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 Beryllium Market

Published Date : Jun 2024

Global beryllium market is estimated to be valued at USD 159.1 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031. Beryllium is a rare metal known for its high strength, hardness and density. It has excellent corrosion resistance and... View more

Coherent Market Insights Thermoplastic Polyurethane Films Market

Published Date : Jun 2024

The Thermoplastic Polyurethane (TPU) films market is estimated to be valued at USD 3.67 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031. Thermoplastic polyurethane (TPU) is a type of polyurethane that contains linear segmented blo... View more

Coherent Market Insights Corrugated Pipe Market

Published Date : Jun 2024

Global corrugated pipe market is estimated to be valued at USD 16,549.5 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. Corrugated pipes are highly durable and flexible pipes made from materials such as plastic, metal, and concre... View more

Coherent Market Insights Tile Backer Board Market

Published Date : May 2024

The global tile backer board market is estimated to be valued at USD 2.38 Bn in 2024, growing at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031. The global tile backer board market has been gaining significant traction over the recent past, owing to ra... View more

Coherent Market Insights Industrial Flooring Market

Published Date : May 2024

Global industrial flooring market is estimated to be valued at USD 9.51 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. Global industrial flooring market has been witnessing significant growth in the recent years due to rapid ind... View more

Coherent Market Insights Polymer Concrete Market

Published Date : May 2024

The polymer concrete market is estimated to be valued at USD 857.7 Mn in 2024, growing at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031. Polymer concrete is a composite material obtained by mixing aggregate, such as sand or gravel, with a polymer matr... View more

Coherent Market Insights Engineering Plastics Market

Published Date : May 2024

Global engineering plastics market is estimated to be valued at USD 119.32 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. Engineering plastics are synthetic materials that have a combination of desirable properties that allow th... View more

Coherent Market Insights Pvc Pipes Market

Published Date : May 2024

Global PVC pipes market is estimated to be valued at USD 25.97 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. PVC or polyvinyl chloride pipes have emerged as a viable alternative to traditional pipes in both indoor and outdoor p... View more

Coherent Market Insights Ion Exchange Membrane Market

Published Date : May 2024

Global ion exchange membrane market is estimated to be valued at USD 1.38 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. Ion exchange membrane are semi-permeable membranes that selectively allows the transport of ions across it,... View more

Coherent Market Insights Aluminum Cable Market

Published Date : May 2024

Global aluminum cable market is estimated to be valued at USD 25.23 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.  Aluminum cables are used in power transmission and distribution networks as these are  lightweight, co... View more

Coherent Market Insights Sustainable Battery Materials Market

Published Date : May 2024

Global sustainable battery materials market is estimated to be valued at USD 49.85 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.  There has been growing demand for sustainable battery materials across the globe due to incr... View more

Coherent Market Insights Textile And Apparel Market

Published Date : May 2024

Global textile and apparel market has witnessed growth over the past years due to increasing population, rapid urbanization, rising disposable incomes in emerging economies and ever changing fashion trends. Textiles are one of the most visible representations of cultu... View more

Coherent Market Insights Windows Films Market

Published Date : May 2024

The global windows films market is estimated to be valued at USD 12.18 Bn in 2024, growing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031. The global windows films market is expected to witness significant growth during the forecast period due to in... View more

Coherent Market Insights Fumed Silica Market

Published Date : May 2024

The global fumed silica market is estimated to be valued at USD 1.16 Bn in 2024, growing at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. The global fumed silica market has been witnessing significant growth in recent years. Fumed silica, also known ... View more

Coherent Market Insights Us Copper Clad Steel Wire Market

Published Date : May 2024

The U.S. copper clad steel wire market is estimated to be valued at USD 2,704.2 Mn in 2024, growing at a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031. Copper clad steel wire is a conductive material made by bonding a layer of copper onto a steel wire c... View more

Coherent Market Insights Aramid Fibers Market

Published Date : May 2024

The global aramid fibers market is estimated to be valued at USD 3.79 Bn in 2024, growing at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031. The global aramid fibers market is projected to witness significant growth during the forecast period due to in... View more

Coherent Market Insights Microspheres Market

Published Date : May 2024

The microspheres market is estimated to be valued at USD 7.93 Bn in 2024, growing at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031. Microspheres are solid, roughly spherical particles that range in diameter from 1 to 1,000 μm. They are made from va... View more

Coherent Market Insights Advanced Ceramics Market

Published Date : Apr 2024

The global advanced ceramics market is estimated to be valued at USD 11.89 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. The global advanced ceramics market has been growing at a steady pace in the past few years. Advanced cera... View more

Coherent Market Insights Silicon Metal Market

Published Date : Apr 2024

The global silicon metal market is estimated to be valued at USD 7.61 Bn in 2024, growing at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031. The global silicon metal market has been gaining significant traction over the recent years owing to widespread... View more

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

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