The basic materials sector comprises of industries that deal with wholly or partially unprocessed substances used for manufacturing finished products. Basic materials include forestry products, metals, plastic, fibres, chemical products and others. These are used in several industries such as oil and gas, automobile, pharmaceuticals, aerospace, construction, mining and packaging. The key segments of basic materials sector are construction materials, metals, paper, plastic and wood. The global market for basic materials is growing with rapid industrialization & urbanization and rising demand of consumer goods.
Factors such as better toughness, durability, hardness and elasticity of advanced materials have enabled them to drive various innovations such as fuel cell vehicles, nanomaterials activated carbons and others. Advanced materials include nanomaterials, smart materials, lightweight materials, biomaterials and superconducting materials. These materials have their applications in several industries such as automotive, medical & healthcare, military & defence, aerospace and energy. The energy industry is one of the fastest growing end-user industry for advanced materials due to their growing demand in solar and wind energy segments.
The basic materials sector has also been influenced by the rising concerns over environmental pollution and depleting energy resources. As a result, it is witnessing the emergence of green chemicals and energy efficient materials. Green chemicals are renewable chemicals free from harmful components. These chemicals are majorly preferred in construction industry owing to several advantages such as increased durability; chemical, climate, fire and heat resistance; strength, among others.
Energy efficient materials are largely used in the construction of buildings to improve their energy efficiency through thermal insulation, insulation of windows and efficient lighting systems. The energy efficient materials include fiberglass, mineral wool, polystyrene and others. Fiberglass is the most common and largely used energy efficient material.ASDReport.com has a collection of reports on basic materials market. The reports cover various topics and products related to basic materials like iron ore, inorganic materials, metallic materials, organic materials, polymers, coal and much more.