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Nanocomposites Market - By Material Type (Carbon Nanotubes, Metal Oxide, Nanofiber, Nanoclay, Graphene, Others), By Application (Packaging, Automotive, Electronics and Semiconductors, Coating, Aerospace & Defense, Energy & Others (Marine, Biomedical, Industrial) & By Region (North America, Europe, Asia Pacific, Latin America, Middle east and Africa) – Size, Share, Trends, Growth & Forecast to (2023-2028)

Published: March, 2023
ID: 9648
Pages: 175
Formats: report pdf report excel report power bi report ppt

Nanocomposites Market Size and Growth (2023-2028):

The Nanocomposites Market is determined to expand from USD 6.1 billion in 2022  to USD 10.5 billion by 2028, with a CAGR of about 18.0% over the anticipated period of 2023-2028

Packaging, aerospace & defense, automotive, and electronics & semiconductor applications are providing high demand for growth in the nanocomposites market. The polymer nanocomposites market is predicted to reach above $5,100 million by 2020, growing at a significant growth rate.

In the food packaging industry, nanocomposites are increasingly used because of their low permeability to gases, water, and hydrocarbons, specifically in the packaging of cheese, confectionery, processed meat, boil-in-the-bag food, and cereals. In recent times, nanocomposites have been preferred on account of their various abilities like high tensile strength, better optical and magnetic properties of matter, high resistance to corrosion, and high thermal and electronic conductivity for the ability of electric current to flow through a material. These nanocomposites in various industries have significant characteristics resulting in increased demand.

The worldwide industry is anticipated to grow majorly over the outlook period on its large range of applications including building and construction, automotive, electronics and electrical, IT, energy, and packaging. Tissue engineering, wound dressings, cancer therapy, stem cell therapy, cardiac prosthesis, and enzyme immobilization are used in the process and for biomedical purposes.

Drivers in the Nanocomposites Market:

The main trend identified in the global nanocomposites market is the growing demand for these materials in end-user industries like semiconductors and electronics, power generation, and manufacturing. These materials are extensively employed for the making of substrates, parts, and structures in semiconductor foundries. In semiconductor component manufacturing, these materials offer benefits such as durability, miniaturization, and improved accuracy. For these advantages, the application of these materials is growing across semiconductor and electronics applications, including the production of solid polymer electrolytes, circuit structure design, and the development of thin-film capacitors. Therefore, it is evident that the growth of nanocomposites is directly related to verticals like semiconductors.

Moreover, the increasing penetration of these materials in the semiconductor foundry (produces metal castings) sector in emerging areas of APAC is likely to create immense growth potential for this business. In recent years, the semiconductor foundry sector in nations like China and Taiwan has witnessed significant growth. Also, in the coming years, Chinese and Taiwanese foundries will deploy nanoscale-level composites in semiconductor manufacturing because of superior electrical or thermal conductivity, and mechanical properties. Polymer production is concentrated on raw materials like glass fibers, clay, ceramics, carbon nanotubes, and other fillers that are used in the manufacturing of the product, which will offer lucrative development opportunities.

Restraints in the Nanocomposites Market:

On the flip side, the complex manufacturing processes, high costs, and high-level technology of skills required for handling applications of nano-level composites are considered serious limitations for the expansion of this business. Also, the concerns related to reliability, flexibility, and others are impeding the growth of this business.

NANOCOMPOSITES MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022-2028

Base Year

2022

Forecast Period

2023-2028

CAGR

18.0%

Segments Covered

  • By Application
  • By Type
  • By Region

Various Analyses Covered

Global, Regional and country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

 

Market Leaders Profiled

  • Zyvex Technologies
  • Inframat Corporation
  • Powdermet Inc
  • DuPont
  • DSM
  • BASF
  • Plasma X
  • Plasmachem GmbH
  • InMat
  • eSpin Technologies
  • Arkema Inc

 

Nanocomposites Market

Nanocomposites Market Segmentation:

Nanocomposites Market - By Material Type:

  • Carbon Nanotubes
  • Metal oxide
  • Nanofiber
  • Nanoclay
  • Graphene
  • Others

Carbon nanotubes are extremely employed in electronics & semiconductor applications due to their desirable electrical properties on a larger basis. They are considered a viable replacement for the Internet of Things transparent conductors in electronics applications. Fabricated as transparent conductive films are thin films of optically transparent and electrically conductive material, carbon nanotubes can be used as a highly conductive, transparent, and cost-efficient possibility in flexible displays and touch activities

Nanocomposites Market - By Application:

  • Packaging
  • Automotive
  • Electronics and Semiconductors
  • Coating
  • Aerospace & Defense
  • Energy
  • Others (Marine, Biomedical, Industrial)

In 2018, the packaging industry dominated the global nanocomposites market with increasing calls from applications, like food & beverage, pharmaceuticals, and electronics devices. This increase in demand is mostly due to the improved physical, mechanical, and lightweight properties of polymer nanocomposites.

Nanocomposites Market – By Region:

  • North America

  • Europe

  • Asia Pacific 

  • Latin America 

  • Middle East & Africa 

In the nanocomposites market, Asia Pacific is the largest and the fastest-growing in terms of volume. Packaging is an important application of nanocomposites in the region. The most important factor for the growth of the APAC nanocomposites market is the presence of a large number of manufacturers and application industries in this area. In the Asia Pacific, the advanced nanocomposites sector coupled with the rising call for these products in the automotive and electronics & semiconductor applications is determined to accelerate demand in the global and local nanocomposites market. Manufacturers are investing in new material types and R&D activities for the nanocomposites market in China, which is the most crucial area in the Asia Pacific market.

The Asia Pacific is also predicted to record substantial growth, garnering a growth rate of over 24% during the anticipated time.  Besides, the hike in consumer disposable income and lifestyle are likely to promote the need for these in the Asia Pacific market in foreseen years.

Top Market Players in the Nanocomposites Market:

  1. Zyvex Technologies

  2. Inframat Corporation

  3. Powdermet Inc.

  4. DuPont

  5. DSM

  6. BASF

  7. Plasma X

  8. Plasmachem GmbH

  9. InMat

  10. eSpin Technologies

  11. Arkema Inc

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