Press release
Advanced Materials Market Insights on Growing Applications by 2022
The global market for metamaterials applications should grow from $448 million in 2018 to $1.8 billion by 2023 and then to $5.9 billion in 2028 at a CAGR of 32.0% from 2018 to 2023 and 26.8% from 2023 to 2028.
The global. market for nanoengineered surfaces should grow from $402.9 million in 2017 to $1.7 billion by 2022 at a CAGR of 31.7% from 2017 to 2022.
Report Scope
The term "advanced materials" refers to all new materials or modified materials that demonstrate superior performance for a critical application under consideration. General materials with existing features are sometimes not suitable for certain critical applications, as a result manufacturer focus on research and development (R&D) to develop new and improved versions of the materials which are defined as advanced materials.
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Smart glass, coated flat glass, industrial ceramics, super strength fibers, metamaterials and biodegradable materials are some of the examples of advanced materials available in the market. Advanced materials are deeply integrated in and partially defined by the applications they serve. By necessity, their story changes over time and alongside their applications fluctuating fortunes. But trends and common threads do emerge and can be useful to understand.
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Innovative applications of advanced materials in various end-use industries are leading to rise in demand of these materials. For example if we consider coated flat glass, the product is used for applications in construction industry, automotive industry and solar glass industry. In construction industry coated flat glass is used for solar control efficiency and other applications, due to the excellent insulation properties of the product. Fire resistance, abrasion and impact-resistance, weather and natural disaster resistance and high-quality manufacturing will sustain the demand for flat glass in the architectural sector over the next five years. Another advanced material, metamaterials is used for
applications in automotive radar, airborne antennas, satellite antennas, wireless communications, medical imaging, etc. Metamaterials can manipulate electromagnetic radiation (e.g., light) in ways not readily observed in nature. In this research review, there are many other such advanced materials which are developed for specific applications and end-use industries are discussed.
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