New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Polymer Nanocomposites Global Market Report 2023" - https://www.reportlinker.com/p06466521/?utm_source=GNW
, Makevale Group Ltd, Nanoforce Technology Limited, Nanocomposites Inc, Grando Group, Formaplex, Swift Composites, and Reliance Composites Solutions.
The global polymer nanocomposites market is expected to grow from $10.74 billion in 2022 to $12.57 billion in 2023 at a compound annual growth rate (CAGR) of 16.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The polymer nanocomposites market is expected to reach $23.34 billion in 2027 at a CAGR of 16.7%.
The polymer nanocomposites market consists of sales of carbon nanoparticles, nanostructured materials, and polymer matrix.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A polymer nanocomposite refers to a composite material made of at least one nanometrically scaled dimension of an inorganic dispersive phase and a polymer matrix. Polymer nanocomposites are widely used in packaging, defense systems, sensors, information industries.
Asia-Pacific was the largest region in the polymer nanocomposites market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in polymer nanocomposites report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of nanomaterials used in polymer nanocomposites are nanoclays, carbon nanotubes, nanofibers, nano oxides, and others.Nano clays refer to layered mineral silicate nanoparticles.
The types of polymer includes are epoxy resin, polyethylene, polypropylene, and others, which are used by major end-users are automotive and aerospace, electrical and electronics, packaging, biomedical, paints and coatings, and others.
Increased demand in the automotive sector is expected to propel the growth of the polymer nanocomposites market.The automotive industry encompasses any business and endeavours 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.
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.
In May 2021, Arkema S.A., a France-based chemical manufacturing company, acquired Agiplast., for an undisclosed amount. With this acquisition, Arkema S.A. will become the first fully integrated high-performance polymer manufacturer, providing both bio-based and recycled materials. Agiplast is an Italy-based manufacturer of plastic compounds and regenerator of high-performance polymers, in particular specialty polyamides and fluoropolymers.
The countries covered in the polymer nanocomposites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The polymer nanocomposites market research report is one of a series of new reports that provides polymer nanocomposites market statistics, including polymer nanocomposites industry global market size, regional shares, competitors with a polymer nanocomposites market share, detailed polymer nanocomposites market segments, market trends and opportunities, and any further data you may need to thrive in the polymer nanocomposites industry. This polymer nanocomposites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466521/?utm_source=GNW
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