Global Polymer Nanocomposites Market Will Flourish With the High Consumption of Polymer-Based Clay Nanocomposites Through 201...
09 February 2016 - 5:40AM
Business Wire
Technavio analysts forecast the global polymer
nanocomposites market to post a CAGR of more than 24% by 2019,
according to their latest report.
The research study covers the present scenario and growth
prospects of the global polymer nanocomposites market for
2015-2019. To calculate the market size, the report considers
revenue generated from sales of polymer nanocomposites
worldwide.
Technavio’s chemicals and materials industry research
analysts highlight the following four factors influencing the
growth of the global polymer nanocomposites market:
- High demand from the automobile
industry
- Stringent regulations on automotive
emissions
- Growing demand from various
sectors
- High consumption of polymer-based clay
nanocomposites
High demand for polymer nanocomposites from the automobile
industry
Technavio analysts have characterized the automobile industry as
the largest consumer of polymer nanocomposites, accounting for
almost 70% of the consumption of the material. The high demand from
this industry drives the global polymer nanocomposites market.
Automobile production increased from 84.24 million units in 2010 to
almost 90 million units in 2014. This material is used primarily to
make car parts such as handles, rear view mirrors, gas tank
components, suspension systems, braking systems, and car
bumpers.
“The introduction of polymer nanocomposites have facilitated the
production of lightweight vehicles to improve fuel efficiency. As a
result, the demand for polymer nanocomposites will continue to grow
over the next five years because of applications in new areas of
automobile production such as body panels, door inners, windows,
and engine covers,” says Asif Gani, a lead specialty
chemicals analyst from Technavio.
The report also states that the use of elastomeric
nanocomposites in automobile tires is expected to contribute to
market growth. The automobile industry will continue to be the
largest consumer of this material and demand from this industry is
likely to be substantial throughout the forecast period.
Stringent regulations on automotive emissions
The rise in automobile emissions is contributing to the increase
in atmospheric temperature and pollution. It is not possible to
completely eliminate automotive emissions, however, they can be
minimized. Governments all over the world are implementing
stringent rules and policies in favor of the reduction of
automotive emissions, while also trying to educate their citizens
about the harmful effects of these emissions.
“Automobile manufacturers and other industries are gradually
shifting toward the adoption of electrical energy instead of energy
derived from fossil fuels. The use of lightweight materials such as
polymer nanocomposites in the bodies of vehicles will lead to
weight reduction, improved fuel efficiency and lower emissions of
CO2,” says Asif.
Growing demand for polymer nanocomposites from various
sectors
The growing demand for polymer nanocomposites from numerous
industries such as electronics and semiconductor, aerospace
engineering, military, biomedical, construction, food packaging,
and renewable power generation industries will propel the growth of
the market.
“The food packaging industry has started using polymer
nanocomposites in packaging material to enhance the properties of
thermoplastic resins. Clay nanocomposites and nanocarbon fillers
are used in the manufacturing of plastic bottles to a longer shelf
life for beverages and other consumables. In the electronics and
semiconductor industry, polymer nanocomposites are in high demand
for the production of printed electronic components and
super-capacitors,” added Asif.
High consumption of polymer-based clay nanocomposites
Nanoclays are largely used as filler materials and demand for
this material is expected to increase during the forecast period.
The dispersion of clay in the polymer matrix maximizes the surface
area. The presence of 2%-8% clay in polymer nanocomposites improves
the polymer's physical and mechanical properties as well as reduces
gas and liquid permeability. Nanoclays provide benefits such as
improvement in product lifecycle, reduced transportation costs due
to lightweight components, and reduced requirement for fire
retardants, which is making a robust contribution to the growth of
the global polymer nanocomposites market.
Browse Related Reports:
- Global Medical Polymers Market
2016-2020
- Global Electroactive Polymers Market
2016-2020
- Global Metal Matrix Composites Market
2016-2020
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About Technavio
Technavio is a leading global technology research and
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every year, covering more than 500 technologies across 80
countries. Technavio has about 300 analysts globally who specialize
in customized consulting and business research assignments across
the latest leading edge technologies.
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techniques to ascertain the size and vendor landscape in a range of
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bottom-up and top-down approaches, besides using in-house market
modeling tools and proprietary databases. They corroborate this
data with the data obtained from various market participants and
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