Dublin, May 07, 2024 (GLOBE NEWSWIRE) -- The "Nanocomposites - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Nanocomposites Market to Reach $26.8 Billion by 2030
The global market for Nanocomposites estimated at US$9.5 Billion in the year 2023, is projected to reach a revised size of US$26.8 Billion by 2030, growing at a CAGR of 15.9% over the analysis period 2023-2030.
Recent market activity in nanocomposites sets the stage for a comprehensive market overview and outlook. In 2024, global key competitors share insights into the competitive landscape, categorized by varying market presence levels. Strong demand for reinforced plastics drives interest in nanofiller-reinforced polymer nanocomposites, particularly in efficient and eco-friendly packaging.
Nanoclay, one of the segments analyzed in the report, is expected to record a 17.3% CAGR and reach US$10.7 Billion by the end of the analysis period. Growth in the Carbon Nanotubes segment is estimated at 18.6% CAGR for the next 7-year period.
Nanocomposites find significant traction in food packaging, notably in beverage packaging. In the automotive industry, the focus on lightweighting propels demand for nanocomposite plastic components. Stringent fire safety regulations further bolster opportunities for nanocomposites as flame retardants.
Additionally, nanocomposites show promise in energy storage and biomedical applications, particularly in bionanocomposites. The quest for innovative electronic materials fuels opportunities in electronics and communications, with graphene emerging as a bright spot. However, challenges such as cost, scalability, and reliability pose hurdles to market growth, warranting thorough review and strategic planning.
The U.S. Market is Estimated at $2.9 Billion, While China is Forecast to Grow at 15.1% CAGR
The Nanocomposites market in the U.S. is estimated at US$2.9 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$4.5 Billion by the year 2030 trailing a CAGR of 15.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.3% and 13.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $9.5 Billion |
| Forecasted Market Value (USD) by 2030 | $26.8 Billion |
| Compound Annual Growth Rate | 15.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Developments in Novel Materials Research & Innovation Provides the Platform for Growth of Nanocomposites
- Recent Market Activity
- Nanocomposites: Market Overview
- Market Outlook
- Nanocomposites - Global Key Competitors Percentage Market Share in 2024 (E)
- Global Economic Update
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Strong Demand for Reinforced Plastics Fuels Interest in Nanofiller-Reinforced Polymer Nanocomposites
- Strong Focus on Efficient & Environment Friendly Packaging Fuels Opportunities for Nanocomposites
- Nanocomposite Materials for Food Packaging Applications
- Beverage Packaging: The Largest End-User of Nanocomposites in the Food Packaging Industry
- Focus on Automotive Lightweighting Spurs Demand for Nanocomposite Plastic Component & Parts
- Stringent Fire Safety Regulations & Growing Interest in Fire Proofing Chemicals Spur Opportunities for Nanocomposites as Flame Retardants
- Tracing Opportunities for Nanocomposites in the Rapidly Evolving Field of Energy Storage
- Bionanocomposites to Witness Spectacular Gains in Biomedical Applications
- Demand for Innovative New Electronic Materials to Power Next Generation Electronics Spurs Strong Opportunities for Nanocomposites in the Electronics & Communications Industry
- Graphene Represents Bright Spot in Nanocomposites Market
- Challenges to Growth in the Market: A Review
- Cost
- Scalability
- Reliability, Durability and Repeatability
FOCUS ON SELECT PLAYERS(Total 53 Featured)
- 3M (USA)
- Arkema Group (France)
- BASF SE (Germany)
- Cabot Corporation (USA)
- DSM (USA)
- DowDuPont, Inc. (USA)
- Elementis Specialties Inc. (USA)
- eSpin Technologies, Inc. (USA)
- Evonik Industries AG (Germany)
- Foster Corporation (USA)
- Hybrid Plastics, Inc. (USA)
- Inframat Corporation (USA)
- InMat, Inc. (USA)
- Nanocor, Inc. (USA)
- Nanocyl S.A. (Belgium)
- Nanophase Technologies Corporation (USA)
- Nyacol Nano Technologies, Inc. (USA)
- Powdermet, Inc. (USA)
- RTP Company (USA)
- Showa Denko K.K. (Japan)
- TNO (The Netherlands)
- Unitika Ltd. (Japan)
- Zyvex Technologies (USA)
For more information about this report visit https://www.researchandmarkets.com/r/82o7ei
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