Advanced Materials Global Industry Analysis and Future Growth Opportunities By 2024

According to the research report, the global advanced materials market is expected to be worth US$102.48 bn by 2024 as compared to US$42.76 bn in 2015. During the forecast years of 2016 and 2024, the global advanced materials market is expected to progress at a CAGR of 10.4%.

View Full Report: https://www.transparencymarketresearch.com/advanced-materials-market.html

North America Paces Ahead with CAGR of 9.1% during Forecast Period

Advanced materials are extensively being used in areas such as medical devices, automotive, electrical and electronics, power, and industrial amongst others. Out of these, the automotive segment is expected to dominate the global market in the coming years. This demand will be due to the increasing requirement for high-strength and lightweight components in the aerospace industry. The analysts state that the aerospace segment will surge at a CAGR of 10.8% during the forecast period in terms of revenue. Geographically, the market is segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. The report suggests that North America show a remarkable CAGR of 9.1% during the forecast period. However, this regional market is expected to mature in the coming years, giving emerging economies such as Asia Pacific and the Middle East and Africa a chance to flourish in the global market.

Geographically, the global advanced materials market is segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. Of these, North America and Europe were the dominant consumers of advanced materials in the global market. The growing consumption of advanced materials in these regions will be attributable to the mammoth production capacities and sophistication with the advancement of technologies. Asia Pacific is also expected to be an emerging region in the global market over the forecast period as manufacturing industries pick up pace in developing countries of India and China. The booming industrial development in this region is expected to make a significant contribution of the rising revenue of the Asia Pacific advanced materials market between 2016 and 2024.

Some of the key leading players operating in the global advanced materials market are 3M Advanced Materials, Morgan Advanced Materials plc, Huntsman Corporation, Hexcel Corporation, Hanwa Group, and Materion Corporation.

Report Overview, with TOC - https://www.transparencymarketresearch.com/report-toc/7307

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.