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Nano Fillers Market to Garner Brimming Revenues by 2023
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Nano fillers are widely used in rubber, paints & coatings, construction, paper, adhesives, sealants, and plastics industries. Nano fillers that are used as reinforcing filler materials, especially in polymers are called montmorillonites. These fillers are added to polymers to induce flame-retardant properties. Significant growth in the plastic industry is expected to drive the nano fillers market across the globe. Growth in the paints & coatings industry due to its vast applications in construction, automotive, architectural, and decorative end-users is anticipated to boost the global nano fillers market in the next few years. Growing economies in developing countries and rapid urbanization directly impact the construction industry. This, in turn, fuels the nano fillers market. Increase in brittleness property on higher amount of fillers and low level of dispersion properties are certain drawbacks of this technology. Proper occupational health and safety norms have to be implemented to prevent exposure due to airborne nature of nano materials in powdered form. Rising demand for adhesives & sealants and plastic films in the packaging industry is estimated to significantly drive the nano fillers market during the forecast period. There is huge scope for new manufacturers to enter into the competitive nano fillers market due to ease of manufacturing process.
The nano fillers market can be regionally segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific holds prominent share of the global nano fillers market followed by Europe and North America. China holds the largest share of the nano fillers market due to growth in the plastics industry. The nano fillers market in Asia Pacific is expected to expand exponentially due to flourishing industrialization sector and expanding manufacturing base. Growing automotive and construction sectors in Europe are projected to be promising segments of the nano fillers market. Furthermore, increasing demand for nano filler applications in paper and rubber industries is likely to fuel the global nano filler market in the near future.
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Some of the key players in the global nano fillers market include Reade Advanced Materials, Akzo Nobel NV, Nanostructured & Amorphous Materials Inc., Intelligent Materials Private Limited, DuPont, 3M, Henkel AG & Co. KGaA, Toyota Central R&D Labs Inc., Fuso Chemical Co. Ltd, Nanomaterials Technology Pte Ltd., Shanxi Xintai Hengxin NanoMaterials Technology Co., Ltd., Hangzhou Keli Chemical Co., Ltd. and Jiangxi Huaming Nanometer Calcium Carbonate Company Limited. These companies focus on continual research and development activities to enhance properties of nano filler material and develop the new application base.
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