Advanced Functional Material Market to Reach $ 1, 13,881.9 Million by 2018 at a 6.6% CAGR - New Report by MarketsandMarkets
(PRWEB) August 19, 2013 -- This report, "Advanced Functional Material Market For Low Carbon Applications By Categories (Ceramics, Composites, Energy Materials, Conductive Polymers & Nanomaterials), Applications (Chemicals, Electronics, Healthcare & Transportation) & Geography - Global Trends & Forecasts To 2018" define and segment the global AFM market with analysis and forecasting of the global market by revenue and volume.
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Asia-Pacific - biggest market of AFM
Asia-Pacific is the largest market for AFMs with the highest consumption by volume around the globe. The demand for AFM is Asia-Pacific is driven by countries such as China, Japan, South Korea, India, Taiwan, Malaysia, Thailand, Indonesia, and Philippines. Major industrial segments using AFMs in would be automotive, paints, chemicals & materials, aerospace, energy & power, building & construction. The market is expected to grow with a high CAGR to reach 5,147.3 kilotons by 2018.
Nanomaterials - fastest growing category of AFMs
Nanomaterials include Nanoparticles and carbon nano-tubes. Carbon nano-tubes are further segmented into single walled and multi walled nano-tubes. The global market for carbon nano-tubes is expected to reach 133.5 kilotons by 2018. Applications for nanomaterials include chemicals & materials, electrical and electronics, healthcare & pharmaceuticals, and others. Asia-Pacific is the fastest growing market for nanomaterials with a CAGR of 23.6%. The market for AFM in Asia-Pacific is dominated by China with a 35.4% share of the market followed by Japan and South Korea. Taiwan, India, Malaysia, and Indonesia are other significant markets for nanomaterials in Asia-Pacific.
Advanced functional ceramics - the largest category of AFM
Advanced ceramics can be classified into three types based on their properties and usage.
These are monolithic ceramics, ceramic matrix composites, and ceramic coating systems. Advanced functional ceramics have an especially high potential to resolve a wide number of today’s material challenges in process industries, power generation, aerospace, transportation, and military applications. Such applications are vital to maintain global competitiveness, decreasing energy consumption, and carbon footprint. The current market for advanced functional ceramics is growing with a CAGR of 5.0%. Europe is currently the largest and Asia-Pacific is the fastest growing market for advanced functional composites.
ReneSola Ltd (China), 3M Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Bayer AG (Germany), Ceradyne, Inc.(U.S.), Kyocera Corporation (Japan), Momentive Performance Materials Inc. (U.S.), and Samsung Electro-Mechanics Company (South Korea) are among the major players in the global AFM market.
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