Advanced Functional Materials Market is expected to Grow with the CAGR of 6.4% over the forecast period.
Global Advanced Functional Materials Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025. Increasing demand for advanced materials in automation in the automobile, medical, aerospace, defense and other manufacturing industries, as well as surge in the information & communications technology with industrial evolution, are some important factors driving the growth of Global Advanced Functional Materials Market.
Advanced functional materials are design and discovery of new materials, particularly in the solid forms. The functional materials are invented through intellectual origins of materials science from physics, chemistry and engineering to understand ancient, phenomenological observations in metallurgy and mineralogy. The functional materials science includes hybridizing ceramics, metallurgy, solid-state physics, and chemistry. The most advanced functional materials are a materials science-based approach to nanotechnology which has been developed in support of micro fabrication research, using advances in metrology and synthesis. The advanced functional materials includes nanotechnology materials, liquid crystals, semiconductors, superconductors, optics, lasers, sensors, porous materials, light emitting materials, ceramics, and biological materials. Materials with structure at the nano scale often have unique optical, electronic, or mechanical properties. The field of nano materials is loosely organized, like the traditional field of chemistry, into organic carbon-based nano-materials such as graphene, carbon nanotubes, fullerenes, and inorganic nano-materials such as silicon.
The global advanced functional materials market is segmented on the basis of product type, end-user, and regional & country level. On the basis of product type, product type as advanced functional ceramics, advanced functional composites, nano-materials, fiber reinforced plastics, metal matrix composites, conductive polymers and others. The global advanced functional materials market can be segmented on the basis of the end-user industry as automobile, electrical & electronics, manufacturing, aerospace, building & construction, healthcare, energy and others.
The regions covered in global advanced functional materials market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global advanced functional materials market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global advanced functional materials market reports cover prominent players like,
Global Advanced Functional Materials Market Dynamics–
The key factor for growth of global advanced functional materials market is increasing demand for advanced materials in automation in the automobile, medical, aerospace, defense and other manufacturing industries as well as surge in the information & communications technology with industrial evolution. The growing demand of the information and communications technology (ICT) and of other electronics industries for advanced innovative material development to enhance the networking around the world are some of the major factors supplementing market growth. According to United Nations Conference on Trade and Development (UNCTAD) Division on technology and the ICT Analysis, the global production of ICT goods and services accounted for the 6.5% of global gross domestic product (GDP), and more than 100 million people are employed in the ICT sector alone.
In addition to this, the major driving factor of advanced functional materials is its substantial use in the robotics as shape memory alloy, stretchable elastomeric sensor and ionic polymer-metal composites, automobile using advanced lightweight materials like graphene, and many others. According to the statements by the International Federation of Robotics IFR in 2015, robot sales has been increased by 15% to 253,748 units as well as the electronics industry has rose by more than 41% in last few years. However, one of the major factors that restrict the advanced functional materials market is high investment and research and development cost for the new advanced materials. Moreover, growing manufacturing industries, devices with technological advancement using artificial intelligence, advent of nanotechnology, biomaterials etc. for electronics, electrical and healthcare industry can create various opportunities for the further growth of the global advanced functional materials market during the forecast period.
Advanced Functional Materials Market Regional Analysis–
The Asia Pacific is expected to dominate the world's strongest market for the growth of advanced functional materials due to rapidly growing advanced technology in robotics, electronics and telecommunication industry in this region. According to the European Engineering Industries Association in 2017, the total sales volume of robots was 253,300 units in 2015 which was rose by 37% with 261,800 units sold in 2017, in this region whereas in 2014, China was the largest manufacturer of electronic components; manufacturing in China was 19% of global manufacturing value added which accounts for 35.9% of China’s gross domestic product followed by Japan and India.
North America is expected to grow at a faster pace in the advanced functional materials market with the potential rate due to surge in ICT services with technological advancement using IoT, artificial intelligence and electronic industries in this region followed by Europe. According to UNCTAD report in 2015, United States ranked tops globally accounting more than USD 1106 Billion followed by Europe with an estimatation of USD 697 Billion for information and communications technology (ICT) growth which directly supplement the rise in demand for Advanced functional materials.
Key Benefits for Advanced functional materials Market Report–
Global advanced functional materials market report covers in depth historical and forecast analysis.
Global advanced functional materials Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global advanced functional materials market report helps to identify opportunities in market place.
Global advanced functional materials market report covers extensive analysis of emerging trends and competitive landscape.
By Product Type:
Regional & Country Analysis:
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa