Multiphase solid materials having nanoscale dimensions in one or more phases that are embedded in a polymer matrix are called as polymer nanocomposites (PNC).
A major factor driving growth of the global polymer nanocomposites market is increasing adoption of polymer composites by automotive sector. In addition, increasing demand for bio-based nanocomposites is another factor expected to drive growth of the global market to a significant extent over the forecast period. Major factors hampering growth of the global polymers nanocomposites market are high manufacturing cost and environmental concerns related to use of polymers.
The global polymer nanocomposite market is segmented on the basis of type, application, and region. On the basis of type, the global market is segmented into carbon nanotubes, metal oxide, nanofiber, nanoclay, graphene, and others. The nanoclay segment is expected to witness highest growth over the forecast period.
On the basis of application, the global market is segmented into packaging, automotive, electronics & semiconductor, aerospace & defense, coatings, energy, and others. The automotive segment accounts for significant revenue share in the global market and the packaging segment is expected to witness considerable growth over the forecast period.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts for significant share in the global market. The Asia Pacific polymer nanocomposites market accounts for highest share in the global market and is expected to witness highest growth over the forecast period. Increasing adoption of polymer nanocomposites from electronics and semiconductor and aerospace industries is a major factor driving growth of the Asia Pacific polymer nanocomposites market.
Key players in the global market are BYK Additives, Foster Corporation, 3D System Inc., Industrial Nanotech Inc., Hybrid Plastics Inc., Inframat Corporation, InMat Inc., Nanocor Incorporated, Crown Plastics Co. Inc., AVEKA, Inc., and other prominent players.