Nanocomposites consist of at least one material in the nanometer range. The addition of nanoparticles to composites significantly improves the mechanical properties of nanocomposites. Thus, nanocomposites are regarded as the new generation of high-performance materials. They are gaining huge popularity in advanced and niche applications. Nanocomposites have gained a lot of attention in the recent years. Vendors are putting in significant efforts to control nanostructures with the help of innovative synthetic approaches. Nanocomposites are high-performance materials that exhibit unique property combinations and enhanced mechanical properties. The manufacturing of nanocomposites can be done in three ways: solution blending, molten state, and in situ polymerization.
Technavio’s analysts forecast the global nanocomposites market to grow at a CAGR of 23.66% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global nanocomposites market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Nanocomposites Market 2017-2021
Technavio recognizes the following companies as the key players in the global nanocomposites market: 3M, Arkema, BASF, Cabot, and Evonik Industries.
Other Prominent Vendors in the market are: Cyclics, DuPont, Elementis Specialties, eSPin Technologies, Foster, Inframat, InMat, Melodea, Nanocor, NYACOL, Powdermet, ALTANA, Unidym, Unitika, and Zyvex Technologies.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Use of nano PVDF aluminum composites in decoration. Nano polyvinylidene fluoride (PVDF) aluminum composites have emerged as a new material that finds applications in curtain walls. They can also be used for exterior decoration in brand chain stores. These composites have an edge over traditional aluminum composites that demand regular cleaning and affect the overall appearance. The application of nano PVDF aluminum composite panels solves the problem of regular cleaning. They have an extremely low tension of the coating and offer greater resistance to dirt, thereby saving on maintenance costs considerably.”
According to the report, one of the major drivers for this market is Increasing investments in construction activities. Developing countries have witnessed a rise in their per capita income levels and an increase in urbanization. These factors are contributing to the rise in the number of construction projects. Changing consumer lifestyles have led to the need for housing, which, in turn, is increasing the demand for nanocomposite materials. The global urban population is expected to increase by more than 70% by 2050.
Further, the report states that one of the major factors hindering the growth of this market is High R&D costs. The R&D costs of nanocomposites are high because the process is complicated. In addition, the procedure for testing the application of such materials in various sectors, such as aerospace and defence, is elaborative, time consuming, and expensive. The preparation of nanomaterials that are used in nanocomposites is expensive. For instance, graphite is used as a raw material to produce CNTs. During the production process, graphite has to be brought down to the nanoscale level using various methods, such as chemical vapor deposition, laser ablation, and physical vapor deposition.
3M, Arkema, BASF, Cabot, Evonik Industries, Cyclics, DuPont, Elementis Specialties, eSPin Technologies, Foster, Inframat, InMat, Melodea, Nanocor, NYACOL, Powdermet, ALTANA, Unidym, Unitika, and Zyvex Technologies.