Selbyville, Delaware, July 03, 2024 (GLOBE NEWSWIRE) -- Nanoclays Market is projected to be valued at over USD 2.1 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The increasing demand for lightweight, high-strength materials in automotive and aerospace sectors is driving the market growth. The enhanced barrier properties of nanoclays make them ideal for packaging applications, subsequently driving their adoption in the food and beverage sector. The growing environmental concerns are also accelerating the product utilization in water treatment and pollution control.
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Significant advancements in nanotechnology and rising R&D investments are facilitating innovative applications across various industries. The construction sector also benefits from nanoclays for improved durability and sustainability of materials. As per data from the Associated General Contractors of America (AGC), the U.S. construction sector creates approximately $2.1 trillion worth of structures each year. This expansion of the construction sector is likely to favor the industry development.
Kaolinite segment to depict substantial gains
The kaolinite product segment is estimated to hold sizeable share of the nanoclays market by 2032, owing to its widespread use in ceramics, paper, and paint industries to offer excellent properties like high brightness and fine particle size. With its cost-effectiveness and natural abundance, kaolinite boast of applications in pharmaceuticals and cosmetics for its non-toxic and gentle nature. The advancements and R&D in nanotechnology are further improving the product performance for expanding its usage in advanced material applications.
Growing demand in water treatment
Nanoclays market from the water treatment application segment is projected to expand at noticeable rate between 2024 and 2032. This is on account of the exceptional adsorption properties of nanoclays, making them highly effective in removing contaminants and heavy metals. The increasing environmental regulations and the rising need for sustainable water management solutions is accelerating the consumption of nanoclays for the treatment of water. The growing scarcity of clean water and the rising awareness of water pollution issues is further accelerating the segment growth.
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Rising consumption in Europe
Europe nanoclays market is poised to showcase strong growth from 2024 to 2032, driven by the increasing demand in automotive and aerospace sectors for lightweight, high-strength materials. The influx of environmental regulations is promoting the product use in sustainable packaging and water treatment applications across the region. The advanced R&D and strong investments in nanotechnology are supporting innovation and new applications. The robust construction sector is also positively influencing the demand for nanoclays, owing to its enhanced material properties and durability. Moreover, the rising awareness of environmental sustainability is spurring the regional product deployment.
Nanoclays Market Participants
Some of the leading firms operating in the nanoclays industry include Attogene corporation, Evonik degussa gmbh, Kowa company ltd, BASF SE, Elementis plc, Laviosa corporate, Nanografi nano technology, Huntsman international LLC, Nanoshel llc, and Mineral technologies. These industry players are engaging in mergers & acquisitions as well as new agreements and partnerships to gain a strong foothold in the industry. For instance, in May 2023, DKSH extended its distribution agreement with Elementis, a well-known specialty additives producer, to enhance its personal care applications in the Netherlands.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
