Elettronica
Nanocomposites Market Worth $8.5 Billion by 2024 - Exclusive Report by MarketsandMarkets™
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The demand for smart packaging, where nanomaterials have applications, continues to rise across the globe due to the need for better safety and quality. As consumers continue to demand much more from packaging in terms of protecting the quality, freshness, and safety of foods, the application of nanomaterials in food & beverage packaging is expected to grow at a significant pace.
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Nanocomposites are divided into six segments based on materials, namely, carbon nanotubes, metal oxide, nanofiber, nanoclay, graphene, and others. Carbon nanotubes are widely used in electronics & semiconductor application due to their desirable electrical properties. They are considered a viable replacement for IoT (Internet of things) transparent conductors in electronics 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.
Asia Pacific is one of the leading nanocomposites markets. The growing demand from applications, such as packaging, automotive, and electronics & semiconductor is driving the nanocomposites market in the region. The region has a presence of major nanocomposite manufacturers who focus on the adoption of various business strategies to increase the production of nanocomposites and meet the growing demand from end users. For instance, in 2018, Airbus Beijing Engineering Center and the National Center for Nanoscience and Technology of
China launched a new lab focusing on the nanocomposite material.
Some of the prominent players in the are Nanocor Inc. (US), Arkema Inc. ( France , Evonik Industries AG ( Germany ), Showa Denko, K.K. ( Japan ), and Zyvex Technologies Inc. (US). The strategies undertaken by these players include new product developments and research on new applications.
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