The global Polymer Nanocomposite Market is forecast to reach USD 14.58 Billion by 2027, according to a new report by Reports and Data. The demand for Polymer Nanocomposite is anticipated to see significant growth due to growth in end-use applications, including aerospace engineering, automobiles industry, construction, renewable energy sources, defense, and food. Increasing demand for products in the global packaging and automotive sectors will be the primary reason for the development of the market over the forecast period. The product enhances the characteristics of artificial plastics like the features of gas barriers, tensile stability, electrical conductivity, flame retardance, rheology, and more. Such products are slowly substituting heavy metals used in various industries, such as aerospace and the automotive sector.
Some other major growth factors encouraging the market is increased nanomaterial research and development activities. Significant nations, including the United States and Japan, are spending massive sums of money in the development of facilities for research work. Likewise, several private companies are still taking steps to develop nanotechnology around the globe. Increasing nanotechnology development programs will thus improve the market share in the coming years.
While the product is helping to enhance the useful characteristics of synthetic plastics, increased prices of goods may slow the market's growth in the coming years. In the expected time frame, rising costs of nanomaterials such as carbon nanotubes, nanofibers, and others would impact the demand.
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Major companies profiled in the report include:
Arkema, RTP Company, Nanocyl SA, Unitika, Evonik, Minerals Technologies, Hybrid Plastics, Nylon Corporation of America, Ad-Nano Technologies, and 3M, among others.
Further key findings from the report suggest:
The automobile & aerospace segment dominated the world industry in 2019, with a share of about 30.88%. The section is expected to expand at a CAGR of 16.6% from 2020 to 2027 further. It can be expected to create lucrative opportunities for Polymer Nanocomposite in the industry due to the increasing demand for lightweight automobiles.
Owing to its sufficiently advanced distribution network industries, powerful analysis capabilities, coupled with a highly qualified workforce and increasing R&D initiatives, the U.S. is one of the prominent market nations. Developing applications and strong demand are encouraging producers to focus on new technologies for market expansion.
The Asia Pacific driven by China, India, and Japan's production may record improvements in revenue with a CAGR of 16.3% by 2027 related to the growing infrastructure and increasing demands for high-quality composites in the region. Rapid urbanization along with raw material availability and cheap labor has led to considerable expansion in the automobile industry, which is the main driving factor.
Manufacturers make the distinction of their polymers based on quality and price, taking into account characteristics such as quality and level of purity. The players are focusing on developing multifunctional applications.
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The materials and chemicals industry has always employed cutting edge of innovation. It has guided the scientific community as well as individuals to explore new aspects of nature. From medical supplies to paints to perfumes, everything is composed of chemicals. Both new chemical discovery and substance explorations are handled by the materials and chemicals industry. The materials and chemicals industry has always taken a forward-thinking approach, from discovering new compounds to creating new chemical combinations.
This industry includes polymers, dyes, lubricants, surfactants, resins, petrochemicals, bleaches, paints, plastics, soap, detergent, and acids, among other chemicals and chemical products. The materials and chemical industries are known for improving product physical characteristics. Magnetic, optical, structural, and catalytic properties are all altered to increase the product's overall efficacy. Leading players in the materials and chemicals industry have questioned the status quo and produced brilliant inventions that have altered the course of history. Advancement in the materials and chemicals industry can lead other industries in comprehending new types of matter. In this way, it creates a solid foundation for the advancement of society as a whole.
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Automotive & Aerospace
Electrical & Electronics
Paints & Coatings
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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