Nanocomposites (Carbon Nanotubes, Polymer Metal Fiber, Nanofibers, Graphene, Nanoplatelet and Others) Market for Automotive, Aviation, Electronics, Energy, Construction, Healthcare, Plastics, Military, Consumer Goods and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
Albany, NY -- (SBWIRE) -- 04/20/2015 -- Shift of focus towards weight reduction and vehicle safety in the world of automobiles is a prominent factor that drives the global nanocomposites market. As per the conventional understanding of the word, nanocomposites are multi-layered materials occurring in two- or three-dimensional phases. Nanocomposites comprise layers no more than 100 nanometers thick. Ongoing trends indicate that, at present, the global nanocomposites market is characterized by continuous research and innovation.
In 2011, the global nanocomposites market stood at US$1.91 billion in terms of revenue. The market, however, is anticipated to reach a market value of US$5.91 billion by 2018, growing at a healthy CAGR of 18% during the forecast period 2012-2018. The global nanocomposites market is segmented on the basis of product type, end users, and geography. On the basis of product type, this market is segmented into polymer metal fiber composites, carbon nanotube nanocomposites, graphene nanocomposites, nanofiber nanocomposites, nanoplatelet nanocomposites, and others.
Nanocomposites: Widely Used Component across Numerous Industry Verticals
As mentioned earlier, much of the demand for nanocomposites is derived from the growing automobiles market. However, this industry is just one end user amongst several others. Surging demand for nanocomposites is also observed from industries such as energy, military, consumer goods, environment and water management, semiconductors, aviation, packaging, plastics, construction, healthcare, and, most importantly, electronics.
Most widely preferred filler materials in the nanocomposites market are carbon nanotubes, clay, graphene, glass, and plastics. Metal powders, ceramics, and polymeric resins are commonly used binding agents in nanocomposites. Montmorillonite and Laponite are two types of nanoclays that are used as filler materials in the global nanocomposites market. The global market for nanoclays is expanding substantially owing to high demand from numerous end-use industries.
What are the Opportunities for further Expansion of the Global Nanocomposites Market?
Since the nanocomposites market derives considerable demand from a host of industries, it can be said that there are several opportunities for this market to reach an optimum level of development. The unique physical properties of nanocomposites make them an extensively applied material across several industry verticals. The construction industry in particular consumes huge quantities of nanocomposites.
Also, high demand from industries such as semiconductors and electronics in addition to the construction industry is expected to drive the global nanocomposites market in the years to come. This market will be marked by higher product sales during the forecast period. The other factors fuelling the nanocomposites market are surging demand for raw materials that are bio-based and increasing application scope in areas such as defense and military.
Industrialization to Propel Asia Pacific Nanocomposites Market
Geographically, the global nanocomposites market is segmented into Asia Pacific, North America, Europe, and Rest of the World. In 2011, North America was the dominant regional player in the global nanocomposites market with a market share of almost 40%. Vital industries such as construction, buildings, semiconductors, and electronics propel the North America market for nanocomposites.
In terms of volume, North America leads the global nanocomposites market. As regards the sale of nanocomposites, Europe is a very promising market. The Europe nanocomposites market will grow robustly during the forecast period.
Owing to better infrastructure and greater industrialization, it is anticipated that the Rest of the World and Asia Pacific segments will be lucrative markets for nanocomposites. Factors such as environmental issues, high costs, and emergence of technology-based processes in some end-use industries will hamper the growth of this market.
The prominent companies in the nanocomposites market are Cyclics Corporation, Unidym, Inc.,
InMat Inc., eSpin Technologies Inc., Zyvex Technologies, Arkema SA, DSM Somos, Powdermet Inc., Nanocor Incorporated, Cabot Corporation, BASF SE, E.I. du Pont de Nemours & Company (DuPont), Evonik Degussa GmbH, Foster Corporation, Rockwood Additives Ltd.,
Showa Denko K.K., Elementis Specialties Inc., Hybrid Plastics Inc., Hyper-Therm High-Temperature Composites Inc., and Inframat Corporation.
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