MRRSE announces addition of new report "Advanced Materials Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024" to its database

1. Advanced Materials Market - Show of Excellent Strength
Boosts Demand for Ceramics
Report Description
Advanced materials are known to have superior qualities as
compared to traditional materials. Thus, they are used in
varied applications. These materials are known to deliver

2. excellent performance due to their exceptional strength and
high endurance to tolerate fatigue. The research report states
that the global advanced materials market is expected to be
worth US$102.48 bn by 2024 as against US$42.76 bn in
2015. Between the years of 2016 and 2024, the global market
is expected to surge at a CAGR of 10.4%.
Sophistication in Material Spurs Demand
Analysts anticipate that the demand for advanced materials
will continue to be on the rise as it is expected to transform
the overall manufacturing industry in the coming years. Over
the years, these materials are expected to replace plastics and
metals with improved ceramics and composites that are light

3. in weight, higher strength, and excellent resistance to
abrasion. Emerging technologies and advancements in product
development and manufacturing are expected to keep the
demand for advanced materials at an all-time high during the
forecast period. The growing expenditure on research and
development of these materials is also projected to make a
significant impact on the growing demand in the global
market.
Show of Excellent Strength Boosts Demand for Ceramics
The various products available in the global market are
ceramics, polymers, composites, metals and alloys, and
glasses. Of these, the ceramics and composites are popularly

4. consumed advanced materials. The demand for ceramics has
been on the rise due to their application in the production of
medical devices. As uptake of ceramics will continue to
remain high as the healthcare industry grows and the need
for medical attention surges during the forecast period.
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Meanwhile, the composites segment is also expected to show
exceptionally growth as they can be mass-produced as per
requirement and can be used in several applications such as
construction, automotive, and oil and gas industries. Ceramics

5. are made by using two or more constituents that have
significantly different physical or chemical traits. A
combination of these results in a material with characteristics
different from its individual components. These constitutes
are selected on the basis of the end-use application of these
ceramics. Thus, composites have an edge over other products
and are thus likely to exhibit rapidly growth in the coming
few years.
Large Production Capacities in North America and Europe
Ensure Regions’ Dominance
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6. Geographically, the global advanced materials market is
segmented into North America, Latin America, the Middle
East and Africa, Europe, and Asia Pacific. Of these, North
America and Europe were the dominant consumers of
advanced materials in the global market. The growing
consumption of advanced materials in these regions will be
attributable to the mammoth production capacities and
sophistication with the advancement of technologies. Asia
Pacific is also expected to be an emerging region in the
global market over the forecast period as manufacturing
industries pick up pace in developing countries of India and
China. The booming industrial development in this region is
expected to make a significant contribution of the rising

7. revenue of the Asia Pacific advanced materials market
between 2016 and 2024.
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http://www.mrrse.com/advanced-materials-market
Some of the key leading players operating in the global
advanced materials market are 3M Advanced Materials,
Morgan Advanced Materials plc, Huntsman Corporation,
Hexcel Corporation, Hanwa Group, and Materion Corporation.
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