Advanced Materials Industry Insights, Trends and Forecast upto 2024
According to a new research report by Transparency Market Research (TMR), the global advanced materials market is highly concentrated with only one player, 3M, capturing most of the global market. In 2015, the company acquired nearly 70% of the overall market and is expected to continue holding bigger chunk of the market in the years to come. The wide product range and proprietary technologies, the company use for product development, are the main factor behind the dominance of 3M over the market. The market, however, is all set to witness a revolution as a number of players are making huge investments to develop advanced materials in order to match up the modern needs of industries across the world, states the research report. According to the research report, the global market for advanced materials is expected to rise at a CAGR of 10.40% during the period from 2016 to 2024. The opportunity in this market, which was worth US$42.76 bn in 2015 is anticipated to rise to US$102.48 b...