ROCKVILLE Md., Feb. 16, 2022 (GLOBE NEWSWIRE) -- As per the latest polymer nanocomposites industry analysis by Fact.MR, the global market is projected to grow from US$ 5 Bn in 2020 to US$ 9 Bn by 2031, surging at a CAGR of 16%. Polymer nanocomposites are multiphase materials that contain dispersion of nano-sized filler materials such as carbon nanotubes, nanoclays, metal oxides, and ceramics among others.
“Increasing applications of polymer nanocomposites in packaging and aerospace industries will heighten the remuneration of manufacturers over coming years,” says a Fact.MR analyst.
Demand for clay-based nanocomposites is set to accelerate at an impressive CAGR of 20% across the assessment period of 2021 to 2031. Asia Pacific emerged as a lucrative market for polymer nanocomposites, and the region is also expected to maintain its dominance over the forecast period. Key countries such as Japan, India, and China are propelling the growth of nanocomposites in the Asia Pacific region.
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The growing automotive & packaging industries, superior mechanical & physical properties, and infrastructural growth in emerging economies are the key factors driving the growth of the polymer nanocomposites market. However, environmental & technical barriers and high production cost hamper the growth of this market.
- The carbon nanotube segment dominated the market, and is expected to grow during the forecast period, owing to the increasing applications across various end-user industries.
- increasing demand for flame retardant polymer nanocomposites is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Competitive Landscape of Polymer Nanocomposites Market
This report also includes the leading manufacturers’ profiles such as BYK Additives (Germany), 3D System (U.S.), Foster Corporation (U.S.), Industrial Nanotech (U.S.), Hybrid Plastics Inc. (U.S.), Inframat Corporation (U.K.), InMat Inc. (U.S.), Nanocor Incorporated (U.S.) and others.
- The Arkema Group and RTP Company are leading companies, which have adopted expansion and product launch as their key business strategies.
- Alpine Advanced Materials announced to commercially license and sell thermoplastic nanocomposites developed by Lockheed Martin Aeronautics in 2019. This new material will be used to replace many metal parts in the seats, interiors, galleys, and trays in an aircraft.
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Country-wise Analysis of Polymer Nanocomposites Industry
The polymer nanocomposites market in the U.S was estimated at US$ 1.5 Bn in the year 2020.
High demand is attributable to huge amount of capital investments in building infrastructure for carrying out research activities in the field of polymer nanocomposites.
South Korea and Japan are the two leading polymer nanocomposite manufacturing countries in Asia Pacific.
Japan accounted for around 50% of polymer nanocomposite revenue share alone in the Asia Pacific region.
Key Segments Covered in Polymer Nanocomposites Industry Research
By Type
- Carbon Nanotubes
- Metal Oxide
- Nanofiber
- Nanoclay
- Graphene
By Application
- Polymer Nanocomposites Used in Packaging
- Polymer Nanocomposites Used in Automotive
- Polymer Nanocomposites Used in Electronics & Semiconductors
- Polymer Nanocomposites Used in Aerospace & Defence
- Polymer Nanocomposites Used in Coatings
- Polymer Nanocomposites Used for Energy
- Polymer Nanocomposites Used in Sports & Healthcare
By Fiber
- Thermoplastics
- Thermosetting
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Polymer nanocomposites are used in the automotive industry to improve the durability of components such as headlamp covers, engine covers, tires, and interior and exterior components. Increase in demand for weight reduction in vehicles to enhance fuel efficiency has further driven demand for nanocomposites.
Key Points Covered in Polymer Nanocomposites Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Assessment by Product Grade / Purity / Formulation Standards
- Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
- Certifications and Compliance Requirements
- Analysis of Supply Contracts, Avg. Consumption, Potential for Direct & Indirect Sales
- COVID-19 Impact on Demand for Polymer Nanocomposites and How to Navigate
- Recommendation on Key Winning Strategies
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