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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Advanced Functional Materials Market Outlook
The global advanced functional materials market is expected to grow at a CAGR of about 6.5% in the forecast period of 2024-2032. The market is primarily being aided by the rising demand from the medical sector. The Asia Pacific is the leading region in the industry with the growing demand from developing nations like India and China.
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Market Segmentation
Advanced functional materials help to reduce the total electricity consumption through effective signal and power transmission to all connected components. The thin conductors or interconnects that are used in advanced functional material-based miniature electronics help overcome the signal propagation, and power loss issues of large PCBs, as well as thick, interconnects.
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Based on its types, the market can be divided into the following:
- Advanced Functional Ceramics
- Advanced Energy Materials
- Conductive Polymers
- Nanomaterials
- Advanced Functional Composites
- Others
The market can be broadly categorised based on its end-use segments into:
- Automotive
- Medical
- Industrial
- Aerospace and Defence
- Energy and Power (incl. Chemical Industry)
- Others
The EMR report looks into the regional advanced functional material markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
The production of lightweight, portable, and versatile substrate technological devices will fuel the demand for advanced functional materials in the coming years. The growing demand for miniaturisation and microelectronics has been identified as one of the critical market trends in the advanced functional materials industry that is expected to boost the industry growth. The highest demand for advanced functional materials are from the medical industry.
The nanomaterial is the dominating type of material in the industry. The use of nanomaterials is continually increasing in the nanomedicine sector of the healthcare industry. Nanomedicine is the application of nanotechnology for diagnosis, tracking, drug delivery, treatment, and control of the biological systems.
The lack of market expansion and technical innovation, however, are expected to impede the growth of the industry in the coming years.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global advanced functional materials market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Morgan Advanced Materials plc
- KYOCERA Corporation
- Hexcel Corporation
- Nanophase Technologies Corporation
- KURARAY CO., LTD
- Murata Manufacturing Co., Ltd.
- Henkel AG & Co. KGaA (OTCMKTS: HENKY)
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global advanced functional materials market is projected to grow at a CAGR of 6.5% between 2024 and 2032.
The major drivers of the industry, such as technological innovation, production of lightweight, portable and versatile substrate devices, and the growing product demand in the medical sector, are expected to aid the industry growth.
The key market trend guiding the growth of the market include the growing demand for miniaturisation and microelectronics.
The major regional markets are North America, Europe, the Asia Pacific, Latin America and the Middle East and Africa, with the Asia Pacific accounting for the largest market share.
Nanomaterials is the dominating type of advanced functional materials in the market.
The medical sector is the leading end use sector of the product in the market.
The major players in the industry are Morgan Advanced Materials plc, KYOCERA Corporation, Hexcel Corporation, Nanophase Technologies Corporation, Kurray Co. Ltd., Henkel AG & Co. KGaA, and Murata Manufacturing Co., Ltd, among others.
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