Market Research Future (MRFR) has published a cooked research report on the “Global Polymer Nanocomposites Market” that contains information from 2018 to 2032. The Polymer Nanocomposites market is estimated to register a CAGR of 19.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Polymer Nanocomposites market— Nanophase Technologies Corporation, The Arkema Group, E. I. Du Pont De Nemours And Company, RTP Company, Showa Denko Carbon, Inc., Inframat Corporation, Powdermet, Inc., Evonik Industries AG, Nanocor, Inc., and Nanocyl S.A.
The global polymer nanocomposites market is accounted to register a CAGR of 19.50% during the forecast period and is estimated to reach USD 44.2 Billion by 2032.
The primary main factors boosting market growth include increasing uses in electronics, particularly semiconductor applications, and expanding applications across a variety of end-user industries.The expanding product applications across various end use industries are the primary drivers of market expansion.
The global polymer nanocomposites market has been segmented based type and application.
On the basis of Type, the market is segmented into carbon nanotubes, metal oxide, nanofiber, nanoclay, graphene, and others (expanded graphite, recycled paper, wood, recycled fibers). The market segment for nanoclay had the most market share in 2022. Nanoclays and their composites have been studied for biomedical applications including bone cement, tissue engineering, medication delivery, wound healing, and enzyme immobilization, among others, due to their non-toxic nature.
Based on application, the global polymer nanocomposites market has been segmented into packaging, automotive, electronics & semiconductor, aerospace & defense, coatings, energy, and others (sports, healthcare). The automotive sector had the largest market share in 2022. In the automotive and aerospace sectors, polymer nanocomposite materials are generally used to replace heavy metal composites in order to considerably reduce weight and improve the fuel efficiency of the automobile or aircraft system.
The global polymer nanocomposites market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe polymer nanocomposites market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The polymer nanocomposites market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World polymer nanocomposites market comprises of Middle East, Africa, and Latin America.
The largest market share for polymer nanocomposites was maintained by the North American regional sector. The presence of biomedical and packaging producers in the area will fuel product demand in the approaching years. The business's expansion is being further boosted by changes in the American aerospace and automobile industries. Additionally, the expansion of regional government initiatives to reduce carbon footprints will encourage the market growth of polymer nanocomposites.
Moreover, the Europe market has been persistently growing over the forecast period. This is a result of growing demand from both the developed and developing world, including Germany, the U.K., Spain, Italy, and other sectors of the automotive industry and other industries. The U.K. Polymer Nanocomposites Market had the quickest growth in the European area, and the German Polymer Nanocomposites Market had the greatest market share.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. This is a result of their widespread use in the manufacturing and automotive industries in countries like China and India. China's aviation industry is projected to buy over 6,000 new aircraft between 2016 and 2033.
Furthermore, the rest of the world's polymer nanocomposites market is divided into the Middle East, Africa, and Latin America. The demand is driven by various industries, including automotive, electronics, packaging, and construction. Countries like Brazil, Mexico, and Saudi Arabia are witnessing increased adoption of polymer nanocomposites due to their improved mechanical, thermal, and barrier properties, as well as enhanced functionality and sustainability in various applications.
Key Findings of the Study