Advanced Functional Material Market

Global Advanced Functional Material Market Size, Trends & Analysis - Forecasts to 2027 By Type (Ceramics, Energy Materials, Conductive Polymers, Nanomaterials, Composites, and Others), End-user (Electrical and Electronics, Automotive, Healthcare, Aerospace and Defense, Energy and Power, and Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Company Market Share Analysis, and Competitor Analysis

Category Chemicals & Advanced Material
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This report was recently updated on November 22 2022 with the latest and most recent market numbers

Global Advanced Functional Material Market Size

The global advanced functional material market is projected to grow from USD 150.4 billion in 2022 to USD 206.8 billion by 2027 at a CAGR value of 6.6% from 2022 to 2027.

Novel functional substances, particularly ceramic, are used in a range of technological and electrical applications. Advanced functional materials are also widely used in the biomedical sector. In the joint replacement operation, polymeric composite materials are used as femoral heads and articular surface plates in the fabrication of medical equipment. The global increase in demand for minimal sustainable energy solutions from end-user applications in engineering and automobiles, combined with rigorous governmental environmental regulations, is anticipated to drive the advanced functional material market (AFM).

During the forecast period, the demand for innovative functional materials will be fuelled by the increasing manufacture of inexpensive, transportable, and adaptable substrate technological tools. One of the major market trends in the advanced functional materials market that is the huge demand for nanotechnology and microsystems. The healthcare business has the highest need for innovative functional materials further propelling market growth.

Advanced functional materials are extensively utilised in equipment to lower the power consumed of microelectronics; thus, the creation of convenient and transportable gadgets is gaining traction in the industry. In the fabrication of small electronic equipment, the elastic substratum substance is still being used. This element increases demand for new pragmatic products, and overall industry growth is expected to be positive.

Nevertheless, the COVID-19 pandemic, which resulted in the closure of manufacturing units and a reduction in productivity as a result of this, and also the market downturn in emerging regions, has slowed the growth of the electronics and automotive industry sectors, which appears to limit market growth.

With a focus on diagnostic testing, implantation and rejuvenation in pharmaceuticals, delivery of drugs device production, and biomedicine, the need for advanced functional materials is rapidly increasing, boosting market growth. Nevertheless, in the coming years, the industry's growth is expected to be inhibited by an inadequate market diversification and technology advancements.

global advanced functional material market

Global Advanced Functional Material Market: By Type

Based on the type, the market is segmented into ceramics, energy materials, conductive polymers, nanomaterials, composites, and others. The nanomaterials segment is expected to be the largest shareholder of the market from 2022 to 2027. This segment is being driven by attributes such as high tensile strength, durability, rigidity, saturation magnetization, corrosion and wear tolerance, resistance, improved molecular dynamic, and dependability. They are also deployed in several applications such as aircraft, electronics, and medicine because of their properties.

Growing environmental awareness has opened the way for many bio-nanomaterials, as well as new product introductions and extensive Research and development initiatives, which are all contributing to the market's expansion.

Global Advanced Functional Material Market: By End-User

Based on the end-user, the market is segmented into electrical and electronics, automotive, healthcare, aerospace and defense, energy and power, and others. The electrical and electronics segment is expected to be the largest shareholder of the market from 2022 to 2027. Advanced functional ceramics, superconductors, and nanomaterials are key contributors to the electronics and electrical industry, which is one of the top AFM users. Advanced functional ceramics utilised in the electrical & electronics industries have electromechanical, ferromagnetic, highly conductive, and conduction characteristics, allowing them to be employed in smart computers and phones. Suspension components, integrated circuits, separators, and sensors are all made from advanced functional ceramics.

asia pacific advanced functional material market

Global Advanced Functional Material Market: By Region

As per the geographical analysis, the market for advanced functional material can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central & South America (Brazil, Argentina, and Rest of Central and South America).

Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific) region will have a dominant share in the advanced functional material market from 2022 to 2027. As China is the world's leading producer of electronic goods, the region is also being driven by rising research and innovation, the existence of key players and venture capitalists, technologically advanced equipment's, new collaborations and ground-breaking product launch, increasing consumer demand in car manufacturing and electronic parts, booming industry infrastructural facilities, and urbanisation. The existence of manufacturing-based markets in the region has resulted in a high demand for innovative functional materials of various types.

China, Japan, India, and South Korea's aviation, automobile, and electronic and electrical industries are expected to generate the majority of demand in the Asia Pacific area.

Moreover, the Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), region is expected to be the fastest growing segment in the advanced functional material market during the forecast period, attributable to the expansion of the automobile industry. Automotive, electricity, paints & chemicals, transportation, and aviation are some of the end-user industries that are driving AFM demand in this region.

Global Advanced Functional Material Market Share and Competitor Analysis

Applied Nanotech Holdings, Inc., CNANO Technologies Ltd., 3M, Arkema Group., Evonik Industries AG., Covestro AG, BASF SE, Kyocera Corporation, Momentive Performance minerals, Bayer AG, DuPont, and Samsung Electro Mechanics Company, among others are the key players in the advanced functional material market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1   Methodology

1.1    Market Scope & Definitions

1.2    Estimates & Forecast Calculation

1.3    Historical Data Overview and Validation

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Report Outlook

2.1    Advanced Functional Materials Industry Overview, 2022-2027

2.1.1    Industry Overview

2.1.2    Type Overview

2.1.3    End-User Overview

2.1.4    Regional Overview

Chapter 3   Advanced Functional Materials Market Trends

3.1    Market Segmentation

3.2    Industry Background, 2022-2027

3.3    Market Key Trends

3.3.1    Positive Trends

3.3.1.1    Increased manufacture of inexpensive, transportable, and adaptable substrate technological tools.

3.3.2    Industry Challenges

3.3.2.1    High cost of R&D and need for skilled professionals

3.4    Prospective Growth Scenario

3.4.1    Type Growth Scenario

3.4.2    End-User Growth Scenario

3.5    COVID-19 Influence over Industry Growth

3.6    Porter’s Analysis

3.7    PESTEL Analysis

3.8    Value Chain & Supply Chain Analysis

3.9    Regulatory Framework

3.9.1    North America

3.9.2    Europe

3.9.3    APAC

3.9.4    LATAM

3.9.5    MEA

3.10    End-User Overview

3.11    Market Share Analysis, 2021

3.11.1    Company Positioning Overview, 2021

Chapter 4   Advanced Functional Materials Market, By Type

4.1    Type Outlook

4.2    Ceramics

4.2.1    Market Size, By Region, 2022-2027 (USD Billion)

4.3    Energy Materials

4.3.1    Market Size, By Region, 2022-2027 (USD Billion)

4.4    Conductive Polymers

4.4.1    Market Size, By Region, 2022-2027 (USD Billion)

4.5    Nanomaterials

4.5.1    Market Size, By Region, 2022-2027 (USD Billion)

4.6    Composites

4.6.1    Market Size, By Region, 2022-2027 (USD Billion)

4.7    Others

4.7.1    Market Size, By Region, 2022-2027 (USD Billion)

Chapter 5   Advanced Functional Materials Market, By End-User

5.1    End-User Outlook

5.2    Electrical and Electronics

5.2.1    Market Size, By Region, 2022-2027 (USD Billion)

5.3    Automotive

5.3.1    Market Size, By Region, 2022-2027 (USD Billion)

5.4    Healthcare

5.4.1    Market Size, By Region, 2022-2027 (USD Billion)

5.5    Aerospace and Defense

5.5.1    Market Size, By Region, 2022-2027 (USD Billion)

5.6    Energy and Power

5.6.1    Market Size, By Region, 2022-2027 (USD Billion)

5.7    Others

5.7.1    Market Size, By Region, 2022-2027 (USD Billion)

Chapter 6   Advanced Functional Materials Market, By Region

6.1    Regional outlook

6.2    North America

6.2.1    Market Size, By Country 2022-2027 (USD Billion)

6.2.2    Market Size, By Type, 2022-2027 (USD Billion)

6.2.3    Market Size, By End-User, 2022-2027 (USD Billion)

6.2.4    U.S.

6.2.4.1    Market Size, By Type, 2022-2027 (USD Billion)

6.2.4.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.2.5    Canada

6.2.5.1    Market Size, By Type, 2022-2027 (USD Billion)

6.2.5.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.3    Europe

6.3.1    Market Size, By Country 2022-2027 (USD Billion)

6.3.2    Market Size, By Type, 2022-2027 (USD Billion)

6.3.3    Market Size, By End-User, 2022-2027 (USD Billion)

6.3.4    Germany

6.3.4.1    Market Size, By Type, 2022-2027 (USD Billion)

6.3.4.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.3.5    UK

6.3.5.1    Market Size, By Type, 2022-2027 (USD Billion)

6.3.5.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.3.6    France

6.3.6.1    Market Size, By Type, 2022-2027 (USD Billion)

6.3.6.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.3.7    Italy

6.3.7.1    Market Size, By Type, 2022-2027 (USD Billion)

6.3.7.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.3.8    Spain

6.3.8.1    Market Size, By Type, 2022-2027 (USD Billion)

6.3.8.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.3.9    Russia

6.3.9.1    Market Size, By Type, 2022-2027 (USD Billion)

6.3.9.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.4    Asia Pacific

6.4.1    Market Size, By Country 2022-2027 (USD Billion)

6.4.2    Market Size, By Type, 2022-2027 (USD Billion)

6.4.3    Market Size, By End-User, 2022-2027 (USD Billion)

6.4.4    China

6.4.4.1    Market Size, By Type, 2022-2027 (USD Billion)

6.4.4.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.4.5    India

6.4.5.1    Market Size, By Type, 2022-2027 (USD Billion)

6.4.5.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.4.6    Japan

6.4.6.1    Market Size, By Type, 2022-2027 (USD Billion)

6.4.6.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.4.7    Australia

6.4.7.1    Market Size, By Type, 2022-2027 (USD Billion)

6.4.7.2    Market size, By End-User, 2022-2027 (USD Billion)

6.4.8    South Korea

6.4.8.1    Market Size, By Type, 2022-2027 (USD Billion)

6.4.8.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.5    Latin America

6.5.1    Market Size, By Country 2022-2027 (USD Billion)

6.5.2    Market Size, By Type, 2022-2027 (USD Billion)

6.5.3    Market Size, By End-User, 2022-2027 (USD Billion)

6.5.4    Brazil

6.5.4.1    Market Size, By Type, 2022-2027 (USD Billion)

6.5.4.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.5.5    Mexico

6.5.5.1    Market Size, By Type, 2022-2027 (USD Billion)

6.5.5.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.5.6    Argentina

6.5.6.1    Market Size, By Type, 2022-2027 (USD Billion)

6.5.6.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.6    MEA

6.6.1    Market Size, By Country 2022-2027 (USD Billion)

6.6.2    Market Size, By Type, 2022-2027 (USD Billion)

6.6.3    Market Size, By End-User, 2022-2027 (USD Billion)

6.6.4    Saudi Arabia

6.6.4.1    Market Size, By Type, 2022-2027 (USD Billion)

6.6.4.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.6.5    UAE

6.6.5.1    Market Size, By Type, 2022-2027 (USD Billion)

6.6.5.2    Market Size, By End-User, 2022-2027 (USD Billion)

6.6.6    South Africa

6.6.6.1    Market Size, By Type, 2022-2027 (USD Billion)

6.6.6.2    Market Size, By End-User, 2022-2027 (USD Billion)

Chapter 7   Company Landscape

7.1    Competitive Analysis, 2022

7.2    Applied Nanotech Holdings, Inc

7.2.1    Company Overview

7.2.2    Financial Analysis

7.2.3    Strategic Positioning

7.2.4    Info Graphic Analysis

7.3    CNANO Technologies Ltd

7.3.1    Company Overview

7.3.2    Financial Analysis

7.3.3    Strategic Positioning

7.3.4    Info Graphic Analysis

7.4    3M

7.4.1    Company Overview

7.4.2    Financial Analysis

7.4.3    Strategic Positioning

7.4.4    Info Graphic Analysis

7.5     Arkema Group

7.5.1    Company Overview

7.5.2    Financial Analysis

7.5.3    Strategic Positioning

7.5.4    Info Graphic Analysis

7.6    Evonik Industries AG

7.6.1    Company Overview

7.6.2    Financial Analysis

7.6.3    Strategic Positioning

7.6.4    Info Graphic Analysis

7.7    Covestro AG

7.7.1    Company Overview

7.7.2    Financial Analysis

7.7.3    Strategic Positioning

7.7.4    Info Graphic Analysis

7.8    BASF SE

7.8.1    Company Overview

7.8.2    Financial Analysis

7.8.3    Strategic Positioning

7.8.4    Info Graphic Analysis

7.9      Kyocera Corporation

7.9.1    Company Overview

7.9.2    Financial Analysis

7.9.3    Strategic Positioning

7.9.4    Info Graphic Analysis

7.10    Other Companies

7.10.1    Company Overview

7.10.2    Financial Analysis

7.10.3    Strategic Positioning

7.10.4    Info Graphic Analysis

The Global Advanced Functional Material Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Advanced Functional Material Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global advanced functional material market is projected to grow from USD 150.4 billion in 2022 to USD 206.8 billion by 2027 at a CAGR value of 6.6% from 2022 to 2027.
Applied Nanotech Holdings, Inc., CNANO Technologies Ltd., 3M, Arkema Group., Evonik Industries AG., Covestro AG, BASF SE, Kyocera Corporation, Momentive Performance minerals, Bayer AG, DuPont, and Samsung Electro Mechanics Company, among others are the key players in the advanced functional material market.
The North American region is estimated to hold the highest market share in the advanced functional material market.
The COVID-19 pandemic has caused the closure of manufacturing units and a reduction in productivity as a result of this, and also the market downturn in emerging regions, has slowed the growth of the electronics and automotive industry sectors, which appears to limit market growth.
During the forecast period, the demand for innovative functional materials will be fuelled by the increasing manufacture of inexpensive, transportable, and adaptable substrate technological tools. One of the major market trends in the advanced functional materials market is the huge demand for nanotechnology and microsystems. The healthcare business has the highest need for innovative functional materials further propelling market growth.

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