Global Market Insights, Inc. has launched a report on Polymer Nanocomposites Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Driven by excessive product deployment across numerous end-user applications such as automotive, packaging, electronics, and paints, polymer nanocomposites market size is slated to experience substantial growth over the ensuing years. These materials are created from dispersed nanomaterials into a resin matrix that improves plastic properties. The product also acts as a great substitute for metal parts in the aerospace and automotive industry, which will positively impact polymer nanocomposites industry growth in the coming years.
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The demand for lightweight parts is a key growth factor increasing the global polymer nanocomposites market share from the automotive sector. The demand for lightweight materials in developed regions is estimated to rise, primarily due to the imposition of stringent fuel economy and vehicular emission standards.
This trend is further proliferated by the high penetration of battery electric vehicles across the world, owing to rising Co2 levels from conventional vehicles. Improved battery solutions and infrastructure paired with reduced maintenance cost, due to the absence of complex mechanical parts, will further accelerate the adoption of electric vehicles. EVs increasingly deploy lightweight parts, due to their ability to enhance vehicle performance. Polymer nanocomposites are used to replace several heavy metal parts, which implies that the increasing EV demand is a good sign for global polymer nanocomposites market outlook over the forecast period.
Over the last few decades, polymer nanocomposites have evolved as the most promising materials to be added to the food packaging applications. This is can be credited to various properties such as gas barrier and mechanical or antimicrobial characteristics that help in extending the shelf-life of the product and enhancing its quality. Increasing consumer preference for packaged food and beverages will primarily drive the demand for advanced food packaging, which will significantly impact polymer nanocomposites industry trends over the coming years.
Increasing research and development activities to explore the potential of nanotechnology is another growth factor for polymer nanocomposites industry. A recent study conducted by scientists from the Delft University of Technology and the University of Rochester unveiled the possible use of nanomaterials in developing computer technology and medical equipment. Research in nanotechnology can discover new applications for polymer nanocomposite properties, which could, in turn, benefit global polymer nanocomposites market in the future.
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Polymer nanocomposites are extensively applied in several biomedical applications like prosthesis, hip implants, wound healing, vascular grafts, medical devices, and artificial organs. In terms of bio applications, polymer nanocomposites properties are known to possess numerous advantages such as the availability of synthetic polymer matrices and their convenient and tunable fabrication techniques. For instance, the use of polymer nanocomposite scaffolds for tissue engineering depicts high cell adhesion, biodegradability, and low inflammation upon implantation. Owing to such advantages, the biomedical applications present a wide scope for polymer nanocomposites market.
Based on polymer types, epoxy-resin based nanocomposites are anticipated to grow at a high CAGR between the years 2019 to 2025. This possibility can be credited to its excessive use in electronic applications like ESD coatings, resistive inks, conductive primers, and more. ESD coatings are highly used in furniture, workbenches, and shelving. Burgeoning commercial and industrial infrastructure development will significantly drive the demand for epoxy-resin based nanocomposites.
In terms of regional growth, the North America market has consistently held a profitable position in global polymer nanocomposites market. NNI agencies in the United States have dedicatedly invested in the establishment of multidisciplinary research and education centers focused on nanoscience and nanotechnology. Moreover, the region boasts a well-established market for processed food and beverages. Therefore, the rising demand for nanocomposites from the food packaging industry will further proliferate market growth in the region.
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Meanwhile, the Asia Pacific market is also emerging as a strong contender in the business sphere. The market, driven by India, China, and Japan is witnessing increasing demand for nanomaterials-based products. Nanomaterials find significant use in paints and coatings, which will observe a high demand in the region owing to the burgeoning need for residential and commercial properties, particularly in India and China.
Polymer nanocomposites are seeing increasing demand from numerous industries in recent years. Besides its mechanical properties, polymer nanocomposites-based graphene and nanotubes are being used to improve a wide range of properties, triggering the use of functional materials for an extensive range of high-value applications.
According to a research report by Global Market Insights, Inc., polymer nanocomposites market is anticipated to be worth more than $31 billion by 2025.
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