According to a recent analysis on Nanofiber Polymer Nanocomposites by Fact.MR, a market research and competitive intelligence company, the market is expected to reach US$ 9 billion by 2031, growing at a CAGR of 16 percent over the next ten years. Government rules encouraging the use of nanocomposites in packaging and food & drinks are driving the market for Nanofiber Polymer Nanocomposites, resulting in increased demand from these end-use sectors.
In the automotive sector, Nanofiber Polymer Nanocomposites are utilised to increase the longevity of components like headlight covers, engine covers, tyres, and interior and exterior components. The market for nanocomposites has grown in response to an increase in demand for vehicle weight reduction in order to improve fuel efficiency.
Nanofiber Polymer Nanocomposites Market: Key Takeaways
- By 2031, the market for Nanofiber Polymer Nanocomposites is predicted to expand 1.8 times its current size.
- Clay-based nanocomposites will see a 20 percent increase in demand.
- North America accounts for nearly a third of all worldwide revenue.
- China’s market is estimated to reach US$ 3.3 billion by 2031.
- Over the evaluation period, Japan’s industry is predicted to grow at a rate of 18.5 percent.
- Over the next ten years, demand for carbon nanotube-based nanocomposites will increase.
- The use of Nanofiber Polymer Nanocomposites in the packaging sector is expected to increase in the future years.
According to a Fact.MR analyst, “increasing uses of Nanofiber Polymer Nanocomposites in the packaging and aerospace industries would increase producers’ remuneration in the coming years.”
How is Multi-functionality of Nanofiber Polymer Nanocomposites Driving Market Growth?
A nanocomposite is a material that improves structural, functional, or cosmetic qualities to increase performance in a variety of applications.
Food packaging, automotive, aerospace & defence, electronics & semiconductors, energy, construction, and other industries now use nanocomposites extensively.
The high surface-to-volume and aspect ratios of nanoparticles and nanolayers make them ideal for usage in polymeric materials. For advanced applications, such structures combine the best qualities of each component to produce structures with enhanced mechanical and superconducting capabilities.
A key driver driving the market is new uses of Nanofiber Polymer Nanocomposites in food packaging. The market is experiencing significant demand and expansion as a result of nanocomposites’ multifunctionality.
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