Advanced Functional Materials Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2024-2030

Report Code: CMR 64969 Report Format: PDF + Excel

Advanced Functional Materials Market - Overview

The Advanced Functional Materials Market size is estimated to reach more than US$190 billion by 2030, after growing at a CAGR 5% during the forecast period 2024-2030. The production of handy and portable devices is gaining momentum in the industry as advanced functional materials are commonly used in the devices to minimize the total power consumption of miniature electronics. Nanotechnology integration is revolutionizing the development of advanced functional materials, allowing for precise manipulation and control at the nanoscale level. This trend encompasses the synthesis of nanomaterials such as carbon nanotubes, graphene, and quantum dots, which exhibit exceptional properties like high strength, conductivity, and optical characteristic. Industries ranging from electronics and healthcare to energy and aerospace are leveraging nanotechnology to enhance the performance and functionality of their products. For instance, in the electronics sector, nanomaterials are enabling the production of smaller, more efficient devices with enhanced computing capabilities and improved energy efficiency. Similarly, in healthcare, nanomaterials are facilitating advancements in drug delivery systems, medical imaging, and diagnostics, leading to more effective treatments and improved patient outcomes. Another prominent trend in the advanced functional materials market is the increasing emphasis on sustainability and eco-friendly solutions. With growing environmental concerns and stringent regulations regarding carbon emissions and waste management, businesses are shifting towards sustainable materials and manufacturing processes.

Report Coverage

The report:Advanced Functional Materials Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Advanced Functional Materials Acid Industry.
By Type: Composites, Ceramics, Energy Materials, Nanomaterials, Conductive Polymers, and Others.
By End Use: Automotive, Medical, Industrial, Aerospace and Defense, Energy and Power, and others. 
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Russia, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, and Rest of APAC), South America (Brazil, Argentina, Colombia, and Rest of South America), Rest of the World (Middle-East and Africa) 

Key Takeaways

• Development in the use of nanotechnology is expected to bring diverse prospects for business growth in the coming years.
• With the growing consumption in electronics and automotive from countries such as China, India and other developing countries, the demand of advanced functional material tends to upsurge.
• In November and December 2022, new research facilities were launched at Oxford University to develop next-generation advanced functional materials. This indicates a strong focus on innovation and advancement in this area.

Advanced Functional Materials Market Segment Analysis- By Type

Nanomaterials segment is dominating and accounting with the highest share in the market. Nanomaterials include nanoparticles, nanofibers, nanotubes, nano clays, and nanowires among others. In the automotive and aviation industries, nanomaterials, especially carbon nanomaterials, are increasingly used due to their thermal conductivity, electrical conductivity, durability, high strength and elasticity, high aspect ratio, field emissions and high absorbent properties. Furthermore, the growing usage of nanomaterials in nanomedicine field of healthcare industry tends to increase the growth of advanced functional materials market.

Advanced Functional Materials Market Segment Analysis- By End Use 

Electronics & electrical industry is one of the main advanced functional material users. With advanced functional ceramics, conductive polymers and nanomaterials being a significant contributor to this market. In the electronics and electrical industry, advanced practical ceramics exhibit piezoelectric, mechanical, semiconducting, and conducting characteristics that make them viable for use in applications such as mobile phones and computers. India is one of the largest consumer electronics markets in Asia Pacific Region and is home to considerable talent for electronic chip design and embedded software. According to India Brand Equity Foundation, India has committed to reach US$ 300 billion worth of electronics manufacturing and exports of US$ 120 billion by 2025-26.  In addition. R&D investments in specialized product production using innovative dimensional composites for aerospace and automobiles are expected to open up a new gateway for experienced players in the materials industry. Growing the use of innovative functional composites assembled by mixing two or more materials maintains the distinctive properties that market participants are creating.

Advanced Functional Materials Market Segment Analysis- Geography

Asia-Pacific region was the largest market for advanced functional materials. The largest chunk of consumption in the region was China. China has the largest manufacturing base of electronics in the world and provides tough competition to existing upstream manufacturers such as South Korea, Singapore and Japan. One of the country's leading industries is the Chinese aerospace industry, and the government is investing heavily in the industry to expand domestic manufacturing capacity. In addition, with the consistent growth of China's and other developing countries' electrical and electronics, aerospace and other industries. According to India Brand Equity Foundation, The Indian aerospace & defence (A&D) market is projected to reach ~US$ 70 billion by 2030, driven by the burgeoning demand for advanced infrastructure and government thrust.
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Drivers – Advanced Functional Materials Market

• Growing demand in healthcare and medical industries.

The variety of applications of advanced functional materials in the medical and healthcare sectors has been expanded by technical developments in the versatile substrate market. For instance, specialized functional components, such as hip joint reconstruction, bone fixing plates, bone grafts, and bone cement, are commonly used in orthopaedic applications. Advanced functional materials often allow integrated systems to be mounted, thus expanding their use in MRI scanners, mammography plates, tables, X-ray couches, C scanners, and surgical target instruments. In addition, in the production of prosthetic and orthotic devices, innovative functional technologies such as composites and nanomaterials are rapidly replacing conventional materials such as wood, rubber, and aluminium. In order to fuel the development of the advanced functional materials industry, technical developments in medical and diagnostic instruments would be a critical consideration.

Challenges – Advanced Functional Materials Market  

Lack of expansion capacities

The lack of expansion capability to satisfy consumer demand, combined with technological enhancement, is projected to impede the development of advanced functional content market participants. Also, the manufacturing process in order to produce advanced functional materials is bit expensive, owning to this, only few manufacturers have the capability to deal with production and demand requirements. Due to the availability of few manufacturers, the cost of advanced functional materials tends to be high, which also becomes the major factor that constraints the growth of the market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Advanced Functional Materials Acid market. In 2023, the market of Advanced Functional Materials Acid has been consolidated by the top five players accounting for xx% of the share. Key companies of this market are
  1. 3M
  2. 3A Composites
  3. Hexcel Corporation
  4. BASF SE
  5. CeramTec GmbH 
  6. Arkema
  7. Henkel AG & Co. KGaA
  8. Convestro AG
  9. Kyocera Corporation
  10. Sumitomo Chemical Co., Ltd.


 In February 2023, Kuraray partnered with PTT Global Chemical (GC) and Sumitomo Corporation to enhance industrial capabilities in Thailand. This collaboration led to the establishment of Kuraray GC Advanced Materials, a joint venture aimed at manufacturing and selling butadiene derivatives.
 In September 2022, Henkel acquired NBD Nanotechnologies, a US-based advanced materials start-up, for an undisclosed sum. NBD Nano is headquartered in Boston, Massachusetts.
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1. Advanced Functional Materials Market- Market Overview
    1.1 Definitions and Scope
2. Advanced Functional Materials Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Type
    2.3 Key Trends by End-Use
    2.4 Key Trends by Geography
3. Advanced Functional Materials Market- Landscape
    3.1 Comparative analysis
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4Patent Analysis- Top Companies
        3.1.5Pricing Analysis
4. Advanced Functional Materials Market- Startup Companies Scenario
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Advanced Functional Materials Market– Industry Market Entry Scenario Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Advanced Functional Materials Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Advanced Functional Materials Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Advanced Functional Materials Market– By Type (Market Size -$Million)
    8.1 Composites
        8.1.1 Metal Matrix Composites
        8.1.2 Fibre Reinforced Plastics
    8.2 Ceramics
    8.3 Energy Materials
    8.4 Nanomaterials
    8.5 Conductive Polymers
    8.6 Others
9. Advanced Functional Materials Market– By End Use (Market Size -$Million)
    9.1 Automotive
    9.2 Medical
    9.3 Industrial
    9.4 Aerospace and Defense
    9.5 Energy and Power
    9.6 Others
10. Advanced Functional Materials Market- By Geography (Market Size -$Million)
    10.1 North America
        10.1.2 Canada
        10.1.3 Mexico
    10.2 South America
        10.2.1 Brazil 
        10.2.2 Argentina
        10.2.3 Colombia 
        10.2.4 Rest of South America
    10.3 Europe
        10.3.1 U.K 
        10.3.2 Germany 
        10.3.3 Italy 
        10.3.4 France
        10.3.5 Russia
        10.3.6 Spain
        10.3.7 Rest of Europe
    10.4 Asia Pacific
        10.4.1 China
        10.4.2 Japan
        10.4.3 Australia and New Zealand
        10.4.4 South Korea
        10.4.5 India
        10.4.6 Rest of APAC
    10.5 ROW
        10.5.1 Middle East
        10.5.2 Africa
11. Advanced Functional Materials Market- Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Market Share Analysis Premium
    12.1 Market Share by Country- Top companies
    12.2 Market Share by Region- Top companies
    12.3 Market Share by type of Product / Product category- Top companies
    12.4 Market Share at global level- Top companies
    12.5 Best Practices for companies
13. Advanced Functional Materials Market- List of Key Companies by Country Premium  
14. Advanced Functional Materials Market- Company Analysis
    14.1 Market Share, Company Revenue, Products, M&A, Developments
    14.2 3M
    14.3 3A Composites
    14.4 Hexcel Corporation
    14.5 BASF SE
    14.6 CeramTec GmbH 
    14.7 Arkema
    14.8 Henkel AG & Co. KGaA
    14.9 Convestro AG
    14.10 Kyocera Corporation
    14.11 Sumitomo Chemical Co., Ltd.
"*Financials would be provided on a best-efforts basis for private companies"
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