Research Nester released a report titled “Global Advanced Materials Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers a detailed overview of the global advanced materials market in terms of market segmentation by product, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.

Growth in Production and Sale of Automobiles across various regions of the world

The number of automobiles that are being produced and sold globally has increased over the last few years and is anticipated to drive the demand for advanced materials in many parts of the world. The production statistics released by OICA in the year 2017 had brought out an approximate figure of 97.3 million units being produced globally. This is predicted to raise the demand for advanced materials across several regions of the globe in the next few years.

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In addition to these factors, rising urbanization levels and rise in the incomes of the middle-class population who are in possession of disposable incomes are anticipated to raise the demand for vehicles, thereby leading to the growth of the automobile sector in various parts of the globe. Moreover, the growth of the automobile sector is anticipated to raise the requirements for advanced materials in several regions globally and is anticipated to boost the growth of the market over the forecast period.

The global advanced materials market is estimated to register a modest CAGR growth of 3.65% over the forecast period, i.e., 2018-2027. Some of the factors such as growth in the research and development activities related to Lithium-Ion batteries and their growing usage that has helped lower their costs has contributed to the growth of the market. Moreover, with high demand for Lithium-Ion batteries that has led to higher consumption as well as purchases taking place in large numbers globally has helped in lowering their costs over the last few years.

The global advanced materials market is segmented by product, end-user and by region. Based on product, the market is segmented into structural material, functional material and emerging material. Out of these, the structural material segment is anticipated to occupy the highest market share over the forecast period. In addition to that, the application of advanced materials has been increasing especially in buildings that are finding their uses primarily for construction-related activities. 

Based on region, the global advanced materials market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Europe is predicted to grow at the highest CAGR over the forecast period, mainly due to various factors such as the automobile and aerospace industry experiencing significant growth as well as an expansion over the past few years. On the other hand, the market in Asia Pacific that had witnessed the largest market share of 59.1% in the year 2017 and is anticipated to grow at a noteworthy rate over the forecast period. This is on account of growth in manufacturing activities taking place in the region, followed by rising number of industries being established across the region. Moreover, with the pace of industrialization increasing significantly in countries such as China and India, the market in Asia Pacific is projected to experience noticeable growth over the next few years.

However, some of the factors such as the advanced materials costs such as Nanomaterials and some others being expensive and the low prices of ferrochrome as well as lower capacity utilization ratio of steel is predicted to dampen the growth of the market in the next few years.

This report also provides the existing competitive scenario of some of the key players of the global advanced materials market which includes company profiling of Morgan Advanced Materials, Huntsman Corporation, Hexcel Corporation, Hanwha Advanced Materials, Perpetuus Advanced Materials, Thomas Swan & Co. Ltd., Tata Advanced Materials Ltd., 3M Company, Wolverine Advanced Materials and DowDuPont Inc.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global advanced materials market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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