Global Nanocomposites Market Set to Reach USD 18.3 Billion by 2031, With a Sustainable CAGR Of 15.8% | Growth Market Reports

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Feb 27, 2023, 10:05 ET

PUNE, India, Feb. 27, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Nanocomposites Market by Type (Graphene, Nanoclay, Carbon Nanotubes, and Nanofiber), Material (Polymer [Inorganic/Organic, Inorganic/Organic Hybrid, and Polymer/Layered Silicate] and Non-polymer [Ceramic-Ceramic Nanocomposites, Ceramic Nanocomposites, and Metal Nanocomposites]), End-use (Packaging, Medical, Automotive, Aviation, Electrical & Electronics, Semiconductors, Coatings, Corrosion Protection, and Others), and Region: Size, Share, Trends, and Opportunity Analysis, 2023-2031", the market was valued at USD 5.6 billion in 2022 and is expected to reach USD 18.3 billion, expanding at a CAGR of 15.8% by the end of 2031. The market growth is attributed to the increasing applications of nanocomposites in the fields of packaging and biomedical.

Key Market Players Profiled in the Report

Arkema
PlasmaChem GmbH
Evonik Industries AG
ZYVEX TECHNOLOGIES
Celanese Corporation
Powdermet Inc.
Inframat Corporation
eSpin Technologies, Inc.
Cabot Corporation
Nanocyl SA

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include material, end use, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

Highlights on the Segments of the Nanocomposites Market

In terms of type, the global nanocomposites market is segmented into graphene, nanoclay, carbon nanotubes, and nanofiber. The carbon nanotubes segment is expected to expand at a rapid pace during the forecast period. Favorable electrical properties of high thermal & electrical conductivity of nanocomposites are expected to boost the carbon nanotube demand.

Based on material, the market is fragmented into polymer and non-polymer segments. The polymer segment is further subcategorized into inorganic/organic polymer, inorganic/organic hybrid, and polymer/layered silicate. The polymer segment is anticipated to expand at a sustainable CAGR, owing to the ductility of polymer matrix materials.

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On the basis of end-use, the market is segregated into packaging, medical, automotive, aviation, electrical & electronics, semiconductors, coatings, corrosion protection, and others. The packaging segment is expected to grow at a high CAGR in the coming years. This growth is attributed to the rising demand for antimicrobial packaging material.

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is expected to dominate the market during the forecast period, owing to the growing demand from the automobile sector.

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Key Takeaways from the Study:

Nanocomposites have composites dimensions lesser than 100 nanometers (nm) making up a phase, which is repeated in structures of one, two, or three patterns of phases that make up the material.
Thermal stability provided by nanocomposites makes them highly preferred packaging materials for food items.
Nanocomposites are manufactured through several techniques such as polymerization, electrospinning, laser sintering techniques, melt-mixing, and mixing which require skilled manpower for efficiently carrying them out.
Nanoclay applications in food & beverage packaging, paints & coatings, and the biomedical industry, are likely to increase the demand for nanocomposites in the coming years.
The use of Carbon nanotubes (CNT) has widened in optical devices, semiconductors, nanotechnology, and several branches of materials engineering, as it offers high tensile strength, low weight, and flexibility.
Nanocomposites are widely used in biomedical applications such as biomedical temperature sensors, biomedical pressure sensors, and biomedical refrigerators and freezers.
Growing use of polymer nanofillers as substitutes for multi-layered polymers in the form of molecules in low concentrations is enhancing usability.
Reducing corrosion in solar panels through the introduction of nanocomposites is a major growth opportunity for the nanocomposites market.
Increasing industrialization is expected to spur the market of Asia Pacific in the upcoming years.

Read 200 Pages Research Report with Detailed ToC on "Nanocomposites Market by Type (Graphene, Nanoclay, Carbon Nanotubes, and Nanofiber), Material (Polymer [Inorganic/Organic, Inorganic/Organic Hybrid, and Polymer/Layered Silicate] and Non-polymer [Ceramic-Ceramic Nanocomposites, Ceramic Nanocomposites, and Metal Nanocomposites], End-use (Packaging, Medical, Automotive, Aviation, Electrical & Electronics, Semiconductors, Coatings, Corrosion Protection, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023– 2031"

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Key Segments Covered

Type

Graphene
Nanoclay
Carbon Nanotubes
Nanofiber

Material

Polymer

Inorganic/Organic Polymer
Inorganic/Organic Hybrid
Polymer/Layered Silicate Hybrid

Non-polymer

Ceramic-Ceramic Nanocomposites
Ceramic Nanocomposites
Metal Nanocomposites

End-use

Packaging
Medical
Automotive
Aviation
Electrical & Electronics
Semiconductors
Coatings
Corrosion Protection
Others

Region

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

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