Polymer Nanocomposites Market size worth over $31 billion by 2025
Published Date: July 9, 2019 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the polymer nanocomposites market size will likely surpass $31 billion by 2025. Increasing product usage in the automobile industry will chiefly drive the growth of the market over the upcoming years.
The product is extensively used in making under the hood components in the automotive sector, wherein key product properties such as light weight, improved stiffness and high heat deflection temperature are desirable. Rising consumption of lightweight materials in automotive industry will enhance polymer nanocomposites market size by 2025.
Major countries such as Japan, U.S., Germany, South Korea, etc. are increasing their R&D expenditures for development of novel nanomaterials. Manufacturers of polymer nanocomposites are also expanding their research activities related to nanotechnology in order to promote the usage of the product in various end-user industries. Thus, rising corporate and government spending into nanotechnology research will propel the product demand in the study period.
The market may face hindrances due to the high costs involved in product development along with barriers due to strict regulations mandated by governing bodies regarding human exposure levels.
Browse key industry insights spread across 265 pages with 441 market data tables & 21 figures & charts from the report, “Polymer Nanocomposites Market 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 OutlookGrowth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Polypropylene, epoxy, polyethylene, polyamide, and others are the major polymers used in the polymer nanocomposites. Other polymer-based nanocomposites in the industry include various thermosetting resins, elastomers and thermoplastics such as NBR-based, EPDM-based, PET-based, and IR-based polymers. Polyethylene based products will account for more than a third of the overall polymer nanocomposites market by 2025. These products are widely utilized for automotive & aerospace, packaging, and electrical & electronics industry.
Nano-oxide based polymer nanocomposites are widely utilized in the biomedical industry for application in therapeutic systems and as a bioimaging agent. These products possess good magnetic and optical properties. Rising biomedical industry across the world will increase the polymer nanocomposites market share by 2025.
Packaging business is a major consumer segment of polymer nanocomposites and will account for a significant share by 2025. Packaging manufacturers use the product in variety of food & beverages wrapping applications due to high gas barrier properties. Other end-user industries include oil & gas, sports, marine, etc.
Europe will hold approximately 30% share in the global polymer nanocomposites market due to increasing research activities in the field of nanotechnology. Major countries such as Germany, UK, and France are making investments in research and development of nano-based products. Major manufacturers are expanding their capacities in Europe due to increasing consumption of the product.
Some participants of polymer nanocomposites industry include Nanocyl SA, Arkema, Unitika, 3M, RTP Company, Evonik, Nanophase Technologies Corporation, Hybrid Plastics, Nanoshel, Nylon Corporation of America, Minerals Technologies, Ad-Nano Technologies, etc. These players are strategically investing to expand their capacities for the development of nanomaterials and related products and are actively entering into partnerships with other companies and research organizations to offer competition to their rivals in the industry.