(MENAFN- America News Hour) In a recently published report, Global Advanced Functional Material Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Advanced Functional Material Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Advanced Functional Material market is valued approximately at USD 26.12 Billion in 2018 and is anticipated to grow with a growth rate of more than 5.98% over the forecast period 2019-2026. The Advanced Functional material (AFM) reduce the carbon footprint of the components and consume less energy during the manufacturing process and smaller carbon footprint during its use or when recycled. This material is in demand in industries such as electrics & electronics, automotive, aerospace and pharmaceuticals. The advanced functional material substitutes conventional materials in transport industry and rise in demand in healthcare industry are the factors accelerating the growth of market over the forecast years. For instance: According to the IQVIA institute, the global market of pharmaceutical reached to USD 1.2 trillion in 2018 that is increase of over USD 100 billion from 2017. Thus, increase in growth of pharmaceutical industry due to advent of technological advancement and important role of advanced functional material in pharmaceutical industry accelerate the growth of market over the forecast years. Whereas, an emerging trend of conductive polymers and Eco-building of the future using advanced functional material is a lucrative opportunity for the growth of market over the upcoming years. However, higher cost and complexity in availability of raw material is hampering the growth of market over the forecast years.
The regional analysis of global Advanced Functional Material market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific accounts for the largest share in the global Advanced Functional material due to the increasing demand for automotive production and presence of large number of consumer electronics device manufacturers. Similarly, Asia Pacific is the fastest growing region in the global Advance Functional material market owing to the emerging market of automotive industry in the region.
Market player included in this report are:
3M Company
Air Products and Chemicals, Inc.
Ametek Inc.
Applied Materials Inc.
Applied Nanotech Holdings, Inc.
Bayer AG
Cambridge Display Technology Ltd
CNANO Technology Ltd
Ceradyne Inc.
CPS Technologies Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Composites
Ceramics
Energy material
Nanomaterial
Conductive polymers
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Advanced Functional Material Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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