Market Research Report
Functional Materials - Global Market Outlook (2017-2026)
|Functional Materials - Global Market Outlook (2017-2026)|
Published: July 1, 2018
Stratistics Market Research Consulting
Content info: 160 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Advanced Functional materials Market is expected to grow at a CAGR of 7.3% during the forecast period. Growing demand in healthcare applications, increased use as an alternative to metals and plastics, growing demand in healthcare applications and eco-buildings of the future using advanced functional material are some factors fueling the market growth. However, cost and raw material availability are restricting the market.
Advanced functional ceramics are used as components in electronic and electrical devices. Apart from its use in manufacturing of medical devices, it is also used as femoral heads and ace tabular cups in the hip replacement procedure. Functional ceramics also finds extensive bio-medical applications. Advanced ceramic materials play a key role in the development of many fields such as energy and environmental technology, transportation and production technology. Functional ceramic is also used for dental implants and as scaffolds and bone fillers for tissue engineering. A lot of research has been undertaken to explore other possible applications of nano materials, and the segment is assured of growth in the future.
Based on Type, the advanced functional composites segment is expected to have a steady growth during the forecast period. The advanced functional composites can be classified by strengthening mechanism into particle reinforced composite, fiber reinforced composite and dispersion strengthened. By geography, Asia Pacific is projected to account for the largest share in the global market. The demand for the different kinds of functional materials in this region is high due to the presence of manufacturing economies in this region. Automotive, aerospace, and electronics account for the bulk of the demand. China, India, Japan and South Korea are the main markets in this region.
Some of the key players in Advanced Functional materials Market are BASF SE, AMETEK Inc, Arkema Group, DowDuPont, Henkel AG & Co. KGaA, Sumitomo Corporation, SunEdison, Nanophase Technologies Corporation, Morgan Advanced Materials plc, Nanocyl SA, Renesola, Rauschert GmbH, Materion Corporation, Saint-Gobain and Hexcel Corporation.
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