The biomimetic materials market is set to grow from $37.9 billion in 2020 to $65.9 billion by 2030, driven by advancements in healthcare and AI.
Global biomimetic materials market is driven by expansion of technologies in the healthcare sector, growth of artificial intelligence and automation, and rise in application of biomimetic material in construction, automotive, aeronautical, semiconductors and telecommunications. However, high per-unit cost of production restrains the market to some extent. On the other hand, technological advancements and R&D toward highly efficient biomimetic materials present new opportunities in the upcoming years.
According to the report published by Allied Market Research, the global biomimetic materials market generated $37.9 billion in 2020, and is projected to reach $65.9 billion by 2030, witnessing a CAGR of 5.7% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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The report offers detailed segmentation of the global biomimetic materials market based on materials, applications, and region.
Based on material, the biomimetic polymers segment held the highest market share in 2020, holding nearly two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the biomimetic ceramics & glass segment is estimated to register the highest CAGR of 6.4% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 6.6% during the forecast period.
Based on application, the medical segment held the largest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the defense segment is projected to register the highest CAGR of 7.0% from 2021 to 2030.
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Leading players of the global biomimetic materials market analyzed in the research include APC International, CeramTec, CTS Corporation, Kyocera Corporation, Lord Corporation, Noliac AS, Piezo Kinetics, TDK Corporation, Wright Medical Group, and Applied Biomimetic. The Aviation Industry Corporation of China, Ltd.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
The article discusses the growth and future scope of the biomimetic materials market from 2021 to 2030.
Expansion in healthcare technologies, AI, and automation are key drivers.
Asia-Pacific is projected to manifest the fastest CAGR during the forecast period.
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