Market Research Report

Global Nanocomposites Market Research Report: Forecast (2023-2028)

By Type (Polymer, Ceramic, Metal, Others (Carbon, Hybrid, etc.)), By Product (Carbon Nanotubes, Metal Oxide, Nanoclay, Nanofiber, Graphene, Others (Ceramic, Fullerene Fiber, etc.))..., By End Users (Packaging Automotive Aerospace, Electronics, Energy, Healthcare, Paints & Coatings, Others (Marine, Sports, etc.)), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific), By Company (Arkema Group, Evonik Industries, Zyvex Technologies Inc., Powdermet Inc., RTP Industries, Showa Denko K.K., Nanocyl SA, Toray International Group Ltd., Hyperion Catalysis International, NanoPhase Technologies, Inframat Corporation, Sim Composites, Unitika Ltd., Nano Shine Group, NEI Corporation, Others) Read more

  • Chemicals
  • May 2023
  • 189
  • CM55008

Market Definition

Nanocomposites are materials that incorporate nanoscale particles, such as nanoparticles or nanofibers, into a matrix of standard material, which can be a polymer, metal, ceramic, etc. This process increases the mechanical strength & improves thermal stability, electrical conductivity, and barrier properties of nanomaterials, making them suitable for various applications in different industries such as automotive, electronics, packaging, aerospace, etc.

Market Insights & Analysis: Global Nanocomposites Market (2023-28)

The Global Nanocomposites market is projected to grow at a CAGR of around 15.95% during the forecast period, i.e., 2023-28, owing to the unique properties & performance advantages compared to conventional materials. The lightweight & high-performance material made with them is augmenting the suitability of the material in a large number of industries ranging from packaging, automotive, energy, and defense. The continuous growth in these industries across different countries, such as Brazil, Egypt, India, etc., is forming a positive market outlook. Globally, the energy storage sector is witnessing a high rate of development in response to the growth in renewable energy generation. For instance,

  • In 2021, according to International Energy Agency, the installed storage capacity across the world is predicted to expand by around 56% to reach over 270GW by 2026.
Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 15.95%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, South-East Asia, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa: GCC, Rest of Middle East & Africa
Key Companies Profiled PPG Industries Inc., Akzo Nobel N.V., Axalta Coating System, Sherwin-Williams Company, Jotun Group, RPM International Inc., Arkema S.A., Nippon Paint Holdings, IGP Powder Coatings, 3M, Tiger Coatings GmbH & Co.KG, Kansai Nerolac Paints Ltd., A & I Coatings, Others
Unit Denominations USD Million/Billion

 

Their use in the manufacturing of lithium-ion batteries, supercapacitors, fuel cells, etc., is thus creating opportunities for the development of the market worldwide. Additionally, continuous inventions in technology, to come up with novel solutions with enhanced properties to cater to the differing demands of various industries combined with collaborations between research institutions & the government is expanding the market across the globe. However, certain challenges faced by the industry, such as high production costs, regulatory issues, and safety issues related to them, are expected to hinder the market's progression.

Also, sustainable nature, like recycled or bio-based, is making them a prominent choice for improving the number of users in the market. Hence, these would become a crucial component of industries, including automotive, construction, and packaging, where reduction of environmental impact is vital. Further, the emergence of the application of nanocomposites in different areas with technological advancements would build a positive framework for the market in the forthcoming years.


Global Nanocomposites Market Research Report: Forecast (2023-2028)

Global Nanocomposites Market Key Drivers:

Development of the E-commerce Industry to Push the Demand - Advancements in the telecom industry combined with raising digitalization has been leading to the growth of the e-commerce industry worldwide. Governments of different countries have started taking several initiatives, such as setting up 5G infrastructure, digitalization schemes, etc., to create a robust technological & digital infrastructure to facilitate fast economic development in their countries. Thus, e-commerce players have been inflating their market to serve customers from different regions, such as the Middle East & Africa, and Asia-Pacific, creating an increasing demand for the packaging industry. Further, the growing preference of consumers for online shopping instead of the numerous availability of options & convenience is facilitating the development of the e-commerce industry.

High suitability of packaged materials for shipping & transportation purposes, which ensures the safety & quality of products, is enhancing the demand from the packaging industry to improve overall customer experience. Along with this, e-commerce platforms provide customized packaging solutions to meet the demand for different products, such as perishable products, fragile items, etc., further leading to the blossoming of packaged products.

Moreover, the use of online platforms as a branding & marketing tool by various companies is also augmenting the value of packaging among consumers, as good packaging is often associated with high quality. Thus, the development of specialized packaging advertisements, such as branded boxes & sustainable packaging, would accelerate the industry growth, further impacting the market positively in the following years.

Global Nanocomposites Market Possible Restraint:

Environmental & Health Impacts to Hamper the Growth  - Nanoparticles utilized in nanocomposites have the potential to accumulate in living creatures, and their toxicological qualities make them hazardous to both humans & the environment. The particles can very easily accumulate in water bodies, sediments, and soil, having adverse effects on aquatic ecosystems. Also, direct skin contact with them can result in skin irritation, sensitization, and other side effects. Further, the lack of standardized regulations, related to them adds up to the possibility of the occurrence of health & environmental hazards due to the non-follow-up of regulatory measures, therefore creating a negative impact on the market.

Global Nanocomposites Market Key Trends:

Emergence of Bio-based Nanocomposites - The move towards sustainability has resulted in an increase in the number of innovations carried out by researchers etc., to come out with an environment-friendly solution to replace petroleum-based materials. The augmented rate of biodegradability, biocompatibility, low density, easy preparation, suitability for modifications, and inexpensiveness related to bio-based solutions are making them more attractive to the key players in the market. For instance:

  • In 2022, AIMPLAS, a solution provider for the plastic industry, announced its plan to start producing bio-based nanomaterials for food packaging & agricultural solutions through its reactive extrusion pilot line as a part of the BIOMAC project of the European Union.

Hence, such developments in the industry are impacting the market positively as more & more end-user industries are inclining towards the usage of nanocomposites with sustainability benefits. Further, these innovations would strengthen the industry's hold in the coming years as the world would move towards sustainability.

Global Nanocomposites Market (2023-28): Segmentation Analysis

Global Nanocomposites Market report by Markntel Advisors includes segmentation analysis based on Type, and End User. This breakdown allows businesses to identify specific market segments and tailor their marketing and product strategies accordingly, maximizing their chances of success in the Global Nanocomposites Market.

Based on the Type:

  • Polymer
  • Ceramic
  • Metal
  • Others

Of these, Polymer Nanocomposites gained high traction in the market, due to the ease involved in the processing of them. This can be done by the usage of a wide number of techniques, such as injection molding, extrusion, etc. The low amount of cost involved in these techniques expanded the adoption of them by manufacturers compared to ceramic & metal-based. Moreover, the wide range of properties, such as thermal stability, electrical conductivity, mechanical strength, and others, is resulting in their utilization in a range of industries, including automotive, biomedical, electronics, etc., therefore fueling the market growth.

Based on End User:

  • Packaging             
  • Automotive
  • Aerospace
  • Electronics
  • Energy
  • Healthcare
  • Paints & Coatings
  • Others (Marine, Sports, etc.)

Among these, the Packaging sector created a significant demand for nanocomposites owing to the high requirement by different industries such as food & beverages, electronics, pharmaceuticals, etc. Continuous development of these sectors in various regions of the world, especially in Asia-Pacific and the Middle East & Africa, is responsible for the growth of the packaging industry. Additionally, the maturation of the e-commerce sector combined with digitalization is opening new opportunities for the packaging industry.

The novel concept of customized & specialized packaging, which is being used by businesses to attract consumers as they relate it to the quality of the product, is further contributing to the growth of the packaging industry, hence impacting the nanocomposite market positively. Moreover, the rising awareness about hygiene & sanitation is augmenting the need for packaging in the food & beverage industry, which would drive the market in the forecast years.

Global Nanocomposites Market Regional Projection

Geographically, the market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Among these, the Asia-Pacific acquired a substantial share of the Global Nanocomposites market owing to the large-scale economic development in countries such as India, China, South Korea, etc., which is leading to the development of various industries like construction, automotive, manufacturing, and others. The governments of these countries have been constantly engaged in building industrial hubs, carrying out favorable business policies to lure high amounts of investments & the global multinational corporations in the region.

Consequently, such companies have also been establishing their presence in the region to captivate one of the largest shares of the population of the world present in Asia-Pacific. Further, they are constantly involved in bringing out novel technologies to cater to the varying needs of the immense population. Hence, the high rate of adoption of advanced technologies on account of the wide presence of tech-savvy inhabitants coupled with the continuous development of the industries would accelerate the demand in the Asia-Pacific region.

Global Nanocomposites Industry Recent Developments 

  • 2022: Powdermet Inc. started the expansion of its production capacity by 30,000sq. ft. Under this, the company unveiled its plan to add 6,000sq. ft., for extrusion operation & the creation of a new structure in 24,000sq. ft., for housing expanded magnetic materials & lightweight sheet & foil production.

Gain a Competitive Edge with Our Global Nanocomposites Market Report

  1. Global Nanocomposites Market report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics and make informed decisions.
  2. This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecasts, companies can align their strategies and stay ahead of the competition.
  3. Global Nanocomposites Market report aids in assessing and mitigating risks associated with entering or operating in the market.
  4. The report would help in understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.

Frequently Asked Questions

   A. The Nanocomposites Market is projected to grow at a CAGR of around 15.95 % during 2023-28.

   A. Development of the e-commerce industry is expected to drive the Nanocomposites Market during the forecast period, 2023-2028.

   A. Arkema Group, Evonik Industries, Zyvex Technologies Inc., Powdermet Inc., RTP Industries, Showa Denko K.K., Nanocyl SA, Toray International Group Ltd., Hyperion Catalysis International, NanoPhase Technologies Inframat Corporation, Sim Composites, Unitika Ltd., Nano Shine Group, and NEI Corporation are the top players in the Nanocomposites Market.

   A. Polymer Nanocomposites is the leading type in the Nanocomposites Market.

   A. Asia-Pacific would present growth prospects in the Nanocomposites Market during 2023-28.

   A. The emergence of bio-based nanocomposites is the key trend shaping the growth of the market.

   A. Packaging, Automotive, Aerospace, Electronics, Energy, Healthcare, and Paints & Coatings sectors are the industry's potential end-user.

   A. Environmental & health impacts of nanocomposites is the possible restraint affecting the growth of the Nanocomposites Market.

Global Nanocomposites Market Research Report (2023-2028) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Nanocomposites Market Trends & Developments
  5. Global Nanocomposites Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Nanocomposites Market Hotspots & Opportunities
  7. Global Nanocomposites Market Regulations & Standards
  8. Global Nanocomposites Market Supply Chain Analysis
  9. Global Nanocomposites Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Type
        1. Polymer
        2. Ceramic
        3. Metal
        4. Others (Carbon, Hybrid, etc.)
      2. By Product
        1. Carbon Nanotubes
        2. Metal Oxide
        3. Nanoclay
        4. Nanofiber
        5. Graphene
        6. Others (Ceramic, Fullerene Fiber, etc.)
      3. By End Users
        1. Packaging 
        2. Automotive
        3. Aerospace
        4. Electronics
        5. Energy
        6. Healthcare
        7. Paints & Coatings
        8. Others (Marine, Sports, etc.)
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      5. By Company
        1. Competition Characteristics
        2. Revenue Shares
  10. North America Nanocomposites Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Type
      2. By Product Type
      3. By End Users
      4. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    4. Canada Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    5. Mexico Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
  11. South America Nanocomposites Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Type
      2. By Product Type
      3. By End Users
      4. By Country
        1. Brazil
        2. Rest of South America
    3. Brazil Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
  12. Europe Nanocomposites Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Type
      2. By Product Type
      3. By End Users
      4. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. Germany Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    4. The UK Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    5. France Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    6. Italy Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    7. Spain Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
  13. Middle East & Africa Nanocomposites Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Type
      2. By Product Type
      3. By End Users
      4. By Country
        1. GCC
        2. Rest of Middle East & Africa
    3. GCC Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By End Users
  14. Asia-Pacific Nanocomposites Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Type
      2. By Product Type
      3. By End Users
      4. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. South-East Asia
        6. Rest of Asia-Pacific
    3. China Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    4. Japan Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    5. India Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    6. South Korea Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
    7. South-East Asia Nanocomposites Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
      2. Market Share & Analysis
        1. By Type
        2. By End Users
  15. Global Nanocomposites Market Key Strategic Imperatives for Growth & Success
  16. Competition Outlook
    1. Competition Matrix
      1. Brand Specialization
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles
      1. Arkema Group
      2. Evonik Industries
      3. Zyvex Technologies Inc.
      4. Powdermet Inc.
      5. RTP Industries
      6. Showa Denko K.K.
      7. Nanocyl SA
      8. Toray International Group Ltd.
      9. Hyperion Catalysis International
      10. NanoPhase Technologies
      11. Inframat Corporation
      12. Sim Composites
      13. Unitika Ltd.
      14. Nano Shine Group
      15. NEI Corporation
      16. Others
  17. Disclaimer


Nanocomposites Market Segmentation