving growth of the global advanced materials market are rising demand for lightweight vehicles in order to increase fuel efficiency and lower CO2 emissions, and increasing demand for graphene as an advanced material. Graphene has various highly sought after features such as being a material that is thin and strong, transparent and pliable, superior conductor of electricity and heat, and high frequency. This has led to its wide application in various sectors which is expected to drive growth of the global advanced materials market over the forecast period (2016–2024).

Advanced Materials–Regulatory Scenario

Various government regulations are in place across the globe pertaining to production, usage and export/import of advanced materials. For example, manufacturers and end users in the advanced materials market must take into account standardized rules and regulations defined by the Toxic Substances Control Act (TSCA), Environmental Protection Agency (EPA) for graphene production and usage. Also, the U.S. Environmental Protection Agency that regulates the usage of carbon nanotubes. The Regulation (EC) No 1935/2004 provides the safety guidelines for advanced packaging materials especially used in food packaging. The Directive 84/500/EEC provides the EU laws on advanced ceramic materials which come into contact with food items.

Increasing demand for lightweight vehicles is expected to drive growth of the advanced materials market over the forecast period. Lightweighting is a trend in the automotive sector as it allows superior fuel efficiency, improved safety, and greater overall performance of the vehicles. According to Scientific American (a leading science magazine), fuel economy of a car increases by 6 to 8% by decreasing its weight by one tenth. For example, Nissan significantly reduced weight of its 2016 model cars such as Altima, Frontier, and JUKE, among others. There is a misconception that lightweight vehicles are not as safe as heavy vehicles, which, previously was posing a challenge to the growth of the lightweight vehicles market. However, over the years the general conception regarding safety issues of lightweight vehicles has changed, thanks to newly developed lightweight vehicles offering enhanced safety. Newly developed advanced materials (carbon, aluminum, and magnesium composites) provide lightweight vehicles with greater safety features. Some of the newly developed cars that are manufactured using advanced materials are BMW and BMW i8. The passenger cell of these cars is made of carbon fiber reinforced plastic (CFRP) which is very strong yet 50% lighter than steel. According to Coherent Market Insights, the global sales of passenger cars were pegged at 73.9 million in 2015 which has created a highly conducive environment for growth of the advanced materials market.

Some of the factors restraining the growth of the advanced materials market are high price, complex fabrication, and low availability of advanced materials. Production and usage of advanced materials require experienced professionals and extensive and continuous research which, in turn would result in high investments. Some of the emerging technologies that could boost market growth during the forecast period are expandable polymer technology, which is projected to have a significant positive impact on advanced electronics. Also, bio-based polycarbonate is also expected to gain significant traction in the energy and gas sector over the forecast period. Some of the major companies operating in the global advanced materials market are Akzo Nobel, 3M Company, BASF, Dow Chemical, and Momentive Performance Materials Inc.

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Advanced Materials Published Insights

Coherent Market Insights Fiber Reinforced Concrete Market

Published Date : Apr 2024

The Global Fiber Reinforced Concrete Market is estimated to be valued at USD 2.67 Bn in 2024 and, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031. Fiber reinforced concrete (FRC) is a composite material consisting of cement concrete reinforce... View more

Coherent Market Insights Masking Tapes Market

Published Date : Apr 2024

The global masking tapes market is estimated to be valued at USD 5,653.7 Mn in 2024, growing at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031. The global masking tapes market has been growing at a steady pace in the past few years. Masking tapes, also... View more

Coherent Market Insights Microcrystalline Cellulose Market

Published Date : Apr 2024

Microcrystalline cellulose is a partially depolymerized cellulose that can be commonly used as an excipient in pharmaceutical formulations. It is produced from a variety of pure cellulose sources like cotton linters and wood pulp via an alkaline treatment process whic... View more

Coherent Market Insights Wood Plastic Composite Market

Published Date : Apr 2024

The global wood plastic composite market is estimated to be valued at USD 8.24 Bn in 2024, growing at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031. The global wood plastic composite market has been gaining significant traction in the recent years, pr... View more

Coherent Market Insights Bioplastics Market

Published Date : Apr 2024

The global bioplastics market is estimated to be valued at approximately USD 10.94 Bn in 2024 and, growing at a compound annual growth rate (CAGR) of 20.3% from 2024 to 2031. The global bioplastics market has been witnessing significant growth in recent years driven b... View more

Coherent Market Insights Construction Aggregates Market

Published Date : Apr 2024

Global construction aggregates market is estimated to be valued at USD 437.73 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031. Construction aggregates are natural or synthetic granular materials such as sand, gravel, crushed stone... View more

Coherent Market Insights Industrial Filter Market

Published Date : Apr 2024

The industrial filter market is estimated to be valued at USD 3.94 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. The global industrial filter market has been growing steadily over the past few decades. Rapid industrialization a... View more

Coherent Market Insights Aluminum Deoxidizer Market

Published Date : Apr 2024

The aluminum deoxidizer market is estimated to be valued at USD 432.7 Mn in 2024, growing at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031 The aluminum deoxidizer market refers to the global industry involved in the production, distribution, and sale ... View more

Coherent Market Insights Global E Textiles Market

Published Date : Apr 2024

Global E-textiles market is estimated to be valued at USD 3.74 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031. E-textiles, also known as smart textiles or electronic textiles, are fabrics that have been developed with new technol... View more

Coherent Market Insights Recycled Lead Market

Published Date : Apr 2024

Global recycled lead market is estimated to be valued at USD 15.16 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031. Global recycled lead market has been witnessing steady growth over the past few years due to stringent government ... View more

Coherent Market Insights Global Foam Trays Market

Published Date : Mar 2024

The foam trays market is estimated to be valued at USD 3.55 Bn in 2024, growing at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031. The foam tray market has been growing steadily over the past few decades. Foam trays are lightweight and durable packagin... View more

Coherent Market Insights Precipitated Silica Market

Published Date : Mar 2024

The global precipitated silica market is estimated to be valued at USD 3.25 Bn in 2024 and, growing at a compound annual growth rate (CAGR) of 5% from 2024 to 2031. The global precipitated silica market refers to the finely divided amorphous form of silica obtained by... View more

Coherent Market Insights Sports Composites Market

Published Date : Mar 2024

The global sports composites market is estimated to be valued at USD 4.73 Bn in 2024 and, growing at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031. The global sports composites market has been witnessing significant growth in the recent years. Sports ... View more

Coherent Market Insights Concrete Sealer Market

Published Date : Mar 2024

The concrete sealer market is estimated to be valued at USD 2.06 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.The concrete sealer market has been growing steadily over the past few years. Concrete sealers are protective coating... View more

Coherent Market Insights Global Reverse Osmosis Membrane Market

Published Date : Mar 2024

Global reverse osmosis membrane market is estimated to be valued at USD 4.14 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 10.1% from 2024 to 2031. Global reverse osmosis membrane market has witnessed significant growth in the last few years due to gr... View more

Coherent Market Insights Global Toluene Market

Published Date : Mar 2024

Global toluene market is estimated to be valued at USD 28.12 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031. Toluene is an aromatic hydrocarbon that is colorless, sweet-smelling, and volatile. It is a clear liquid with a distinct... View more

Coherent Market Insights Polystyrene Foam Market

Published Date : Mar 2024

Global polystyrene foam market is estimated to be valued at USD 29.95 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. Polystyrene foam, commonly known as Styrofoam, is a synthetic aromatic polymer material produced from oil and g... View more

Coherent Market Insights Fermenter Market

Published Date : Mar 2024

The fermenter market is estimated to be valued at USD 1.98 Bn in 2024 and is expected to reach USD 3.37 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.  The global fermenter market has been witnessing significant growth in r... View more

Coherent Market Insights Global Bonding Sheet Market

Published Date : Mar 2024

Global bonding sheet market is estimated to be valued at USD 446.07 Mn in 2024, exhibiting a  compound annual growth rate (CAGR) of 7.5% from 2024 to 2031. Bonding sheets are materials that are used for joining or connecting two surfaces together. These find wide... View more

Coherent Market Insights Commodity Plastic Market

Published Date : Mar 2024

The commodity plastic market is estimated to be valued at USD 593.45 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. The global commodity plastic market has experienced steady growth over the past few decades. Commodity plastics ... View more

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