Nanocomposites Market Size is Hit USD 4.16 Billion at a CAGR of 15.9% by 2027

 Increasing demand from packaging, automotive, construction sector as well as supportive government regulations is driving the demand for the market.

The Global Nanocomposites Market is projected to reach market revenue of USD 13.64 billion in 2027. The increasing demand for such materials from the modern packaging industry, automotive industry, and government regulations favoring the usage of such products is expected to drive the market during the forecast period.

Nanocomposites are solid materials that have multiple phases of nanoscale dimensions and are mainly of three types – ceramic, metal, or polymer matrix. They possess properties like flexibility, transparency, high thermal, and electrical conductivity. There is a huge demand for nanocomposites in the food packaging industry mainly because they provide resistance from gases, water, and other hydrocarbons. They are also easily recyclable, making it an appropriate material for usage in the packaging industry. They also provide high tensile strength and thus finds widespread usage in the manufacturing of automobile components. Rapid industrialization around the world has led to an increase in construction activities. The construction sector being one of the main consumers of nanocomposites, is largely contributing to the market’s growth. Apart from these, they also find applicability in the electronics and semiconductor industry due to their high thermal and electrical conductivity. Government regulations supporting the usage of nanocomposites in food packaging are a major driver for the market, especially in Europe.

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Top Leading Players: Nanocor Inc., Zyvex Technologies, Du Pont De Nemours, Arkema Inc., Powdermet Inc., Nanophase Technologies Corporation, Unidym Inc., Nanocyl S.A., Inframat Corporation and Evonik Industries AG.

Further Key Finding from the Report Suggestion:

·         Nanoclay product holds a considerable market share because of its demand from the packaging and automotive sector.

·         The polymer matrix structure is used in multi-walled carbon nanotubes, which is witnessing high demand from end-user industries and thus augmenting the segment’s growth.

·         The automobile sector is one of the major consumers of nanocomposites primarily due to the usage of nanocomposites in manufacturing of various automobile components.

·         European nanocomposites market is growing at a steady pace due to the presence of a large number of automobile manufacturers in this region.

·         There have been a number of new product launches in the market, amongst which Zyvex Nanotube Technology by Zyvex Technologies, RESOMET Composite Polymers by Evonik Industries AG require special mention.

·         In March 2017, Evonik Industries AG, along with Forward Engineering established a joint venture named VESTARO GmbH in order to develop composite solutions for the production of fiber composite components for automobile industry.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Nanocomposites market is segmented into:

Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

·         Carbon Nanotubes

·         Nanoclay

·         Metal Oxide

·         Nanofiber

·         Graphene

·         Others

Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

·         Ceramic-matrix

·         Metal-matrix

·         Polymer-matrix

·         Magnetic

Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)

·         Packaging

·         Automotive

·         Aviation

·         Electronics & Electrical

·         Military

·         Construction

·         Biomedical

·         Others

Regional Outlook:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

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