Advanced Materials Market Report 2024 (Global Edition)

Global Advanced Materials Market Report 2024 Market Size Split by Type (Composites, Ceramics, Polymers, Nanomaterials, Others), by Application (Healthcare, Automotive & Aerospace, Electrical & Electro...

Advanced Materials Market Report Description

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Competitive Landscape Of The Advanced Materials Market

The major players adopt new tactics quickly to gain a competitive advantage and take a substantial portion of the market. To serve a sizable customer base and obtain a competitive advantage, the key players in the Advanced Materials market place a strong emphasis on extending their creative offers.

Advanced Materials Industry News 

March 2020, A collaboration between Ube Industries and Mitsubishi Chemical Corporation has been revealed to create new lithium-ion battery electrolyte solutions with extended life cycles, increased safety, and increased efficiency.

(Source: cen.acs.org/materials/energy-storage/Mitsubishi-Ube-widen-electrolyte-ties/98/i13)

Top Companies Market Share in Advanced Materials Industry: (In no particular order of Rank)

• 3M Advanced Materials
• Morgan Advanced Materials plc
• Huntsman Corporation
• Hexcel Corporation
• Hanwa Group
• Materion Corporation
• Smartglass International Ltd
• Hitachi Chemical Co. Ltd.
• Altairnano Blue Spark Technologies
• TATA Advanced Materials
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Advanced Materials Market

Which Region Dominates The Advanced Materials Market in 2023?

According to Cognitive Market Research, North America led the market in 2023 and generated around 40% of worldwide revenue. The need for sophisticated materials in the electronics, automotive, and Aerospace sectors is fueled by the region's emphasis on sustainability and technical innovation. North America is a key region for driving the development of innovative materials because of its strong infrastructure, helpful government programs, and the increasing focus on environmentally friendly solutions.

Which Region is Expanding at the Fastest CAGR?

Europe is the fastest-growing category as Advanced materials are prioritized by the region's industries, such as Aerospace, automotive, and healthcare, for improved performance and environmental efficiency. Due to ongoing research projects and supportive regulations, Europe is positioned as a major actor in improving materials science and promoting technological advancements across varied sectors.

The current report Scope analyzes Advanced Materials Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Advanced Materials Market

According to Cognitive Market Research, the global Advanced Materials market size was estimated at USD 512548.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 205019.28 million in 2023 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2023 to 2030. North America, with its strong technological infrastructure and dedication to innovation, is a major player in the advanced materials market. The aircraft industry, in particular, has a strong need for advanced materials in the region since lightweight and high-strength materials are critical to improving performance and fuel efficiency. North America is at the forefront of cutting-edge materials science, helping to generate innovative solutions, with a strong focus on research and development. The desire for novel materials is further fueled by the established electronics and automotive sectors. All things considered, North America's dynamic market environment and emphasis on sustainable solutions place the continent in a unique position to influence the direction of advanced materials and the wide range of sectors that will use them.

• According to Cognitive Market Research, the US had a major share in the Advanced Materials market with a market size of USD 161760.21 million in 2023 and is projected to grow at a CAGR of 2.2% during the forecast period. This is majorly due to the country's strong emphasis on innovation and technology across all industries. 
• The Canada Advanced Materials market had a market share of USD 24602.31 million in 2023 and is projected to grow at a CAGR of 3.2% during the forecast period. This is due to the increased demand for aerospace. 
• The Mexico Advanced Materials market is projected to witness growth at a CAGR of 2.9% during the forecast period with a market size of USD 18656.75 million in 2023.

Europe Advanced Materials Market

According to Cognitive Market Research, with a market value of USD 512548.2 million in 2023 and projected to expand at a compound annual growth rate (CAGR) of 2.7% from 2023 to 2030, Europe accounted for a share of over 30% of the global market size of USD 153764.46 million. With a strong commitment to sustainability and technical innovation, Europe is a major player in the advanced materials market. Advanced materials are in high demand in the region right now, especially in the automobile industry, where strong, lightweight materials are essential to improving overall performance and energy efficiency. Europe is positioned as a leader in advancing advances in materials science due to its concentration on research and innovation as well as its supportive policies. Europe is a key player in determining the direction that the advanced materials market will take, thanks to its emphasis on environmentally friendly solutions and solid industrial foundation. The wide range of uses and rising investments in state-of-the-art technology highlight Europe's leadership in advancing innovations that meet changing industry demands and develop a more efficient and sustainable future.

• According to Cognitive Market Research, the Germany Advanced Materials market size was valued at USD 30445.36 million in 2023 and is projected to grow at a CAGR of 2.9% during the forecast period. This is majorly due to the growing demand for healthcare. 
• The United Kingdom Advanced Materials market had a market share of USD 25832.43 million in 2023 and is projected to grow at a CAGR of 3.5% during the forecast period. This is due to the increased demand for technology sectors. 
• The France Advanced Materials market is projected to witness growth at a CAGR of 1.9% during the forecast period with a market size of USD 14146.33 million in 2023.
• The Italy Advanced Materials market is projected to witness growth at a CAGR of 2.1% during the forecast period with a market size of USD 13223.74 million in 2023.
• The Russia Advanced Materials market is projected to witness growth at a CAGR of 1.7% during the forecast period with a market size of USD 23833.49 million in 2023.
• The Spain Advanced Materials market is projected to witness growth at a CAGR of 1.8% during the forecast period with a market size of USD 12608.69 million in 2023.
• The Portugal Advanced Materials market is projected to witness growth at a CAGR of 2.5% during the forecast period with a market size of USD 3229.05 million in 2023.
• The Luxembourg Advanced Materials market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 4766.70 million in 2023.
• The Greece Advanced Materials market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 1845.17 million in 2023.
• The Rest of Europe Advanced Materials market is projected to witness growth at a CAGR of 1.4% during the forecast period with a market size of USD 23833.49 million in 2023.

Asia Pacific Advanced Materials Market

According to Cognitive Market Research, the global Advanced Materials market size was estimated at USD 512548.2 Million out of which Asia Pacific held the market of more than 23% of the global revenue with a market size of USD 117886.09 million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. In the advanced materials industry, Asia Pacific stands out as a dynamic hub due to its quick industrialization, superior technological capabilities, and growing need for creative solutions. The usage of innovative materials is on the rise in the region, particularly in the electronics sector, where the production of next-generation products requires the use of lightweight, high-performance materials. Asia Pacific is positioned as a major participant in the global materials environment by its dedication to research and development and increased emphasis on sustainability. Asia Pacific is well-positioned to take the lead in influencing the direction of advanced materials, helping to create innovations that meet a range of industry demands and encourage environmentally friendly behaviors all throughout the area. This is due to the region's booming automobile industry and growing emphasis on infrastructure construction.

• According to Cognitive Market Research, the China Advanced Materials market size was valued at USD 53048.74 million in 2023 and is projected to grow at a CAGR of 5.7% during the forecast period. This is majorly due to the growing demand for need for innovative materials. 
• The India Advanced Materials market had a market share of USD 14146.33 million in 2023 and is projected to grow at a CAGR of 8.0% during the forecast period. This is due to the fast industrialization. 
• The Japan Advanced Materials market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 16268.28 million in 2023.
• The South Korea Advanced Materials market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 11788.61 million in 2023.
• The Australia Advanced Materials market is projected to witness growth at a CAGR of 5.9% during the forecast period with a market size of USD 6130.08million in 2023.
• The South East Asia Advanced Materials market is projected to witness growth at a CAGR of 7.2% during the forecast period with a market size of USD 8134.14 million in 2023.
• The Rest of Asia Pacific Advanced Materials market is projected to witness growth at a CAGR of 6.0% during the forecast period with a market size of USD 8369.91 million in 2023.

South America Advanced Materials Market

According to Cognitive Market Research, the global Advanced Materials market size was estimated at USD 512548.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 25647.21 million in 2023 and will grow at a compound annual growth rate (CAGR) of 3.6% from 2023 to 2030. Driven by a blend of industrial expansion and technical advancements, Latin America is becoming a significant player in the advanced materials industry. The construction industry, where cutting-edge materials improve infrastructure projects' sustainability and longevity, is one area where the region is seeing a rise in demand for advanced materials. Latin America holds a prominent role in the global materials scene due to its emphasis on promoting economic development and using contemporary technology. Despite the market's diversity, one significant sector pushing the use of innovative materials is the building sector. Latin America is well-positioned to handle regional concerns, promote technical innovation across many industries, and contribute to the evolution of sophisticated materials as long as it keeps investing in infrastructure and sustainable development.

• According to Cognitive Market Research, the Brazil Advanced Materials market size was valued at USD 10968.53 million in 2023 and is projected to grow at a CAGR of 4.2% during the forecast period. This is majorly due to the growing demand for construction. 
• The Argentina Advanced Materials market had a market share of USD 4305.40million in 2023 and is projected to grow at a CAGR of 4.5% during the forecast period. This is due to the increased demand for automotive. 
• The Colombia Advanced Materials market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 2280.84 million in 2023.
• The Peru Advanced Materials market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 2101.45 million in 2023.
• The Chile Advanced Materials market is projected to witness growth at a CAGR of 3.9% during the forecast period with a market size of USD 1845.17 million in 2023.
• The Rest of Latin America Advanced Materials market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD 4126.01 million in 2023.

Middle East and Africa Advanced Materials Market

According to Cognitive Market Research, the global Advanced Materials market size was estimated at USD 512548.2 Million out of which Middle East and Africa held the major market of more than 2% of the global revenue with a market size of USD 10250.96 million in 2023 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2023 to 2030. The Middle East and Africa (MEA) region is having a significant impact on the advanced materials market due to its emphasis on technical innovation and expanding industrial landscape. The demand for sophisticated materials is growing in the region, especially in the energy sector where materials with high durability and heat resistance are essential for infrastructure projects. MEA is positioned as a major player in the global materials market by virtue of its dedication to diversifying economies and implementing cutting-edge technology. The adoption of innovative materials is mostly being driven by the energy sector within the region. MEA is positioned to make a substantial contribution to the field of materials science, tackle local issues, and promote innovation in vital industries as long as it keeps funding infrastructure and sustainable development initiatives.

• According to Cognitive Market Research, the GCC Countries Advanced Materials market size was valued at USD 4387.41 million in 2023 and is projected to grow at a CAGR of 4.7% during the forecast period. This is majorly due to the growing demand for sustainability. 
• The South Africa Advanced Materials market had a market share of USD 1619.65 million in 2023 and is projected to grow at a CAGR of 4.9% during the forecast period. This is due to the technological innovation. 
• The Egypt Advanced Materials market is projected to witness growth at a CAGR of 4.2% during the forecast period with a market size of USD 1076.35 million in 2023.
• The Turkey Advanced Materials market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 881.58 million in 2023.
• The Nigeria Advanced Materials market is projected to witness growth at a CAGR of 3.0% during the forecast period with a market size of USD 1076.35 million in 2023.
• The Rest of MEA Advanced Materials market is projected to witness growth at a CAGR of 2.9% during the forecast period with a market size of USD 1209.61 million in 2023.

Advanced Materials Market Analysis

Advanced Materials Type Segment Analysis

According to Cognitive Market Research, Composites held the major market share over the forecast period. These materials are stronger, lighter, and more versatile than others because they comprise two or more components. The growth of the composites market is driven by rising demand in several industries, including Aerospace, automotive, and construction. Composites are essential to advancing technology, fuel efficiency, and structural integrity in various applications because of their special qualities.

Ceramics is the fastest-growing category over the forecast period. Ceramics are used in electronics, Aerospace, and medical because of their strength, electrical characteristics, and resilience to high temperatures. The market for ceramics is growing due to consumer demand for strong, lightweight, and heat-resistant materials. These materials also drive advancements in manufacturing, energy, and cutting-edge technologies in various industries.

• Composites
• Ceramics
• Polymers
• Nanomaterials
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Advanced Materials Industry. Request a Free Sample PDF!

Advanced Materials Application Segment Analysis

According to Cognitive Market Research, Healthcare holds a prominent market share. Innovation has been spurred by the industry's need for biocompatible, lightweight, high-performance materials. Innovative materials are used in drug delivery systems, implants, and medical equipment to improve patient outcomes and treatment effectiveness. The dynamic nature of healthcare systems persists in stimulating research and development, hence augmenting the significance of sophisticated materials in molding the trajectory of medical technology.

Automotive & Aerospace is the fastest-growing category over the forecast period. The need for novel materials is fueled by the desire to build stronger, lighter, and more fuel-efficient automobiles. Advanced automotive and Aerospace technologies have benefited greatly from developing advanced composites, alloys, and lightweight polymers, which have also aided in the progress of design, manufacturing, and sustainability.

• Healthcare
• Automotive & Aerospace
• Electrical & Electronics
• Industrial
• Petrochemicals
• Plants
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

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• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
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Author's Conclusion