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 Metal Organic Framework Market

Published Date : Nov 2023

Global Metal Organic Framework Market is expected to reach US$ 1,398.5 Mn by 2030, from US$ 640.6 Mn in 2023, exhibiting a CAGR of 11.8% during the forecast period. Metal organic frameworks (MOFs) are porous polyme... View more

Coherent Market Insights Global Weathering Steel Market

Published Date : Oct 2023

The Global Weathering Steel Market size is expected to reach US$ 2.11 Billion by 2030, from US$ 1.29 Billion in 2023, at a CAGR of 7.3% during the forecast period. Weathering steel, also known as corten steel, is a self-protecting steel that develops ... View more

Coherent Market Insights Home Appliance Recycling Market

Published Date : Nov 2023

Global home appliance recycling market is expected to reach US$ 30.22 billion by 2030, from US$ 18.46 billion in 2023, exhibiting a CAGR of 7.3% during the forecast period. Home appliance recycling involves collect... View more

Coherent Market Insights Prescription Bottles Market

Published Date : Oct 2023

The Global Prescription Bottles Market size was valued at US$ 4.56 Billion in 2023 and is expected to reach US$ 8.13 Billion by 2030, grow at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. ... View more

Coherent Market Insights Air Conditioner Foil Market

Published Date : Oct 2023

The Air Conditioner Foil Market size is expected to reach US$ 11.15 billion by 2030, from US$ 5.72 billion in 2023, at a CAGR of 10% during the forecast period. Air conditioner foils are thin metal foils used in air conditioning systems to facilitate ... View more

Coherent Market Insights Silver Nanowires Market

Published Date : Oct 2023

The Silver Nanowires Market size is expected to reach US$ 1,185.1 million by 2030, from US$ 148.1 million in 2023, at a CAGR of 34.6% during the forecast period. Silver nanowires are ultrathin wires made of silver with diameters typically below 100 nm... View more

Coherent Market Insights Hemp Fiber Market

Published Date : Sep 2023

The Hemp Fiber Market size is expected to reach US$ 23.57 billion by 2030, from US$ 5.76 billion in 2022, at a CAGR of 22.3% during the forecast period. Hemp fiber is extracted from the stalk of the hemp plant and has gained popularity as a sustainabl... View more

Coherent Market Insights Foam Glass Market

Published Date : Sep 2023

The Foam Glass Market size is expected to reach US$ 2.17 billion by 2030, from US$ 1.22 billion in 2023, at a CAGR of 8.6% during the forecast period. Foam glass is an engineered glass material with... View more

Coherent Market Insights Medical Engineered Materials Market

Published Date : Sep 2023

The Medical Engineered Materials Market size is expected to reach US$ 50.11 billion by 2030, from US$ 19.66 billion in 2023, at a CAGR of 14.3% during the forecast period. Medical engineered materials refer to biom... View more

Coherent Market Insights Resolvers Market

Published Date : Sep 2023

The global Resolvers market size was valued at US$ 970 Million in 2023 and is expected to reach US$ 1670 Million by 2030, grow at a compound annual growth rate (CAGR) of 8% from 2023 to 2030. ... View more

Coherent Market Insights Natural Stone Slab Market

Published Date : Sep 2023

The Natural Stone Slab Market size is expected to reach US$ 108.3 Billion by 2030, from US$ 67.9 Billion in 2023, at a CAGR of 6.9% during the forecast period. Natural stone slabs are flat pieces of natural ... View more

Coherent Market Insights Recycled Textile Market

Published Date : Nov 2023

The Recycled Textile Market size is expected to reach US$ 8.32 billion by 2030, from US$ 5.61 billion in 2023, growing at a CAGR of 5.8% during the forecast period. Recycled textiles are fabrics manufactured from reclaimed and recycled clothing, ... View more

Coherent Market Insights External Wall Insulation Board Market

Published Date : Sep 2023

The External Wall Insulation Board Market size is expected to reach US$ 14.87 billion by 2030, from US$ 8.46 billion in 2023, at a CAGR of 8.4% during the forecast period. External wall insulation boards are sheets... View more

Coherent Market Insights Copper Sputtering Target Market

Published Date : Nov 2023

Global copper sputtering target market is estimated to be valued at US$ 1.29 billion in 2023, and is expected to reach US$ 2.19 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030.... View more

Coherent Market Insights Melamine Foam Block Market

Published Date : Aug 2023

The Melamine Foam Block Market size is expected to reach US$ 2.20 billion by 2030, from US$ 1.29 billion in 2023, at a CAGR of 7.9% during the forecast period. Melamine foam is a foam like material made from the ... View more

Coherent Market Insights Radio Frequency Transmitter Encapsulant Market

Published Date : Aug 2023

The global radio frequency transmitter encapsulant market size is projected to reach US$ 3.68 billion by 2030, from US$ 2.53 billion in 2023, at a CAGR of 5.5% during the forecast period. The increasing demand for ... View more

Coherent Market Insights Carbon Steel Market

Published Date : Nov 2023

Global steel market size was valued at US$ 1,002.81 billion in 2023 and is expected to reach US$ 1,284.51 billion by 2030, exhibiting a compounded annual growth rate (CAGR) of... View more

Coherent Market Insights Recycled Metal Market

Published Date : Nov 2023

Global recycled metal market is expected to be valued at US$ 54.48 Bn in 2023, and is projected to reach US$ 96.44 Bn by 2030, exhibiting a CAGR of 8.5% from 2023 to 2030. ... View more

Coherent Market Insights Gaseous And Liquid Helium Market

Published Date : Aug 2023

The global gaseous and liquid helium market size was valued at US$ 7.05 billion in 2023 and and is projected to reach US$ 29.87 billion by 2030 is expected to expand at a CAGR of 22.9% during the fore... View more

Coherent Market Insights Stair Stringer Market

Published Date : Nov 2023

Global stair stringer market size is estimated to be valued at US$ 1.7 Bn in 2023, and is estimated to reach US$ 2.47 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030. The market g... View more

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