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Rapid advancements in the automobile sector to foster Polymer Nanocomposites Market size
Polymer Nanocomposites Market
It is generally used in automotive components like windows, headlamp covers, engine & inverter covers, tires, coatings, and body panels. However, it has found new application as a light-weight material in the automotive sector, helping manufacturers to develop vehicles with improved performance and fuel efficiency.
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Technological innovation in the electronics sector could boost the demand for polymer nanocomposites in the coming years. The material is heavily utilized in electronic devices due to offered benefits like electrical conductivity, flame retardancy, chemical resistance, and optical clarity. These abilities make polymer nanocomposite a preferred material in numerous applications such as memory devices, batteries, smart windows, chemical sensors, LEDs, and PV cells.
Moreover, its ability to offer dimensional stability across multiple sizes is enabling electronic manufacturers to create miniature devices. Hence, escalating demand for miniature, pocket-friendly electronic gadgets could lift the adoption curve of polymer nanocomposites. Given to these aspects, Global Market Insights Inc. estimates that the polymer nanocomposites market could exceed USD 31 billion by 2025.
Based on polymer, the PNC (polymer nanocomposites) market is segmented into polyamide, epoxy resin, polypropylene, and polyethylene. Out of these, the polyamide segment was accounted for largest market share and is expected to record considerable growth over the predicted timeframe.
This growth can be attributed to its exceptional properties such as good temperature stability, chemical resistance, and tensile strength. These qualities position it as a suitable candidate for automotive, packaging and electronics industries. Meanwhile, polypropylene is anticipated to record substantial growth in the coming years due to its exceptional mechanical characteristics.
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In terms of nanomaterials, the PNC market is bifurcated into nanoclay, nano-oxides, carbon nanotubes, and nanofiber. Extensive use of nanoclay in verticals like biomedical, food & beverage and water treatment have allowed its market to record prominent growth. These composites are proficient enough to eliminate a wide variety of pollutants from liquid solutions, which in turn, makes it an integral component in water treatment processes.
Taking into consideration the topographical trends, North America is expected to offer lucrative opportunities for regional polymer nanocomposites industry. The region is currently observing a significant shift toward smart packaging. In order to fulfill this demand, manufacturers are constantly investing in R&D projects that might transform the nanotechnology spectrum.
Currently, Arkema, Evonik, RTP Company, Nylon Corporation of America, Nanophase Technologies Corporation and 3M are holding a major share in global polymer nanocomposites market, mainly by introducing new and advanced line up of products.
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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