Advanced Materials Market Size, Share, Outlook

The market size is forecast to increase from $80.28 billion in 2023 to $128.89 billion in 2030 and is poised to register a 9.93% growth over the forecast period from 2023 to 2030.

Further, in 2023, demand in the chemicals and advanced materials end markets continues to be strong, in particular, Semiconductors and batteries are driving demand, supporting the overall market growth prospects.

 

Advanced Materials Market Analysis

Advanced Materials is one of the fastest-growing segments in the chemicals and materials industry. Leading companies are investing significantly in new product launches to outpace the competition. Enhancement or modification of specific properties of traditional materials to produce smart materials, nanoengineered materials, and others to cater to the specific requirements of applications is widely observed.

Advanced materials offer potential benefits of enhanced properties, energy efficiency, and environmental stability, support the development of innovative products, and can contribute to overall cost-effectiveness and supply chain efficiency for companies.

Robust market demand for materials with superior properties from a wide range of end-user industries including automotive, nuclear energy, plastics, oil and gas, aerospace and defense, and other verticals is supporting the market outlook.

Rapid industrialization, high-performance properties of advanced materials, widening end-user demand for lightweight and smart materials, adoption across Battery EVs, medical, aviation, and defense applications, the advent of nanotechnology and others support the market outlook. On the other hand, high prices of materials, and low acceptance among new applications pose growth barriers.

 

Advanced Materials Market Size Outlook to 2028

Market Dynamics

Market Trend- Technological advancements support the design and development of advanced materials

Technological advancements in the fields of 3D printing coupled with machine learning, artificial intelligence, cloud computing, nanoengineering, augmented reality, and others are supporting the design and development of advanced materials. For instance, researchers at the University of Cambridge have developed a 3D printing process that can produce intricate, porous structures at a large scale, which could lead to the development of new types of nanomaterials for use in advanced applications.

 

Market Driver- Integration of Structural and functional properties in advanced materials

Increased adoption of structural and functional integration in advanced materials for imparting desired properties into advanced materials is further strengthening the market. By integrating functionality directly into the material's structure, the resulting materials have enhanced properties and capabilities. For example, the integration of sensors into a material can allow it to detect and respond to changes in its environment, while the integration of energy storage and conversion capabilities can enable materials to store and release energy on demand. Similarly, functional materials are becoming more intelligent, thanks to advances in materials science and engineering.

 

Market Opportunity- Widening application segments support new product launches

Advanced materials find numerous applications in various industries, and their potential uses are constantly expanding as new materials are developed and existing materials are improved. Building on the technological advancements in the fields of ceramics, metallurgy, nanotechnology, chemistry, physics, and biomaterials, companies are developing cheaper, more sophisticated, and more user-friendly products.

A wide range of advanced materials such as ceramics, value-added metals, electronic materials, polymers, composites, and biomaterials are marketed worldwide. The use of advanced materials is rapidly increasing in many industries, including aerospace, automotive, healthcare, energy, electronics, and construction. These materials offer improved properties such as strength, durability, lightweight, and flexibility, which can lead to better performance, increased efficiency, and reduced costs. The use of advanced materials is expected to continue to grow in the future, as new materials are developed and existing materials are improved. This trend is driven by the need for improved performance, efficiency, and sustainability across applications.

 

Market Segmentation

The global Advanced Materials Market is segmented into Materials Types, Applications, and Countries.

Polymers held the dominant market share of 30% in 2022

High-performance polymers are usually synthetic and are engineered to meet specific performance requirements of various applications. Polymer-based advanced materials play a major role in achieving the net-zero targets of countries worldwide. Polymers and polymer-based composites can be specifically designed to produce parts with excellent mechanical properties that also have advanced functionalities.

Advanced polymer materials are used in industries such as aerospace, automotive, construction, electronics, energy, healthcare, and packaging. The development of sustainable polymer materials also plays an important role in technology developments, including polymers used in biomedical applications.

 

 

The Automotive and Transportation Industry is the fastest-growing sector during the forecast period

Advanced high-strength steels, non-ferrous alloys, such as aluminum, magnesium, and titanium alloys, and others are widely used for reduced weight and improved strength. Further, Carbon fiber–reinforced or fiberglass-reinforced composites offer numerous new design possibilities for structural components in cars. They are used in the manufacturing of car bodies, interiors, and exterior parts because they are lightweight, strong, and durable. In addition, Ceramics used in brake discs owing to high-temperature resistance and offer better braking performance also supports the overall market outlook.

Leading companies offer products for enhanced safety, comfort, aesthetics, efficiency, and environmental impact of the vehicle. BMW uses carbon fiber reinforced polymer (CFRP) extensively in its vehicles, including the i3 and i8 electric vehicles. Tesla uses aluminum and high-strength steel alloys, Ford uses aluminum in its pickup trucks to reduce weight and improve fuel efficiency. Similarly, Audi, General Motors, Toyota, Mercedes-Benz, and others also use advanced materials in their vehicles.

In addition to OEMs, components, repair, and aftermarket presents a strong demand for advanced materials in the automotive and transportation sector.

 

Asia Pacific is the fastest growing market for the forecast period 2023 to 2030

Driven by China, Asia Pacific held the dominant market share in the world, with a 63.5% market share.

China- The large size of the industry is predominantly driven by the country’s vast construction and infrastructure sector. Ongoing large-scale infrastructure projects in manufacturing, industrial, aerospace, energy, healthcare, and other sectors support commercial applications for advanced material manufacturers.

The country is the largest automotive producer with most global companies expanding their operations in China. Electric Vehicles are widely being produced in China, which supports the advanced materials market. The government is planning to promote the industry by developing an action plan for standards leading the development of the 3D printing industry and proposes to develop 80-100 standards involving proprietary materials, technologies, equipment, software, and service.

The demand for advanced materials in China is driven by the country's rapid economic growth, urbanization, and increasing technological advancement. China presents lucrative growth opportunities, predominantly driven by adoption across the healthcare industry for the production of implants. Further, consumer goods, automotive, and aerospace & defense sectors also support the market outlook.

Robust manufacturing industry applications are encouraging the demand for ceramics, resins, polymers, and other advanced materials of different applications, encouraging the foray of several companies into the industry. Further, low-cost advantages, raw material availability, and favorable government policies support the demand for semiconductors and electronics.

 

Segmentation

By Materials Type

• Graphene
• Lightweight Materials
• Bio-Derived Materials
• Ceramics
• Nanomaterials
• Smart Materials
• Fibers
• Resins
• Polymers
• Composites
• Catalysts
• Others

 

By Application

• Building and Construction
• Aerospace and Defense
• Automotive and Transportation
• Electrical and Electronics
• Energy and Power
• Healthcare
• Marine
• Others

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Key Players

Leading companies profiled in the study include-

• Hexcel Corporation
• 3M Company
• BASF SE
• AkzoNobel NV
• DowDuPont
• Morgan Advanced Materials
• Pyrogenesis Canada
• Momentive Performance Materials

 

Advanced Materials Market Outlook 2023

1 Market Overview

1.1 Introduction to Advanced Materials Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Advanced Materials Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Advanced Materials Market Companies with Area Served

4.2.2 Products Offerings Global Advanced Materials Market

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 Post-COVID-19 Scenario- Low Growth Case

5.1.3 Post-COVID-19 Scenario- Reference Growth Case

5.1.4 Post-COVID-19 Scenario- Low Growth Case

 

6 Global Advanced Materials Market Trends

6.1 Global Advanced Materials Revenue (USD Million) and CAGR (%) by Type (2018-2028)

6.2 Global Advanced Materials Revenue (USD Million) and CAGR (%) by Applications (2018-2028)

6.3 Global Advanced Materials Revenue (USD Million) and CAGR (%) by Regions (2018-2028)

 

7 Global Advanced Materials Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Advanced Materials Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Advanced Materials Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Advanced Materials Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Advanced Materials Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Advanced Materials Development Regional Status and Outlook

8.1 Global Advanced Materials Revenue (USD Million) By Regions (2018-2022)

8.2 North America Advanced Materials Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Advanced Materials Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Advanced Materials Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Advanced Materials Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Advanced Materials Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Advanced Materials Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Advanced Materials Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Advanced Materials Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Advanced Materials Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Advanced Materials Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Advanced Materials Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Advanced Materials Revenue (USD Million) by Applications (2018-2022)

8.5 South America Advanced Materials Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Advanced Materials Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Advanced Materials Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Advanced Materials Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Advanced Materials Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Advanced Materials Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Advanced Materials Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Advanced Materials Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Advanced Materials Market Revenue (USD Million), by Type, and Applications (2023-2028)

10.1 Global Advanced Materials Revenue (USD Million) and Market Share (%) by Type (2023-2028)

10.1.1 Global Advanced Materials Revenue (USD Million), and Market Share (%) by Type (2023-2028)

10.2 Global Advanced Materials Revenue (USD Million) and Market Share (%) by Applications (2023-2028)

10.2.1 Global Advanced Materials Revenue (USD Million), and Market Share (%) by Applications (2023-2028)

11 Global Advanced Materials Development Regional Status and Outlook Forecast

11.1 Global Advanced Materials Revenue (USD Million) By Regions (2023-2028)

11.2 North America Advanced Materials Revenue (USD Million) by Type, and Applications (2023-2028)

11.2.1 North America Advanced Materials Revenue (USD) Million by Country (2023-2028)

11.2.2 North America Advanced Materials Revenue (USD Million), by Type (2023-2028)

11.2.3 North America Advanced Materials Revenue (USD Million), Market Share (%) by Applications (2023-2028)

11.3 Europe Advanced Materials Revenue (USD Million), by Type, and Applications (2023-2028)

11.3.1 Europe Advanced Materials Revenue (USD Million), by Country (2023-2028)

11.3.2 Europe Advanced Materials Revenue (USD Million), by Type (2023-2028)

11.3.3 Europe Advanced Materials Revenue (USD Million), by Applications (2023-2028)

11.4 Asia Pacific Advanced Materials Revenue (USD Million) by Type, and Applications (2023-2028)

11.4.1 Asia Pacific Advanced Materials Revenue (USD Million), by Country (2023-2028)

11.4.2 Asia Pacific Advanced Materials Revenue (USD Million), by Type (2023-2028)

11.4.3 Asia Pacific Advanced Materials Revenue (USD Million), by Applications (2023-2028)

11.5 South America Advanced Materials Revenue (USD Million), by Type, and Applications (2023-2028)

11.5.1 South America Advanced Materials Revenue (USD Million), by Country (2023-2028)

11.5.2 South America Advanced Materials Revenue (USD Million), by Type (2023-2028)

11.5.3 South America Advanced Materials Revenue (USD Million), by Applications (2023-2028)

11.6 Middle East and Africa Advanced Materials Revenue (USD Million), by Type, and Applications (2023-2028)

11.6.1 Middle East and Africa Advanced Materials Revenue (USD Million), by Region (2023-2028)

11.6.2 Middle East and Africa Advanced Materials Revenue (USD Million), by Type (2023-2028)

11.6.3 Middle East and Africa Advanced Materials Revenue (USD Million), by Applications (2023-2028)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List Of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Advanced Materials Market Companies with Areas Served

Table 3 Products Offerings Global Advanced Materials Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Advanced Materials Revenue (USD Million) And CAGR (%) By Type (2018-2028)

Table 8 Global Advanced Materials Revenue (USD Million) And CAGR (%) By Applications (2018-2028)

Table 9 Global Advanced Materials Revenue (USD Million) And CAGR (%) By Regions (2018-2028)

Table 10 Global Advanced Materials Revenue (USD Million) By Type (2018-2022)

Table 11 Global Advanced Materials Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Advanced Materials Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Advanced Materials Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Advanced Materials Market Share (%) By Regions (2018-2022)

Table 16 North America Advanced Materials Revenue (USD Million) By Country (2018-2022)

Table 17 North America Advanced Materials Revenue (USD Million) By Type (2018-2022)

Table 18 North America Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Advanced Materials Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Advanced Materials Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Advanced Materials Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Advanced Materials Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Advanced Materials Revenue (USD Million) By Country (2018-2022)

Table 26 South America Advanced Materials Revenue (USD Million) By Type (2018-2022)

Table 27 South America Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Advanced Materials Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Advanced Materials Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Advanced Materials Revenue (USD Million) By Applications (2018-2022)

 

Table 31 Financial Analysis

Table 32 Global Advanced Materials Revenue (USD Million) By Type (2023-2028)

Table 33 Global Advanced Materials Revenue Market Share (%) By Type (2023-2028)

Table 34 Global Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Table 35 Global Advanced Materials Revenue Market Share (%) By Applications (2023-2028)

Table 36 Global Advanced Materials Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2028)

Table 37 North America Advanced Materials Revenue (USD)By Country (2023-2028)

Table 38 North America Advanced Materials Revenue (USD Million) By Type (2023-2028)

Table 39 North America Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Table 40 Europe Advanced Materials Revenue (USD Million) By Country (2023-2028)

Table 41 Europe Advanced Materials Revenue (USD Million) By Type (2023-2028)

Table 42 Europe Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Table 43 Asia Pacific Advanced Materials Revenue (USD Million) By Country (2023-2028)

Table 44 Asia Pacific Advanced Materials Revenue (USD Million) By Type (2023-2028)

Table 45 Asia Pacific Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Table 46 South America Advanced Materials Revenue (USD Million) By Country (2023-2028)

Table 47 South America Advanced Materials Revenue (USD Million) By Type (2023-2028)

Table 48 South America Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Table 49 Middle East and Africa Advanced Materials Revenue (USD Million) By Region (2023-2028)

Table 50 Middle East and Africa Advanced Materials Revenue (USD Million) By Region (2023-2028)

Table 51 Middle East and Africa Advanced Materials Revenue (USD Million) By Type (2023-2028)

Table 52 Middle East and Africa Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

 

List Of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Advanced Materials Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Advanced Materials Revenue Market Share (%) By Type (2022)

Figure 5 Global Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Advanced Materials Revenue Market Share (%) By Applications (2022)

Figure 7 Global Advanced Materials Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Advanced Materials Market Share (%) By Regions (2022)

Figure 9 North America Advanced Materials Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Advanced Materials Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Advanced Materials Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Advanced Materials Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Advanced Materials Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Advanced Materials Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Advanced Materials Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Advanced Materials Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Advanced Materials Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Advanced Materials Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Advanced Materials Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Advanced Materials Revenue (USD Million) By Type (2023-2028)

Figure 25 Global Advanced Materials Revenue Market Share (%) By Type (2028)

Figure 26 Global Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Figure 27 Global Advanced Materials Revenue Market Share (%) By Applications (2028)

Figure 28 Global Advanced Materials Market Revenue (USD Million) By Regions (2023-2028)

Figure 29 North America Advanced Materials Revenue (USD Million) By Country (2023-2028)

Figure 30 North America Advanced Materials Revenue (USD Million) By Type (2023-2028)

Figure 31 North America Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Figure 32 Europe Advanced Materials Revenue (USD Million) By Country (2023-2028)

Figure 33 Europe Advanced Materials Revenue (USD Million) By Type (2023-2028)

Figure 34 Europe Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Figure 35 Asia Pacific Advanced Materials Revenue (USD Million) By Country (2023-2028)

Figure 36 Asia Pacific Advanced Materials Revenue (USD Million) By Type (2023-2028)

Figure 37 Asia Pacific Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Figure 38 South America Advanced Materials Revenue (USD Million) By Country (2023-2028)

Figure 39 South America Advanced Materials Revenue (USD Million) By Type (2023-2028)

Figure 40 South America Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Figure 41 Middle East and Africa Advanced Materials Revenue (USD Million) By Region (2023-2028)

Figure 42 Middle East and Africa Advanced Materials Revenue (USD Million) By Region (2023-2028)

Figure 43 Middle East and Africa Advanced Materials Revenue (USD Million) By Type (2023-2028)

Figure 44 Middle East and Africa Advanced Materials Revenue (USD Million) By Applications (2023-2028)

Figure 45 Bottom-Up and Top-Down Approaches For This Report

Figure 46 Data Triangulation