Pune, India, Feb. 22, 2023 (GLOBE NEWSWIRE) -- The global nanocomposites market size was USD 4.32 billion in 2019 and is projected to reach USD 14.34 billion by 2027, exhibiting a CAGR of 16.3% during the forecast period. The booming food and beverage industry is expected to spur lucrative opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Nanocomposites Market Size, Share, Growth, and Regional Forecast, 2020-2027.”
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The Report Lists the Key Companies in the Nanocomposites Market:
- Arkema S.A. (France)
- Evonik Industries AG (Germany)
- Showa Denko K.K. (Japan)
- Cabot Corporation (U.S.)
- Zyvex Technologies Inc. (U.S.)
- Nanocyl SA (Belgium)
- RTP Company (U.S.)
- Nanophase Technologies Corporation (U.S.)
- Nanocor Inc. (U.S.)
- DuPont (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 16.3 % |
| 2027 Value Projection | USD 14.34 Billion |
| Base Year | 2021 |
| Nanocomposites Market Size in 2019 | USD 4.32 Billion |
| Historical Data | 2016-2018 |
| No. of Pages | 90 |
| Segments Covered | By Type, End-user, and Regional Insights |
| Nanocomposites Industry Growth Drivers | Packaging applications to account for the largest share of the nanocomposites market |
| The demand for innovative packaging materials is increasing to meet the need for higher-quality food with safety, sustainability, and convenience |
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Market Driver:
Flourishing Packaging Industry to Support Business Development
The nanocomposite market is driven by various factors, including the growing demand for lightweight and high-strength materials that can offer improved mechanical, electrical, and thermal properties. Here are some of the key drivers of the nanocomposites market:
- Increasing demand from end-use industries: The nanocomposite market is driven by increasing demand from various end-use industries such as automotive, aerospace, electronics, construction, and packaging. These industries require materials that can offer improved properties such as strength, durability, and thermal stability, which can be provided by nanocomposites.
- Growing need for fuel-efficient vehicles: The demand for nanocomposites is also driven by the growing need for lightweight and fuel-efficient vehicles. Nanocomposites can help reduce the weight of vehicles, thereby increasing their fuel efficiency.
- Technological advancements: The development of new manufacturing technologies and processes has enabled the production of high-quality nanocomposites at a lower cost. This has led to the increased adoption of nanocomposites in various applications.
- Environmental regulations: The growing focus on reducing carbon emissions and promoting sustainable development has led to the increased use of nanocomposites in various industries. Nanocomposites can help reduce the weight of vehicles, which can lead to lower fuel consumption and carbon emissions.
- Advancements in healthcare: The healthcare industry is also driving the demand for nanocomposites, as they can be used in various medical applications such as drug delivery, tissue engineering, and medical implants. Nanocomposites can help improve the efficacy of drugs and reduce the risk of infections.
Overall, the nanocomposites market is expected to witness significant growth in the coming years, driven by the increasing demand from various end-use industries and technological advancements.
Market Scope:
The nanocomposites market has a broad scope as it finds applications in various end-use industries such as automotive, aerospace, electronics, construction, packaging, and healthcare. Nanocomposites are composite materials in which nanoparticles or nanofillers are dispersed in a polymer matrix or a metal matrix, resulting in materials with unique and improved properties. Nanocomposites are classified based on the type of matrix material used such as polymer nanocomposites, metal matrix nanocomposites, ceramic matrix nanocomposites, and others.
In the automotive industry, nanocomposites are used to manufacture lightweight and fuel-efficient vehicles, while in the aerospace industry, they are used to manufacture lightweight and high-strength aircraft components. In the electronics industry, nanocomposites are used to manufacture high-performance electronic devices, while in the healthcare industry, they are used to manufacture medical implants and drug delivery systems.
Overall, the nanocomposites market has a broad scope and is expected to witness significant growth in the coming years due to increasing demand from various end-use industries and the development of new manufacturing technologies and processes.
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Regional Analysis:
Inflated Demand for Electronics to Facilitate Growth in Asia Pacific
The nanocomposites industry is expected to witness significant growth in the coming years due to increasing demand from various end-use industries such as automotive, aerospace, and electronics. The market is also driven by the growing need for lightweight and high-strength materials that can offer improved mechanical, electrical, and thermal properties.
Regional analysis of the nanocomposites market can provide insights into the market trends and opportunities in different parts of the world. Here is a brief regional analysis of the nanocomposites market:
- North America: North America is expected to dominate the nanocomposites market due to the presence of major end-use industries such as automotive, aerospace, and electronics in the region. The demand for nanocomposites is also driven by the growing need for lightweight and fuel-efficient vehicles, which require high-performance materials.
- Europe: Europe is another significant market for nanocomposites due to the increasing demand for advanced materials from the automotive and aerospace industries. The region is also witnessing growing demand for nanocomposites from the construction and packaging industries.
- Asia Pacific: Asia Pacific is expected to witness significant growth in the nanocomposites market due to the presence of emerging economies such as China and India. The region is also witnessing increasing demand for nanocomposites from the automotive, electronics, and construction industries.
- Middle East and Africa: The Middle East and Africa are also expected to witness significant growth in the nanocomposites market due to the growing demand for advanced materials from the oil and gas industry. The region is also witnessing increasing demand for nanocomposites from the construction and packaging industries.
- Latin America: Latin America is expected to witness moderate growth in the nanocomposites market due to the presence of major end-use industries such as automotive and construction. The region is also witnessing increasing demand for nanocomposites from the packaging industry.
Overall, the nanocomposites market is expected to witness significant growth in the coming years, driven by increasing demand from various end-use industries across different regions.
Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Collaboration, New Product Launches, and Mergers & Acquisitions
- Global Nanocomposites Industry Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Polymer
- Metal
- Ceramic
- Others
- By Product (Value)
- Carbon Nanotubes (CNT)
- Nanoclay
- Graphene
- Nanofiber
- Others
- By Application (Value)
- Packaging
- Electrical & Electronics
- Automotive
- Aerospace & Defense
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Type (Value)
TOC Continued....!
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