Advanced Materials Market-An Overview

The use of advanced materials is an emerging trend which is helping transform the manufacturing industry around the world and has particularly been useful in the replacement of plastic and metal components with ceramic and composite products in high-octane applications. The advantage of using ceramics and composites is that they are lightweight, possess great strength and can resist abrasion very well.

Ceramics demand has also seen an upward curve because of its usage in medical devices production. Ceramics uptake will continue to stay high as the healthcare industry grows further and the need for medical attention also rises during the forecast period. Technologies that are on the rise and innovations in product development and manufacturing are estimated to help maintain the high demand for advanced materials during the forecast period. Increasing expenditure on research and development activities is also anticipated to have a substantial impact on the global advanced materials market. Some of the industries where advanced materials could be used in and as a result, lead to large profits include the aerospace industry, automotive industry etc.

Europe and North America are the important regions for the advanced materials market worldwide. Both regions combined constitute more than 50% of the total advanced materials market. The reason for both regions' stronghold on the advanced materials market is due to the availability of large production capacity and a greater sophistication due to the presence of advanced technologies. North America will continue to stay on top, as far as the growth rate is concerned.

The advanced materials market, however, has its own challenges as well. One of them is the pricing of the advanced materials, which is very high when compared with conventional materials. The large energy costs that go into the manufacturing of advanced ceramics could prove to be a bottleneck in future. Advanced ceramics production is a time-consuming process and occurs at high temperatures in a controlled environment. As a result, owing to the large manufacturing costs, the price of advanced ceramics is also on the higher side.

Advanced Materials Market: Overview

  • Advanced Materials is a promising technology transforming the global manufacturing industry, especially in its replacement of plastics and metals with ceramics and composites in high-performance applications.
  • High-performance structural materials include a broad range of metals, polymers, ceramics, and composites which improve the strength and engineering performance of various applications. For instance, advancements in high-strength, lightweight materials for automotive applications such as magnesium alloys, aluminum alloys, high-strength steels, and polymer matrix composites can lead to energy conservation.
  • The research report states that the global advanced materials market is expected to be around 28 Kilo Tons by 2027 as against 13 Kilo Tons in 2018. Between the years of 2019 and 2027, the global market is expected to surge at a CAGR of 8.1%.
global fa advanced materials market

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What are Key Growth Drivers of Global Advanced Materials Market?

  • Analysts anticipate that the demand for advanced materials will continue to be on the rise as it is expected to transform the overall manufacturing industry in the coming years. Over the years, these materials are expected to replace plastics and metals with improved ceramics and composites that are light in weight, higher strength, and excellent resistance to abrasion.
  • Emerging technologies and advancements in product development and manufacturing are expected to keep the demand for advanced materials at an all-time high during the forecast period. The growing expenditure on research and development of these materials is also projected to make a significant impact on the growing demand in the global market.
  • The demand for ceramics has been on the rise due to their application in the production of medical devices. As uptake of ceramics will continue to remain high as the healthcare industry grows and the need for medical attention surges during the forecast period.

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What are Key Challenges for Global Advanced Materials Market

  • Prices of advanced materials are very high compared to their traditional counterparts. For instance, carbon fiber reinforced polymers are widely used in a diverse range of aerospace, sports, and wind energy applications, owing to their outstanding mechanical and thermal properties at high temperatures. However, the current prices for the production of carbon fiber’s traditional counterparts (e.g. aluminium) are five to seven times cheaper in comparison. This hampers the usage of carbon fiber, thereby acting as a major restraint for the carbon fiber reinforced polymers market.
  • High energy costs involved in the production of advanced ceramics may prove to be a roadblock in the long run. Production of advanced ceramics is carried out in a controlled environment at a high temperature. The entire process to get the final produce is time consuming and energy intensive. Hence, prices of advanced ceramics are higher due to the high manufacturing cost. Thus, it becomes difficult to achieve competitive pricing in the market.

Lucrative Opportunities for Players in Global Advanced Materials Market

  • The aerospace industry is constantly evolving due to the increasing requirement and subsequent introduction of new materials to replace the existing ones. Composite parts of aircrafts are defined by their material, processing, manufacturing specifications, and material allowed by engineering. The amount of carbon fiber reinforced polymer (CFRP) used in their structure is only slightly less than the number of metals. Along with these, other reinforced matrices are also employed.
  • The automotive industry is currently tackling increasing demands for improvements in fuel economy and emission control. Therefore, there is a great deal of interest in the usage of advanced materials such as advanced high-strength steels, non-ferrous alloys (aluminum and titanium), and a variety of composites (carbon fiber and metal matrix) to produce lightweight vehicles.
  • E&E, especially consumer goods, is a rapidly growing industry due to constant developments in mobile phones and laptops. These changes are primarily focused on miniaturization of electrical circuits. Smart cars, with top-model features, are quickly becoming the new rage among auto manufacturers, where electronics are expected to constitute 40% of car component costs.

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North America to Dominate Global Advanced Materials Market

  • North America and Europe are major regions for the global advanced materials market. This is due to large production capacity available and sophistication with the advancement of technologies in these regions. Together, they constitute to over half of the advanced materials market.
  • Global demand for advanced materials has been growing based on the maturity levels of the markets. Different regions are expected to continue performing unevenly, with North America exhibiting the leading growth rate. The market in a region is dependent on its industrial developments.

Leading Players in Global Advanced Materials Market

  • Limited number of players operate in the advanced materials market. Their share of R&D expenditure is expected to reflect on the overall investment in R&D for advanced materials.
  • Major players in the Advanced Materials market include
    • 3M Advanced Materials
    • Morgan Advanced Materials plc
    • Huntsman Corporation
    • Hexcel Corporation
    • Hanwa Group,
    • Materion Corporation.

Global Advanced Materials Market – Segmentation

TMR’s research study segments the global advanced materials market in terms of product, application, and region. This report presents extensive market dynamics and growth trends associated with different segments and explains how they are influencing the growth of the global advanced materials market.

Type

Ceramics

Glasses

Polymers

Composites

Metals & Alloys

Ceramics

Application

Medical devices

Automotive

Aerospace

Electricals & Electronics

Industrial

Power

Others

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

1. Preface

    1.1. Report Scope and Market Segmentation 

    1.2. Research Highlights

2. Assumptions and Research Methodology

    2.1. Assumptions and Acronyms Used

    2.2. Research Methodology  

3. Executive Summary

    3.1. Market Snapshot, Indicative (US$ Bn)

    3.2. Top Trends

4. Market Overview

    4.1. Product Overview

    4.2. Market Indicators

5. Market Dynamics

    5.1. Drivers and Restraints Snapshot Analysis

        5.1.1. Drivers

        5.1.2. Restraints

        5.1.3. Opportunities

    5.2. Global Advanced Materials Market Analysis and Forecast

    5.3. Global R&D Expenditure on Advanced Materials

    5.4. Use of Simulation and Big Data in Advanced Materials

    5.5. Porter’s Analysis

        5.5.1. Threat of Substitutes

        5.5.2. Bargaining Power of Buyers

        5.5.3. Bargaining Power of Suppliers

        5.5.4. Threat of New Entrants

        5.5.5. Degree of Competition

    5.6. Value Chain Analysis

    5.7. Advanced Materials Market Outlook

6. Advanced Materials Market Analysis, by Product

    6.1. Key Findings

    6.2. Introduction

    6.3. Product Comparison Matrix

    6.4. Global Advanced Materials Market Value Share Analysis, by Product

    6.5. Global Advanced Materials Market Forecast, By Product

        6.5.1. Ceramics

        6.5.2. Glasses

        6.5.3. Polymers

        6.5.4. Composites

        6.5.5. Metal & Alloys

    6.6. Global Advanced Materials Market Analysis, by Product

    6.7. Global Advanced Materials Market Attractiveness Analysis, by Product

7. Advanced Materials Market Analysis, by Application

    7.1. Key Findings

    7.2. Introduction

    7.3. Application Comparison Matrix

    7.4. Global Advanced Materials Market Value Share Analysis, by Application

    7.5. Global Advanced Materials Market Forecast, by Application

        7.5.1. Medical devices

        7.5.2. Automotive

        7.5.3. Aerospace

        7.5.4. Electricals & Electronics

        7.5.5. Industrial

        7.5.6. Power

        7.5.7. Others

    7.6. Global Advanced Materials Market Analysis, by Application

    7.7. Global Advanced Materials Market Attractiveness Analysis, by Application

8. Global Advanced Materials Market Analysis by Region

    8.1. Global Market Size Growth Scenario, by Region, 2018

    8.2. Global Advanced Materials Market Value Share Analysis, by Region

    8.3. Global Advanced Materials Market Forecast, by Region

        8.3.1. North America

        8.3.2. Latin America

        8.3.3. Europe

        8.3.4. Asia Pacific

        8.3.5. Middle East and Africa

    8.4. Global Advanced Materials Market Attractiveness Analysis, by Region

9. North America Advanced Materials Market Analysis

    9.1. Key Findings

    9.2. North America Advanced Materials Market Overview

        9.2.1. North America Advanced Materials Market Value Share Analysis, by Product

        9.2.2. North America Advanced Materials Market Forecast, by Product

        9.2.3. North America Advanced Materials Market Value Share Analysis, by Application

        9.2.4. North America Advanced Materials Market Forecast, by Application

        9.2.5. North America Advanced Materials Market Value Share Analysis, by Country

        9.2.6. North America Advanced Materials Market Forecast, by Country

            9.2.6.1. U.S.

            9.2.6.2. Canada

    9.3. North America Advanced Materials Market Attractiveness Analysis

    9.4. North America Advanced Materials Market Trends 

10. Latin America Advanced Materials Market Analysis

    10.1. Key Findings

    10.2. Latin America Advanced Materials Market Overview

        10.2.1. Latin America Advanced Materials Market Value Share Analysis, by Product

        10.2.2. Latin America Advanced Materials Market Forecast, by Product

        10.2.3. Latin America Advanced Materials Market Value Share Analysis, by Application

        10.2.4. Latin America Advanced Materials Market Forecast, by Application

        10.2.5. Latin America Advanced Materials Market Value Share Analysis, by Country

        10.2.6. Latin America Advanced Materials Market Forecast, by Country

            10.2.6.1. Brazil

            10.2.6.2. Mexico

            10.2.6.3. Rest of Latin America

    10.3. Latin America Advanced Materials Market Attractiveness Analysis

    10.4. Latin America Advanced Materials Market Trends 

11. Europe Advanced Materials Market Analysis

    11.1. Key Findings

    11.2. Europe Advanced Materials Market Overview

        11.2.1. Europe Advanced Materials Market Value Share Analysis, by Product

        11.2.2. Europe Advanced Materials Market Forecast, by Product

        11.2.3. Europe Advanced Materials Market Value Share Analysis, by Application

        11.2.4. Europe Advanced Materials Market Forecast, by Application

        11.2.5. Europe Advanced Materials Market Value Share Analysis, by Country

        11.2.6. Europe Advanced Materials Market Forecast, by Country

            11.2.6.1. Germany

            11.2.6.2. France

            11.2.6.3. U.K.

            11.2.6.4. Spain

            11.2.6.5. Italy

            11.2.6.6. Rest of Europe

    11.3. Europe Advanced Materials Market Attractiveness Analysis

    11.4. Europe Advanced Materials Market Trends 

12. Asia Pacific Advanced Materials Market Analysis

    12.1. Key Findings

    12.2. Asia Pacific Advanced Materials Market Overview

        12.2.1. Asia Pacific Advanced Materials Market Value Share Analysis, by Product

        12.2.2. Asia Pacific Advanced Materials Market Forecast, by Product

        12.2.3. Asia Pacific Advanced Materials Market Value Share Analysis, by Application

        12.2.4. Asia Pacific Advanced Materials Market Forecast, by Application

        12.2.5. Asia Pacific Advanced Materials Market Value Share Analysis, by Country

        12.2.6. Asia Pacific Advanced Materials Market Forecast, by Country

            12.2.6.1. China

            12.2.6.2. Japan

            12.2.6.3. India

            12.2.6.4. ASEAN

            12.2.6.5. Rest of Asia Pacific

    12.3. Asia Pacific Advanced Materials Market Attractiveness Analysis

    12.4. Asia Pacific Advanced Materials Market Trends 

13. Middle East and Africa Advanced Materials Market Analysis

    13.1. Key Findings

    13.2. Middle East and Africa Advanced Materials Market Overview

        13.2.1. Middle East and Africa Advanced Materials Market Value Share Analysis, by Product

        13.2.2. Middle East and Africa Advanced Materials Market Forecast, by Product

        13.2.3. Middle East and Africa Advanced Materials Market Value Share Analysis, by Application

        13.2.4. Middle East and Africa Advanced Materials Market Forecast, by Application

        13.2.5. Middle East and Africa Advanced Materials Market Value Share Analysis, by Country

        13.2.6. Middle East and Africa Advanced Materials Market Forecast, by Country

            13.2.6.1. GCC

            13.2.6.2. South Africa

            13.2.6.3. Rest of Middle East and Africa

    13.3. Middle East and Africa Advanced Materials Market Attractiveness Analysis

    13.4. Middle East and Africa Advanced Materials Market Trends 

14. Competition Landscape

    14.1. Advanced Materials Market Share Analysis by Company (2018)

    14.2. Company Competition Matrix

    14.3. Company Profiles

        14.3.1.  3M Advanced Materials

            14.3.1.1. Company Description

            14.3.1.2. Business Overview

            14.3.1.3. SWOT Analysis

            14.3.1.4. Strategic Overview

        14.3.2.  Cerion LLC

            14.3.2.1. Company Description

            14.3.2.2. Business Overview

        14.3.3.  Morgan Advanced Materials plc

            14.3.3.1. Company Description

            14.3.3.2. Business Overview

            14.3.3.3. SWOT Analysis

            14.3.3.4. Strategic Overview

        14.3.4.  Materion Corporation

            14.3.4.1. Company Description

            14.3.4.2. Business Overview

            14.3.4.3. SWOT Analysis

            14.3.4.4. Strategic Overview

        14.3.5.  TATA Advanced Materials Limited

            14.3.5.1. Company Description

            14.3.5.2. Business Overview

            14.3.5.3. SWOT Analysis

            14.3.5.4. Strategic Overview

        14.3.6.  Hanwha Group

            14.3.6.1. Company Description

            14.3.6.2. Business Overview

            14.3.6.3. SWOT Analysis

            14.3.6.4. Strategic Overview

        14.3.7.  Huntsman International LLC

            14.3.7.1. Company Description

            14.3.7.2. Business Overview

            14.3.7.3. SWOT Analysis

            14.3.7.4. Strategic Overview

        14.3.8.  Hexcel Corporation

            14.3.8.1. Company Description

            14.3.8.2. Business Overview

            14.3.8.3. SWOT Analysis

            14.3.8.4. Strategic Overview

        14.3.9.  Thomas Swan & Co. Ltd.

            14.3.9.1. Company Description

            14.3.9.2. Business Overview

            14.3.9.3. Recent Developments

            14.3.9.4. Strategic Overview

        14.3.10.  GR Advanced Materials Ltd (Rioch)

            14.3.10.1. Company Description

            14.3.10.2. Business Overview

        14.3.11.  Park Electrochemical Corp.

            14.3.11.1. Company Description

            14.3.11.2. Business Overview

            14.3.11.3. SWOT Analysis

            14.3.11.4. Strategic Overview

        14.3.12.  The Lubrizol Corporation

            14.3.12.1. Company Description

            14.3.12.2. Business Overview

        14.3.13.  Advanced Materials and Manufacturing Technologies, LLC

            14.3.13.1. Company Description

            14.3.13.2. Business Overview

15. Key Takeaways

List of Figures

Figure 01: Global Advanced Materials (Million Tons) and Market Size (US$ Bn) Forecast, 2018–2027

Figure 02(a): Global Advanced Materials Average Price (US$/Kg) 2018–2027

Figure 02(b): Global Advanced Materials Average Price (US$/Kg) 2018–2027

Figure 03: Global Advanced Materials Market Value Share Analysis, by Product, 2019 and 2027

Figure 04: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Ceramics, 2018–2027

Figure 05: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Glasses, 2018–2027

Figure 06: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Polymers, 2018–2027

Figure 07: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Composites, 2018–2027

Figure 08: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by M&A, 2018–2027

Figure 09: Advanced Materials Market Attractiveness Analysis, by Product

Figure 10: Global Advanced Materials Market Value Share Analysis, by Application, 2019 and 2027

Figure 11: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Medical devices, 2018–2027

Figure 12: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Automotive, 2018–2027

Figure 13: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Aerospace, 2018–2027

Figure 14: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by E&E, 2018–2027

Figure 15: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Industrial, 2018–2027

Figure 16: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Power, 2018–2027

Figure 17: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons), by Others, 2018–2027

Figure 18: Advanced Materials Market Attractiveness Analysis, by Application

Figure 19: Global Advanced Materials Market Value Share Analysis, by Region, 2019 and 2027

Figure 20: Global Advanced Materials Market Attractiveness Analysis, by Region 

Figure 21: North America Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons) Forecast, 2018–2027

Figure 22: North America Advanced Materials Market Revenue and Volume, Y-o-Y Growth Projections, 2018–2027

Figure 23: North America Advanced Materials Market Value Share Analysis, by Product, 2019 and 2027

Figure 24: North America Advanced Materials Market Value Share Analysis, by Application, 2019 and 2027

Figure 25: North America Advanced Materials Market Value Share Analysis, by Country, 2019 and 2027

Figure 26: Latin America Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons) Forecast, 2018–2027

Figure 27: Latin America Advanced Materials Market Revenue and Volume, Y-o-Y Growth Projections, 2018–2027

Figure 28: Latin America Advanced Materials Market Value Share Analysis, by Product, 2019 and 2027

Figure 29: Latin America Advanced Materials Market Value Share Analysis, by Application, 2019 and 2027

Figure 30: Latin America Advanced Materials Market Value Share Analysis, by Country, 2019 and 2027

Figure 31: Europe Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons) Forecast, 2018–2027

Figure 32: Europe Advanced Materials Market Revenue and Volume, Y-o-Y Growth Projections, 2018–2027

Figure 33: Europe Advanced Materials Market Value Share Analysis, by Product, 2019 and 2027

Figure 34: Europe Advanced Materials Market Value Share Analysis, by Application, 2019 and 2027

Figure 35: Europe Advanced Materials Market Value Share Analysis, by Country, 2019 and 2027

Figure 36: Asia Pacific Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, 2018–2027

Figure 37: Asia Pacific Advanced Materials Market Revenue and Volume, Y-o-Y Growth Projections, 2018–2027

Figure 38: Asia Pacific Advanced Materials Market Value Share Analysis, by Product, 2019 and 2027

Figure 39: Asia Pacific Advanced Materials Market Value Share Analysis, by Application, 2019 and 2027

Figure 40: Asia Pacific Advanced Materials Market Value Share Analysis, by Country, 2019 and 2027

Figure 41: Middle East & Africa Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, 2018–2027

Figure 42: Middle East & Africa Advanced Materials Market Revenue and Volume, Y-o-Y Growth Projections, 2018–2027

Figure 43: Middle East & Africa Advanced Materials Market Value Share Analysis, by Product, 2019 and 2027

Figure 44: Middle East & Africa Advanced Materials Market Value Share Analysis, by Application, 2019 and 2027

Figure 45: Latin America Advanced Materials Market Value Share Analysis, by Country, 2019 and 2027

Figure 46: Global Advanced Materials Market Share Analysis, by Company (2018)

List of Tables

Table 01: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons) Forecast, by Product, 2018–2027

Table 02: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (1/2)

Table 02: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (2/2)

Table 03: Global Advanced Materials Market Revenue (US$ Bn) and Volume (Kilo Tons) Forecast, by Region, 2018–2027

Table 04: North America Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2018–2027

Table 05: North America Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (1/2)

Table 05: North America Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (2/2)

Table 06: North America Market Size Forecast (Kilo Tons) (US$ Mn), by Country, 2018–2027

Table 07: Latin America Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2018–2027

Table 08: Latin America Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (1/2)

Table 08: Latin America Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (2/2)

Table 09: Latin America Market Size Forecast (Kilo Tons) (US$ Mn), by Country, 2018–2027

Table 10: Europe Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2018–2027

Table 11: Europe Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (1/2)

Table 11: Europe Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (2/2)

Table 12: Europe Market Size Forecast (Kilo Tons) (US$ Mn), by Country, 2018–2027 (1/2)

Table 12: Europe Market Size Forecast (Kilo Tons) (US$ Mn), by Country, 2018–2027 (2/2)

Table 13: Asia Pacific Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2018–2027

Table 14: Asia Pacific Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (1/2)

Table 14: Asia Pacific Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (1/2)

Table 15: Asia Pacific Market Size Forecast (Kilo Tons) (US$ Mn), by Country, 2018–2027

Table 16: Middle East & Africa Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Product, 2018–2027

Table 17: Middle East & Africa Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (1/2)

Table 17: Middle East & Africa Advanced Materials Market Revenue (US$ Mn) and Volume (Kilo Tons) Forecast, by Application, 2018–2027 (2/2)

Table 18: Middle East and Africa Market Size Forecast (Kilo Tons) (US$ Mn), by Country, 2018–2027

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Advanced Materials Market