The rising demand for plastic manufacturing, growth of the automotive sector, combined with the rising demand for electronics, are some of the major factors driving the market growth.
The global Nanoclay Reinforcement Market is forecast to reach USD 13.12 billion by 2027, according to a new report by Reports and Data. Low manufacturing cost and the ease of availability of these materials have prompted plastic manufacturers to increase the utilization of these materials, and hence, this has resulted in continuous market growth during the forecasted period. Nanoclays account for approximately 70% of revenue and are the most consumed nanomaterial commercially.
Thermal stability, mechanical strength, anti-corrosiveness, and Chemical resistance are the properties that make it a preferred material in various end-user sectors. The rising demand for nanocomposites is another factor driving market growth.
The major drivers of the usage of nanocomposite polymer components in the automotive sector are improved engine efficiency, reduced CO2 emissions, higher performance, and vehicle weight reduction. Moreover, Nanoclay reinforcement provides excellent exfoliation and dispersion, excellent flame retardant synergy, reduced relative heat release, and reduced weight. Increasing research & development in nanotechnology is likely to further boost the global nanoclay reinforcement market demand in automotive parts application.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Nanocor Incorporated, BYK Additives, Nanophase Technologies, 3M ESPE, Laviosa Chimica Mineraria Spa, Powdermet, Inframat Corporation, Hybrid Plastics, Axson Technologies SA, and Zyvex Technologies, among others.
Market Segmentation by Types:
Type 1, Type 2, Type 3, Type 4, and others.
Market Segmentation by Applications:
Application 1, Application 2, Application 3, Application 4, and others.
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Nanoclay Reinforcement market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Further key findings from the report suggest
- Military & defense accounted for 10.3% of the global nanoclay reinforcement market share, in terms of revenue, in 2019.
- In North America, the nanoclay reinforcement market demand is driven by the surging demand from the packaging and automotive industry.
- Among the application segment of the nanoclay reinforcement market, packaging sector is expected to register the highest CAGR of 23.4% over the forecasted period.
- Among the end-user segment of the nanoclay reinforcement market, the automotive industry is presently leading the market, and it will continue to dominate with an estimate to register an excellent CAGR of 23.4% during the forecasted period.
- Among the regional segment of the nanoclay reinforcement market, North America is presently leading the market with a 34.8% market share of the global revenue. It will continue to dominate with an estimate to register a remarkable CAGR during the forecasted period.
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