The global nanoclay reinforcement market is expected to reach USD 4.38
Billion by 2022, according to a new report by Grand View Research, Inc.
Nanoclay reinforcement market is expected to witness significant growth over
the next seven years owing to a growing need for lightweight, portable,
durable, high strength and low cost materials in a wide range of applications
including automotive, aerospace and marine applications.
Prevalence of favorable government support for use of nanotechnology and
increasing production output of nanomaterials is expected to augment market
growth in North America and Europe over the forecast period. Low manufacturing
& processing cost coupled with abundant availability is expected to drive
end use industry demand.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/nanoclay-reinforcement-market
Further key findings from the report
suggest:
- In
terms of revenue, use of nanoclay reinforcements in automotive parts is
expected to grow at the fastest CAGR of 23.6% from 2015 to 2022. Rising
demand on account of material enhancing characteristics including
toughness, stiffness, dimensional stability, thermal resistance, chemical
resistance, enhanced barrier properties and flexibility at high
temperatures is expected to boost growth over the next seven years.
- Construction
was the largest application segment and accounted for over 20% of global
volume in 2014. Rising awareness towards incorporating nanoclay reinforced
materials for improving efficiency and superior barrier properties is
expected to fuel growth.
- Europe
held the second largest share of the market in 2014 accounting for 29.0%
on account of presence of numerous manufacturers in the region. Favorable
regulatory scenario and support from government is expected to drive
demand over the forecast period.
- Nanoclay
is being utilized as a drug vehicle in the field of medicine. Its ability
to control release of drugs in a better way as compared to other polymer
nanocomposites is turning out to be a very important application and is
expected to boost growth over the forecast period.
- Some
of the key market players include Nanocor Incorporated, BYK Additives,
Laviosa Chimica Mineraria Spa. Key market players have been integration
operations in order to ensure a continuous raw material supply as well as
low manufacturing cost.
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