The Polymer Nanocomposites Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Polymer Nanocomposites Global Market Report 2024, The polymer nanocomposites market size has grown rapidly in recent years. It will grow from $12.57 billion in 2023 to $14.69 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to material advancements, industrial applications, research and development, environmental concerns, cost-efficiency.
The polymer nanocomposites market size is expected to see rapid growth in the next few years. It will grow to $27.57 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to market expansion, global demand, customization and tailoring, stricter regulations, investments in research, integration in key industries. Major trends in the forecast period include technological advancements in processing techniques, growing demand for lightweight materials, rising environmental concerns, expanding applications in various industries, surge in nanofiller production.
Increased demand in the automotive sector is expected to propel the growth of the polymer nanocomposites market. The automotive industry encompasses any business and endeavors involved in manufacturing motor vehicles, including producing the bulk of components, such as engines and bodywork, tires, batteries, and gasoline. Polymer nanocomposites are primarily employed for interior and exterior vehicle applications in the automobile industry. It is utilized in a variety of applications, including engines and powertrains, suspensions, and braking systems, to reduce vehicle weight and enhance engine economy while delivering comfort and improved driveability. As a result of these considerations, the market for polymer nanocomposites is growing. For instance, in April 2021, according to the reports shared by the European Automobile Manufacturers’ Association (ACEA), a Belgium-based association of leading automobile manufacturers, the global production of automobiles in 2021 was 79.1 million units, an increase of 1.3% compared to 2020. Furthermore, according to Take-Profit.org, a US-based financial and analytical information provider, in March 2023, US car production had increased to 1.87 million units (1870 K units). The volume ranged from 0.01 million units to 9.92 million units, and in Brazil, it increased by 221.835k units from 161.518k units. Therefore, increased demand in the automotive sector is driving the growth of the polymer nanocomposites market.
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The polymer nanocomposites market covered in this report is segmented –
1) By Nanomaterials: Nanoclays, Carbon Nanotubes, Nanofiber, Nano-Oxides, Other Nanomaterials
2) By Polymer: Epoxy Resin, Polyamide, Polyethylene, Polypropylene, Other Polymer
3) By End-user: Automotive And Aerospace, Electricals And Electronics, Packaging, Biomedical, Paints And Coatings, Other End-Users
Technological advancement is a key trend gaining popularity in the polymer nanocomposites market. Major companies operating in the polymer nanocomposites market are focusing on developing new technologies to sustain their position in the market. For instance, in November 2022, Lummus Novolen Technology GmbH, a Germany-based developer of process technologies, launched the Novolen Pure polypropylene (PP) technology, a new grade range of polymers suitable for supporting the production of high-quality products. It is primarily used for automotive, healthcare components, and food packaging materials, and this new non-phthalate process technology provides significant energy savings by delivering an improved hydrogen response with the catalyst. Additionally, for an operator’s process and end-product requirements, the Pure Polypropylene (PP) technology portfolio offers a number of variations, such as high crystallinity homopolymers, ethylene random copolymers, and advanced impact copolymers.
The polymer nanocomposites market report table of contents includes:
1. Executive Summary
2. Polymer Nanocomposites Market Characteristics
3. Polymer Nanocomposites Market Trends And Strategies
4. Polymer Nanocomposites Market – Macro Economic Scenario
5. Global Polymer Nanocomposites Market Size and Growth
….
31. Global Polymer Nanocomposites Market Competitive Benchmarking
32. Global Polymer Nanocomposites Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Polymer Nanocomposites Market
34. Polymer Nanocomposites Market Future Outlook and Potential Analysis
35. Appendix
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