Advanced Materials Market: growing production of the automobiles are the highest market drivers

Although advanced materials are everywhere, the term itself was coined relatively recently. Advanced materials are composed of those substances which are either newly discovered or already existing whose physical or chemical properties have been altered. Such modification allows superior performance, reliability and resilience to be squeezed out of them.
But the advanced materials market has mostly stayed beyond the imagination of the general public despite being put to everyday use. Whether it is the usage of advanced alloys in the manufacture of airplane engines or scratch resistant displays for modern smartphones, advanced materials market is ubiquitous.
The advanced materials market serves as a critical component for several industries. For example, the oil and gas industry a combination of advanced materials to manufacture measuring instruments with vastly superior density and strength. The aerospace and defense industry has numerous theories for putting these materials to various uses including space exploration, offensive and defensive weapons. Some other industries involved in the research and development of these materials are medical & healthcare, transportation and construction.
Due to climate change and greater strengthening of safety as well as environmental regulations, the growth of the advanced materials market has been high among developed nations. North America, Europe and Asia-Pacific dominate the market share for these materials. Decreasing the carbon footprint as well as not compromising on safety regulations has compelled the automotive and aerospace industries to shift to lighter, stronger and durable material. Hence, Asia-Pacific has shown the greatest growth for the advanced materials market in recent years.
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Advanced materials market does not consist of a single omnipresent material. It consists of various types like:
• Ceramic and glass – These brittle substances are modified to withstand high temperatures and stress which is achieved by altering their chemical bonds. Such reinforced ceramic and glass are being used for several everyday applications. This allows for the creation of ceramic art which may take the form of tiles, sculptures, etc. In fact, ceramic art has a long history with evidence of usage from over 2,000 years ago.
• Composite – Composite material is usually used for strengthening concrete through steel reinforcement and building tiles which stop space shuttles from burning up during re-entry into the earth’s atmosphere.
• Resin and Polymer – Resin is an extremely viscous substance which can be transformed into a polymer. On the other hand, a polymer consists of identical parts which bond together to form chains. Polymer serves as raw material during the manufacture of plastic and rubber. Carbon fiber polymers are also widely used in automobile chassis and building construction for being strong and light. Various forms of public transport are also using carbon fiber to decrease weight, and in turn costs.
• Nanomaterial – This consists of material whose size is very minute and can only be viewed through powerful microscopes. Physical properties take on unique properties at such small sizes. Nanoparticles allow the creation of smaller and lighter materials which come in useful for decreasing weight in critical fields like space exploration. Currently, nanoparticles are programmed to carry out a set of commands or functions. Such capabilities provide many opportunities.
Some of the key global players in the advanced materials market are as follows:
• Owens Corning
• E. I. Du Pont De Nemours and Company
• Teijin Limited
• Huntsman Corporation
• Toray Industries

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