Polymer Nanocomposites Market by Type (Carbon nanotube, Metal Oxide, Nanofiber, Nanoclay, Graphene and others), by Application (Packaging, Automotive, Aerospace & Defense, Electronics & Semiconductor, Energy, Coatings and others)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Polymer Nanocomposites Market held USD 8731.3 million in 2020 and is to grow with a CAGR of 10.6% from 2020-2030. A nanocomposite is a substance engineered for improved performance by enhancing functional, structural, or cosmetic properties in multiple specific applications. While multiple composite materials such as reinforced plastics and fiberglass are now commonly used for many applications, the demand for novel composites with customised properties has continued for many other applications. Nowadays, these nanocomposites are widely used in applications markets like automotive, packaging, electronics & semiconductor, aerospace & defence, construction, energy and others.

Market Dynamics and Factors:

The superior mechanical & physical properties, growing automotive & packaging industries,  and infrastructural growth in emerging economies are key drivers of polymer nanocomposites market growth. The rise in market growth is primarily driven by supporting rules and regulations by government for the use of nanocomposites in food & beverage, packaging industry, rise in nanocomposites demand in various applications and increase in demand to enhance mechanical and physical properties. In addition , increasing demand in developing countries from growing end-use industries such as automotive & transportation, packaging, and food and beverage will also increase the global polymer nanocomposites market size. Increasing demand for vehicle weight reduction to improve fuel efficiency further raises polymer nanocomposites demand over the forecast period. On the other hand, strict government regulations on environmental safety and high costs of nanocomposites are creating a major hindrance to global polymer nanocomposites market growth.

Market Segmentation:

Based on the type, the global polymer nanocomposites industry is segmented into nanofiber, metal oxide, carbon nanotube, graphene nanoclay, and others. On the basis of application global polymer nanocomposites market is bifurcated into, packaging, aerospace & defense, electronics & semiconductor, energy, coatings and others. Geographic bifurcation of global polymer nanocomposites market share includes North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Due to the widespread applications Asia Pacific accounted for the largest polymer nanocomposites market share.. The involvement of emerging economies, including India and China, contributes to the growth of polymer nanocomposites market in the region. The rising demand for electrical and electronics is expected to fuel the polymer nanocomposites market growth over the forecast period in South East Asia in particular, South Korea , Japan and China. Owing to rising demand in the automotive industry the European market accounted for the second largest market share. In addition, due to its superior material and conservation characteristics, the packaging industry is expected to boost the polymer nanocomposite demand in the region. The polymer nanocomposites market in the Middle East is expected to grow substantially over the forecast period. Africa, due to the growing use of polymer nanocomposites in coating industries, is expected to grow at a significant pace. In addition, increasing infrastructure is expected to promote market growth in the region.

Competitive Scenario:

The key players of global polymer nanocomposites market  are Foster Corporation, 3D System, Hybrid Plastics Inc., Grand Rapids, InMat Inc., Nanocor Incorporated, Inframat Corporation, Inc., Crown Plastics Co., Nanotech Industrial, SiM Composites, AVEKA, Inc., Nanolab, Inc., Noble Polymers LLC, NanoMate Fastener, Natural Nano, Inc.  and Industrial Nanotech.

Polymer Nanocomposites Market Report Scope