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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.
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.
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.