Nanocomposites Market Growth Insight, Share, Emerging Technologies, Share, Competitive, Regional, And Global Industry 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.
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.
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Research Insights@ https://www.fortunebusinessinsights.com/nanocomposites-market-104041
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.
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.
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