Logistic Market Research
Advanced materials are engineered through material science technology. Conventional materials are modeled to form enhanced substances. Materials like wood are modified through the application of heat and pressure to hereafter change the base molecular structure of the substance. On modification, the material’s properties begin to differ from the component substances. A fine example of this technology is composites and nanomaterials.
Composites are made through a combination of two or more materials. The materials used have distinct physical and chemical properties in comparison to each other. The advanced material formed on the combination of the two components is seen to have different properties as compared to its essential sources. Upon modification, composite materials gain qualities like high tensile strength, high stress to strain ratio and are easily malleable. The ease of modification and the structural integrity of this material promotes its application in construction, automotive as well as the defense sector. The component materials retain their individualistic properties at a molecular level within composites. This is one of the key differentiating factors between a composite and a mixture. The lack of standardization in terms of material processing is one of the key drawbacks of this segment.
Other advanced materials include nanomaterials. Nanomaterials are a product of nanotechnology combined with material sciences. The component substances used for the fabrication of this material have a size that is lesser than 100 nM. The concept for the development of these materials is derived from microfabrication research. The applications of this material have been expanding. Therefore, Nanomaterials are gradually becoming commercialized. They are beginning to emerge as commodities.
Advanced electronic materials are essentially formed through the combination of the fields of material science and physics. The technology revolves around the engineering of electronic and magnetic materials. Advanced materials have a wide range of applications in semiconductor devices, chip design, robotics, etc. Some of these substances include G. fast chipset, quantum dots, flexible battery, graphene, silicon carbide (SiC), 3D IC & 2.5D IC packaging, carbon nanotubes, smart glass, and biochips.
Chemical Market Forecast focuses on the value chain analysis and supply chain optimization for the Advanced materials and electronics market. The changing market dynamics and the expanding applications of this segment are studied thoroughly though the reports within this segment. Advanced materials and electronics report is poised to examine the varied segments within this market and perform a scenario analysis based on strategic growth.
North America Advanced Material Market Analysis
North America is one of the most lucrative markets for Advanced materials and electronics. NA invests heavily in material science research due to its applications in important fields like defense. The use of composites to develop parts of aircraft and light armored vehicles propels the growth of this market. The properties of a composite are heavily reliant on the raw material and the process conditions employed for its fabrication. Moreover, the growth of in-house OEMs within the A&D sector accelerates the growth associated with this market.
The automotive and transportation segment within NA is a part of the value chain for the advanced materials market. The industry is committed to developing lightweight fuel-efficient vehicles. Additionally, advanced materials on an average are cost optimum as compared to heavy metals. This factor adds as another driver for this market. According to the data obtained from world bank data, the total CO2 emission within NA accounts for a value of 15.5%. The country is making an attempt to use composites and nanomaterials to fabricate automotive that has the ability to reduce its carbon footprint by integrating fuel efficiency.
The composites market within the U.S has been showing positive growth despite the U.S- China Trade disputes. The market is driven primarily by wind energy, aerospace, and construction industries. On a holistic scale, the composites market was valued at USD 26.7 Billion in the year 2019. The growth rate for this segment is accounted to be between 3-5% during the forecast period (2028). Glass fiber-based composites dominate the market, followed by carbon fiber-based composites.
The glass fiber-based composites market is expected to grow by a value of roughly 2% in the year 2020. In terms of volume production, the market is anticipated to reach a value of 2.6 Billion lb. The sales revenue generated by this segment is estimated to be USD 2.2 Billion. By the year 2025, the demand for glass fiber-based composites is expected to rise to 3 Billion lb. Apart from construction and automotive, the pipe and tank segment also accounts for 57% of this market size. The increased residential and commercial construction within this area is expected to boost market growth. Additionally, continuous growth in terms of oil and gas activities is also poised to accelerate market growth. The drilling activities associated with Shale oil is a major part of the U.S economy.
Other factors like an increase in wastewater treatment facilities are also anticipated to augment the market growth in a positive direction. The use of glass fiber reinforced plastics in the construction segment has recorded a growth of 1.9% in the year 2019. The growth is driven by a continuous increase in employment, low mortgage rates, and slowing house price inflation.
The blades of wind turbines are made up of composite materials. The lightweight and malleability associated with these substances allow manufacturers to create long turbine blades. Currently, 2.5 million tonnes of composite material are in use in the wind sector globally. The blades of these turbines can be recycled through material-oriented processes. Research is being carried within this segment by the U.S government under the Department of Energy’s Small Business Technology Transfer program. A research grant worth USD 1.1 Billion is being provided for this purpose.
Some of the products for the advanced electronic materials (AEM) market include carbon nanotubes, quantum dots, graphene, etc. Graphene is primarily segmented as a material that is renewable, lightweight, and flexible. The AEM is an electrically and thermally active substance. Graphene has other properties like high electron mobility and permeability. The properties of this substance promote its use in applications including energy storage, fabrication of semiconductors, and sensor-based technology. According to Advanced Materials And Electronics Market Report, the U.S spearheaded the North American graphene market in the year 2019. This growth is due to the increased research collaborations within this region.
The key player within the North American Composites market includes Owens Corning, Jushi, Nippon Electric Glass, CPIC and Johns Manville. The top three companies account for more than 50% of the output value generated for the production of GFRP in the U.S. Owens Corning is the world’s largest fiberglass composites manufacturer. The company employs roughly 19,000 people worldwide. In the year 2017 at the TCT show in Birmingham, the company introduced the XStrand family of materials. These composite materials were primarily used for 3D printing applications. In the year 1939 Owens Corning also designed warship insulation also known as a navy board. The product was essentially permanent form-board insulation covered with a woven continuous fiber cloth.
The company Angstron Materials is based in Ohio, USA. It is one of the key players in the graphene market. The company specializes in the production of nanographene platelets (NGPs). The organization is also a producer and exporter of pristine graphite and single-layer graphene.
Europe Advanced Material Market Analysis
The European Advanced Materials market is majorly driven by factors like the expanding R&D sector within this segment. Moreover, due to the varied applications of these materials, their demand has hereafter been increasing. The U.K is the largest segment within the Advanced Materials Market. UK’s material manufacturing segment accounted for a value of USD 43.27 Billion in the year 2019. The reinforced materials segment is one of the largest economic contributors in the UK. The advanced materials industry contributes roughly 12-15% of the GDP. The country exported advanced material worth USD 20.02 Billion in the year 2019.
These materials are also used extensively by the Automotive as well as Transportation sectors. Additionally, in the year 2019 UK also instated the Sir Henry Royce Institute for Advanced Materials. The academic institution is expected to steadfast in the field of material sciences through collaborative research with top companies within this market. Other countries poised to experience growth within the EU including Germany and France.
The composites segment within the advanced materials market accounted for a value of USD 16.6 Billion in the year 2018. The market is expected to grow with a CAGR of 7-9% within the forecast period (2020-2028). The increasing demand for lightweight materials within the EU propels the growth of the composites market. Additionally, growing concerns about environmental degradation with respect to CO2 emissions has led to the use of carbon fiber composite materials as a substitute for its metallic counterparts. The presence of stringent government norms has forced automotive manufacturers to include composites in automotive production. The EU has been focusing on the development of technological innovations that could reduce the manufacturing time while fabricating composites. The lightweight and high tensile strength associated with these materials increase their applications within the aerospace sector.
Carbon fiber in combination with plastic resin produces carbon fiber reinforced plastic. These substances are extensively used within the industrial sector owing to their properties like high chemical resistance, low thermal expansion, and low weight. Therefore, CFRP is the fastest-growing segment within the composites market. While GFRP is the largest segment within this segment. With respect to resins, the thermosetting segment contributed to 71.8% of the market share in the year 2018.
The Advanced Electronic Materials market is led by the Graphene segment within the UK. In the year 2019, the company Versarian developed a strategic alliance with AXIA materials to perform collaborative research in the year 2018. Versarien plc is an IP-led advanced engineering materials group, the company is based in the UK. While AXIA is a company headquartered in South Korea, it develops synthetic resins and plastics. The objective of this alliance was to develop graphene-enhanced composite materials and smart graphene devices, using Versarian’s graphene nanoplatelets and inks.
Other key players of the European composites market include Solvay. The company is primarily headquartered in Belgium. Solvay employs 30,900 people in 53 countries. The company is a major part of the Solar Impulse project. Solar Impulse is a Swiss long-range experimental solar-powered aircraft project. Solvay has been a part of the research and development stage for this assignment.
Asia Pacific Advanced Material Market Analysis
The Advanced Materials market is primarily governed by APAC. The region is expected to account for roughly 58% of the market by the year 2024. Chemical market reports state that the increasing number of industries and manufacturing within this segment accounts for the growth of this market. Moreover, the construction activity within this region has been increasing with rapid urbanization. Advanced materials like composites are hereafter widely used within this segment.
APAC is the largest producer of composites globally. The region contributes to 44.7% of the global revenue generated within this market. Wood-plastic is a type of composite that is composed of wood and thermoplastic resin. The wood plastics composites market is poised to grow at a rate of approximately 10-13% within APAC. In terms of production volume, the market is anticipated to grow at a rate of roughly 12% annually. China is the largest shareholder in the wood-plastics market. The Japanese wood-composites market grows at a rate of 10% per year. The automotive manufacturers within this area are making use of WPC in combination with plastic composites made upon organic material to reduce the car’s weight and the carbon emission. Countries like South Korea abide by strict government regulations that prohibit excess emission of greenhouse gases. Therefore, increasing the fuel efficiency of the existing technology is of utmost importance within this region.
The aircraft composites segment has also been experiencing tremendous growth within the APAC owing to indigenous programs within this segment. On making use of composites in the design of aircraft, it is seen that the MRO cost associated with the structural design decreases. Moreover, lesser tooling and fewer parts are required to construct long-range aircraft systems.
Additionally, due to the growing environmental awareness, large investments are being made into research associated with Biocomposites. These materials are made up of a biopolymer matrix that is reinforced with natural fibers. The reducing reserves for crude necessitate the need for Green composites.
APAC is also expected to lead the electronic materials and chemicals market. The semiconductor segment within this sector is anticipated to experience tremendous growth. The growing demand for circuit boards and memory chips drives this market. Additionally, technologies like artificial intelligence have also been penetrating rapidly into this sector. The growing demand for other components like silicon wafers is also augmenting the growth of the market positively. Silicon wafers are increasingly used in the design of integrated circuits as well as microelectronic devices. They are also used to design tire pressure systems as well as solar cells.
The use of smart material is also another lucrative segment being explored by this market. Smart materials are substances that are responsive to stimuli. The material is capable of sensing changes in stress, pH, moisture content, temperature, and other external factors. The material typically consists of one or more properties that can be modified with a change in stimuli. The modification can be studied with respect to the type of stimulus employed.
TATA Advanced Materials is a pioneer and leader in the composite systems market. The company is essentially based in India and it caters to the demands of the global aerospace and defense industry. The company develops composite Parts for Space Applications, Structural Components, Engine Components, Armored personnel carriers, etc. The organization aims to attain a revenue of USD 100 Million in the year 2020.
Hitachi Chemical co is a company that focuses on the production of advanced electronic materials. The Company is headquartered in Japan. Hitachi Chemical co is a chemical manufacturing organization. The enterprise also focuses on the development of semiconductors, as well as display related material. They also specialize in the production of adhesive films, ceramics, and functional polymeric material.
Rest of the World Advanced Material Market Analysis
Advanced Material and Electronics forecast state that the South American Advanced ceramics market is poised to grow with a CAGR of 7-9% between the years 2020-2028. Brazil is expected to spearhead this market owing to the increased applications of ceramics within this segment. The high heat resistance, chemical inertness, and electrical stability of the material hereby increase its applications in segments like construction and automotive. Additionally, Brazil is one of the topmost manufacturers within the aerospace industry globally.
Therefore, the use of composites in the building of aircraft also propels the growth of this market. The state of Sao Paulo within Brazil consists of 100 manufacturing facilities out of which 73% are Brazilian units. Though Brazil is a region with manufacturing capability, the exports within this market are significantly lesser as compared to the RoW. In-house OEMs within companies is expected to be one of the reasons for the decreased exports of composite materials.
Saudi Arabia is also a potential market for Advanced Materials within the Middle East. The economy for this country is highly reliant on the petrochemical segment. Therefore, due to the abundance of oil reserves within this nation, the fabrication of polymer-based composites is prevalent within this area. Moreover, the need for robust material substances for industrial applications has been growing within this segment. The need for products like advanced function membrane and desalination resistant materials has been growing within this market. Fabrication of materials like ceramics and smart materials is also expected to propel the growth of this market positively.