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The predicted growth for the advanced functional materials market share from 2021 to 2026 is USD 48 billion at a progressing CAGR of 9.02%.
This commercial vehicle fleet management system market forecast report extensively covers segmentations by:
The advanced functional materials market report offers information on several market vendors, including 3M Corp, AMETEK Inc., Applied Materials Inc., Arkema Group, BASF SE, CeramTec GmbH, Compagnie de Saint Gobain SA, Covestro AG, CPS Technologies Corp., Deutsche Edelstahlwerke Specialty Steel GmbH and Co. KG, DIC Corp., DuPont de Nemours Inc., Functional Materials Manufacturing Inc., Hexcel Corp., Momentive Performance Materials Inc., NiKKi Fron Co. Ltd., Schweiter Technologies, SHOWA DENKO K.K., Sumitomo Chemical Co. Ltd., and The Dow Chemical Co. among others. Furthermore, our analysts have provided valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.
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Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The increase in automotive regulatory requirements is notably driving the advanced functional materials market growth, although factors such as fluctuating raw material prices and high cost of materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the advanced functional materials industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Advanced Functional Materials Market Driver
Key Advanced Functional Materials Market Trend
Key Advanced Functional Materials Market Challenge
For instance, in March 2022, Oil prices surged by over 7%, which is the highest since 2014. Thus, members of the IEA, including the US and Japan, agreed to release 60 million barrels of crude oil from their reserves to try to subdue the sharp increase in prices of crude oil. Such fluctuations in crude oil prices may limit the advanced functional materials market growth during the forecast period.
This advanced functional materials market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global advanced functional materials market as a part of the global diversified metals and mining market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the advanced functional materials market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the advanced functional materials market encompasses successful business strategies deployed by the key vendors. The advanced functional materials market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The advanced functional materials market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the advanced functional materials market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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50% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the advanced functional materials market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing consumption of advanced functional materials will facilitate the advanced functional materials market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 negatively affected the regional market. However, the resumption of industrial activities from 2021 raised the demand for advanced functional materials in the industrial sectors, which, in turn, will contribute to the growth of the advanced functional materials market in focus in the region during the forecast period.
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The advanced functional materials market share growth by the composites segment will be significant during the forecast period. Composites are extensively used as a replacement for steel owing to their higher strength-to-weight ratio. The composite material comprises one or more constituent materials with different chemical or physical properties. These materials are combined to produce advanced functional composites, which are distinct in characteristics, light, cost-effective, and strong compared with conventional metals. These factors of composites will drive the advanced functional materials market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the advanced functional materials market size and actionable market insights on the post-COVID-19 impact on each segment.
Advanced Functional Materials Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.02% |
Market growth 2022-2026 |
$48 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.86 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 50% |
Key consumer countries |
US, Mexico, China, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Corp, AMETEK Inc., Applied Materials Inc., Arkema Group, BASF SE, CeramTec GmbH, Compagnie de Saint Gobain SA, Covestro AG, CPS Technologies Corp., Deutsche Edelstahlwerke Specialty Steel GmbH and Co. KG, DIC Corp., DuPont de Nemours Inc., Functional Materials Manufacturing Inc., Hexcel Corp., Momentive Performance Materials Inc., NiKKi Fron Co. Ltd., Schweiter Technologies, SHOWA DENKO K.K., Sumitomo Chemical Co. Ltd., and The Dow Chemical Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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