The global Polymer Nanocomposites market is forecast to reach USD 14.58 Billion by 2027, according to a new report by Reports and Data. The demand for polymer nanocomposites is anticipated to see significant growth due to growth in end-use applications, including aerospace engineering, automobiles industry, construction, renewable energy sources, defense, and food. Increasing demand for products in the global packaging and automotive sectors will be the primary reason for the development of the market over the forecast period. The product enhances the characteristics of artificial plastics like the features of gas barriers, tensile stability, electrical conductivity, flame retardance, rheology, and more. Such products are slowly substituting heavy metals used in various industries, such as aerospace and the automotive sector.
Top Companies Operating in the Global Polymer Nanocomposites Market:
Arkema, RTP Company, Nanocyl SA, Unitika, Evonik, Minerals Technologies, Hybrid Plastics, Nylon Corporation of America, Ad-Nano Technologies, and 3M.
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Further key findings from the report suggest
- The automobile aerospace segment dominated the world industry in 2019, with a share of about 30.88%. The section is expected to expand at a CAGR of 16.6% from 2020 to 2027 further. It can be expected to create lucrative opportunities for polymer nanocomposites in the industry due to the increasing demand for lightweight automobiles.
- Owing to its sufficiently advanced distribution network industries, powerful analysis capabilities, coupled with a highly qualified workforce and increasing RD initiatives, the U.S. is one of the prominent market nations. Developing applications and strong demand are encouraging producers to focus on new technologies for market expansion.
- The Asia Pacific driven by China, India, and Japan's production may record improvements in revenue with a CAGR of 16.3% by 2027 related to the growing infrastructure and increasing demands for high-quality composites in the region. Rapid urbanization along with raw material availability and cheap labor has led to considerable expansion in the automobile industry, which is the main driving factor.
- Manufacturers make the distinction of their polymers based on quality and price, taking into account characteristics such as quality and level of purity. The players are focusing on developing multifunctional applications.
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Polymer Nanocomposites Market Segmentation
Polymer Outlook (Revenue, USD Billion; 2017-2027)
- Epoxy Resin
- Polyamide
- Polyethylene
- Polypropylene
- Others
Nanomaterial Outlook (Revenue, USD Billion; 2017-2027)
- Carbon Nanotubes
- Metal Oxide
- Nanofiber
- Nano clay
- Graphene
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Automotive Aerospace
- Electrical Electronics
- Packaging
- Biomedical
- Paints Coatings
- Others
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