Nanoclay Market to Exceed US$3.3 Billion by 2023, Driven by Demand From Packaging, Coatings, Aerospace, and Marine Industries: Transparency Market Research

06 Nov, 2015, 08:30 ET from Transparency Market Research Pvt. Ltd

ALBANY, New York, November 6, 2015 /PRNewswire/ --

Transparency Market Research has published a new market report titled "Nanoclay (Kaolinite, Smectite, and Others) Market for Packaging, Flame Retardants, Automotive, Paints & Coatings, and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015-2023." According to the report, the global nanoclay market was valued at US$1.22 billion in 2014 and is anticipated to reach US$3.37 billion in 2023, expanding at a CAGR of 12.0% between 2015 and 2023.

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Nanoclays are mineral silicate nanoparticles that are extensively used in industries such as automotive, packaging, paints & coatings, flame retardants, aerospace, and marine. Commonly used nanoclays available in the market include montmorillonite, bentonite, kaolinite, halloysite and hectorite are a few.

In terms of volume, North America is projected to be the largest regional market for nanoclay during the forecast period. The U.S. accounted for the largest share of the nanoclay market in this region, led by rising demand in packaging, coatings, aerospace, and marine industries. Increasing usage of nanocomposites in various applications such as packaging, automotive, paints & coatings, and flame retardants is expected to augment the nanoclay market in North America in the near future.

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Asia Pacific was the second-largest regional market for nanoclays in 2014. It is anticipated to be the fastest growing regional segment during the forecast period. In terms of unit production, the automobile industry in China has been the largest since the past few years. Additionally, the automotive industry in the country has been expanding significantly. Thus, growth in the automotive industry owing to rising disposable income of consumers is estimated to drive the demand for nanoclays in Asia Pacific in the near future.

The nanoclay market in Europe is projected to expand significantly during the forecast period. Countries in Europe such as Germany and the U.K. were the major consumers of nanoclay in 2014. Stringent regulations to curtail carbon emissions in Europe and high demand for nanoclay in water treatment and coatings applications are likely to propel the nanoclay market in Europe during the forecast period.

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Brazil was the fourth largest (after China, the U.S., and Japan) automotive market across the globe in 2014. Major manufacturers such as Fiat, Toyota, Volkswagen, and GM plan to establish manufacturing facilities in Brazil in the near future. Automobile manufacturers employ nanoclay to produce interior and exterior body parts of vehicles. This, in turn, boosts the demand for nanoclays in Latin America The nanoclay market in Argentina and Venezuela is likely to expand significantly during the forecast period. Research and development activities have increased significantly in these countries. This is anticipated to be the primary factor for the growth of the nanoclay market in Latin America. Improvement in economic conditions in Middle East & Africa owing to increase in infrastructural activities is projected to augment the nanoclay market in the region.

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Key players in the nanoclay market include Elementis Specialties Inc, Kunimine Industries Co. Ltd, UBE Industries, Mineral Technologies Inc., RTP Co., and Techmer PM.

The report segments the nanoclay market as follows: 

Nanoclays Market - Product Segment Analysis 

  • Kaolinite
  • Smectite
  • Others (Including vermiculite, illite, etc.)

Nanoclays Market - End-user Analysis 

  • Packaging
  • Flame retardants
  • Automotive
  • Paints & coatings
  • Others (Including aerospace, marine, personal care, etc.)

Nanoclays Market - Regional Analysis 

North America 

  • U.S.
  • Rest of North America

Europe 

  • France
  • U.K.
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific 

  • China
  • Japan
  • ASEAN
  • Rest of Asia Pacific

Latin America 

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA) 

  • GCC
  • South Africa
  • Rest of MEA

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About Us 

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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