Growth of theAccording to a latest report by Fact.MR, a market research and competitive intelligence provider on polymer nanocomposites, the market is projected to reach US$ 9 Bn by 2031, surging at a CAGR of 16% over the coming ten years. polymer nanocomposites market is primarily driven by supportive government regulations for use of nanocomposites in packaging and food & beverages, thereby increasing demand from these end-use industries. Polymer nanocomposites are used in the automotive industry to improve the durability of components such as headlamp covers, engine covers, tires, and interior and exterior components. Increase in demand for weight reduction in vehicles to enhance fuel efficiency has further driven demand for nanocomposites.
Asia Pacific emerged as a lucrative market for polymer nanocomposites, and the region is also expected to maintain its dominance over the forecast period. Key countries such as Japan, India, and China are propelling the growth of nanocomposites in the Asia Pacific region.
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Key Takeaways from Market Study
- Market for polymer nanocomposites expected to grow 1.8X in value by 2031.
- Demand for clay-based nanocomposites to surge at a CAGR of 20%
- Market in North America holds close to 35% of global revenue share.
- Market in China expected to reach US$ 3.3 Bn by 2031.
- Industry in Japan expected to progress at 18.5% CAGR across assessment period.
- Demand for carbon nanotube-based nanocomposites to heighten over coming 10 years.
- Application of polymer nanocomposites in packaging industry to rise over coming years.
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Key Segments Covered in Polymer Nanocomposites Industry Research
- Carbon Nanotubes
- Metal Oxide
- Polymer Nanocomposites Used in Packaging
- Polymer Nanocomposites Used in Automotive
- Polymer Nanocomposites Used in Electronics & Semiconductors
- Polymer Nanocomposites Used in Aerospace & Defence
- Polymer Nanocomposites Used in Coatings
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The global polymer nanocomposites market is fragmented with a few major players. Business expansion is the leading strategy adopted by key players in this market in order to strengthen their foothold across the landscape.
Major companies include Arkema Group, Evonik Industries AG, Nanocyl SA, Nanophase Technologies Corporation, and SHOWA DENKO K.K.
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