Albany, New York (PRWEB) September 24, 2013
Transparency Market Research published new market report “Nanocomposites (Carbon Nanotubes, Polymer Metal Fiber, Nanofibers, Graphene, Nanoplatelet and Others) Market for Automotive, Aviation, Electronics, Energy, Construction, Healthcare, Plastics, Military, Consumer Goods and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018." According to the report, the demand for nanocomposites that was over USD 1.91 billion in 2011 is expected to increase to USD 5.91 billion by 2018, growing at a CAGR of 18.0% from 2012 to 2018.
Browse Report With Full TOC At : http://www.transparencymarketresearch.com/nanocomposites-market.html.
In terms of volume, the global market for nanocomposites is expected to grow at a CAGR of 17.5% between 2012 and 2018. Vehicle safety & need for light-weight materials to improve vehicular performance have been the most important factors driving the market in the past few years. An increased consumption of nanocomposites in building & construction and their importance in the field of electronics and semiconductors have been other factors driving the market of late. At the same time, higher costs incurred in manufacturing certain components for high-performance applications could hinder the market in certain end-user industries.
Nanocomposites are made up of filler materials and surrounding matrix. The most commonly used filler materials are nanoclay (such as Laponite and Montmorillonite) that has a huge demand worldwide. Nanoclay accounted for over 41% of the global market share by product segment in 2011. This product segment is expected to show a CAGR of 17.4% between 2012 and 2018. 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 Transparency Market Researchnanotubes and graphene are also expected to show healthy growth over the forecast period.
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. 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 in 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. It is expected to grow at a CAGR of 16.9% between 2012 and 2018.
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 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. Asia Pacific is expected to show the highest growth in demand and the market for nanocomposites is forecast to grow at a CAGR of 18.8% between 2012 and 2018.
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.
Related Report :
Graphene Market : http://www.transparencymarketresearch.com/graphene-market.html
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.