Global Polymer Nanocomposites Market Will Grow at a Cagr of More Than 24% Until 2019

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Market overview of polymer nanocomposites

In spite of their high cost, the use of polymer nanocomposites has gained significant market traction in industries such as automobiles, where mechanical properties, low weight, and the ability to withstand high loads are major factors. Technavios market research analysts predict the global polymer nanocomposites market to grow at a CAGR of more than 24% until 2019.

The market is witnessing the introduction of innovative bio-based nanocomposites that are expected to contribute to its sustainability. However, the market growth is likely to be restricted by factors such as the high R&D cost for vendors and the high deployment costs for end-users

Market segmentation of the global polymer nanocomposites market by product type

Clay-based nanocomposites

Carbon nanotubes

Others

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In terms of revenue, the clay-based nanocomposites segment accounted for a major share of the global polymer nanocomposites market in 2014. The latest trend in this segment is to fill the polymer between individual clay sheets or to disperse the clay sheets into the polymeric matrix. In the future, the use of hybrid materials is expected to provide higher thermal stability and barrier properties, less shrinkage, and improved resistance to solvents, scratches, and fire.

Market segmentation of the global polymer nanocomposites market by application

Medical and healthcare

Cosmetics

Protective clothing and material

Filter media

Optical application

Electrical conductors

The food packaging industry is the second largest consumer of polymer nanocomposites. The high barrier properties of polymer nanocomposites enhance the shelf-life of packaged food items. It is used in the packaging industry for making...