Nanocomposites are substances that possess properties that cater to applications across diverse industry verticals. The massive investments in the research and development of efficient products will emerge in favor of the growth of the overall market in the coming years. The increasing applications of the product have attracted huge investments from large-scale companies across the world. The properties of nanocomposites such as good electric conductivity, high thermal stability, and excellent mechanical strength have fuelled the demand for the product across the world. The increasing uses in the biomedical industry will bode well for the growth of the overall nanocomposites market in the foreseeable future.
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The global nanocomposites market size is projected to reach USD 14.34 billion by the end of 2027. The increasing applications of the product across diverse industry verticals will emerge in favor of market growth. The presence of several large-scale companies will contribute to the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Nanocomposites Market Size, Share & COVID-19 Impact Analysis, By Type (Polymer, Metal, Ceramic, Others), By Product (Carbon Nanotubes, Nanoclay, Graphene, Nanofiber, Others), By Application (Packaging, Electrical & Electronics, Automotive, Aerospace & Defense, Others), and Regional Forecast, 2020-2027” the market was worth USD 4.32 billion in 2019 and will exhibit a CAGR of 16.3% during the forecast period, 2020-2027.
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation, and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of the forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year Growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and the future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
- The report analyzes the growth rate, market size, and valuation of the market during the forecast period.
Increasing Number of Company Collaborations will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting for the increasing demand for the product, there is a healthy market competition across the world. The strong market competition has encouraged companies to adopt newer strategies that have helped them establish a stronghold in the market. In July 2020, PPK announced that it has partnered with Geelong’s Deakin University for the development of a new product integrated with nanocomposites. The companies will develop boron nitride nanotubes (BNNT) for new dental nanocomposites. An increasing number of such company collaborations will have a huge impact on the growth of the overall market in the forthcoming years.
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List of the Key Companies Profiled:
- Arkema S.A. (France)
- Evonik Industries AG (Germany)
- Showa Denko K.K. (Japan)
- Cabot Corporation (U.S.)
- Zyvex Technologies Inc. (U.S.)
- Nanocyl SA (Belgium)
- RTP Company (U.S.)
- Nanophase Technologies Corporation (U.S.)
- Nanocor Inc. (U.S.)
- DuPont (U.S.)
- Other Key Players
Asia Pacific to Emerge Dominant; Presence of Several Large Scale Companies will Emerge in Favor of Market Growth
The report analyzes the ongoing market trends across North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The increasing use of nanocomposites by large-scale companies in the Asia Pacific will fuel the demand for the product across the world. The increasing investments in the research and development of efficient products will also emerge in favor of market growth. Additionally, the increasing use of nanocomposites in the electronic industry will have a huge impact on the growth of the regional market. As of 2019, the market in Asia Pacific was worth USD 1.65 billion and this value is projected to rise at a considerable pace in the coming years.
Industry Developments:
July 2019: Researchers from the University of California, Santa Barbara, and the University of Hawaii have synthesized nanoparticles that can be used for 3D printing.
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