Traditionally, materials having one or more layers of multi-phase materials that occured in two or three dimensional phases and the thickness of which did not exceed 100 nanometers per layer were termed as nanocomposites. With the passage of time and new products entering the market with a marked rise in innovation and development, the term “nanocomposites” started to include numerous systems consisting of a combination of one-dimensional, two-dimensional, three-dimensional and amorphous phases. The distinct dis-similarity of these phases at a nanoscale level affected the overall properties of the system because these properties depended on the interactions, structure and morphology of the phases when in conjunction with each other. Clay, plastics, glass, carbon nanotubes, graphene and other such materials at nanoscale sizes are some of the filler materials of preference in nanocomposites. Binder materials used in nanocomposites are usually polymeric resins, ceramics and metal powders.
Due to their physical properties, nanocomposites are used in various industries for their products. Their key role in vehicle safety and weight reduction is the major driving factor for the nanocomposite market globally. There is also a marked rise in the application of nanocomposites in building & construction. The above two factors combined with a high volume of consumption in electronics & semiconductors have been driving the market forward for nanocomposites and increasing product sales. Their high cost in certain end-user industries and applications, however, is expected to be one of the factors holding back the market. The growth of the energy sector, high importance of nanocomposites in military and defense and the growing demand for the use of bio-based raw materials are expected to be important factors for growth of the nanocomposite market for the near future.
Nanocomposites are made up of filler materials and surrounding matrix. Filler materials can be of various types. The most commonly used filler materials are nanoclay such as LAPONITE® and Montmorillonite and the market for nanoclay shows a huge demand in a global scenario. Nanoclay accounted for over 41% of the global market share by product segment in 2011. Glass fibers and metal fibers are also in huge demand and are expected to be major markets in the coming years. Other nanofibers, platelets, carbon nanotubes and graphene are also expected to show healthy growth over the forecast period.
Due to their exceptional physical properties and their versatility of application, they find diverse application bases in various end user industries. The automotive segment uses nanocomposites in the form of windshields, door paneling, headlight covers, etc. Nanocomposites are also majorly used in the aviation industry during the construction of aircraft and for replacement parts. Nanocomposites are used as bases for circuits, as conducting surfaces and other such high-end applications in electronics and semiconductors. In the energy segment, nanocomposites find numerous applications such as blades of windmills, turbines and others. Building & construction was the largest market for nanocomposites in 2011 and accounted for over 15% of the total market share. Medical & healthcare, plastics & packaging, military & defense, consumer goods, environment & water are some of the major end user industry segments where nanocomposites are used for a variety of applications.
North America was the largest market for nanocomposites in 2011, accounting for approximately 40% of global demand. Building and construction, electronics & semiconductors and aviation were the major markets driving sales for nanocomposites in North America, making it the largest market by volumes. Europe has also shown great promise in nanocomposite sales and accounted for a large portion of nanocomposite sales. Asia Pacific and RoW are expected to be strong future markets for nanocomposites with growing industrialization and infrastructure.
Arkema SA, BASF SE, Cabot Corporation, Cyclics Corporation, DSM Somos, Elementis Specialties Inc., eSpin Technologies Inc., E.I. du Pont de Nemours & Company (DuPont), Evonik Degussa GmbH, Foster Corporation, Hybrid Plastics Inc., Hyper-Therm High-Temperature Composites Inc., Inframat Corporation, InMat Inc., Nanocor Incorporated, Powdermet Inc., Rockwood Additives Ltd., Showa Denko K.K., Unidym, Inc. and Zyvex Technologies are some of the major manufacturers of nanocomposites.
Increased importance for vehicle safety and weight reduction has been the major driving factor for the nanocomposite market globally. A significant increase in the application of nanocomposites in building & construction has also been one of the major factors contributing to growth of the nanocomposites market. Combined with a high volume of consumption in electronics & semiconductors, the market for nanocomposites has been showing increased product sales in the past few years. High cost of certain products that are necessary in certain end-user industries has been one of the factors holding back the market for nanocomposites.
This report segments the nanocomposites market based on product segment, end-users and regions and provides forecasts and estimates for each sub-segment. The report also presents supply and demand characteristics of nanocomposites and applications by providing a detailed forecast from 2012 to 2018 along with revenues and volumes analysis. It also provides opportunities for the nanocomposites market for the near future along with the latest trends anddriving and restraining factors influencing the market.
Based on the product segments, the nanocomposites market can be categorized into different segments such as carbon nanotube nanocomposites, polymer metal fiber composites, nanofiber nanocomposites, graphene nanocomposites, nanoplatelet (nanoclay and expanded graphite) nanocomposites and other nanocomposites. Graphene and carbon nanotubes are expected to show the best growth numbers within the nanocomposites market during the forecast period.
The major end-user segments in the nanocomposites market are automotives, aviation, electronics and semiconductors, energy, building & construction, medical and healthcare, plastics & packaging, military and defense, consumer goods, environment and water and others. Of these, electronics & semiconductors are expected to show the highest growth in the near future.
North America, Europe, Asia Pacific and Rest of the World (RoW) are the key regions covered in this report. Each of the above mentioned regions are further segmented based on product segment and end-users of nanocomposite products and thorough analysis of each segment in terms of volume and revenue in 2012 and forecast until 2018 has been included into the report. The detailed analysis of market landscape of companies such as Cyclics Corp., Inframat Corp., Powdermet Inc., Zyvex Technologies and some other major manufacturers of nanocomposites have been included in this report.
Inflation is not a part of pricing in this report. Prices of nanocomposites and its copolymers vary in each region; hence, a similar volume to revenue ratio does not follow for each individual region. The same price for each application has been taken into account while estimating and forecasting market revenue on the global basis. Regional average price has been considered while breaking down this market by application segment in each region. We use models and estimates in order to produce comprehensive data sets when there is no hard data available. We have used the bottom up approach to arrive at the global market considering individual application segments and integrating them to arrive at the global market. The applications have been further bifurcated using top down approach to derive the regional product market consumption.
For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
The market has been segmented as below:
- Nanocomposites Market: End-user Analysis
- Electronics and semiconductors
- Building & construction
- Medical and healthcare
- Plastics and packaging
- Military and defense
- Consumer goods
- Environment and water
- Others (other packaging, decorative household items, recycled boards, etc.)
Nanocomposites Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)