Advanced Materials Market Research Report and Forecast up to 2024 Advanced Materials Market Growth, Trends, and For

Advanced Materials Market - Global Industry
Analysis, Size, Share, Growth, Trends, and
Forecast 2016 - 2024
Global Advanced Materials Market: Snapshot
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 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 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.
View Report @ http://www.transparencymarketresearch.com/advanced-
materials-market.html
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 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.
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
are made by using two or more constituents that have significantly different