Nanocomposites Market Size and Growth Analysis With Leading participants - Nanocor Inc., Zyvex Technologies, Du Pont De Nemours, and more, by Reports And Data
The Global Nanocomposites Market was valued at USD 4.16 billion in 2019 and is projected to reach USD 13.64 billion in terms of remunerations, delivering a CAGR of 15.9% through 2027. The market growth is driven by growing product demand for extensive applications across the automotive, construction, and modern packaging industries.
Nanocomposites are heterogeneous materials that incorporate nano-sized particles into a matrix of a standard material, which can be categorized mainly under three types –metal, polymer, and ceramic matrix. Nanocomposites can dramatically improve properties like electrical conductivity, flame retardancy, chemical resistance, thermal stability, optical clarity, surface appearance, decreased water, hydrocarbon & gas permeability, along with enhanced mechanical properties like modulus, dimensional stability, and strength.
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Owing to beneficial properties like resistance from moisture, water, gases, and other hydrocarbons, nanocomposites are experiencing high demand from the food packaging industry. The recyclable properties of the product make them ideal for food packaging applications. Various industries, including electronic devices, food and beverage, and pharmaceuticals, are creating massive demand for polymer nanocomposites on account of their superior physical and mechanical properties. The high tensile strength of nanocomposites is resulting in extensive product adoption for the manufacturing of automobile components. A similar trend in product consumption across various industry verticals may supplement polymer nanocomposites market share over the projected timeframe.
The building & construction sector is one of the major consumers of nanocomposites. Rapid urbanization and industrialization leading to a rise in construction activities across the globe will positively impact nanocomposites industry growth. Apart from construction applications, the product is extensively used in the electronics & semiconductor industry due to its high electrical and thermal conductivity. Governments across various countries are promoting the usage of nanocomposites. This may also boost product proliferation through 2027. However, the lack of technological advancements to optimize the production process may hinder industry growth.
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Based on product type, the Metal-Matrix segment is forecast to account for 37% of the nanocomposites market share by 2027. Metal-Matrix products are experiencing high demand owing to their high tensile strength and electrical conductivity. Carbon Nanotubes, a metal-matrix nanocomposite, is gaining major traction in this segment due to its widespread usage in applications, including antennas of radios, hydrogen fuel cells, and commercial electric motors, among others.
Geographically, the Asia Pacific region accounted for the largest share of the global nanocomposites market in 2019 and is forecast to garner a major revenue share over the analysis period. The growth can be attributed to the expanding packaging industry and the presence of a large number of nanocomposite manufacturers in this region. Additionally, China is the hub of electronic products and automobile manufacturers and is, therefore creating major opportunities for regional industry growth. The country is the largest consumer of nanocomposites in the Asia Pacific region and is expected to invest heavily in novel materials and R&D of nanocomposites in the projected timeframe.
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Key players operating in the Nanocomposites market:
- Nanocyl S.A.
- Zyvex Technologies
- Nanocor Inc.
- Du Pont De Nemours
- Powdermet Inc.
- Arkema Inc.
- Nanophase Technologies Corporation
- Evonik Industries AG
- Unidym Inc.
- Inframat Corporation
Nanocomposites Market: Segmentation:
For the purpose of this report, Reports and Data has segmented the global Nanocomposites Market on the basis of Product, Type, Application and region:
Product Outlook (Revenue: USD Billion; 2017-2027)
- Carbon Nanotubes
- Nanoclay
- Metal Oxide
- Nanofiber
- Graphene
- Others
Type Outlook (Revenue: USD Billion; 2017-2027)
- Ceramic-matrix
- Metal-matrix
- Polymer-matrix
- Magnetic
Application Outlook (Revenue: USD Billion; 2017-2027)
- Packaging
- Automotive
- Aviation
- Electronics & Electrical
- Military
- Construction
- Biomedical
- Others
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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