Advanced functional materials are special quality compounds that exhibit superior properties such as high mechanical strength, resistance to corrosion, flexibility and high thermal &chemical stability. The advanced functional materials refer to a group of different compounds including ceramics, nanomaterials, composites and conductive polymers. Due to their superior properties, advanced functional materials have a wide range of applications in different end-use industries including healthcare, electronics, aerospace, automobile and others.

 Scope of the report

COVID-19 scenario analysis:

• As a result of the lockdowns in different nations, most of the manufacturing facilities were hugely affected. This resulted in reduction in demand for advanced functional materials in the market.

• China is the top producer of advanced functional materials and was also the first to be hit by the COVID-19 pandemic. The functional material industry has to suffer from a huge economic crisis. This is expected to hamper the advance functional materials market due to decreased productivity rates in Asia-Pacific region.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

One of the major factorsin the global advanced functional materials market is its extensive use in the electronics and healthcare sector. With rapid technological development in the field of nanotechnology, there is a growing usage for nanomaterials in the healthcare industries for diagnosis, drug delivery and other applications.  On the other hand, the advanced functional materials also have a wide range of applications in the electronics sector during the production of high energy density capacitors, super capacitors, batteries and other products. Several advanced materials are also used in the automobile and aerospace industries in order to produce lightweight and efficient vehicles as well as aircrafts. The wide range of applications of advanced functional materials in the different end-user industries is expected to boost the demand for these compounds in the near future. However, high prices of these materials are expected to act as a restraining factor for the market.

The market in the Asia-Pacific accounts for a major share of the global advanced functional materials market owing to high demand for these materials in the electronics and automobile sector present. The market in Europe and North America is also expected to grow at a significant pace due to rapid growth in the healthcare and manufacturing sector in the developed nations of these regions.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global advanced functional materials industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global advanced functional materials market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global advanced functional materials market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global advanced functional materials market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the advanced functional materials market research report:

• Which are the leading market players active in the advanced functional materials market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
• What should be the response of advanced functional materials market players amid the COVID-19 pandemic?
• What is the outlook of the industry?