Demand for Nanoclay Polymer Nanocomposites in the Packaging Industry to Increase Polymer Nanocomposites Sales in 2021-2031

Market Snapshot

As per the latest polymer nanocomposites industry analysis by Fact.MR, the global market is projected to grow from US$ 5 Bn in 2020 to US$ 9 Bn by 2031, surging at a CAGR of 16%. Demand for clay-based nanocomposites is set to accelerate at an impressive CAGR of 20% across the assessment period of 2021 to 2031.

Key Points Covered in Polymer Nanocomposites Industry Survey:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Assessment by Product Grade / Purity / Formulation Standards
• Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
• Certifications and Compliance Requirements
• Analysis of Supply Contracts, Avg. Consumption, Potential for Direct & Indirect Sales
• COVID-19 Impact on Demand for Polymer Nanocomposites and How to Navigate
• Recommendation on Key Winning Strategies

Consumption Analysis of Polymer Nanocomposites from 2016 to 2020 Vs Demand Outlook for 2021 to 2031

As per Fact.MR – a market research and competitive intelligence provider, over the last 5 years, the global market for polymer nanocomposites expanded at close to 11% CAGR. In 2020, the market was valued at US$ 5 Bn.

The market for polymer nanocomposites has witnessed substantial growth owing to rising demand in end-use industries, including aerospace engineering, automotive, construction, renewable power generation, military, and food & packaging.

The automotive industry is expected to be a key driver for polymer nanocomposites due to rising demand for lightweight automotive parts, owing to their high strength and lightweight properties resulting in superior performance and reduced carbon emissions.

In addition, stringent government regulations related to automotive emission standards are expected to augment market growth going ahead. Furthermore, growing awareness regarding automotive safety among consumers is expected to propel market growth.

Global acceptance of polymer nanocomposites in semiconductor manufacturing owing to their superior characteristics, including compactness, lightweight structure, and electrical conductivity, is expected to propel the market over the next ten years.

How is Multi-functionality of Polymer Nanocomposites Driving Market Growth?

A nanocomposite is a material designed for enhanced performance in number of unique applications through improvement in structural, functional or cosmetic properties.

These nanocomposites are nowadays widely used in industries such as food packaging, automotive, aerospace & defence, electronics & semiconductors, energy, construction, and others.

Nano-particles and nano-layers have very high surface-to-volume and aspect ratios, and this makes them ideal for use in polymeric materials. Such structures combine the best properties of each component to possess enhanced mechanical & superconducting properties for advanced applications.

New applications of polymer nanocomposites in food packaging is a major factor driving the market. It is owing to the multi-functionality of nanocomposites that the market is experiencing high demand and growth.

What are the Key Challenges Affecting the Sales of Polymer Nanocomposites?

Although polymer nanocomposites are highly in demand, high prices of products are slowing down growth of the industry. High price of nanomaterials such as carbon nanotubes, nanofibers, etc., will affect polymer nanocomposite demand over the coming years.

Which Region is Expected to Provide the Largest Opportunity for Polymer Nanocomposite Manufacturers?

North America holds more than 35% of share in the global market owing to the region’s high spending on nanotechnology.

Increasing product demand from the packaging sector is a key reason behind the growth of the market in this region. Growing demand for polymer nanocomposites in the automobile industry will further enhance the growth of the market over the coming years.

Asia Pacific holds around 20% market share for polymer nanocomposites. This region is the largest and the fastest-growing market for polymer nanocomposites, in terms of volume. Packaging is a major application of polymer nanocomposites across Asia.

Presence of a large number of nanocomposite manufacturers and application industry makes this region the most important market for polymer nanocomposites.

Presence of an advanced nanocomposites industry and high demand for nanocomposites for automotive and electronics & semiconductor applications in China are expected to drive the market in Asia Pacific.

Country-wise Analysis

Why is the U.S. Turning Out to Be a Promising Market for Polymer Nanocomposites?

The polymer nanocomposites market in the U.S was estimated at US$ 1.5 Bn in the year 2020.

High demand is attributable to huge amount of capital investments in building infrastructure for carrying out research activities in the field of polymer nanocomposites.

Also, growing medical industry, development of new medical electronic devices, rising automobile industry, and increasing number of nanocomposite manufacturers are expected to enhance market growth during the predicted years.

How is Demand for Polymer Nanocomposites Shaping Up in South Korea and Japan?

South Korea and Japan are the two leading polymer nanocomposite manufacturing countries in Asia Pacific.

Japan accounted for around 50% of polymer nanocomposite revenue share alone in the Asia Pacific region.

Furthermore, growing manufacturers of nanocomposites owing to their investments in respective domestic markets as well as support from national governments will further propel sales of polymer nanocomposites in both countries over the coming ten years.

Category-wise Analysis

Why is Demand for Carbon Nanotube-based Nanocomposites High?

Carbon nanotube-based nanocomposites are widely used in electronic & semiconductor applications due to their desirable electrical properties. They are considered a viable replacement for transparent conductors in electronic applications.

Fabricated as transparent conductive films (TCF), carbon nanotubes can be used as a highly conductive, transparent, and cost-efficient alternative in flexible displays and touch screens.  

It is owing to these properties that their demand remains high in the market.

What is the Reason for Nanoclay Composite’s Growing Popularity in the Packaging Industry?

Nanoclay composites are extensively used in the food & beverage packaging industry as they offer good amount of barrier properties over other materials.

Incorporation of nanoclay composites can improve the thermal, mechanical, and barrier properties of a host polymer. Both, natural hydrophilic and modified organophilic nanoclay composites provide unique characteristics to the host polymer depending on the selected applications.

Besides the advantage of polymer reinforcement, various novel applications of nanoclay composites in food packaging have been suggested recently, such as control and release for active ingredients, antimicrobial agent, and carrier for the colorimetric indicator system.

Competitive Landscape

Product launches and business expansion are leading strategies adopted by key players in this market in order to expand their geographic reach and improve their product portfolios in the global market.

Expansion covers 25% share out of the strategies adopted by key market players. Product launches, the most preferred strategy, are adopted by many companies in order to increase their product range for polymer nanocomposites.

• The Arkema Group and RTP Company are leading companies, which have adopted expansion and product launch as their key business strategies.

• Alpine Advanced Materials announced to commercially license and sell thermoplastic nanocomposites developed by Lockheed Martin Aeronautics in 2019. This new material will be used to replace many metal parts in the seats, interiors, galleys, and trays in an aircraft.

Polymer Nanocomposites Market Report Scope

Key Segments Covered in Polymer Nanocomposites Industry Research

• By Type

  • Carbon Nanotubes
  • Metal Oxide
  • Nanofiber
  • Nanoclay
  • Graphene

• By Application

  • Polymer Nanocomposites Used in Packaging
  • Polymer Nanocomposites Used in Automotive
  • Polymer Nanocomposites Used in Electronics & Semiconductors
  • Polymer Nanocomposites Used in Aerospace & Defence
  • Polymer Nanocomposites Used in Coatings
  • Polymer Nanocomposites Used for Energy
  • Polymer Nanocomposites Used in Sports & Healthcare

• By Fiber

  • Thermoplastics
  • Thermosetting