Nanocomposites are substances
that possess properties that cater to applications across diverse industry
verticals. The massive investments in the research and development of efficient
products will emerge in favour of growth of the overall market in the coming
years. The increasing applications of the product have attracted huge
investments from large scale companies across the world.

The
global nanocomposites market size  is projected to reach USD 14.34 billion by the
end of 2027. The increasing applications of the product across diverse industry
verticals will emerge in favor of market growth. The presence of several
large-scale companies will contribute to the growth of the market in the coming
years. According to a report published by Fortune Business Insights, titled “Nanocomposites
Market Size, Share & Industry Analysis, By Type (Polymer, Metal, Ceramic,
Others), By Product (Carbon Nanotubes, Nanoclay, Graphene, Nanofiber, Others),
By Application (Packaging, Electrical & Electronics, Automotive, Aerospace
& Defense, Others), and Geography Forecast, 2020-2027” the market was
worth USD 4.32 billion and will exhibit a CAGR of 16.3% during the forecast
period, 2020-2027.

The
properties of nanocomposites such as good electric conductivity, high thermal
stability, and excellent mechanical strength have fuelled the demand for the
product across the world. The increasing uses of nanocomposites in the
biomedical industry will bode well for the growth of the overall nanocomposites
market in the foreseeable future.

List of the Key Companies Profiled:

Arkema S.A. (France)

Evonik Industries AG (Germany)

Showa Denko K.K. (Japan)

Cabot Corporation (U.S.)

Zyvex Technologies Inc. (U.S.)

Nanocyl SA (Belgium)

RTP Company (U.S.)

Nanophase Technologies Corporation (U.S.)

Nanocor Inc. (U.S.)

DuPont (U.S.)

Other Key Players

Covid-19 Pandemic to Create Several Growth
Opportunities for Nanocomposite Businesses

The recent coronavirus outbreak has had a massive
impact on several economies across the globe. Due to the rapid spread of the
disease, several countries are looking to implement strict measures with a view
to controlling the spread of the disease. The efforts taken to curb the spread
of the disease have limited the growth of the businesses across the world.
Despite the barriers set by the Covid-19 pandemic, the nanocomposites market
will derive significant growth from this due to the rise in demand for
packaging material across the world. Due to the increase in deliveries across
food supplies and other industries will emerge in favor of market growth.
Besides the food industry, the electronics industry will also witness
significant growth due to the recent pandemic.

Browse In-depth Summary of This
Research Insights@ https://www.fortunebusinessinsights.com/nanocomposites-market-104041

Increasing Number of Company Collaborations will
Emerge in Favor of Market Growth

The report encompasses several factors that have
contributed to the growth of the overall market in recent years.  Accounting
to the increasing demand for the product, there is a healthy market competition
across the world. The strong market competition has encouraged companies to
adopt newer strategies that have helped them establish a stronghold in the
market. In July 2020, PPK announced that it has partnered with Geelong’s Deakin
University for the development of a new product integrated with nanocomposites.
The companies will develop boron nitride nanotubes (BNNT) for new dental
nanocomposites.  Increasing number of such company collaborations will
have a huge impact on the growth of the overall market in the forthcoming
years.

Asia Pacific to Emerge Dominant; Presence of
Several Large Scale Companies will Emerge in Favor of Market Growth

The report analyzes the ongoing market trends
across North America, Asia Pacific, Europe, the Middle East & Africa, and
Latin America. Among all regions, the market in Asia Pacific is projected to
emerge dominant in the coming years. The increasing use of nanocomposites by
large scale companies in the Asia Pacific will fuel the demand for the product
across the world. The increasing investments in the research and development of
efficient products will also emerge in favor of market growth. Additionally,
the increasing use of nanocomposites in the electronic industry will have a
huge impact on the growth of the regional market. As of 2019, the market in
Asia Pacific was worth USD 1.65 billion and this value is projected to rise at
considerable pace in the coming years.

Industry Developments:

July 2019: Researchers from the University of
California, Santa Barbara and the University of Hawaii have synthesized
nanoparticles that can be used for 3D printing.