Advanced Materials Market Market Growth Factors, Applications, Regional Analysis, Key Players and Forecasts by 2022 DowDuPont, Morgan Advanced Materials, Hanwha Group, PyroGenesis Canada Inc., Cytech Products, Inc.

Based on product, the advanced materials market is classified into lightweight materials, ceramics, glass, polymers, composites, metals and alloys, nanomaterials, and others. Of these, ceramics held a significant market share during the historical period. This can be attributed to the increased usage of electroceramics in the electronics industry in recent years. Moreover, the market for lightweight materials and nanomaterials is expected to witness considerable growth during forecast period, on account of the growing demand for lightweight two-wheelers and four-wheelers and the increasing usage of nanomaterials in the healthcare industry.

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Investments in research for the development of new advanced materials and for the improvement of existing products in terms of properties is the key trend witnessed in the global advanced materials market. The high quality of these materials encourages their usage in industries such as healthcare, aerospace, and automotive. Moreover, the growing application of advanced steel and aluminum alloys in various end-use industries is resulting in their increased demand around the world.

Geographically, the advanced materials market is categorized into North America, Europe, Latin America, Asia-Pacific (APAC), and the Middle East and Africa. During the forecast period, the market is expected to witness significant growth in the APAC region, owing to the increasing number of industries and rising manufacturing activities in the emerging countries of the region, such as China and India. Furthermore, the European advanced materials market is expected to witness increased consumption of advanced materials during the forecast period, owing to the availability of mineral resources, high adoption rate of advanced technologies, and increasing investments in the automotive and aerospace industries.

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The key factor restraining the growth of the advanced materials market is the complex process associated with the production of these materials. Besides, the production of these materials is capital-intensive, as it requires expensive machinery and technical proficiency of the involved manpower. These factors, thus, restrict the entry of new players in the market to some extent.

The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.

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