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The global nanocomposites market size is projected to reach USD 14.34 billion by the end of 2027. 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.
Nanocomposites are materials that comprise nanosized particles into a tightly packed matrix. They are products that serve diverse applications, accounting to their exceptional properties. The massive investments in the research and development of efficient products is consequential to the increasing applications and subsequently rising demand for the product across the world. The properties of nanocomposites such as good electric conductivity, high thermal stability, and excellent mechanical strength will lead to a wider application scope across the world. The increasing applications of nanocomposites across diverse industry verticals across the world will emerge in favor of market growth. These products exhibit high performance properties that allow unique combinations that are favorable inn several biomedical applications.
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Increasing Research Activities have Yielded a Few Exceptional Products
The report highlights a few of the major industry developments of recent times and discusses their impact on the growth of the overall market. It is observed that the increasing applications of nanocomposites are consequential to the increasing investments in research activities across the world. In July 2019, a group of researchers at the University of California and the University of Hawaii have introduced a new theory indicating the use in a new application domain. The researchers introduced a new concept wherein they synthesized nanocomposites for use in 3D printing. Increasing number of such research activities that have yielded diverse applications will provide impetus to the growth of the market in the foreseeable future.
Increasing Applications across Packaging Industry Will Emerge in Favor of Market Growth
Accounting to the increasing applications across diverse industry verticals, companies in the nanocomposites have benefited significantly even with a small regional presence. The increasing investments in the research and development of efficient products have yielded a few exceptional applications. The increasing use of the product in the packaging industry will create several growth opportunities for the companies in this market.
Major Companies are Focused on Strategic Initiatives
The report highlights a few of the major companies across the world and discusses the strategies adopted by large scale companies. It is observed that several companies are looking to implement strategic initiatives with the aim of establishing a stronghold in the market. Company collaborations are an increasing trend among major companies across the world.
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
July 2020 – PPK, an advanced material company, partnered with Geelong’s Deakin University to develop boron nitride nanotubes (BNNT) for new dental nanocomposites.
The global market is segmented on the basis of:
Value (USD Billion)
Type; Product; Application; and Geography