Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 59.5 Billion | USD 98.4 Billion | 6.5% | 2022 |
FrequentlyAsked Questions
The complicated scientific discipline of advanced materials encompasses a wide range of areas and applications. According to Advanced Materials 101, advanced materials are any new substance that has been actively made by humans.
The primary drivers of market expansion are rising automobile production and rising demand in the electrical and electronic sectors. Furthermore, an additional element propelling the market's expansion is the expanding R&D efforts to use advanced materials and technologies.
According to the report, the global market size was worth around USD 59.5 billion in 2022 and is predicted to grow to around USD 98.4 billion by 2030.
The global Advanced Materials market is expected to grow at a CAGR of 6.5% during the forecast period.
The global Advanced Materials market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market due to the growing automotive industry.
The global Advanced Materials market is dominated by players like BASF SE, 3M Company, Cerion LLC, DuPont de Nemours, Inc., ExxonMobil Corp., INEOS Group Ltd., Huntsman Corp., Hanwha Group, LG Chem Ltd., LyondellBasell Industries N.V., Materion Corp., Akzo Nobel N.V., Mitsubishi Chemical Holdings Corp., Perpetuus Advanced Materials, Owens Corning, Saudi Basic Industries Corp., SINOPEC Shanghai Petrochemical Co. Ltd., Solvay SA and Toray Industries, Inc. among others.
The Advanced Materials market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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