Polymer Nanocomposites Market Size By Polymer (Epoxy Resin, Polyamide, Polyethylene, Polypropylene), By Nanomaterials (Nanoclays, Carbon Nanotubes, Nanofibers, Nano-oxides), By End-user Industry (Automotive & Aerospace, Electrical & Electronics, Packaging, Biomedical, Paints & Coatings), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, The Nordic Countries, Russia, China, Japan, South Korea, Singapore, Taiwan, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Israel), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Published Date: Jul 2019 | Report ID: GMI3892 | Authors: Kiran Pulidindi, Hemant Pandey Report Format: PDF
Polymer Nanocomposites Market size was estimated over USD 7 billion in 2018 and the industry will grow by a CAGR of more than 21% up to 2025.
U.S. Polymer Nanocomposites Market, By Polymer, 2014 – 2025 (USD Billion)
Get more details on this report - Request Free Sample PDF
Rising product demand in the global packaging and automotive industry will be the chief driver for the global polymer nanocomposites market growth over the forecast time period. The product imparts improvement in the properties of synthetic plastic materials such as gas barrier properties, mechanical strength, electrical conductivity, flame retardancy, rheology, etc. These products are gradually replacing heavy metals used in different industries such as aerospace, automotive, etc. For example, Alpine Advanced Materials have announced to commercially license and sell thermoplastic nanocomposite developed by Lockheed Martin Aeronautics in 2019. This new material will be used to replace many metal parts used in the seats, interiors, galleys, trays, etc. in an aircraft. Similarly, many automotive manufacturers are also replacing metal body parts with these products. Growing demand for lightweight vehicles is likely to increase the usage of nanocomposites in automotive manufacturing which will further enhance the industry growth in the forecast time period.
Another key growth enabling factor for the industry is increasing research and development activities in the field of nanomaterials. Major countries including U.S. and Japan are investing huge amount of capital in building infrastructure for carrying out research activities. For instance, U.S. announced to allocate approximately USD 1.4 billion in 2019 for the National Nanotechnology Initiative (NNI), to conduct research related to nanomaterials. Similarly, many private organizations are also taking initiative in developing nanotechnology across the world. Thus, rising research and development activities in the field of nanotechnology will enhance the polymer nanocomposites market size in the coming years.
Although the product helps in enhancing key properties of synthetic plastics, high product prices may slow down the growth of the industry in coming years. High price of nanomaterials such as carbon nanotubes, nanofibers, etc. will affect product demand in the forecast time period.
Polymer Nanocomposites Market, By Polymer
The global polymer nanocomposites market is segmented based on plastic material into epoxy resin, polyamides, polyethylene, polypropylene and others. Other plastics consist of thermoplastics, elastomer, thermosetting resins, etc. Epoxy resin-based nanocomposites is likely to grow at a CAGR of more than 24% in the forecast time period. These products are used in the electrical & electronics industry for a variety of applications including ESD coatings, conductive primers, resistive inks, etc. Polyamide based nanocomposites accounted for the highest share of approximately 40% in 2018 and it is likely to dominate the market by the end of the forecast time period.
Polymer Nanocomposites Market, By Nanomaterials
Nanomaterials in the global polymer nanocomposites market size include nanoclays, carbon nanotubes, nanofiber, nano-oxides and others. Nanoclays accounted for the majority of share in the overall market in 2018. Nanoclay composites are extensively used in the food & beverages packaging industry as it offers good amount of barrier properties over other materials. Carbon nanotubes also account for a considerable amount of share in the market. Multiwalled carbon nanotubes are widely used in the packaging, automotive and electrical & electronics industries.
Polymer Nanocomposites Industry, By End-user
The major end-user industry in the global market are automotive & aerospace, electrical & electronics, packaging, biomedical, paints & coatings and others. Automotive & aerospace is the largest end-user industry segment accounting for majority of the share in overall polymer nanocomposites market size in 2018. Rising product usage in automotive parts such as connectors & fuel line parts, bumpers, structural parts, etc. will augment the polymer nanocomposite industry demand in the upcoming years. Biomedical industry also utilizes the product for a variety of applications including drug delivery, tissue engineering, dental application, bone replacement, etc.
Polymer Nanocomposites Market, By Region
North America held more than 35% of the share in the global polymer nanocomposites market owing to the region’s large spending in the nanotechnology field. Increasing product demand from the packaging sector is key reason behind the region’s growth. Growing nanomaterials demand will further enhance the growth of the market in the coming years.
Another key region in the polymer nanocomposites market is Asia Pacific which is likely to grow by a CAGR of 20% over the study period. This is due to growing nanomaterial-based product demand in the region. Major countries including South Korea and Japan are investing significant amount towards development of nanomaterials which is likely to drive the product demand in the region.
Competitive Market Share
Key players in the polymer nanocomposites market share include Arkema, RTP Company, Nanocyl SA, Unitika, Evonik, Minerals Technologies, Hybrid Plastics, Nylon Corporation of America, 3M, Ad-Nano Technologies, Nanophase Technologies Corporation, Nanoshel, etc.
These companies are investing to build infrastructure for carrying out research and development activities. Other strategies adopted by various players include strategic partnerships, expansion of production capacity, technical innovation, etc.
Get more details on this report - Request Free Sample PDF
These products are made of dispersed nanomaterials into resin matrix that enhances properties of the synthetic plastics. They have been widely used in various industries in recent years. The product can be replaced with metal parts in many applications of automotive & aerospace industry. Increasing research & development activities related to nanotechnology will positively affect the industry growth in coming years.
What Information does this report contain?
|Charts / Figures:||21|
Why Global Market Insights?Comprehensive Research
- All-inclusive coverage
- In-depth and granular data (ex: information for 8 to 15 countries, with clients open to add to this list, in each report)
- Penetrative insights & latest trends
- Offers holistic understanding of the market
- Unique methodology
- Iterative in nature to eliminate errors
- Detailed methodology, scope, assumptions and data sources available for reference
- Committed to making a positive difference for our clients
- Given the nature of this industry, we are committed to ensure that our clients get maximum return on their investment in our services
- Every purchase comes with an option to obtain additional information:
- up to 10% of the original cost
- 45-minute analyst tele-call to obtain further clarity on the market.
- Global Market Insights, Inc. strictly adheres to PCI-DSS security norms.
- Only PCI-DSS compliant payment methods used for highest level of client data security
Connect with our sales team