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Nanocomposites play a significant role in one of the most promising technologies known as nanotechnology. Worldwide demand for nanocomposites is increasing rapidly in packaging, automotive, electrical, and other applications due to their superior thermal, electrical conductive and other properties. Development of industry related nanocomposites with enhanced features and expanding research activities in development of new nanocomposites are some of the factors that would drive nanocomposites market in the coming years.
Nanocomposites display enhanced physical, thermal and other unique properties, which assist in achieving high-level performance across various applications. They have properties that are superior to conventional microscale composites and can be synthesized using simple and inexpensive techniques. Continuous demand from different end-use sectors, development of advanced and superior nanocomposites would stimulate their growth. Need for new and better nanocomposites by end users is one of the major reasons expected to drive the development of new array of nanocomposites. Identifying potential markets, intensifying research activities, and government funding for R&D operations constitute major factors in the commercialization of nanocomposites. A few nanocomposites have already reached the marketplace, while a few others are on the verge, and many continue to remain in the laboratories of various research institutions and companies.
Global nanocomposites market is projected to reach 989 million pounds by the end of the decade, as stated in a report published by Global Industry Analysts, Inc. United States and Europe dominate the global nanocomposites market, with a collective share of over 80% of the volume sales for 2008. The markets are also projected to witness rapid growth, driven by enhanced volume consumption of nanocomposites in various applications. Research institutions and companies are engaged in the exploration of efficient methods for developing nanocomposites in large volumes, and at lower cost.
Applications of nanocomposite plastics are diversified, with automotive and packaging accounting for a majority of the consumption. Increased R&D activities and advent of innovative materials is expected to widen the application areas for nanocomposites. Packaging segment represents the largest end-use market for nanocomposites in the world, with consumption estimated at 284 million pounds for 2008. Automotive segment is projected to generate the fastest demand for nancomposites during the period 2001-2010. Rise in demand and easy accessibility of nanocomposites would lead to their extensive usage in a wide range of applications.
Nanocomposite research is widespread and is conducted by companies and universities across the globe. Several global plastic suppliers have already commercialized products based on nanocomposite materials, with majority of the efforts focused on either nylons or polyolefins. Other industries are also optimistic about the future role of these novel materials, attributed to the growing volume of research studies being conducted across the world. The development of innovative nanocomposite polyolefins, and an array of other resin matrixes and nanofillers is also expected to bolster the market scenario. Technological advancements would reduce manufacturing costs, enabling the development of low-cost nanocomposites.
Major players profiled in the report include 3M ESPE, Arkema Group, BASF AG, Cabot Corporation, Cyclics Corporation, DSM Somos, Du Pont (E.I) De Nemours & Company, Elementis Specialties Inc, eSpin Technologies Inc., Evonik Degussa GmbH, Foster Corporation, Hybrid Plastics, Industrial Nanotech Inc, Inframat Corporation, InMat Inc, Nanocor Incorporated, Nanodynamics Inc, Nanoledge SA, Nanophase Technologies Corporation, Nanova LLC, Powdermet Inc, Showa Denko K.K., Rockwood Additives Ltd, TNO, Unitika Ltd, and Zyvex.
The report titled "Nanocomposites: A Global Strategic Business Report" published by Global Industry Analysts, Inc. discusses the prevailing trends, issues, demand forecasts, and activities that affect the industry. The nanocomposites market is analyzed over the period 2001-2015 for United States, Europe, and Rest of World.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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Global Industry Analysts, Inc.
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