DALLAS, February 12, 2015 /PRNewswire/ --
The report "Polymer Nanocomposites Marketby Type (Nanoclay, Carbon Nanotube, Graphene, Metal-Oxide, Nanofiber and others), By Applications, and By Region - Global Trends and Forecasts to 2020", published by MarketsandMarkets, The market for Polymer Nanocomposites in terms of value is expected to reach above $5,100 Million by 2020, growing at a significant CAGR from 2014 to 2019.
Browse more than 97 MarketData Tables and 54 Figures spread through 170 Pages and in-depth TOC on "Polymer Nanocomposites Market"
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It also identifies the driving and restraining factors for the Polymer Nanocomposites Market with an analysis of trends, opportunities, burning issues, and winning imperatives. The market is segmented and the volume & value have been forecasted on the basis of major regions such as North America, Asia-Pacific, Europe, and Rest of the World (RoW).
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Increase in demand of Polymer Nanocomposites from Automotive Industry
The demand of light weight automotive parts has given an edge to polymer nanocomposites due to its high strength and light weight properties. The use of polymer nanocomposites enabled automotive parts reduction in light weight vehicles, improved engine efficiency, reduction in CO2 emissions and superior performance. The automotive industry can benefit from polymer nanocomposites in several applications such as powertrain, suspension and breaking systems, exhaust systems and catalytic converters, lubrication, tires and body parts. The advantage of nanocomposites over conventional composites is that their mechanical, electrical, thermal, barrier and chemical properties such as increased tensile strength, improved heat deflection temperature, flame retardancy etc.
Global Polymer Nanocomposites Market to reach above $5,100 Million by 2020
The market for polymer nanocomposites in terms of value is expected to reach above $5,100 million by 2020, growing at a significant CAGR from 2014 to 2019. The Asia-Pacific region dominated the PolymerNanocompositesMarket in terms of values in 2013 and it is expected to grow at a higher CAGR, from 2014 to 2020. Large packaging industry and increasing automotive and aerospace industry in Asia-Pacific region helped it to dominate the global market. The electrical & electronics market in Eastern Asian market, driving the polymer nanocomposites application market.
Europe & Asia-Pacific accounted for more than 60% share in the Polymer Nanocomposites Market in terms of value in 2013
Asia-Pacific is the prime consumer of polymer nanocomposites globally followed by Europe. Europe and Asia-Pacific together accounted for more than 60% of the polymer nanocomposites in terms of value in 2013. Asia-Pacific is expected to grow at a highest CAGR and secure its leading market position by 2020, with developing new application areas in electrical & electronics and automotive market. In Europe the use of polymer nanocomposites continues to increase in automotive industries to replace the other conventional composites that reduces the weight of vehicles and increases the mileage.
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