Polymer Nanocomposites Market Research Report 2019 | Arkema, RTP Company, Nanocyl SA, Unitika, Evonik, Minerals Technologies, Hybrid Plastics, Nylon Corporation of America, 3M
Polymer nanocomposites market would witness a rising growth in future owing to the developments in automotive industry. The superior thermal and physical properties of the product make it ideal to be used in automotive manufacturing. The product is used in various automotive parts like headlamp covers, windows, tires, engine & inverter covers, body panels, coatings, etc. Currently, light-weight materials are increasingly being used in automotive manufacturing to achieve fuel efficiency and superior performance. This would in turn increase the demand for polymer nanocomposites in the future.
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Progress in the electronics industry would be another growth enabler in the polymer nanocomposites market. The product is known for its flame retardancy, electrical conductivity, optical clarity and chemical resistance. These features make it suitable to be used in various potential applications like batteries, memory devices, chemical sensors, smart windows, PV cells, LEDs, etc. Rising trend towards miniaturization in electronics industry will further increase the demand for polymer nanocomposites due to product's dimensional stability in various sizes.
Polyamide occupied the largest share in polymer nanocomposites market owing to its properties like chemical resistance, good temperature stability, tensile strength, etc. Such superior qualities make it suitable to be used in applications like packaging, automotive, electronics, etc. Polypropylene is another polymer segment which would gain a significant growth rate in the future due to its unique mechanical properties.
Polymer Nanocomposites Market, by Polymer
Polymer Nanocomposites Market, by Application
Automotive & Aerospace
Electrical & Electronics
Paints & Coatings
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Nano-oxides, nanoclay, nanofiber, carbon nanotubes, & others are some of the major nanomaterials in the polymer nanocomposites market. Nanoclay attained a leading market share owing to its extensive usage in industries like food & beverage, biomedical, water treatment, etc. These composites are capable to remove a broad range of pollutants from liquid solutions making it suitable for water treatment processes.
The superior characteristics of polymer nanocomposites has resulted in its high usage in packaging industry. This segment would portray a rising trend in the near future due to extensive product usage in food & beverage packaging. The product is able to protect the food items from various gases, and volatile compounds. They also offer thermal & optical features which makes it more suitable for this application.
The global revenue generated in the food & beverage market reached around USD 108 billion in 2018 and will increase to more than USD 160 billion by 2023. In 2018, the market value of global food packaging was estimated to be about USD 290 billion. Hence, developments in the food packaging industry would directly influence the demand for polymer nanocomposites in the future.
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Key polymer nanocomposites market players are Evonik, Arkema, Nylon Corporation of America, RTP Company, 3M, and Nanophase Technologies Corporation.
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