The 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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Key content of this market:
AFMs for low carbon applications include five categories of materials. These are advanced functional ceramics, advanced functional composites, advanced energy materials, conductive polymers, and nanomaterials. The demand for advanced functional material is derived from industries such as electrical & electronics, energy & power, automotive, aerospace, and healthcare & pharmaceuticals. AFMs reduce the carbon footprint of the component in which it is incorporated in three ways. It consumes less energy during manufacturing process. It has a smaller carbon footprint during use and has a lower carbon footprint during recycling.
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Asia-Pacific is currently the largest market for advance functional material. The demand for advanced functional material is derived from end user industries such as automotive, aerospace, consumer durables, electronics, healthcare, and energy. China, Japan, and South Korea are the major markets for AFM in Asia-Pacific.
Nanomaterials are used in several industries due to its magnetic, optical, catalytic, and electronic properties. There are already established markets for nanomaterials such as titanium dioxide, zinc oxide, silicon oxide nanopowders and carbon nanotubes, nanofibers, nanosilver, nanoclays, quantum dots, and nanoporous materials. Nanoparticles are used in applications such as filtration, electronics, cosmetics, energy, medicine, chemicals, coatings, and catalysts.
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 todays 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.
The present advanced functional material market growing with a CAGR of 6.6% is expected to generate global revenue of $1,13,881.9 million by 2018.