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Nanocomposites Market Forecasts to 2028 - Global Analysis By Type (Carbon Nanotubes, Nanoclay and Other Types), Material (Non-polymer, Polymer and Other Materials), End User (Automotive, Electrical & Electronics and Other End Users) and By Geography
Estimated Year Value (2022)
US $6.73 BN
Projected Year Value (2028)
US $18.18 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Nanocomposites Market is accounted for $6.73 billion in 2022 and is expected to reach $18.18 billion by 2028 growing at a CAGR of 18.0% during the forecast period. Nanocomposites are materials that are produced by combining various components at the nanoscale, giving them exceptional features and distinctive design opportunities. One of the strongest and longest-lasting materials on the earth is graphene. It has a strong thermal conductivity as well. In light of this, graphene-polymer nanocomposites have demonstrated great promise as functional or structural materials in the future. Products made from nanocomposites are often created using the nanotechnology process. The packaging industry's quick adoption of nanocomposites is propelling market expansion.
According to the 2021 World Investment Report published by UNCTAD, FDI inflows into China increased by 6% in 2020, to USD 149 billion, up from USD 141 billion in 2019. According to the data published by OICA, India produced more than 3.3 million vehicles in 2020.
Increasing applications in the packaging industry
One of the industries that have seen a number of modern-era modifications in the past twenty years is packaging. Films, cartons, boxes, and other packaging materials are frequently made with nanocomposite. Due to its high quality, adaptability, flexibility, high tensile strength, and reduced price when compared to other packaging products, the product is widely used in the packaging industry. The market's expansion has been significantly impacted by rising packaging demand from the food and beverage industry. These products have superior thermal, mechanical, biodegradable, and microbial and other contaminating agent resistance qualities. The market will be driven by the use of intelligent and active food packaging technologies.
High production and processing cost may hinder growth
These composites are specially designed materials that have quickly become important in the nanotechnology industry. Typically, nanoparticles suspended in the matrix are used to create them. By using techniques like chemical vapour deposition, laser ablation, arc discharge, and other procedures that suspend the nano-size particles into the matrix grains, carbon nanotubes can be created. The used machinery and equipment are a little pricey and require a lot of upkeep. To maintain production efficiency and quality, the equipment also needs routine maintenance. As a result, the cost of production and processing goes up.
Rise in automotive industries and rate of urbanization
One of the major drivers of the growth of the global nanocomposites market is the expansion of the automotive industry. There has been an increase in transportation due to urbanisation. A greater number of people are buying cars for their homes. Polymer nanocomposites are utilised extensively in the automobile industry because of their great characteristics for fuel efficiency, high performance, weight reduction of vehicles, and decrease of carbon dioxide emissions. In addition, one of the factors boosting the market for nanocomposites is the growing urban population. The demand for nanocomposites, however, is increased by the expansion of the automobile industry and the urban population.
Harmful to human health
Some nanomaterials have been reported to cause harm to humans. Nevertheless, the evidence has not been established as to whether any type of nanomaterials application, particularly in the food industry, is responsible for this. For safety to be verified, nanomaterials should first be treated as potentially dangerous materials, as recommended by the Institute of Food Science and Technology (IFST). Food and Drug Administration's (FDA's) responsibility includes proving nanoscale products' safety. Although there is no necessity for labelling that specifies whether nanotechnology was utilised in their creation, the FDA cannot simply examine items based on this technology.
Due to the strict regulations set by the local governments and organisations, the ongoing COVID-19 pandemic has significantly impacted the worldwide nanocomposite industry. In some areas, the production of the products has decreased, which has had a big impact on the market. Although this situation has an impact on the industry, certain industries, such food packaging and electronics, have seen a large rise in demand. Due to social distance standards, there has been a significant rise in the need for packaged food items and takeout parcels, which has increased the demand for nanocomposite packaging films and cartons. In addition, the use of e-learning in schools, universities, and other educational institutions is creating a demand potential for touch screen electronics devices including smartphones, laptops, TV displays, and other gadgets.
The carbon nanotubes segment is expected to be the largest during the forecast period
The carbon nanotubes segment is estimated to have a lucrative growth. The mechanical, barrier, and biodegradability of carbon nanotubes and graphene nanoparticles make them intriguing materials for packaging applications. Because of its high heat conductivity and surface area, graphene is the most competitive product in the nanocomposites market. Carbon nanotubes and graphene-containing polymer nanocomposites are currently under intense scrutiny for use in the creation of smart, active, and intelligent packaging. The market expansion for nanocomposites is being supported by the rising demand for packaged food.
The packaging segment is expected to have the highest CAGR during the forecast period
The packaging segment is anticipated to witness the fastest CAGR growth during the forecast period. The mechanical characteristics, barrier performances, and functional qualities of biodegradable polymers can all be enhanced with the use of graphene nanoparticles and carbon nanotubes in packaging applications. The market for packaging is being driven by the booming food and beverage and e-commerce sectors, which is also boosting the market for nanocomposites.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the area's quickly expanding construction, packaging, and automotive industries. Graphene is currently in excess due to Chinese firms' overproduction. The increasing demand for nano-composites from end-use sectors like automotive and electronics & semiconductor in China and Japan as well as the existence of innovative nano-composites manufacturers are what are causing the area to expand. The regional demand is additionally supported by an abundance of labour resources and raw material sources.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the expanding use of these composites in the automotive and medical industries. Continuous research and development aimed at creating durable, lightweight, and non-corrosive materials for auto parts has the potential to make automobiles lighter overall and use less fuel. It is likely to increase demand from different European automakers. Also, the growing geriatric population in European nations will enhance the need for biomedical applications, which will further support the market's expansion.
Key players in the market
Some of the key players profiled in the Nanocomposites Market include ZYVEX TECHNOLOGIES, Cabot Corporation, PlasmaChem GmbH, Nanocyl SA, Evonik Industries AG, Powdermet Inc., Arkema, Celanese Corporation, Inframat Corporation, eSpin Technologies, Inc., Showa Denko K.K., RTP Company, Nanophase Technologies Corporation, Nanocor Inc., DuPont, Briggs Automotive Company (BAC) and Gnanomat.
In October 2020, Gnanomat launched two graphene-based nanocomposites namely “Graphene-Manganese Oxide nanocomposite” and “Graphene-Zinc Oxide nanocomposite”. These products are used in pseudocapacitors, electrodes for energy storage devices, catalyst and others.
In July 2019, Briggs Automotive Company (BAC) collaborated with Haydale to incorporate these composites in automotive body panels. Haydale announced that its graphene-enhanced prepreg has been assimilated in the automotive body panels and composite tooling in the new BAC Mono R.
• Carbon Nanotubes
• Metal/Metal Oxide
• Expanded Graphite
• Recycled Paper
• Fullerene Fillers
• Recycled Fiber
• Other Types
• Other Materials
End Users Covered:
• Electrical & Electronics
• Corrosion Protection
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Nanocomposites Market, By Type
5.2 Carbon Nanotubes
5.6 Metal/Metal Oxide
5.7 Expanded Graphite
5.9 Recycled Paper
5.10 Fullerene Fillers
5.11 Recycled Fiber
5.12 Other Types
6 Global Nanocomposites Market, By Material
6.2.1 Ceramic Nanocomposites
6.2.2 Ceramic-Ceramic Nanocomposites
6.2.3 Metal Nanocomposites
6.3.1 Inorganic/Organic Polymer
6.3.2 Inorganic/Organic Hybrid
6.3.3 Polymer/Layered Silicate Hybrid
6.4 Other Materials
7 Global Nanocomposites Market, By End User
7.3 Electrical & Electronics
7.7 Corrosion Protection
7.10 Other End Users
8 Global Nanocomposites Market, By Geography
8.2 North America
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.5 Other Key Strategies
10 Company Profiling
10.1 ZYVEX TECHNOLOGIES
10.2 Cabot Corporation
10.3 PlasmaChem GmbH
10.4 Nanocyl SA
10.5 Evonik Industries AG
10.6 Powdermet Inc.
10.8 Celanese Corporation
10.9 Inframat Corporation
10.10 eSpin Technologies, Inc.
10.11 Showa Denko K.K.
10.12 RTP Company
10.13 Nanophase Technologies Corporation
10.14 Nanocor Inc.
10.16 Briggs Automotive Company (BAC)
List of Tables
1 Global Nanocomposites Market Outlook, By Region (2020-2028) ($MN)
2 Global Nanocomposites Market Outlook, By Type (2020-2028) ($MN)
3 Global Nanocomposites Market Outlook, By Carbon Nanotubes (2020-2028) ($MN)
4 Global Nanocomposites Market Outlook, By Nanoclay (2020-2028) ($MN)
5 Global Nanocomposites Market Outlook, By Graphene (2020-2028) ($MN)
6 Global Nanocomposites Market Outlook, By Nanofiber (2020-2028) ($MN)
7 Global Nanocomposites Market Outlook, By Metal/Metal Oxide (2020-2028) ($MN)
8 Global Nanocomposites Market Outlook, By Expanded Graphite (2020-2028) ($MN)
9 Global Nanocomposites Market Outlook, By Ceramic (2020-2028) ($MN)
10 Global Nanocomposites Market Outlook, By Recycled Paper (2020-2028) ($MN)
11 Global Nanocomposites Market Outlook, By Fullerene Fillers (2020-2028) ($MN)
12 Global Nanocomposites Market Outlook, By Recycled Fiber (2020-2028) ($MN)
13 Global Nanocomposites Market Outlook, By Other Types (2020-2028) ($MN)
14 Global Nanocomposites Market Outlook, By Material (2020-2028) ($MN)
15 Global Nanocomposites Market Outlook, By Non-polymer (2020-2028) ($MN)
16 Global Nanocomposites Market Outlook, By Ceramic Nanocomposites (2020-2028) ($MN)
17 Global Nanocomposites Market Outlook, By Ceramic-Ceramic Nanocomposites (2020-2028) ($MN)
18 Global Nanocomposites Market Outlook, By Metal Nanocomposites (2020-2028) ($MN)
19 Global Nanocomposites Market Outlook, By Polymer (2020-2028) ($MN)
20 Global Nanocomposites Market Outlook, By Inorganic/Organic Polymer (2020-2028) ($MN)
21 Global Nanocomposites Market Outlook, By Inorganic/Organic Hybrid (2020-2028) ($MN)
22 Global Nanocomposites Market Outlook, By Polymer/Layered Silicate Hybrid (2020-2028) ($MN)
23 Global Nanocomposites Market Outlook, By Other Materials (2020-2028) ($MN)
24 Global Nanocomposites Market Outlook, By End User (2020-2028) ($MN)
25 Global Nanocomposites Market Outlook, By Automotive (2020-2028) ($MN)
26 Global Nanocomposites Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
27 Global Nanocomposites Market Outlook, By Semiconductors (2020-2028) ($MN)
28 Global Nanocomposites Market Outlook, By Packaging (2020-2028) ($MN)
29 Global Nanocomposites Market Outlook, By Medical (2020-2028) ($MN)
30 Global Nanocomposites Market Outlook, By Corrosion Protection (2020-2028) ($MN)
31 Global Nanocomposites Market Outlook, By Aviation (2020-2028) ($MN)
32 Global Nanocomposites Market Outlook, By Coatings (2020-2028) ($MN)
33 Global Nanocomposites Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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