Pune, India -- (SBWIRE) -- 04/09/2019 -- The latest report on Nanocomposites Market by Infinium Global Research gives complete coverage of the Nanocomposites Market by product (carbon nanotubes, Nano clay, metal and metal oxides, ceramics and others) and applications (packaging, automotive, aviation, energy, construction and infrastructure, electronics and semicon and others.) in terms of key trends, market size, forecast Global Industry Analysis, Trends, Market Size, Forecasts up to 2023 and CAGR growth over the period of 2017 to 2023. In addition, the study covers deep dive into key product and applications trends in the regional markets of Nanocomposites such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global nanocomposites market is projected to grow at a CAGR of 19.5% over the forecast period of 2017-2023.

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Nanocomposites Market: Industry Insights

Nanocomposites are a multiphase solid material that incorporates Nano-sized particles into a matrix of standard material. Microstructures are modulated in zero to three dimensions on length scales less than 100 nm. Nanoparticles are added in nanocomposites to improve a particular property of a material. Nanocomposites are used in several industries that include automotive, aerospace, medical, electronics and biotechnology industries, and food industries.

Nanocomposites Market: Drivers and Restraints

Growing adoption of nanocomposites in different sectors drives the growth of nanocomposites market. The potential of nanocomposites is ranging from food packaging to biomedical applications. The use of nanocomposites is increasing in several industries such as medical, aerospace, electronics and biotechnology industries, automotive and food industries as nanocomposites are environment-friendly and it offers business opportunities and new technology for these sectors. However, the high cost of nanocomposites may hamper the growth of nanocomposites market.

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Nanocomposites Market: Segmentation

The global nanocomposites market categorized into segments that include product and applications. On the basis of product, the global nanocomposites market is segmented into carbon nanotubes, nanoclay, metal and metal oxides, ceramics and others. Among these, inorganic materials using nanoclays are broadly used as filters in rubbers and plastics that help in saving polymer consumption as well as cost. Further, metal matrix composites are reinforced metal matrix composites that refer to materials consisting of a ductile metal or alloy matrix in that some Nano-sized reinforcement material is implanted. These materials used to combine metal and ceramic features. On the basis of applications the global nanocomposites market is categorized into packaging, automotive, aviation, energy, construction and infrastructure, electronics and semiconductors and others. In electronic and optoelectronic applications, nanotechnology. Polymer-based nanocomposites have potential applications that include photodiodes, transistors, photovoltaic cells, superconductors and field effect transistors.

Nanocomposites Market: Regional Insights

North America region holds a significant share in the nanocomposites market. Growing adoption of the nanocomposite in aerospace and defense industry owing to nanocomposite materials offer chemical stability as well as fire resistance apart from the advantage of low operating cost owing to their lightweight fuel the growth of nanocomposites market in the region. Further, in the Asia Pacific, the use of nanocomposite is increasing in emerging economies in several industries such as electronics and semiconductor, automotive, aerospace that drives the growth of nanocomposites market in the region.

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Nanocomposites Market: Competitive Analysis

The prominent players in the global nanocomposites market are Basf Se., Cabot Corporation., E.I. Du Pont De Nemours & Company, Dsm, Foster Corporation, Powdermet Inc, Evonik Degussa Gmbh, Inmat Inc, Nanocor Inc, and Zyvex Technologies.