Global Nanocomposites Market to Reach USD 10.2 bn at end 2026 Major Growth Opportunities In Construction, Automotive, Packaging,

Supportive government regulations for use of nanocomposites in packaging and food and beverage industry, increase in demand for nanocomposites in end use industries and growing demand enhanced mechanical and physical properties are expected to drive the growth of the nanocomposites market. The Global Nanocomposites market was valued at USD 3.9 billion in 2018 and is expected to reach USD 10.2 billion in 2026, growing at a CAGR of 10.5% during the forecast period Nanocomposites are commonly known as nanoparticles consist of small-sized particles in a matrix of standard material. The Nanocomposites are widely used in various end-user industries owing to better optical and magnetic properties, high tensile strength, high thermal and electronic conductivity, and high resistance to corrosion.

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Nanocomposites have a huge application in the food industry, due to an increase in demand for packaged foods, extend the shelf life of packaged food materials, and an increase in the shelf life of the packaged foods. Rising demand for nanocomposites in end-use industries like construction, automotive, packaging, electronics, and food in emerging countries is the key factors attributed to the market growth. Furthermore, the increasing demand for enhanced physical and mechanical properties in automotive components also expected to fuel market growth during the forecast period. On the other hand, high costs of nanocomposites and stringent government regulations regarding environment safety are acting as a restraint to this market. However, continuous development in commercializing bio-based nanocomposites and graphene-based nanocomposites and growing applications of nanocomposites in various end-user industries is expected to create major growth opportunities during the forecast period.

Key Findings:

Based on the product type, the carbon nanotubes segment is expected to grow at the highest CAGR of around 18.5% during the forecast period
Based on the application, the packaging segment is accounted for the largest share in the market and held for around 28% of the total market, in 2018
Asia-Pacific accounted for around 38% share of the global nanocomposites market in 2018

Recent News in Nanocomposites Market:

In April 2018, Evonik Industries AG developed new product line of RESOMER Composite polymers. This product was targeted to help the customer to enhance the durability, flexibility, and high strength of material.
In March 2017, Evonik Industries AG and Forward Engineering have established the joint venture named “VESTARO GmbH”. The joint venture intends on implementation of composite solutions for the industrial mass production of fiber composite components for the automotive industry.
In March 2015, ZYVEX TECHNOLOGIES developed new product line named ZNT (Zyvex Nanotube Technology). ZNT is a polymer-modified carbon nanotube additive for a wide range of host matrices that include epoxies, elastomers, thermoplastics, and aqueous-based solutions.

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