Nanocomposites Market Demand Analysis in 2020, Global Revenue, Top Companies Growth Forecast to 2027
The global nanocomposites market size is projected to reach USD 14.34 billion by the end of 2027. The increasing applications of the product across diverse industry verticals will emerge in favor of market growth. 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 & Industry 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 Geography Forecast, 2020-2027” the market was worth USD 4.32 billion and will exhibit a CAGR of 16.3% during the forecast period, 2020-2027.
Nanocomposites
are substances that possess properties that cater to applications across
diverse industry verticals. The massive investments in the research and
development of efficient products will emerge in favor of growth of the overall
market in the coming years. The increasing applications of the product have
attracted huge investments from large scale companies across the world. The
properties of nanocomposites such as good electric conductivity, high thermal
stability, and excellent mechanical strength have fuelled the demand for the
product across the world. The increasing uses of nanocomposites in the
biomedical industry will bode well for the growth of the overall nanocomposites
market in the foreseeable future.
Covid-19
Pandemic to Create Several Growth Opportunities for Nanocomposite Businesses
The
recent coronavirus outbreak has had a massive impact on several economies
across the globe. Due to the rapid spread of the disease, several countries are
looking to implement strict measures with a view to controlling the spread of
the disease. The efforts taken to curb the spread of the disease have limited
the growth of the businesses across the world. Despite the barriers set by the
Covid-19 pandemic, the nanocomposites market will derive significant growth
from this due to the rise in demand for packaging material across the world.
Due to the increase in deliveries across food supplies and other industries
will emerge in favor of market growth. Besides the food industry, the
electronics industry will also witness significant growth due to the recent
pandemic.
Increasing
Number of Company Collaborations will Emerge in Favor of Market Growth
The
report encompasses several factors that have contributed to the growth of the
overall market in recent years. Accounting to the increasing demand for
the product, there is a healthy market competition across the world. The strong
market competition has encouraged companies to adopt newer strategies that have
helped them establish a stronghold in the market. In July 2020, PPK announced
that it has partnered with Geelong’s Deakin University for the development of a
new product integrated with nanocomposites. The companies will develop boron
nitride nanotubes (BNNT) for new dental nanocomposites. Increasing number
of such company collaborations will have a huge impact on the growth of the
overall market in the forthcoming years.
Asia
Pacific to Emerge Dominant; Presence of Several Large Scale Companies will
Emerge in Favor of Market Growth
The
report analyzes the ongoing market trends across North America, Asia Pacific,
Europe, the Middle East & Africa, and Latin America. Among all regions, the
market in Asia Pacific is projected to emerge dominant in the coming years. The
increasing use of nanocomposites by large scale companies in the Asia Pacific
will fuel the demand for the product across the world. The increasing
investments in the research and development of efficient products will also
emerge in favor of market growth. Additionally, the increasing use of
nanocomposites in the electronic industry will have a huge impact on the growth
of the regional market. As of 2019, the market in Asia Pacific was worth USD
1.65 billion and this value is projected to rise at considerable pace in the
coming years.
Browse
In-depth Summary of This Research Insights@ https://www.fortunebusinessinsights.com/nanocomposites-market-104041
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
Industry
Developments:
July
2019: Researchers from the University of California, Santa Barbara and the
University of Hawaii have synthesized nanoparticles that can be used for 3D
printing.
Comments
Post a Comment