The market for polymer nanocomposites is expected to grow at a robust compound annual growth rate (CAGR) of 15.7% from 2023 to 2033, from its estimated US$ 7.89 billion in 2023 to US$ 34.02 billion by the end of 2033.
Polymer nanocomposites are multiphase materials that contain dispersion of nano-sized filler materials such as carbon nanotubes, nanoclays, metal oxides, and ceramics among others.
“Increasing applications of polymer nanocomposites in packaging and aerospace industries will heighten the remuneration of manufacturers over coming years,” says a Fact.MR analyst.
The market for polymer nanocomposites in Asia Pacific has become quite profitable, and it is anticipated that the area will continue to dominate for the foreseeable future. The Asia Pacific region's nanocomposites market is expanding thanks to important nations like China, Japan, and India.
The primary drivers of the polymer nanocomposites market's expansion are the expanding automotive and packaging sectors, improved mechanical and physical qualities, and the expansion of infrastructure in emerging nations. However, the expansion of this industry is hampered by high manufacturing costs and technical and environmental constraints.
- The carbon nanotube segment dominated the market, and is expected to grow during the forecast period, owing to the increasing applications across various end-user industries.
- increasing demand for flame retardant polymer nanocomposites is likely to act as an opportunity in the future.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Competitive Landscape of Polymer Nanocomposites Market:
This report also includes the leading manufacturers’ profiles such as BYK Additives (Germany), 3D System (U.S.), Foster Corporation (U.S.), Industrial Nanotech (U.S.), Hybrid Plastics Inc. (U.S.), Inframat Corporation (U.K.), InMat Inc. (U.S.), Nanocor Incorporated (U.S.) and others.
- The Arkema Group and RTP Company are leading companies, which have adopted expansion and product launch as their key business strategies.
- Alpine Advanced Materials announced to commercially license and sell thermoplastic nanocomposites developed by Lockheed Martin Aeronautics in 2019. This new material will be used to replace many metal parts in the seats, interiors, galleys, and trays in an aircraft.
Country-wise Analysis of Polymer Nanocomposites Industry:
High demand is attributable to huge amount of capital investments in building infrastructure for carrying out research activities in the field of polymer nanocomposites.
South Korea and Japan are the two leading polymer nanocomposite manufacturing countries in Asia Pacific.
Japan accounted for around 50% of polymer nanocomposite revenue share alone in the Asia Pacific region.
View Full Report: https://www.globenewswire.com/news-release/2022/02/16/2386517/0/en/Rapidly-Growing-Medical-Industry-Aims-To-Deliver-Healthy-CAGR-of-16-For-Polymer-Nanocomposites-Market-By-2031.html
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