openPR Logo
Press release

Advanced Materials Market Size Observe Significant Surge during 2024

01-10-2018 07:25 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Advanced Materials Market Size Observe Significant Surge

Transparency Market Research states that the degree of competition in the global advanced materials market is relatively insubstantial. However, the global market is on the cusp of a revolution as several players are making big investments in developing state-of-art advanced materials to suit the modern needs of industries across the globe. 3M Advanced Materials held a leading share in the global market in 2015 of about 70%. The company’s dominance was a result of its wide product offerings and proprietary technologies it has been using for product development.

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 Report Preview:
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.

Need for Improved Aerospace Components Shifts Preference toward Advanced Materials

The booming development of sectors such as electrical and electronics and aerospace have been the driving factors behind the growth of the global advanced materials market. These materials have been in a great demand in these segments as they deliver better performance, strength, and durability. Improvement in the development and design of these materials has also improved their uptake in the past few years. Over the years, the extensive and exhaustive research and development have rendered these materials with high endurance to handle the amount of fatigue, abrasion, and stiffness. For the same reasons, composite materials are being adopted in manufacturing aerospace structures.

The market is also expected to be driven by the growing demand for electrical and electronics, which is slated to be characterized by miniaturization in the coming years. The adoption of ceramics will be significantly high in this segment as well as in medical equipment manufacturing. The automobile industry is also expected to be another leading end user of advanced materials due to the benefits these materials offer in improving the performance of vehicles. The growing prices of fuel and the increasing demand for efficient vehicles are expected to drive manufacturers to make vehicles that will be lighter in weight.

Price Difference between Advanced and Conventional Materials to Hinder Market Growth

The massive price difference between conventional materials and advanced materials is one of the key restraints in the global advanced materials market. Currently, carbon fiber reinforced polymers are used in industries such as aerospace, wind energy, and sports due to their excellent mechanical and thermal properties at high temperatures.

Request to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=7307

Despite these advantages, the demand for carbon fiber is likely to suffer as its production is seven times more expensive than its conventional counterpart aluminum. The market could also be stifled by the high costs involved in manufacturing advanced ceramics, which demand controlled environment at a high temperature for achieving the desired result.

This review is based on Transparency Market Research’s report, titled “Advanced Materials Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact Us

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

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Advanced Materials Market Size Observe Significant Surge during 2024 here

News-ID: 892755 • Views:

More Releases from Transparency Market Research

Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights for the USD 15.9 Bn Market 2022-2031
Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights f …
The global handheld marijuana vaporizer market has witnessed remarkable growth in recent years, attributed to the increasing acceptance of medicinal marijuana and the demand for convenient and discreet consumption methods. Valued at US$ 5 billion in 2021, the market is projected to surge at a CAGR of 13.4% to reach US$ 15.9 billion by 2031. This article delves into the factors driving this growth, the evolving market landscape, and the
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And Competitors
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And …
The COVID-19 pandemic has precipitated a remarkable surge in the demand for disinfectant products, with a notable emphasis on disinfectant wipes as an essential tool in maintaining hygiene and preventing the spread of pathogens. This research report delves into the multifaceted landscape of the disinfectant wipes market, elucidating key trends, drivers, and innovations shaping the industry. 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=70359 Key Players and Market Developments Key players
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud …
The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period. Moreover, the market is expected
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global 𝐯𝐚𝐬𝐜𝐮𝐥𝐚𝐫 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market. Vascular closure devices is estimated to reach a value of ~US$ 1 Bn

All 5 Releases


More Releases for Advanced

Advanced Oxidation Technologies Market Size, Share 2021, Impressive Industry Gro …
The Advanced Oxidation Technologies Market is poised to take off in upcoming years hence showing a highly positive outlook through 2020-2028, according to a recently released report. Advanced Oxidation Technologies Market report covers industry chain analysis, latest market trends & dynamics along with cost profit analysis of major key players which focuses on expansion rate, prices, competition, size, prices, and value chain analysis of those leaders in the market. The
Medical Ceramics Market Analysis and Industry Forecast | Advanced Ceramics Resea …
Allied Market Research published a new report, titled, “Medical Ceramics Market by Type (Aluminum Oxide, Zirconia, and Carbon, Hydroxyapatite, Glass & Bioglass, Zirconia Alumina, Bioresorbable Ceramics, and Piezo Ceramics), by Application (Surgical Instruments, Diagnostic Equipment, Orthopedic Implants, Electronic Implants, Dental Implants, Disposables, and Packaging) – Global Opportunity Analysis and Industry Forecast, 2014 – 2022.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five
Skincell Advanced Reviews – Does Skincell Advanced Really Work?
People want clear, blemish-free skin! However, most people have skin tags, moles, and warts. Some causes are known, while some blemishes are caused without any reason at all. When a regular skincare regimen fails, people turn to costly surgeries and medications. Cleansing and moisturizing might not work well for all. All skin types are not the same, and toners and skincare creams seldom give long-lasting benefits. Get Skincell Advanced From Its
Global Advanced Oxidation Technologies Market 2019- 2025 || A-Zone Technologies, …
Synopsis of the Advanced Oxidation Technologies Market: Latest Report on Advanced Oxidation Technologies Market deliberates the effect of various Factors influencing the market growth and drivers. Its further sheds light on market overview, key manufacturers, strategic adopted by them, size, latest trends and types, revenue, gross margin with regional analysis and forecast to 2025. Overview of the Advanced Oxidation Technologies Market Report: Advanced Oxidation Technologies Market report includes knowledge about the market overview
Global Advanced Materials Market - 3M Company, DowDuPont Inc, Hexcel Corporation …
A New fresh research report presented by KD Market Insights provides a detailed analysis of “Advanced Materials Market - By Product type (Structural Material, Functional Material, Emerging Material) By End User (Building & Construction, Automotive, Aerospace, Defense, Marine, Electrical & Electronics, Healthcare, Oil & Gas and Energy, Others) & Global Region - Market Size, Trends, Share and Forecast 2018-2023” research report will include all the major trends and technologies that
Global Advanced Materials Market: 3M Company, DowDuPont Inc, Hexcel Corporation, …
A New fresh research report presented by KD Market Insights provides a detailed analysis of “Advanced Materials Market 2017: Market Size, Trends & Opportunity Outlook – Forecast to 2023” research report will include all the major trends and technologies that play an important role in market growth in the predicted span of 6 years. It also presents the overview of industry players, advantages, challenges the business is going through. The