New York, NY -- (SBWIRE) -- 12/23/2020 -- The nanoclays market is set to attain a valuation of USD 5.34 billion by 2027, registering a CAGR of 11.9%, according to the latest report by Reports and Data. The applications of nanoclays are widespread in several industries, including flame retardants, packaging, automotive, and paints and coatings.

Nanoclays are nanoparticles that are chemically synthesized or occur naturally as inorganic minerals. These are used as adhesives for polymers as they enhance their barrier, thermal, and mechanical properties. The growing demand from the packaging, as well as coating industries, is expected to lead to a surge in demand for Nanoclays as these provide high performance and hygienic properties.

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Key participants include:

Southern Clay Products Inc., FCC China, Nanocor Corporation, Techmer, Kowa Company Ltd., Elementis Specialties, Unicoop, Sun Chemical, Kunimine Industries, and Ube Industries, and Mineral Technologies Inc., among others.

Market Drivers:

The major driving force for the development of the nanoclays market is the growth of the construction industry. The material is being used in various industries due to its properties such as mechanical strength, improved clarity, thermal stability, and chemical resistance. This also drives the market, which also makes it suitable for various commercial applications. Nanoclays acts as an effective nanofillers and therefore used massively in the packaging industry. The growing use of cosmetics worldwide leads to escalating market size for Nanoclays.

Regional Analysis:

According to the report, the North American region dominated the nanoclays market worldwide, being the largest consumer and producer of nanoclays. The region is also experiencing a high growth rate in the construction and the aerospace industries, due to which there is a higher consumption of nanoclays, thus leading to the market growth in the region. The Asia Pacific region may grow at a CAGR of 12.1% in the projected years. This is due to the high demand from the paint and coatings and automotive industries in the region. The increasing disposable incomes is also a key factor for improvements in consumer lifestyles, thus leading to high demand for the product.

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Further key findings from the report suggest:

-Vermiculite is a type of Nanoclay. It has the property of being porous and can easily absorb water. It can hold up to 3 to 4 times its weight in water. Hence, it is known to be an effective growing medium. It finds applications in making compost with peat or coir, as it creates an ideal situation for plant growth,
The Offline segment is forecasted to grow at a CAGR of 11.6% in the forecast period. This is primarily due to consumers wanting to physically examine the product before purchasing to make sure it fits their requirements.
-In the end-user segment, the flame retardants segment is forecasted to grow with a CAGR of 11.7% in the forecast period. The product is used as it is environment friendly and does not lead to the formation of toxic volatiles and by-products, as is the case with other alternatives.
-The Middle East and Africa are forecasted to grow at a CAGR of 11.6% in the forecast period. This is due to the presence of countries like South Africa, the UAE, and Saudi Arabia, where industries, such as automotive, aviation, and packaging, are witnessing growth, thus increasing the demand for Nanoclays.
-K. and Germany are among the largest consumers of Nanoclays, primarily due to the presence of many end-use industries in the region. Increasing awareness regarding curtailing carbon emissions in the region is also driving the market demand for Nanoclays…Continued

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