Global Advanced Functional Materials Market

Advanced Functional Materials Market Size, Share, Growth Analysis, By Type (Ceramics, Energy Materials), By End-user Industry (Electrical & Electronics, Automotive), By Region - Industry Forecast 2025-2032

Report ID: SQMIG15A2420 | Region: Global | Published Date: November, 2024
Pages: 186 | Tables: 68 | Figures: 70

Advanced Functional Materials Market News

  • In January 2022, Oxford University's Department of Physics planned to establish the Advanced Functional Materials Research Facility known as the National Thin Film Cluster Facility (NTCF) This facility supports the development of new advanced material-consuming materials environmental, technological, social and other challenges.
  • In November 2022, Covestro Ag developed functional materials solutions for automotive applications. In the future, this innovation can be used in automobiles to meet the changing demands of the automotive industry.
  • In February 2022, Oxford University's Department of Physics established an Advanced Functional Materials Research Facility called the National Thin Film Cluster Facility (NTCF). This facility supports the development of new advanced functional materials that consume the environment, technological, social and other challenges. In November 2022, Covestro Ag developed functional materials solutions for automotive applications. In the future, this innovation can be used in automobiles to meet the changing demands of the automotive industry.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Advanced Functional Materials Market size was valued at USD 115.3 Billion in 2023 and is poised to grow from USD 124.06 Billion in 2024 to USD 222.93 Billion by 2032, growing at a CAGR of 7.6% during the forecast period (2025-2032).

The competitive environment of the Global Advanced Functional Materials Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options. '3M ', 'BASF SE ', 'Arkema SA ', 'Henkel AG & Co. KGaA ', 'Covestro AG ', 'Dow Inc. ', 'DuPont de Nemours, Inc. ', 'Hexcel Corporation ', 'CeramTec GmbH ', 'Saint-Gobain ', 'Evonik Industries AG ', 'Kyocera Corporation ', 'Sumitomo Chemical Co., Ltd. ', 'Momentive Performance Materials Inc. ', 'Applied Materials Inc. ', 'DIC Corporation ', 'AMETEK Inc. ', 'CPS Technologies Corporation ', 'Schweiter Technologies AG ', 'Functional Materials Manufacturing Inc. '

The global advanced functional materials (AFM) market is driven by several key factors that significantly impact its growth trajectory. The demand for innovation in business is a key driver. From electronics and healthcare to energy and automotive, companies are looking for ways to make their products and systems more efficient. AFM offers unique assets that can revolutionize these industries, improving productivity, scalability and efficiency. For example, in the electronics industry, graphene and other AFMs enable faster and more efficient electronics, while in the energy sector, materials such as perovskite solar cells promise efficient energy conversion. The increased emphasis on sustainability and environmental considerations is also driving the AFM market forward. Traditional raw materials and manufacturing processes often have a negative impact on the environment, leading businesses to look for environmentally friendly alternatives to which our surroundings do not deteriorate much.

The increased demand for advanced functional components in electronics is due to their improved properties including even higher mechanical strength and corrosion resistance, an increasing overall machine performance and life.

North America is considered as one of the most important markets for advanced services, due to the presence of many manufacturers and suppliers in the region North America is predicted to have leading markets in U.S. and Canada. The market is forecasted to reach $41.33 billion (about $130 per person in the US) by 2032, compared to the previous estimate of $18.28 billion (about $56 per person in the US) by 2022, with a CAGR of 8.5% (2024-2031).

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Functional Composites Market
Buy Now GET FREE SAMPLE
Advanced Polymer Composites Market
Buy Now GET FREE SAMPLE
Aerospace Materials Market
Buy Now GET FREE SAMPLE
Advanced Composites Market
Buy Now GET FREE SAMPLE
Functional Coatings Market
Buy Now GET FREE SAMPLE
Smart Materials Market
Buy Now GET FREE SAMPLE
Electronic Chemicals And Materials Market
Buy Now GET FREE SAMPLE
Construction Materials Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Advanced Functional Materials Market

Report ID: SQMIG15A2420

$5,300
BUY NOW GET FREE SAMPLE