Nanocomposites Market Worth $11.3 Billion by 2027 At A Growth Rate of 15.2%
Growing Demand For Nanocomposites Market In The Automotive Industry
HYDERABAD, TELANGANA, INDIA, September 26, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that The Nanocomposites Market size is forecast to reach US$11.3 billion by 2027, after growing at a CAGR of 15.2% during 2022-2027. The Nanocomposites are materials created through the mixing of several components at the nanoscale, which gives them unusual properties and unique design possibilities. According to the U.S. Census Bureau, Construction spending during July 2021 was estimated at a seasonally adjusted annual rate of US$1,568.8 billion, which is above the revised June estimate of US$1,563.4 billion. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways :
1. The Asia Pacific region is expected to grow at a high CAGR of 16.8% during the forecast period 2022-2027. The growing demand from the medical and automotive industry is supporting the market growth for Nanocomposites s in the region.
2. Since nanotechnology has developed rapidly in the past few years, the study of Nanocomposites has become increasingly important to developing new materials for advanced applications. Nanocomposites are the best choice to meet the growing demands for multifunctional materials due to their versatility as well as their high degree of integrated association.
3. The impact of Nanocomposites on the world economy and business is expected to be immense. One crucial aspect is that it is likely to benefit a variety of various sectors in the economy including electronics and electrical industries, chemical industries, transportation sectors, health care organizations, and most importantly, environmental protection.
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Segmental Analysis :
1. Polymer Nanocomposites containing carbon nanotubes and graphene are now widely evaluated for the development of smart, active, and intelligent packaging to improve food quality and safety, solve food storage dilemmas, and provide information about food quality to consumers. The growing demand for packaged food is supporting the market growth for nanocomposites.
2. Polymers can be made to perform significantly better by incorporating nanofillers in low concentrations. This can be achieved by incorporating Nano filler molecules. Additionally, antimicrobial and antioxidant properties can be introduced, which are vital for food packaging.
3. The packaging industry segment accounted for approximately 30% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. For packaging applications, graphene nanoparticles and carbon nanotubes are attractive materials for improving mechanical properties, barrier performances, and functional properties of biodegradable polymers.
4. Asia Pacific region held the largest share in the Nanocomposites s market in 2021, up to 36%, owing to the rapid growth in construction, packaging, and automotive industries in the region. As a result of overproduction by Chinese companies, graphene supply currently exceeds.
Competitive Landscape :
The top 5 players in the Nanocomposites Industry are –
1. Nanocor Inc.
2. E.I. Du Pont De Nemours
3. Zyvex Technologies Inc.
4. Arkema Inc
5. Showa Denko K.K.
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Related Reports :
A. Polymer Nanocomposites Market
B. Carbon Filler Based Nanocomposite Market
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