Nanocomposites Market Forecasts to 2028 – Global Analysis By Type (Carbon Nanotubes, Nanoclay and Other Types), Material (Non-polymer, Polymer and Other Materials), End User (Automotive, Electrical & Electronics and Other End Users) and By Geography

Nanocomposites Market Forecasts to 2028 – Global Analysis By Type (Carbon Nanotubes, Nanoclay and Other Types), Material (Non-polymer, Polymer and Other Materials), End User (Automotive, Electrical & Electronics and Other End Users) and By Geography

According tStratistics MRC, the Global Nanocomposites Market is accounted for $6.73 billion in 2022 and is expected treach $18.18 billion by 2028 growing at a CAGR of 18.0% during the forecast period. Nanocomposites are materials that are produced by combining various components at the nanoscale, giving them exceptional features and distinctive design opportunities. One of the strongest and longest-lasting materials on the earth is graphene. It has a strong thermal conductivity as well. In light of this, graphene-polymer nanocomposites have demonstrated great promise as functional or structural materials in the future. Products made from nanocomposites are often created using the nanotechnology process. The packaging industry's quick adoption of nanocomposites is propelling market expansion.

According tthe 2021 World Investment Report published by UNCTAD, FDI inflows intChina increased by 6% in 2020, tUSD 149 billion, up from USD 141 billion in 2019. According tthe data published by OICA, India produced more than 3.3 million vehicles in 2020.

Market Dynamics:

Driver:

Increasing applications in the packaging industry

One of the industries that have seen a number of modern-era modifications in the past twenty years is packaging. Films, cartons, boxes, and other packaging materials are frequently made with nanocomposite. Due tits high quality, adaptability, flexibility, high tensile strength, and reduced price when compared tother packaging products, the product is widely used in the packaging industry. The market's expansion has been significantly impacted by rising packaging demand from the food and beverage industry. These products have superior thermal, mechanical, biodegradable, and microbial and other contaminating agent resistance qualities. The market will be driven by the use of intelligent and active food packaging technologies.

Restraint:

High production and processing cost may hinder growth

These composites are specially designed materials that have quickly become important in the nanotechnology industry. Typically, nanoparticles suspended in the matrix are used tcreate them. By using techniques like chemical vapour deposition, laser ablation, arc discharge, and other procedures that suspend the nano-size particles intthe matrix grains, carbon nanotubes can be created. The used machinery and equipment are a little pricey and require a lot of upkeep. Tmaintain production efficiency and quality, the equipment alsneeds routine maintenance. As a result, the cost of production and processing goes up.

Opportunity:

Rise in automotive industries and rate of urbanization

One of the major drivers of the growth of the global nanocomposites market is the expansion of the automotive industry. There has been an increase in transportation due turbanisation. A greater number of people are buying cars for their homes. Polymer nanocomposites are utilised extensively in the automobile industry because of their great characteristics for fuel efficiency, high performance, weight reduction of vehicles, and decrease of carbon dioxide emissions. In addition, one of the factors boosting the market for nanocomposites is the growing urban population. The demand for nanocomposites, however, is increased by the expansion of the automobile industry and the urban population.

Threat:

Harmful thuman health

Some nanomaterials have been reported tcause harm thumans. Nevertheless, the evidence has not been established as twhether any type of nanomaterials application, particularly in the food industry, is responsible for this. For safety tbe verified, nanomaterials should first be treated as potentially dangerous materials, as recommended by the Institute of Food Science and Technology (IFST). Food and Drug Administration's (FDA's) responsibility includes proving nanoscale products' safety. Although there is nnecessity for labelling that specifies whether nanotechnology was utilised in their creation, the FDA cannot simply examine items based on this technology.

Covid-19 Impact

Due tthe strict regulations set by the local governments and organisations, the ongoing COVID-19 pandemic has significantly impacted the worldwide nanocomposite industry. In some areas, the production of the products has decreased, which has had a big impact on the market. Although this situation has an impact on the industry, certain industries, such food packaging and electronics, have seen a large rise in demand. Due tsocial distance standards, there has been a significant rise in the need for packaged food items and takeout parcels, which has increased the demand for nanocomposite packaging films and cartons. In addition, the use of e-learning in schools, universities, and other educational institutions is creating a demand potential for touch screen electronics devices including smartphones, laptops, TV displays, and other gadgets.

The carbon nanotubes segment is expected tbe the largest during the forecast period

The carbon nanotubes segment is estimated thave a lucrative growth. The mechanical, barrier, and biodegradability of carbon nanotubes and graphene nanoparticles make them intriguing materials for packaging applications. Because of its high heat conductivity and surface area, graphene is the most competitive product in the nanocomposites market. Carbon nanotubes and graphene-containing polymer nanocomposites are currently under intense scrutiny for use in the creation of smart, active, and intelligent packaging. The market expansion for nanocomposites is being supported by the rising demand for packaged food.

The packaging segment is expected thave the highest CAGR during the forecast period

The packaging segment is anticipated twitness the fastest CAGR growth during the forecast period. The mechanical characteristics, barrier performances, and functional qualities of biodegradable polymers can all be enhanced with the use of graphene nanoparticles and carbon nanotubes in packaging applications. The market for packaging is being driven by the booming food and beverage and e-commerce sectors, which is alsboosting the market for nanocomposites.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast period owing tthe area's quickly expanding construction, packaging, and automotive industries. Graphene is currently in excess due tChinese firms' overproduction. The increasing demand for nano-composites from end-use sectors like automotive and electronics & semiconductor in China and Japan as well as the existence of innovative nano-composites manufacturers are what are causing the area texpand. The regional demand is additionally supported by an abundance of labour resources and raw material sources.

Region with highest CAGR:

Europe is projected thave the highest CAGR over the forecast period, owing tthe expanding use of these composites in the automotive and medical industries. Continuous research and development aimed at creating durable, lightweight, and non-corrosive materials for autparts has the potential tmake automobiles lighter overall and use less fuel. It is likely tincrease demand from different European automakers. Also, the growing geriatric population in European nations will enhance the need for biomedical applications, which will further support the market's expansion.

Key players in the market

Some of the key players profiled in the Nanocomposites Market include ZYVEX TECHNOLOGIES, Cabot Corporation, PlasmaChem GmbH, Nanocyl SA, Evonik Industries AG, Powdermet Inc., Arkema, Celanese Corporation, Inframat Corporation, eSpin Technologies, Inc., Showa DenkK.K., RTP Company, Nanophase Technologies Corporation, Nanocor Inc., DuPont, Briggs Automotive Company (BAC) and Gnanomat.

Key Developments:

In October 2020, Gnanomat launched twgraphene-based nanocomposites namely “Graphene-Manganese Oxide nanocomposite” and “Graphene-Zinc Oxide nanocomposite”. These products are used in pseudocapacitors, electrodes for energy storage devices, catalyst and others.

In July 2019, Briggs Automotive Company (BAC) collaborated with Haydale tincorporate these composites in automotive body panels. Haydale announced that its graphene-enhanced prepreg has been assimilated in the automotive body panels and composite tooling in the new BAC MonR.

Types Covered:
• Carbon Nanotubes
• Nanoclay
• Graphene
• Nanofiber
• Metal/Metal Oxide
• Expanded Graphite
• Ceramic
• Recycled Paper
• Fullerene Fillers
• Recycled Fiber
• Other Types

Materials Covered:
• Non-polymer
• Polymer
• Other Materials

End Users Covered:
• Automotive
• Electrical & Electronics
• Semiconductors
• Packaging
• Medical
• Corrosion Protection
• Aviation
• Coatings
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements