Composite materials made from dispersed nanomaterials to form a resin matrix, enhances the plastics’ properties. While in terms of regional growth, the North American market has consistently held a lucrative position in the global polymer nanocomposites market.
FREMONT, CA: The enormous product employment across several end-user applications in the sectors like packaging, automotive, electronics, and paints, have paved the way for polymer nanocomposite market. The business will see substantial growth in the upcoming years. Composite materials are made from dispersed nanomaterials to form a resin matrix, which enhances the plastic properties. The product also acts as an exceptional substitute for metal parts in the automotive and aerospace industry that will impact polymer nanocomposites industry growth.
The requirement for lightweight parts is a crucial development factor increasing the global polymer nanocomposites market share from the automotive sector. Furthermore, the stipulation for lightweight materials in urbanized regions is estimated to rise, chiefly due to the imposition of rigid vehicular emission standards and fuel economy. The trend is further spread by the high dispersion of battery electric vehicles across the world, owing to rising CO2 levels from traditional automobiles.
Advanced infrastructure and battery solutions coupled with intensive maintenance cost due to the elimination of complex mechanical parts, will additionally accelerate the adoption of Electric Vehicles (EVs). The parts have the capabilities to enhance the vehicle performance of the EVs. Polymer nanocomposites will replace various heavy metal parts that entail the increasing vehicle demand, thereby perking up the overall market outlook over the forecast period.
Over the past decade, polymer nanocomposites have progressed to be the most promising materials owing to the food packaging applications. The evolution mostly owes to different mechanical, antimicrobial, or gas barrier properties that assist in extending the shelf life of the product and enhance the quality. The growing consumer preference for packaged food and beverages will mainly drive the demand for superior food packaging. So, the soaring demand will significantly impact polymer nanocomposites business trends over the ensuing years.
Another factor augmenting the polymer industry is the mounting research and development activities to discover the potential of nanotechnology. Research in nanotechnology field can lead to new applications bearing polymer nanocomposite properties, which will benefit the global polymer market in the future.
Usage of polymer nanocomposites comes in numerous biomedical applications such as prosthesis, vascular grafts, hip implants, wound healing, artificial organs, and medical devices. Additionally, in terms of the medical tools, the composite material properties are known to hold numerous advantages like the availability of synthetic polymer matrices and the suitable and tunable fabrication techniques. Furthermore, owing to the gains, the polymer market has a broad scope in the biomedical sector. Depending on the polymer types, epoxy-resin based composites are anticipated to grow at a high rate. The possibility comes from the excessive use in electronic applications like resistive inks, Electrostatic Discharge (ED) coatings, conductive primers, and more. ESD coating application comes with workbenches, furniture, and shelving. The burgeoning industrial and commercial infrastructure development will considerably drive the demand for epoxy-resin composites.
In terms of regional growth, the North American market has consistently held a lucrative position in the global polymer nanocomposites market. Besides, the state boasts a well-established market for processed food and beverages. So, the rising demand for nanocomposites from the food packaging industry will further swell the market growth in the region. In the meantime, the Asia Pacific market is also rising as a strong contender in the business sphere. The market, driven by China, India, and Japan is observing ever-increasing demand for nanomaterials-based products. Due to the significant use of nanomaterials in paints and coatings, the region will see high demand, predominantly in China and India.
According to a research report, polymer nanocomposites market is expected to be worth more than $31 billion by the year 2025. Alongside its mechanical properties, polymer nanocomposites-based nanotubes and graphene are being used to improve an extensive range of features. The employment of the material furthermore prompts the use of functional materials for a wide range of high-value tools.