The global advanced functional materials market is estimated to project USD 86.02 billion in 2019 and anticipated to grow with a CAGR of 7.6% by 2028. The advanced functional materials are the materials which, by performing some purpose, not only hold the physical forces but also serve as an integral component of a structure.
The Advanced Functional Materials market is expected to grow at a CAGR of 6.6% to reach USD 206.8 billion in 2027.
.jpg "The Global Advanced Functional Materials Market 2022-2032 (USD Billion)")
The bio-medical and electrical & electronic industries are a leading technology area for advanced functional materials. Globally, intensive research is performed to develop a wide variety of innovative usable materials and their applications, such as textiles. Projected to fuel the growth of advanced functional materials industry in the Asia Pacific region, South Korea, China, and Japan.
The major driver of the world's advanced functional material market is a desire for incredibly lightweight, multifunctional equipment that can be designed with advanced functional materials integration. The global demand for advanced functional materials is expected to be hindered by the very high price of end products that integrate advanced functional materials, especially in emerging and underdeveloped economies.
Increasing usage of advanced functional materials in the healthcare and chemical industry is the prevailing trend observed globally In addition, advanced usable materials decrease the carbon footprint of the part in three ways: it takes less energy during the production process; it takes and recycles less carbon footprint.
Advanced Functional Materials Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2017-2018 |
| Forecast Period | 2022-2027 |
| Study Period | 2017-2027 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2027 | USD 206.8 billion |
| Growth Rate | CAGR of 6.6% during 2017-2027 |
| Segment Covered | Based on the type, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Applied Nanotech Holdings, Inc., CNANO Technologies Ltd., 3M, Arkema Group., Evonik Industries AG., Covestro AG, BASF SE, Kyocera Corporation, Momentive Performance minerals, Bayer AG, DuPont, and Samsung Electro Mechanics Company |
Key Segments of the Global Advanced Functional Materials Market
Type Overview
- Advanced functional ceramics
- Nano-materials
- Advanced energy materials
- Conductive polymers
- Others
End-users Overview
- Healthcare
- Electrical and Electronics
- Energy
- Automobile
- Electrical and Electronics
- Chemical
- Aerospace
- Manufacturing
- Building & Construction
Regional Overview
North America
- U.S.
- Canad
Europe
- UK
- Germany
- France
- Rest of Europ
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacifi
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Afric
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global advanced functional materials market.
- The current market trends in the advanced functional materials market and valuable opportunities for the players
What does the report include?
- The study on the global advanced functional materials market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the advanced functional materials industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on type, application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global advanced functional materials market. The report will benefit: Every stakeholder involved in the Advanced Functional Materials market.
- Managers within the advanced functional materials industry looking to publish recent and forecasted statistics about the global advanced functional materials market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global advanced functional materials market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
the advanced functional materials market is growing at a CAGR of 6.6% during the forecast period.
advanced functional materials market was valued at USD 206.8 billion in 2027
The major contenders in the global dvanced functional materials market market The Applied Nanotech Holdings, Inc., CNANO Technologies Ltd., 3M, Arkema Group., Evonik Industries AG., Covestro AG, BASF SE, Kyocera Corporation, Momentive Performance minerals, Bayer AG, DuPont, and Samsung Electro Mechanics Company
The global advanced functional materials market is anticipated to grow at with a CAGR greater than 7.6 % during the forecast period. Several electronic and electrical systems make use as an integral component of advanced functional materials, especially ceramics. Advanced functional technologies also find extensive bio-medical uses. Advanced practical components are used in the design of surgical instruments, and are also used in the hip replacement process as femoral heads and acetabular cups.
Most of the latest functional technologies, nano-construction have interdisciplinary roles and are used in technologies, chemistry, medicines, electrical devices, pharmaceuticals and aerospace industries in different applications. Functional composites are innovative functional materials that have many materials' attractive properties and use them to construct a new functional content. Advanced energy technologies are used for others in devices such as batteries, solar panels, high-performance capacitors, super-capacitors and flywheels. Owing to the advancement of green energy systems, this category of advanced functional materials has experienced steady growth in demand.
Investments in R&D to manufacture specialty products using advanced aerospace and auto functional composites would provide the participants of AFM industry with new opportunities. The growing use of advanced functional composites created by mixing two or more materials preserves distinctive features created by participants in the industry.
Type Segment
Advanced shape related materials markets are divided into advanced functional ceramics, nano-materials, advanced energy materials, conductive polymers. The field of nano materials leads to a significant share of the mature demand for usable materials. At present, nanomaterials are the fastest growing industry segment for advanced functional materials. With a 19.7% CAGR, the global nanomaterials industry is rising. Because of its electrical, mechanical, catalytic and electronic properties nanomaterials are used in many industries. Markets are now being developed for nanomaterials including titanium dioxide, zinc oxide, silicone oxide nano powder and carbon nanotubes, nm. In applications such as filtration, electronics, cosmetics, electricity, medicine, chemical materials, coatings and catalysts, nanoparticles are used.
End-users Segment
In products such as condensers, electrical and electronics are rapidly using advanced functional material ceramics. Nanomaterials, advanced energy and conductive polymers constitute the most commonly studied types of advanced functional materials for electrical and electronics applications. Industries including electrical & electronics, fuel & energy, automobile, aerospace, pharmaceutical & health services are the demand for advanced functional contents. Advanced functional materials in three dimensions minimize the carbon footprint of the product in which it is integrated.
The global advanced functional materials market has been segmented, based on region, into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The Asia Pacific region is expected to account for the world's highest usable materials market share. The advent of sectoral output ecosystems in the region creates high demand for various types of advanced functional materials. China, Japan , India, and South Korea's aerospace , automobile, and electrical & electronics industries are expected to generate the bulk of demand in the Asia Pacific region. It is projected that the market for advanced usable materials from the Asia Pacific is followed by that from Western Europe and North America.
The key market players profiled in the report include 3M Company, CNANO Technologies Ltd., Applied Materials, Inc., Bayer AG, Samsung Electro-Mechanics Co., Ltd., Applied Nanotech Holdings, Inc.).