July 26, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Nanocomposites Market.
It was estimated prior to this unanticipated outbreak that the Nanocomposites Market was expected to grow at a CAGR of 15.7% during the forecast period. The prime factor contributing to the demand for nanocomposites is its growing adoption in automotive, packaging, defense, and aerospace industries/applications. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Market Scope & Segmentation
A multiphase solid with nano-scale repeat distances between the different phases that make up the material is called nanocomposite. Nanocomposites are used as building blocks that have dimensions in nanometer range in order to create new materials with improved physical properties. This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Segments' Analysis
Based on the material type, the market is segmented as carbon nanotubes, metal oxide, nanofiber, nanoclay, graphene, and others. The nanoclay segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The significant share of the nanoclay segment is attributed to the huge demand from packaging and automotive applications.
Based on the application type, the nanocomposites market is segmented as packaging, automotive, electronics and semiconductors, coating, aerospace & defense, energy, and others. The packaging segment accounted for the largest share by application in 2019, owing to the vast demand from applications, such as pharmaceuticals, food & beverage, and electronics devices. This increase in demand is mainly due to the improved physical and mechanical properties of nanocomposites.
In terms of regions, Asia-Pacific is projected to be the largest and fastest-growing market. The Asia-Pacific’s market is expected to grow with a lucrative CAGR due to the presence of a large number of nanocomposite manufacturers. High adoption of advanced technologies coupled with high demand from the automotive, electronics, and semiconductor applications in China is expected to boost the nanocomposites market in Asia Pacific.
Key Players:
Key players operating in the global Nanocomposites market are-
- Nanocor Inc.
- E. I. Du Pont De Nemours
- Zyvex Technologies Inc.
- Arkema Inc.
- Showa Denko K.K.
- Powdermet Inc.
- RTP Company
- Nanophase Technologies Corporation
- Unidym Inc.
- Nanocyl S.A.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Nanocomposites analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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