PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1308666
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1308666
Advanced Functional Materials Market Forecasts to 2030 - Global Analysis By Type (Composites, Energy Materials, Nanomaterials, Ceramics, Conductive Polymers and Other Types), End User and By Geography
According to Stratistics MRC, the Global Advanced Functional Materials Market is accounted for $119.5 billion in 2023 and is expected to reach $257.6 billion by 2030 growing at a CAGR of 11.5% during the forecast period. Advanced functional materials are premium substances with exceptional qualities like high mechanical strength, corrosion resistance, flexibility, and high thermal & chemical stability. A set of diverse substances, including ceramics, nanomaterials, composites, and conductive polymers, are referred to as advanced functional materials. Advanced functional materials offer a wide range of applications in several end-use industries, including healthcare, electronics, aerospace, automobile, and others, due to their excellent qualities.
According to the OICA, Asia-Pacific dominated global automobile production recently. China is the largest producer of automobiles globally, with a production volume of 26.08 million automobiles in 2021, which shows an increase of 3% compared with 2020.
Market Dynamics:
Driver:
Increasing utilization of nanomaterials
The development of nuclear, biological, and chemical detection by nanotechnology is helpful for military and defence applications. Additionally, nanotechnology increases vehicle performance, lowers the number of military personnel needed, and lessens dangers to troops on the battlefield. Increasing investments and aircraft orders are predicted to cause the aerospace and defence sector to expand significantly throughout the forecast period.
Restraint:
Lack of expansion capacities
It is anticipated that technical advancement together with a lack of expansion capacity to meet customer demand will restrict the growth of market participants for advanced functional content. Additionally, the manufacturing procedure to create advanced functional materials is somewhat pricey. The cost of advanced functional materials tends to be expensive due to the lack of many manufacturers, which also becomes a major issue restricting the market's growth.
Opportunity:
Increasing utilization in industries
Due to their remarkable qualities, such as strong resistance to corrosion and bending, modern functional materials are being used more and more in a variety of industries as a replacement for plastics and metals. They are a better alternative to plastics and metals due to their superior heat resistance, physical stability, chemical inertness, and strong electrical characteristics. These characteristics, together with the material's widespread use in the electrical & electronics, automotive, healthcare, and other industries, are fueling market expansion.
Threat:
High price of the end products
Modern production facilities are needed to ensure the quality of advanced functional materials, which low-income nations still cannot afford. Additionally, due to their high cost, the import of such materials for use in other industries is restricted, which raises the final product's price. It is anticipated that the increase will be hampered by the relatively high cost of finished goods that contain cutting-edge functional materials.
COVID-19 Impact:
Due to the COVID-19 outbreak, manufacturing facilities have been shut down across the majority of the country. As a result, demand for advanced functional materials has drastically declined, especially conductive polymers and nanomaterials, which has restricted the global market's growth. Additionally, the electric and electronics industries as well as the automobile industries make extensive use of complex functional materials. Production of smartphones and other electronic devices dropped significantly.
The nanomaterials segment is expected to be the largest during the forecast period:
The nanomaterials segment is estimated to have a lucrative growth. Due to their thermal conductivity, electrical conductivity, durability, high strength and elasticity, high aspect ratio, field emissions, and high absorbent qualities, nanoparticles, particularly carbon nanomaterials, are widely used in the automotive and aviation industries. Additionally, the market is likely to rise faster due to the expanding use of nanomaterials in the field of nanomedicine in the healthcare sector.
The electronics & electrical segment is expected to have the highest CAGR during the forecast period:
The electronics & electrical segment is anticipated to witness the fastest CAGR growth during the forecast period. Nanomaterials, conductive polymers, and sophisticated functional ceramics all make major contributions to this sector. Additionally, it is anticipated that R&D investments in the production of specialised products employing cutting-edge dimensional composites for aerospace and vehicles would open up a new doorway. Expanding the use of novel functional composites made by combining two or more materials preserves the unique qualities that industry players are developing.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to high demand for these materials in the electronics and automobile sector. The presence of manufacturing-based economies in the area has led to a significant increase in demand for novel functional materials of all kinds. Demand growth is being attributed to by the expansion of end-user industries like aerospace, paints & chemicals, infrastructure, and automotive.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to rapid growth in the healthcare and manufacturing sector in the developed nations. Due to the expanding demand for automotive products and the presence of several manufacturers of consumer electronics products, it is anticipated that the market for advanced functional materials would expand throughout the forecasted period. Due to rising investments in the aerospace and defence industries, there is a greater need for innovative functional materials in the region.
Key players in the market
Some of the key players profiled in the Advanced Functional Materials Market include Covestro AG, BASF SE, Arkema Group, Applied Nanotech Holdings, Inc, Evonik Industries AG, Bayer AG, Samsung Electro-Mechanics Co.,Ltd., 3M, CNANO Technologies Ltd., Kyocera Corporation, Momentive Performance minerals, DuPont, CeramTec, Hexcel Corporation, Sumitomo Chemical Co. Ltd., Morgan Advanced Materials and Kuraray Co. Ltd.
Key Developments:
In May 2023, Samsung launches the "Blue Elephant (PUCO) Nonviolence Campaign" for a world without youth cyberbullying, the event consisted of various programs, including a signing ceremony for a six-party business agreement, cyberbullying experience booths, an award ceremony for the prevention idea contest, and an exhibition of works.
In November 2022, Covestro Ag has developed a functional material solution for automotive applications. This innovative material can be used in car interiors in order to meet the changing automotive industry demand in the future.
Types Covered:
- Composites
- Energy Materials
- Nanomaterials
- Ceramics
- Conductive Polymers
- Other Types
End Users Covered:
- Energy and Power
- Healthcare
- Electrical & Electronics
- Automotive
- Aerospace & Defense
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 End User Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Advanced Functional Materials Market, By Type
- 5.1 Introduction
- 5.2 Composites
- 5.3 Energy Materials
- 5.4 Nanomaterials
- 5.5 Ceramics
- 5.6 Conductive Polymers
- 5.7 Other Types
6 Global Advanced Functional Materials Market, By End User
- 6.1 Introduction
- 6.2 Energy and Power
- 6.3 Healthcare
- 6.4 Electrical & Electronics
- 6.5 Automotive
- 6.6 Aerospace & Defense
- 6.7 Other End Users
7 Global Advanced Functional Materials Market, By Geography
- 7.1 Introduction
- 7.2 North America
- 7.2.1 US
- 7.2.2 Canada
- 7.2.3 Mexico
- 7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 Italy
- 7.3.4 France
- 7.3.5 Spain
- 7.3.6 Rest of Europe
- 7.4 Asia Pacific
- 7.4.1 Japan
- 7.4.2 China
- 7.4.3 India
- 7.4.4 Australia
- 7.4.5 New Zealand
- 7.4.6 South Korea
- 7.4.7 Rest of Asia Pacific
- 7.5 South America
- 7.5.1 Argentina
- 7.5.2 Brazil
- 7.5.3 Chile
- 7.5.4 Rest of South America
- 7.6 Middle East & Africa
- 7.6.1 Saudi Arabia
- 7.6.2 UAE
- 7.6.3 Qatar
- 7.6.4 South Africa
- 7.6.5 Rest of Middle East & Africa
8 Key Developments
- 8.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 8.2 Acquisitions & Mergers
- 8.3 New Product Launch
- 8.4 Expansions
- 8.5 Other Key Strategies
9 Company Profiling
- 9.1 Covestro AG
- 9.2 BASF SE
- 9.3 Arkema Group
- 9.4 Applied Nanotech Holdings, Inc
- 9.5 Evonik Industries AG
- 9.6 Bayer AG
- 9.7 Samsung Electro-Mechanics Co.,Ltd.
- 9.8 3M
- 9.9 CNANO Technologies Ltd.
- 9.10 Kyocera Corporation
- 9.11 Momentive Performance minerals
- 9.12 DuPont
- 9.13 CeramTec
- 9.14 Hexcel Corporation
- 9.15 Sumitomo Chemical Co. Ltd.
- 9.16 Morgan Advanced Materials
- 9.17 Kuraray Co. Ltd
List of Tables
- Table 1 Global Advanced Functional Materials Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
- Table 4 Global Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
- Table 5 Global Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
- Table 6 Global Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
- Table 7 Global Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
- Table 8 Global Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
- Table 9 Global Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
- Table 10 Global Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
- Table 11 Global Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 12 Global Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
- Table 13 Global Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
- Table 14 Global Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
- Table 15 Global Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 16 North America Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
- Table 17 North America Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
- Table 18 North America Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
- Table 19 North America Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
- Table 20 North America Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
- Table 21 North America Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
- Table 22 North America Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
- Table 23 North America Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
- Table 24 North America Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
- Table 25 North America Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
- Table 26 North America Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 27 North America Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
- Table 28 North America Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
- Table 29 North America Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
- Table 30 North America Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 31 Europe Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
- Table 32 Europe Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
- Table 33 Europe Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
- Table 34 Europe Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
- Table 35 Europe Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
- Table 36 Europe Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
- Table 37 Europe Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
- Table 38 Europe Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
- Table 39 Europe Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
- Table 40 Europe Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
- Table 41 Europe Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 42 Europe Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
- Table 43 Europe Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
- Table 44 Europe Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
- Table 45 Europe Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 46 Asia Pacific Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
- Table 47 Asia Pacific Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
- Table 48 Asia Pacific Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
- Table 49 Asia Pacific Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
- Table 50 Asia Pacific Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
- Table 51 Asia Pacific Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
- Table 52 Asia Pacific Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
- Table 53 Asia Pacific Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
- Table 54 Asia Pacific Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
- Table 55 Asia Pacific Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
- Table 56 Asia Pacific Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 57 Asia Pacific Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
- Table 58 Asia Pacific Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
- Table 59 Asia Pacific Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
- Table 60 Asia Pacific Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 61 South America Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
- Table 62 South America Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
- Table 63 South America Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
- Table 64 South America Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
- Table 65 South America Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
- Table 66 South America Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
- Table 67 South America Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
- Table 68 South America Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
- Table 69 South America Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
- Table 70 South America Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
- Table 71 South America Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 72 South America Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
- Table 73 South America Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
- Table 74 South America Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
- Table 75 South America Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 76 Middle East & Africa Advanced Functional Materials Market Outlook, By Country (2021-2030) ($MN)
- Table 77 Middle East & Africa Advanced Functional Materials Market Outlook, By Type (2021-2030) ($MN)
- Table 78 Middle East & Africa Advanced Functional Materials Market Outlook, By Composites (2021-2030) ($MN)
- Table 79 Middle East & Africa Advanced Functional Materials Market Outlook, By Energy Materials (2021-2030) ($MN)
- Table 80 Middle East & Africa Advanced Functional Materials Market Outlook, By Nanomaterials (2021-2030) ($MN)
- Table 81 Middle East & Africa Advanced Functional Materials Market Outlook, By Ceramics (2021-2030) ($MN)
- Table 82 Middle East & Africa Advanced Functional Materials Market Outlook, By Conductive Polymers (2021-2030) ($MN)
- Table 83 Middle East & Africa Advanced Functional Materials Market Outlook, By Other Types (2021-2030) ($MN)
- Table 84 Middle East & Africa Advanced Functional Materials Market Outlook, By End User (2021-2030) ($MN)
- Table 85 Middle East & Africa Advanced Functional Materials Market Outlook, By Energy and Power (2021-2030) ($MN)
- Table 86 Middle East & Africa Advanced Functional Materials Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 87 Middle East & Africa Advanced Functional Materials Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
- Table 88 Middle East & Africa Advanced Functional Materials Market Outlook, By Automotive (2021-2030) ($MN)
- Table 89 Middle East & Africa Advanced Functional Materials Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
- Table 90 Middle East & Africa Advanced Functional Materials Market Outlook, By Other End Users (2021-2030) ($MN)
