Ensuing: How Covid-19 impact on the Business and Advanced Materials Market

The global advanced materials industry is estimated to undergo substantial growth in the forthcoming years. The rising demand for advanced materials with the growing industrialization worldwide is boosting the market growth. The ceramics segment and automation segment are expected to seize a dominant share of the market in the forecast period. The Asia Pacific region is expected to cater lucrative investment opportunities in the projected period.

The global advanced materials market is predictable to garner $25,540 million by 2027 and grow with a CAGR of 5.90% from 2020 to 2027. As per the report, the Asia Pacific region is estimated to unlock several investment opportunities for the market, due to growing usage of advanced materials in the region.

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Key Segment Findings of the Market:

The market is segmented on the basis of product, industry, and region.

• Among product segment, the ceramics sub-segment is expected to hold a dominant share in the market during the forecast period; chiefly due to the widespread applications of electroceramics in the electronic sector.

• Among industry segment, the automation sub-segment is projected to grab a major market share during the forecast period. This is mainly owing to the growing usage of advanced materials in the automation sector.

• Based on region, the Asia Pacific region market is projected to offer lucrative opportunities in the course of the forecast period mainly because of the growing use and demand for advanced materials from the automation as well as healthcare sector in the region.

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Key Players of the Industry

The major players of the global advanced materials industry are Morgan Advanced Materials plc., 3M Advanced Materials, Hexcel Corporation, Huntsman Corporation, Hanwa Group, Materion Corporation, and others. Various business strategies such as innovative product inventions, R&D activities, acquisitions and mergers, etc. implemented by these players are helping them build a significant position in the global market.
In addition, the report provides newest developments, performance, financial position, and product range of these players along with Porter Five analysis and SWOT analysis.

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This release was published on openPR.