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Global Polymer Nanocomposites Market Size study & Forecast, by Type, by Fiber, by Application and Regional Analysis, 2024-2032

Global Polymer Nanocomposites Market Size study & Forecast, by Type,...

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Global Polymer Nanocomposites Market Size study & Forecast, by Type, by Fiber, by Application and Regional Analysis, 2024-2032
Global Polymer Nanocomposites Market Size...
Report Code
RO3/103/2428

Publish Date
06/Sep/2024

Pages
200
PRICE
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Global Polymer Nanocomposites Market is valued at approximately USD 6.82 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 15.7% during the forecast period 2024-2032. Polymer nanocomposites (PNCs) incorporate nanoparticles or nanofillers into a polymer matrix, forming a Multi-Phase System (MPS). These materials, which consume a significant portion of plastics production, require controlled mixing, dispersion stabilization, and orientation of the filler phase. Alternatively, high-content PNCs can be produced by infiltrating polymers into preformed structures. Polymer nanocomposites offer superior mechanical, thermal, and barrier properties compared to traditional polymers, leading to their widespread adoption in industries such as automotive, aerospace, electronics, and packaging. Furthermore, in the automotive and aerospace industries, there is a concerted effort to enhance fuel efficiency and overall performance by reducing product weight. Polymer nanocomposites present a lightweight substitute for conventional materials such as metals, offering comparable mechanical properties while fulfilling these objectives which are also a major contributor to their market growth & demand.

The use of Bioplastics made from Polymer has increased globally in every industry owing to their nature and characteristics. According to European Bioplastics e.V, In 2024, Bioplastics accounts for approximately 0.5 percent of the total annual plastic production exceeding 400 million tonnes. Moreover, the global bioplastics production capacity is projected to experience substantial growth, rising from approximately 2.18 million tonnes in 2023 to an estimated 7.43 million tonnes by 2028. This expansion is expected to drive an increased demand for polymers.

Focusing on environmental sustainability presents a clear opportunity for the development of polymer nanocomposites using bio-based materials, such as natural fibers and biopolymers, to mitigate environmental impact. This scenario offers an ideal opportunity for growth in the Polymer Nanocomposite Market. Furthermore, the expected increase in the application of Polymer Nanocomposites in the packaging sector for pharmaceuticals and electronic devices presents a promising avenue for market expansion. However, the manufacturing process of polymer nanocomposites typically entails advanced techniques and the inclusion of costly nanoparticles, leading to elevated production expenses in contrast to conventional polymer materials. Moreover, achieving uniform dispersion of nanoparticles within polymer matrices is essential for obtaining desired material properties, posing processing challenges that necessitate specialized equipment and expertise.

The key regions considered for the Global Polymer Nanocomposites Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. The market for polymer nanocomposites in the region has experienced growth due to the implementation of government policies aimed at reducing carbon footprint. Additionally, the demand is bolstered by the region's ample presence of biomedical and packaging manufacturers. Asia Pacific is expected to grow significantly over the forecast period, Due to rapid industrialization, urbanization, and economic expansion, the region has emerged as a pivotal market for polymer nanocomposites. The escalating demand for lightweight, high-performance materials in sectors such as automotive, construction, and electronics has fueled the proliferation of polymer nanocomposites within this region.

Major market player included in this report are:
BASF SE
Huntsman Corporation
Nippon Shokubai Co, Ltd.
Saudi Basic Industries Corporation (SABIC)
Nanocor Inc.
Du Pont De Nemours, Inc.
Zyvex Technologies Inc.
Arkema Inc.
Showa Denko K.K.
Powdermet Inc.
Recent Developments in the Market:
In June 2023, Arkema's expansion of its high-performance polymer portfolio through the acquisition of a controlling interest in PI Advanced Materials underscores the company's commitment to enhancing its capabilities in the Polymer Nanocomposites market. This acquisition, comprising Glenwood Private Equity's 54% stake, facilitates full consolidation of PIAM within Arkema's accounts, while the remaining 46% shares remain listed on the Korean stock exchange.
In May 2023, NIPPON SHOKUBAI Group and Chandra Asri signed an MOU to explore green chemical business opportunities using renewable raw materials. They aim to produce sustainable derivatives such as acrylic acid and Superabsorbent Polymer (SAP) through the production of 'bio' materials such as bio-naphtha and bio-olefins.
In April 2023, Huntsman is showcasing its evolving composite solutions, void fillers, and adhesives for automotive, aerospace, and industrial applications at JEC World 2023. The company is expanding its product range by incorporating biomass and recycled materials, maintaining product performance while reducing CO2 emissions through sustainable sourcing practices.
Global Polymer Nanocomposites Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2024-2032
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Type, Fiber, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Carbon Nanotubes
Metal Oxide
Nanofiber
Nanoclay
Graphene
By Fiber:
Thermoplastics
Thermosetting
By Application:
Packaging
Automotive
Electronics & Semiconductors
Aerospace & Defense
Coatings
Energy
Sports & Healthcare
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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