Advanced Materials
The advanced materials industry has been observingtremendous growth since the last few years. Novel technologies offer manufacturers new ways to innovate, compete, and increase their profit margins even as they encounter several challenges,such as highprices, volatile raw material, and energy costs, stringent regulations, and other evolving risks. The high price is a critical challenge that players in the industry face. Nanomaterials, for instance, cost more than USD 1,000 per gram. High price hampers demand in price-sensitive applications, such as aerospace and defense, which is the largest consumer of advanced materials. The expenses associated with technologies, skilled manpower, R & D, and compliance in manufacturing add to the cost of advanced materials.
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