Polymer Nanocomposites Market - By Polymer (Epoxy Resin, Polyamide, Polyethylene, Polypropylene), By Nanomaterials (Nanoclays, Carbon Nanotubes, Nanofibers, Nano-oxides) and End-user Industry & Forecast, 2022-2028

Polymer Nanocomposites Market Size

Polymer Nanocomposites Market size was valued at around USD 8.66 billion in 2021 and will exhibit a growth rate of over 19.1% CAGR from 2022 to 2028 owing to the increasing government initiatives for lightweight vehicles in emerging economies, such as China, India, Japan, and Indonesia. The industry is projected to reach 1,420.1 Kilo Tons while recording 20.2% CAGR in terms of volume through the forecast period.
 

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Polymer nanocomposite is a composite material comprising nanomaterials and polymer matrix. The nanomaterials considered here must have at least one of the three dimensions in the nanometer range (i.e., 1nm – 100nm). Polymer nanocomposites are manufactured by dispersing nanomaterials into the polymer matrix by selecting a suitable manufacturing process. They are produced by using nanomaterials, such as nanoclays, carbon nanotubes, nanofibers, and nano-oxides, and polymers such as epoxy resin, polyamide, polyethylene, and polypropylene.
 

Polymer nanocomposites are used in various industries, such as automotive & aerospace, biomedical, electrical & electronics, packaging, paints & coatings, oil & gas, sports, and marine, due to their superior product characteristics. Polymer nanocomposites have huge advantages over synthetic polymers and composites. These products are used to improve the key properties of the original polymer such as improvement in strength & modulus, excellent barrier properties, heat resistance, and reduced flammability.
 

The global polymer nanocomposites market share will grow significantly due to the rising demand from the packaging & automotive industry across the world. The product is utilized in the automotive industry to achieve weight reduction, low carbon emission, and reduce wear & corrosion of the components. Another key growth enabler of the industry is the rising research & development activities in the field of nanotechnology. Developed countries including the U.S., Germany, and Japan are investing in the expansion of their production and research facilities for nanomaterials. The key restraint likely to hamper the product demand is the stringent government regulations related to nanomaterials.
 

Polymer Nanocomposites Market Analysis

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The polyamide segment will generate over USD 10 billion by 2028. The polyamide possesses high barrier and mechanical properties, making it ideal for the packaging industry. The addition of nanomaterials to nylon leads to substantial changes in the properties of these materials such as better transparency, gas barrier properties, glossiness, low permeability, increased flame retardancy, high modulus, etc. In 1980, Toyota research group utilized polymer-6-nanoclay composites in the automotive industry to manufacture timing belt housing, which provided a huge opportunity for polyamide nanocomposites research.
 

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The nanoclays segment in the polyamide nanocomposites market accounted for around USD 3.5 billion in 2021 and is projected to grow at a CAGR of over 19.5% through 2028. Nanoclays and their composites have been investigated for biomedical applications including bone cement, tissue engineering, medication delivery, wound healing, and enzyme immobilization, among others, due to their harmless nature. Based on the morphology and chemical compositions of nanomaterials, nanoclays are categorized into bentonite montmorillonite, halloysite, kaolinite, and hectorite.
 

Nanoclays are widely used in automotive, packaging, aerospace, biomedical, and wastewater pretreatment industries. The product is commercially more viable than the other nanomaterials due to its low cost, processability, nontoxicity, easy availability, etc. The rising research & development activities related to nanoclays will further enhance their usage in the coming years.
 

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The automotive & aerospace segment dominates global polymer nanocomposites market and will generate a demand of over 450 kilo tons by 2028. In the automotive & aerospace industry, the polymer nanocomposite materials are majorly used to replace heavy metal composites to achieve significant weight reduction and improved fuel consumption efficiency of the vehicle or aircraft system.
 

The automotive industry utilizes the product to manufacture under the hood components, tires, and automotive parts such as automotive doors, fuel lubricants, etc. These materials possess key properties such as lightweight, UV resistance, low wear & corrosion, reduction in friction, and emission from the engine.
 

The strong growth of automotive production will enhance the industry growth. The UN has estimated that the number of vehicles will double from 700 million in 2019 to approximately 1.5 billion by 2030.
 

Furthermore, in the aerospace industry, these materials are extensively used in aircraft interior doors to replace metal parts such as aluminum to achieve significant weight reduction. The growing usage of nanocomposites in the aerospace industry in recent years has provided a new opportunity for polymer nanocomposites market in recent years.
 

North America dominates the global market and is projected to reach over USD 10.5 billion by 2028 due to the surging research & development activities within the region. The presence of a large number of biomedical and packaging manufacturers in the region will drive the product demand in the coming years. Advancements in the automotive & aerospace industry in the U.S. are further enhancing the industry growth. Additionally, increasing government regulations toward reducing carbon footprint in the region will boost the polymer nanocomposites market growth.
 

Polymer Nanocomposites Market Share

Global polymer nanocomposites industry players are majorly focusing on enhancing their product range to maintain their leading position in the market. Some of the key manufacturers include RTP Company, Nylon Corporation of America, Arkema, Nanocyl SA, Evonik, Minerals Technologies, Unitika, 3M, Nanophase Technologies Corporation, Hybrid Plastics, Nanoshel, and Ad-Nano Technologies, among others.
 

The polymer nanocomposites market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2022 to 2028 for the following segments:

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By Polymer

• Epoxy Resin
• Polyamide
• Polyethylene
• Polypropylene
• Others

By Nanomaterials

• Nanoclays
• Carbon nanotubes
• Nanofiber
• Nano-oxides
• Others

By End-user

• Automotive & Aerospace
• Electricals & Electronics
• Packaging
• Biomedical
• Paints & Coatings
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE