Market Trends of Polymer Nanocomposite Industry
This section covers the major market trends shaping the Polymer Nanocomposite Market according to our research experts:
Increasing Applications in the Automotive Industry
- Polymer nanocomposites are used for both interior and exterior applications. Owing to their high load bearing characteristic despite their less weight, these nanocomposites are widely used in the automotive sector.
- One of the key applications of polymer nanocomposites in the automotive industry include their usage in fuel systems. Their nano size results in the smooth surface and helps in retaining any damage against corrosion and other barriers. The fuel lines are protected from the sour gas resulting in preservation of base resin properties. Additionally, these materials help in preventing the build-up and discharge of damaging static electricity at fuel systems.
- Polymer nanocomposites are also used for automotive exterior plastic parts in imparting conductivity, which is subjected to electrostatic painting, such as door handles, mirror housing, fender, etc.
- Hence, such investments indicatethe wait for development and production of new vehicles in the market, which is further expected to drive the demand for polymer nanocomposites market in the coming years.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific accounted for the largest share in the global polymer nanocomposite market, owing to widespread adoption in industrial and automotive sectors in countries, like India and China.
- The aviation industry in China is said to be adding around 6,000 new airplanes between 2016 and 2033. China’s domestic air passenger market experienced the biggest incremental rise, in terms of the number of journeys made by passengers, when compared to the previous years.
- The increase in the number of passengers encourages the government to invest more in the production of more flights, which, in turn, increases the consumption of polymer nanocomposites.
- Industries, like packaging, electronics and semiconductor, aerospace, defense, and coatings are continuously finding newer applications, which will further ignite the growth of polymer nanocomposites market in Asia-Pacific in the future.
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