Europe Advanced Materials Market

Europe Advanced Materials Market

Europe advanced materials market is growing with a CAGR of 4.8% from 2020 to 2029

2021-06-29

Europe advanced materials market reached US$ 40,602.07 Million in 2019 and is expected to reach US$ XX Million by 2027, growing with a CAGR of 4.8% from 2020 to 2027

Europe advanced material market has shown unprecedented growth in the past few years and has become the fastest-growing region globally. Growth and expansion of the automobile and aerospace industry in the region is the prime key factor behind the growth of the advanced material market in the region

The European automobile industry is exporting high-quality vehicles and creating a US$ 89 billion (€ 74 billion) trade surplus. Between January and December 2020, the Volkswagen Group accounted for roughly a quarter of all new car registrations in European markets. Till 2020, the automaker has sold over 3 million vehicles, nearly 93,500 more than its two nearest competitors combined.

Hence, the improving business of automotive in the European market creates immense opportunities for the advanced material in the region

Advanced materials in automotive are helping automakers to build lighter and more fuel-efficient vehicles. The materials are used in a diverse set of cars and trucks, helping them in meeting stringent crash safety standards and improving fuel economy, which helps achieve government Corporate Average Fuel Economic (CAFE) mileage requirements.

Furthermore, stringent CO2 emission standards for vehicles set by the European government promoted the need to use advanced materials in the automotive industry. Since weight reduction is a key factor in reducing emissions, manufacturers are rushing to produce lightweight vehicles. Among different advanced materials, carbon fiber reinforced plastic (CFRP) is more likely to replace high-tension steel in such a situation

The European aerospace and defense industry had a gross turnover of more than US$ 279 billion (€ 250 billion) in 2019. European aerospace companies produced single-engine piston, multi-engine piston, turboprop, and business jets during that period

Presence of the giant aerospace company such as Airbus, the world's largest airliner manufacturer in Europe, pushes the carbon fiber reinforced plastic (CFRP) market in the region, uplifting the market share of the product

France and Germany are among the top countries in Europe where the adoption of advanced technologies is highest and contributes to the advanced material in recent times

The European medical technology market is estimated at roughly US$ 138 billion (€ 120 billion) in 2018. Germany, France, the United Kingdom, Italy, and Spain have the largest medical device markets in Europe. Growing medical device market in Europe is boosting the advanced material demand. Increasing orthopedic surgeries in the region and growing cardiovascular cases are the prime factors behind the market's growth.

In 2010, the construction industry in France produced US$ 3,409 billion (€ 257,1 billion) in revenue. The building and construction industry in France had about 472.4 thousand associated companies as of 2018. Hence, growing construction projects in France are building the sector's market share and improving the market of advanced materials in the region

The advanced materials add value in terms of increased performance and functionality in a construction project. The materials also help address the durability challenges in a changing environment, thereby improving the construction quality

The global demand for nanomaterials is expected to be 11 million tons with a US$ 24 billion (€ 20 billion) market value. It is also dominated by materials that have been in use for decades, such as carbon black (which is primarily used in tires) and synthetic amorphous silica (which is used in several applications, including food processing)

Improving nanomaterial market in the region helps to fight against growing healthcare problems in the region, such as tumor therapies, and increasing investment in medical research is building up the business of advanced materials in the region

About Us:

DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.

For more information:

Sai Kiran

Sales Manager at DataM Intelligence

Email: [email protected]

Tel: +1 877 441 4866

Website: www.datamintelligence.com

Found it interesting?

Sai Kiran
Sales Manager at DataM Intelligence
Email: [email protected]
Tel: +1 877 441 4866

We have 5000+ marketing reports and serve across 130+ countries