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... View more

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.View less

Advanced Materials Published Insights

Coherent Market Insights Nanocoatings Market

Published Date : Oct 2024

Global nanocoatings market is estimated to be valued at USD 14.56 Bn in 2024, exhibiting a CAGR of 6.3% over the forecast period (2024-2031). Nanocoatings refer to the thin film coatings applied on a nano scale, usually measuring 1 to 100 nanometers in thickness. Thes... View more

Coherent Market Insights Polyurethane Foam Insulation Materials Market

Published Date : Oct 2024

Polyurethane foam insulation materials market is estimated to be valued at USD 37.24 Bn in 2024, exhibiting a CAGR of 5.2% over the forecast period 2024-2031. Polyurethane foam insulation has emerged as one of the leading insulation materials used across various end-u... View more

Coherent Market Insights Ball Clay Market

Published Date : Oct 2024

Global ball clay market is estimated to be valued at USD 419.3 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031. Ball clay is a type of clay that is extracted through mining and is widely used for manufacturing ceramic products. It... View more

Coherent Market Insights Chemical Vapor Deposition Market

Published Date : Sep 2024

Global chemical vapor deposition market is estimated to be valued at USD 24.27 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 9.1% from 2024 to 2031. Chemical vapor deposition (CVD) is a deposition method used to produce high-quality, high-performance,... View more

Coherent Market Insights Building Integrated Photovoltaics Market

Published Date : Sep 2024

Global building integrated photovoltaics market is estimated to be valued at USD 28.13 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 17.5% from 2024 to 2031. Building integrated photovoltaics (BIPV) refers to solar cells or modules that are integrated... View more

Coherent Market Insights Construction Materials Market

Published Date : Sep 2024

The global construction materials market is estimated to be valued at USD 1.47 Tn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. Construction materials refer to the raw materials that are used in the construction and building indus... View more

Coherent Market Insights Polyurethane Coating Market

Published Date : Sep 2024

The global polyurethane coating market is estimated to be valued at USD 21.34 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031. Polyurethane coatings are extensively used in various industries due to their versatility and ability t... View more

Coherent Market Insights Self Leveling Concrete Market

Published Date : Sep 2024

Global self leveling concrete market is estimated to be valued at USD 5.70 Bn in 2024 and exhibit a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031. The global self-leveling concrete market has been growing at a steady pace in the recent years. Self-level... View more

Coherent Market Insights Building Thermal Insulation Market

Published Date : Sep 2024

Global building thermal insulation market is estimated to be valued at USD 36.68 Billion in 2024 and exhibit a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. Building thermal insulation refers to materials used in construction for limiting heat transfer... View more

Coherent Market Insights Insulation Market

Published Date : Sep 2024

Growing construction activities across both residential and commercial sectors have significantly boosted the demand for thermal and acoustic insulation solutions. Rapid urbanization along with increasing spending on infrastructure development particularly in emerging... View more

Coherent Market Insights Fire Resistant Hydraulic Fluid Market

Published Date : Aug 2024

The global fire resistant hydraulic fluid market has been gaining significant traction over the recent years, owing to the stringency in industrial and safety standards. Hydraulic fluids are an integral part of machineries and systems used across various high-risk ind... View more

Coherent Market Insights Edge Banding Materials Market

Published Date : Aug 2024

Edge banding materials refer to narrow strips of material like plastic or wood that are applied to the edges of wood panels, boards, and doors. They help protect the exposed edges from damage and also enhance the aesthetic appeal of the product. The global edge bandin... View more

Coherent Market Insights Low Voc Or Zero Voc Paints Market

Published Date : Aug 2024

With increasing awareness regarding the impact of volatile organic compounds (VOCs) on the environment as well as human health, the global market for low VOC or zero VOC paints has been witnessing steady growth. VOCs are organic chemical compounds that have high vapor... View more

Coherent Market Insights Metal Additive Manufacturing Market

Published Date : Aug 2024

Global metal additive manufacturing market is estimated to be valued at USD 5.85 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 13.7% from 2024 to 2031. Additive manufacturing (AM), also known as 3D printing, is a process of joining materials to make o... View more

Coherent Market Insights High Performance Adhesives Market

Published Date : Aug 2024

The Global High Performance Adhesives Market is estimated to be valued at USD 15.48 Bn in 2024 and exhibit a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031. The global high performance adhesives market has been gaining significant traction over the past ... View more

Coherent Market Insights Plastic Component Market

Published Date : Aug 2024

Plastic components are basic building blocks made from plastics and polymers that are used in a wide range of industries including packaging, electrical & electronics, automobiles, construction, and consumer goods. Some common plastic components include bottles, c... View more

Coherent Market Insights Diamond Like Carbon Market

Published Date : Aug 2024

The global diamond like carbon market is estimated to be valued at USD 2.27 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031. Diamond-like carbon (DLC) is an amorphous carbon material that demonstrates properties similar to diamond... View more

Coherent Market Insights Spandex Market

Published Date : Aug 2024

Spandex is a synthetic fiber known for its exceptional elasticity. It is produced from polyurethane and contains between 85-95% polyurethane. Spandex fibers exhibit high moisture absorption as well as excellent elastic recovery, which allows it to be stretched and def... View more

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