Nanocomposites Market, Covid-19 Outbreak, Material Type, Segmentation, Regional Analysis, Key Players and Forecast to 2025

Market Summary

The Global Nanocomposites Market is projected to be valued at over USD 9 Billion by the end of 2025 and is estimated to register a CAGR of around 15.5% during the forecast period. The global demand-side drivers for the nanocomposites market are growing popularity of nanocomposite materials in the food packaging applications and increasing use of lightweight and high strength components in automobile manufacturing. Additionally, the increasing demand for nanocomposites in various biomedical applications such as gene therapy, hip implants, artificial lenses, wound healing, catheters, tissue engineering, large diameter vascular grafts, implantation of medical devices, and artificial organs is expected to propel the market growth in the coming years. Furthermore, the increasing popularity of the product in the paints & coatings industry for anticorrosion barrier coatings, drug delivery systems, and antibacterial coatings, among others is expected to create immense growth opportunities for the players operating in the market during the assessment period.

Market Segmentation

Global Nanocomposites Market has been segregated on the basis of type of matrix material, end-use industry, and region.

By type of matrix material, the global nanocomposites market has been segmented into polymer matrix, metal matrix, ceramic matrix, and others. The polymer matrix segmented has been further segmented into polymer/CNT, polyester/TiO2, and thermoplastic/thermoset polymer/layered silicates. The metal matrix segment is further divided into Fe-Cr/Al2O3, Ni/Al2O3 Al/CNT, and others. The ceramic matrix segment is further categorized into Al2O3/SiO2, SiO2/Ni, Al2O3/SiC, and others. The polymer matrix segment held the largest market share in 2018 and is projected to be the leading segment during the forecast period. This is mainly attributed to the ease of production, lightweight, and ductile nature. The increasing demand for polymer matrix nanocomposites in the packaging and automotive industries is further expected to favor the growth of the segment in the years to follow.

Based on end-use industry, the global nanocomposites market has been categorized into packaging, automotive, aerospace & defense, medical, electrical & electronics, energy, and others. The packaging industry is projected to be the largest segment on account of increasing demand in the food packaging applications such as processed meat products, bakery products, cheese, fruit juices, dairy products, food grains, confectionery, boil‐in‐bag foods, and in the manufacturing of carbonated beverages and beer bottles. The increasing demand for innovative packaging materials for meeting the consumer need for higher quality food with safety, sustainability, and convenience is further expected to fuel the market growth during the forecast period.

Regional Analysis

The global nanocomposites market, by region, has been segmented into five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. In 2018, Asia-Pacific held the largest share of the global market on account of expanding food & beverage and automotive industries in the region. The packaging industry in the region is one of the fastest-growing and the demand for packaging in the food industry is expected to increase at a significant rate in the coming years. Additionally, the other major consumer of nanocomposites is the automotive industry in the emerging economies of China, India, and Thailand. The expanding automotive industry in these economies is likely to boost the demand for the product in the years to follow.

The European market is the second-largest and projected to register healthy growth during the forecast period owing to the increasing use of nanocomposites in the biomedical applications. North America is expected to follow the European market, in terms of market value, wherein the aerospace and energy industries are likely to be the prominent drivers of the regional market growth.

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Key Players

Nanocyl SA (BELGIUM), Evonik Industries AG (Germany), ZYVEX TECHNOLOGIES (US), Arkema (France), NanoSonic, Inc. (US), UNITIKA LTD (Japan), Pixelligent (US), Industrial Nanotech, Inc. (US), Integran Technologies (Canada), and SHOWA DENKO K.K. (Japan), are some of the key players operating in the global nanocomposites market.

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