Nanoclays Market Segmented By Kaolinite and Smectite product type in Offline Stores and Online Stores Distribution Channel
Industry: Chemicals and Materials
Format: PPT*, PDF, EXCEL
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Report Type: Ongoing
Report ID: PMRREP32497
According to latest research by Persistence Market Research, Nanoclays market is set to witness significant growth during 2021-2031 with CAGR of over 7% between 2021 and 2031. Demand will moderate to steady recovery in short-term, with optimistic growth outlook in the long-run.
Nanoclay is a favored commodity in industries such as automobiles, pharmaceuticals, and coatings due to its special properties such as chemical resistance, thermal stability, mechanical strength, and increased transparency. The product is also used in the building & construction industry, and the global expansion of the construction industry is driving demand for the product.
Due to the high performance and hygienic quality of nanoclays based products, the market is expected to be driven by the demand from packaging and coating applications.
Another important factor is the growing market of nanocomposites, which is being driven by lifestyle changes, end-use product demand, renewability, and distribution. In the next few years, the global growth of the automobile and aerospace industries will accelerate business expansion and demand for the commodity.
Major players of the market are making huge investments in the research and development of the product, due to which they are launching new products, thus driving the market growth.
Since the 1990s, nanoclays have been used in food processing & packaging. This is due to its advantages, which include a longer shelf life, more durable packaging, and high-temperature efficiency. In addition, the substance serves as a strong buffer against oxygen, films, and other gases. Other features of the product include its antimicrobial properties.
The substance is also used extensively in the aerospace industry. These are used in the manufacture of aircraft as a substitute for traditional materials because they help to reduce weight, saving thousands of tonnes of aeroplane fuel. These are often used in wind turbine blades because they make them lighter and yet stronger, which improves energy conversion performance.
North America emerged as the largest geographical market in terms of production and consumption. This is attributed to an increase in the region's demand for coating and packaging applications. The automobile industry dominates the demand in North America, but the packaging industry still plays a significant role as the leading market.
The region is also witnessing a high growth rate in the aerospace and the construction industries, due to which there is increasing consumption, thus leading to the growth of the market in the region.
Asia Pacific is expected to grow at a significant rate.This is due to the region's strong demand from the automotive and paints and coatings industries. Increased demand for Nanoclay applications is being driven by the region's population's growing disposable incomes, which are resulting in better customer lifestyles.
It is projected that owing to China's growing automotive and packaging industries, the nanoclay industry in Asia Pacific will rise at the fastest rate in the coming years. Due to rapid urbanisation, this region will also witness strong demand growth from construction industry, given the rapid rate of development of urban centers owing to mass migration from rural areas.
Some of the leading manufacturers and suppliers include
The market is concentrated with few players. High production cost and high capital investment owing to high-end technology is expected to affect the entry of new market participants. Mergers and acquisitions are a common occurrence in this sector.
For instance, in August 2019, DIC Corporation, Sun Chemicals' parent company, announced the acquisition of BASF's pigment business. DIC will be able to become a leading producer of pigments for cosmetics, coatings, plastics, inks, computer screens, and specialist applications as a result of this acquisition.
By Product Type
By End User
By Distribution Channel
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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