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Polymer Nanocomposites Market Size
- Report ID: GMI3892
- Published Date: Mar 2022
- Report Format: PDF
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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Polymer Nanocomposites Market Size in 2021: | 8.66 Billion (USD) |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 19.1% |
| 2028 Value Projection: | 26.89 Billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 240 |
| Segments covered: | Polymer, Nanomaterials, End-User |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
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Polymer Nanocomposites Market Scope
