"Advanced materials for harsh conditions like high temperatures and corrosion are vital in aerospace, defense, and energy industries, boosting performance and safety. The global market is growing due to increased demand for durable solutions."
BOSTON, Feb. 11, 2025 /PRNewswire/ -- According to the latest study from BCC Research, the demand for Advanced Materials for Extreme Environments: Global Markets [https://www.bccresearch.com/market-research/advanced-materials/extreme-environments-advanced-materials-market-report.html?utm_source=PRNWAVM198B&utm_medium=referral&utm_campaign=prnewswire] reached $3.2 billion in 2023 and is expected to grow from $3.4 billion in 2024 to $4.5 billion by the end of 2029, at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2029.
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This report examines the global market for advanced materials used in extreme environments, valued for their strength, lightweight, and durability. It analyzes the market by materials, forms, applications, industries, and regions, with revenue data and company profiles included.
Interesting facts
-- Advanced materials can replace metal parts in aerospace, reducing
aircraft weight and improving fuel efficiency.
-- In energy plants, these materials' coatings minimize corrosion and lower
maintenance costs, protecting boilers.
-- Advanced materials are widely used for dental products like braces,
crowns, and implants.
Factors contributing to the market's growth include:
1. Growing government investments in defense: Governments are increasing
investments in defense to strengthen national security, improve military
technology, and address evolving threats. This includes spending on
advanced weapons, equipment, and defense infrastructure.
2. Increased demand in the aerospace industry: There is growing demand in
the aerospace industry due to the need for advanced aircraft, space
exploration, and better transportation technologies.
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Report Synopsis
Report Metric Details Base year considered 2023 Forecast period considered 2024-2029 Base year market size $3.2 billion Market size forecast $4.5 billion Growth rate CAGR of 5.8% from 2024 to 2029 Segments covered Material Type, Composition, Form, Application, End-Use Industry, and Region Regions covered North America, Asia-Pacific, Europe and Rest of the World (RoW) Countries covered The U.S., Canada, Mexico, Germany, France, the U.K., Japan, China, and India Market drivers -- Growing government investment in defense. -- Increased demand in the aerospace industry.
This report addresses the following questions:
1. What is the projected size and growth rate of the market?In terms of
value, the global market for advanced materials for extreme environments
is projected to grow from $3.2 billion in 2023 to $4.5 billion bt the end
of 2029 at a compound annual growth rate (CAGR) of 5.8% during the
forecast period.
2. What factors are driving the growth of the market?Growing government
investment in defense and Increased demand in the aerospace industry.
3. What market segments are covered in the report?The market for advanced
materials for extreme environments is segmented on the basis of material
types, compositions, forms, applications, and end-use industries.
4. Which end-use segment will dominate the market in 2029?The aerospace and
defense segment will dominate at that time.
5. Which region has the largest market share?North America holds the largest
share of the market.
Leading companies in the market include:
-- 3M
-- Able Target Ltd.
-- Advanced Ceramic Materials
-- Atlantic Equipment Engineers
-- Coorstek Inc.
-- Denka Co. Ltd.
-- General Atomics
-- General Electric Co.
-- Innovacera
-- Jilin 11 Technology Co. Ltd.
-- Kennametal Inc.
-- Kyocera Corp.
-- Plansee SE
-- Saint-Gobain
-- Stanford Advanced Materials
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