Global Polymer Nanocomposites Market Overview
Polymer Nanocomposites Market Size was valued at USD 8.9 Billion in 2022. The Polymer Nanocomposites industry is projected to grow from USD 10.6 Billion in 2023 to USD 44.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.50% during the forecast period (2023 - 2032). Rising uses in electronics, particularly semiconductor applications, and growing applications across a variety of end-user industries, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Polymer Nanocomposites Market Trends
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The increasing applications across various end-user industries is driving the market growth
The major factors propelling market growth are the expanding product applications across multiple end use industries. For instance, PNC is widely used in the automotive industry to produce light-weight car components including tyres, exhaust systems, suspension and brake systems, and catalytic converters that improve overall performance, lighten vehicles, and reduce carbon emissions. This is increasing the demand for the product along with the introduction of strict regulatory restrictions addressing car emissions. The market is expanding as a result of PNC's widespread use in the defence industry for the fabrication of electromagnetic shielding, sensors, electrically conductive fabrics, ballistic and corrosion protection, and fire retardation. In addition, the rate of product adoption is being accelerated by the increasing use of carbon nanotubes (CNT) conductors and tiles for generating power. The market is expanding as a result of PNC's developing biomedical applications in tissue engineering, bone rebuilding, biological imaging, nanomedicine, cell tracking, and magnetic bioseparation. A bullish market outlook is also being influenced by additional variables, such as continuous nanotechnology research and development, favourable government regulations, soaring consumer electronics sales, and increasing vehicle production.
Key factors such as the enormous need for lightweight cars and growing research and development efforts in the field of nanotechnology are accelerating market expansion. Due to growing demand from end-use sectors such aerospace engineering, automotive, construction, renewable power generation, military, and food & packaging, the market for polymer nanocomposites has experienced significant expansion. The market is anticipated to grow over the next few years as a result of the increased demand for polymer nanocomposites in the semiconductor manufacturing industry due to their superior qualities, including compactness, lightweight construction, and electrical conductivity. The growing demand for bio-based nanocomposite materials from a number of industries should be advantageous for prominent manufacturers on the global market.
Sandwich structures, anti-lightning and anti-radar shields, and semiconductors are all frequently made with polymer nanocomposites in the aircraft industry. They are also widely used in food packaging materials to maintain flavour in a variety of meals and beverages.
A material called a nanocomposite is one that has had its structural and functional qualities improved in order to perform better in a variety of distinct applications. The multifunctionality of nanocomposites is the reason for the market's strong demand and expansion. Nanoparticles' extraordinarily high surface-to-volume and aspect ratios make them ideal for usage in polymeric materials. These structures integrate the best features of each component for advanced applications, improving their mechanical and superconducting properties. Thus, driving the Polymer Nanocomposites market revenue.
Polymer Nanocomposites Market Segment Insights
Polymer Nanocomposites Type Insights
The Polymer Nanocomposites Market segmentation, based on type, includes carbon nanotubes, metal oxide, nanofiber, nanoclay, graphene, and others (expanded graphite, recycled paper, wood, recycled fibers). In 2022, the nanoclay category held the greatest market share. Due to their non-toxic nature, nanoclays and their composites have been researched for biomedical applications such as bone cement, tissue engineering, drug delivery, wound healing, and enzyme immobilisation, among others. Nanoclays are divided into bentonite montmorillonite, halloysite, kaolinite, and hectorite based on the morphology and chemical makeup of nanomaterials.
Polymer Nanocomposites Application Insights
The Polymer Nanocomposites Market segmentation, based on application, includes packaging, automotive, electronics & semiconductor, aerospace & defense, coatings, energy, and others (sports, healthcare). In 2022, the automotive category held the highest market share. In order to significantly reduce weight and enhance the fuel efficiency of the car or aircraft system, polymer nanocomposite materials are primarily utilised to replace heavy metal composites in the automotive and aerospace industries. The product is used by the automobile industry to create tyres, pieces for cars including doors and fuel lubricants, and other under-the-hood elements. These materials have important qualities including light weight, UV resistance, minimal wear & corrosion, reduced friction, and engine emission.
The automobile sector will expand faster thanks to the rapid increase in output. By 2030, the number of automobiles is expected to quadruple, rising from 700 million in 2019 to roughly 1.5 billion.
Figure 1: Polymer Nanocomposites Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Polymer Nanocomposites Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Polymer Nanocomposites Market dominated this market in 2022 (45.80%). In the upcoming years, product demand will be driven by the region's abundance of biomedical and packaging producers. The growth of the business is being further accelerated by developments in the American automotive and aerospace industries. In addition, the region's expanding government policies aimed at lowering carbon footprint will push the market development for polymer nanocomposites. Further, the U.S. Polymer Nanocomposites market held the largest market share, and the Canada Polymer Nanocomposites market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: POLYMER NANOCOMPOSITES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Polymer Nanocomposites market accounts for the significant market share. This is due to the rising demand from the automobile industry and other sectors in both developed and developing nations including Germany, the U.K., Spain, and Italy. Further, the German Polymer Nanocomposites market held the largest market share, and the U.K Polymer Nanocomposites market was the fastest growing market in the European region
The Asia Pacific Polymer Nanocomposites market is expected to register fastest growth from 2023 to 2032. This is due to extensive usage in the automotive and industrial sectors in nations like China and India. Between 2016 and 2033, the aviation sector in China is expected to acquire almost 6,000 new aircraft. When compared to prior years, China's domestic air passenger market saw the largest incremental increase in the number of passenger journeys. The rise in travellers motivates the government to spend more on expanding airline capacity, which in turn boosts the need for polymer nanocomposites. Moreover, China’s Polymer Nanocomposites market held the largest market share, and the Indian Polymer Nanocomposites market was the fastest growing market in the Asia-Pacific region.
Polymer Nanocomposites Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Polymer Nanocomposites market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Polymer Nanocomposites industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Polymer Nanocomposites industry to benefit clients and increase the market sector. In recent years, the Polymer Nanocomposites industry has offered some of the most significant advantages to medicine. Major players in the Polymer Nanocomposites market, including 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., are attempting to increase market demand by investing in research and development operations.
Alpine is a leader in the development of lightweight, cost-effective structural thermoplastic nanocomposites as well as other cutting-edge nanocomposite formulae that offer superior mechanical, thermal, environmental, and processability qualities. The commercial licencing and sales of Lockheed Martin Aeronautics' developed thermoplastic nanocomposites were disclosed by Alpine Advanced Materials in 2019. Many of the metal components in an aircraft's seats, interiors, galleys, and trays will be replaced with this new material.
Arkema SA (Arkema) specializes in the production of innovative materials and specialized chemicals. Adhesives, biobased materials, coatings, composites, health care, and athletic goods are among the industries for which the company offers solutions. The company's products include technical polymers, filtration and adsorption, organic peroxides, thiochemicals, fluorogases, hydrogen peroxide, acrylics, coating resins, photocure resins, and rheology additives. Agriculture, air conditioning, automotive, chemicals, coating, consumer goods, electrical, oil, health, packaging, plastics, pulp, rubber, sports, and water treatment are a few more industries that use the company's products. The business operates in Asia, the US, Europe, Canada, and Mexico. The headquarters of Arkema are in Colombes, France. The Arkema Group and RTP Company are leading businesses in 2021 because they have made product introduction and expansiaaon their primary business goals.
The RTP Company was established in 1982 and has its headquarters in Winona, Minnesota. RTP is a leading manufacturer of specially developed thermoplastics worldwide. The specialists at RTP Company create specialised thermoplastic composites using more than 60 distinct technical resin systems.
Key Companies in the Polymer Nanocomposites market include
Polymer Nanocomposites Industry Developments
May 2023 According to the India Brand Equity Foundation (IBEF), the country's food processing industry is anticipated to generate US$ 535 billion by 2025–2026. In contrast, the Indian government has approved spending USD 15.25 million on 28 food processing projects, which would assist to cut down on food waste and raise consumer demand for recyclable packaging and biodegradable materials.
Polymer Nanocomposites Market Segmentation
Polymer Nanocomposites Type Outlook
- Carbon Nanotubes
- Metal Oxide
- Nanofiber
- Nanoclay
- Graphene
- Others (Expanded graphite, Recycled paper, Wood, Recycled fibers)
Polymer Nanocomposites Application Outlook
- Packaging
- Automotive
- Electronics & Semiconductor
- Aerospace & Defense
- Coatings
- Energy
- Others (Sports, Healthcare)
Polymer Nanocomposites Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 8.9 Billion |
| Market Size 2023 |
USD 10.6 Billion |
| Market Size 2032 |
USD 44.2Billion |
| Compound Annual Growth Rate (CAGR) |
19.50% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Type, Application, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
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. |
| Key Market Opportunities |
Extensive R&D activities |
| Key Market Dynamics |
The increasing adoption of engineering plastics across industries and adoption of Polymer Nanocomposites in the aerospace and automotive industries |
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Polymer Nanocomposites Market Highlights:
Frequently Asked Questions (FAQ) :
The Polymer Nanocomposites Market size was valued at USD 8.9 Billion in 2022.
The global market is projected to grow at a CAGR of 19.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are 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 Nanoclay Type dominated the market in 2022.
The Automotive Application had the largest share in the global market.
