Aug 14, 2020 (AmericaNewsHour) --
Global Advanced Materials Market is estimated to reach $115.2 billion by 2025; growing at a CAGR of 10.6% from 2017 to 2025. Advanced materials are identified to have excellent qualities as related to traditional materials. Differentiation can be achieved from the molecular level and up, as new materials utilize the research communities recognize the chemical compound structures and other properties, and can be used to improve product performance, capability and efficiency of production processes. Advanced materials technology makes a positive and direct impact on economic development, the environment and quality of life, through improved processes and products, throughout the life cycle.
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Developing technologies, and advancements in product expansion and manufacturing are the drivers propelling the growth of the market. However, high price, complex fabrication, and low availability of advanced materials are the major glitches to deal with respect to market. Moreover, increasing adoption of advanced materials in lightweight vehicles is expected to open up new growth opportunities for the market in the coming years.
The global advanced materials market is segmented on the basis of product, application and geography. Product type is classified into ceramics, glasses, polymers, composites, and metal & alloys. Furthermore, application segment comprises medical devices, automotive, aerospace, electricals & electronics, industrial, and power.
Based on geography, the global advanced materials market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consists of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are Huntsman International LLC, Hexcel Corporation, Hanwa Group, Materion Corporation, 3M, Morgan Advanced Materials plc, Altairnano Blue Spark Technologies, Thomas Swan & Co. Ltd, Hitachi Chemical Co., Ltd., and Smartglass International Limited among others.
The key takeaways from the report:
The report will provide detailed analysis of Global Advanced Materials Market with respect to major segments such as product, application and geography.
The report will include the qualitative and quantitative analysis with market estimation over 2016 - 2025 and compound annual growth rate (CAGR) between 2017 and 2025
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Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Advanced Materials Market has been included in the report
Profile of the key players in the Global Advanced Materials Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Advanced Materials Market:
Metal & Alloys
Electricals & Electronics
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