Pune, March 08, 2023 (GLOBE NEWSWIRE) -- Xcellent Insights announces the release of the recent report "Nanocomposites Market Size & Share Report 2028- A Detailed Analysis of Emerging Trends and Future Growth Prospects". The global nanocomposites market size was USD 3410.55 million in 2021 and is expected to register a significant revenue CAGR of 9.10% during the forecast period. Key factors such as manufacturing transparent films and electrodes, growing demand for packaged food, and high usage of smart devices such as laptops, wearable devices, laptops, televisions, and other gadgets are expected to drive overall market growth during the forecast period. Get Sample PDF Copy of Report (Including Full TOC, List of Tables & Figures, and Chart): https://www.xcellentinsights.com/enquiry/sample/209358
Nanocomposites are heterogenous/hybrid materials produced by mixtures of polymers with inorganic solids at nanometric scale. One of its phase has nanoscale morphology like nanoparticles, lamellar nanostructure or nanotubes. These can be formed by blending inorganic nanoclusters, clays, metals, oxides, fullerenes or semiconductors with several organic polymers, biological molecules, sol-gel derived polymers and enzymes.
Nanocomposites have emerged as a better alternative to microcomposites and monolithics owing to unique properties such as resistivity against corrosion and chemicals, superior optical and magnetic properties along with high thermal and electronic conductivity. Carbon nanotubes, polymer-metal fiber composites, nanofiber, and graphene are some of the common nanocomposites widely used across food packaging, automobiles, construction, IT, and biomedical process.
Factors such as rapid urbanization, rising demand for nanocomposites across various sectors such as automotive, packaging, aviation, electronics and semiconductors, building and construction, and medical and healthcare, and increasing applications of polyamide nanocomposites due to better transparency, low permeability towards gas, water and solvents, high modulus and gas barrier properties are expected to drive global market growth going ahead.
However, high production and processing costs, dearth of skilled labor for handling complex processes and applications, and rising concerns about health safety and environment are some key factors expected to hamper global market growth during the forecast period.
Browse complete Report Summary with TOC here: https://www.xcellentinsights.com/reports/nanocomposites-market-209358
Key Companies Operating in the Market:
- Arkema SA
- BASF
- Cabot Corporation
- Elementis Specialties
- Inframat Corporation
- DuPont
- Foster Corporation
- Nanocor Incorporated
- Powdermet
- Showa Denko K.K
Nanocomposites Industry Recent Developments:
- In October 2020 Gnanomat, a Spain based nanotech company, focused on developing, manufacturing and commercializing advanced materials, announced the launch of two graphene-based nanocomposites, Graphene-Manganese Oxide and Graphene-Zinc Oxide.
- In June 2021, Gnanomat announced the launch of new graphene-based nanocomposite product that can be used in applications that require electrochemical glucose biosensors, catalytic/photocatalytic activity and antimicrobial activity.
- In February 2022, Goodfellow partnered with NanoRegMed to launch a new range of exclusive nanomaterials and nanocomposites. Some of the products include Reduced Graphene Oxide, Functionalized Graphene Oxide, Hastalex, and BioHastalex.
The global nanocomposites market has been segmented based on type, application, and region:
Market Segment by Type:
- Carbon Nanotube Nanocomposites
- Polymer Metal Fiber Composites
- Nanofiber Nanocomposites
- Graphene Nanocomposites
Graphene Nanocomposites Segment to Register Rapid Revenue CAGR:
The graphene nanocomposites segment is expected to register rapid revenue CAGR over the forecast period. Factors such as high usage of graphene nanocomposites across sectors such as electronics, semiconductor, automotive, packaging, biomedical, and building and construction, growing preference for graphene-based nanocomposites due to excellent mechanical, optical, thermal, electrical, and chemical properties, and rising investments in developing high-quality graphene nanocomposites are expected to drive segment revenue growth. Moreover, these graphene nanocomposites are widely used in high-performance transistors, sensors, biomedical systems, and solar cells.
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Market Segment by Application:
- Automotive
- Aviation
- Electronics and Semiconductors
- Building and Construction
- Medical and Healthcare
Electronics and Semiconductors Segment to Account for a Significantly Larger Revenue Share:
The electronics and semiconductors segment is expected to account for a significantly larger revenue share during the forecast period. This can be attributed to rapidly expanding electronics sector, growing demand for smart electronic devices, and high usage of graphene, carbon nanotubes, and nanofibers in the development of electronics.
Nanocomposites Market Segment by Region:
- North America (USA, Canada, Mexico)
- Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (Saudi Arabia, U.A.E, Egypt, Nigeria, South Africa, Rest of MEA)
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share between 2022 and 2029 owing to rapid advancements in nanocomposites, increasing industrialization, rising use of high-quality nanocomposites across various sectors such as medicine, building and construction, packaging, and electronics, and presence of leading nanocomposite manufacturers across the region. US, Canada, and Mexico are some of the largest revenue-generating countries in this region.
Highlights of the Report:
- Estimates 2022 to 2028 nanocomposites market current market trends and development trends
- Market dynamics along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the nanocomposites market
- Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
- Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
- Brief about impact of COVID-19 on the global nanocomposites market
Key Questions Addressed in the Report:
- What revenue CAGR is the global market expected to register during the forecast period?
- What is the expected market size of the global nanocomposites market between 2022 and 2028?
- What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
- What are some of the key challenges that the global market is expected to face during the forecast period?
- Which key players are expected to maintain their position in the global market?
- Which region is expected to account for largest revenue share over the forecast period?
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