Description :
Polymer nanocomposites are materials consisting different types of nanofillers uniformly dispersed in the polymer matrices . These nanofillers may be carbon nanotubes , nanoclays , metal-oxide , ceramics , and graphene among others . Polymer nanocomposites are gaining acceptance worldwide due to their enhanced mechanical , chemical , and physical properties rendered in them by dispersion of fillers at the nanoscale .
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In 2015 , the world polymer nanocomposites market was valued at $ 5,276 million and is projected to grow at a CAGR of 10.9 % during 2016-2022 . The growing demand for polymer nanocomposites from the automotive industry is the major driver for the polymer nanocomposites market . Polymer nanocomposite-enabled parts are gradually replacing the metal parts that are used in vehicles as they offer various advantages over them such as weight reduction , increased engine efficiency , fuel savings , reduced CO2 emissions , and superior strength . The stringent regulations on the emission of CO2 from vehicles also serve as an important factor supporting the growth of polymer nanocomposites in the automotive industry . Apart from their use in the automotive sector , polymer nanocomposites also find applications in the construction industry for repair and rehabilitation of buildings and bridges .
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The world polymer nanocomposites market is segmented in this report on the basis of type , application , and geography . On the basis of type , the market is segmented into carbon nanotubes , nanoclays , metal-oxide , ceramics , and others . Nanoclays accounted for the highest revenue-generating segment of the world polymer nanocomposite market with three-fifth of the total market share in 2015 . The market is segmented into construction , automotive , electrical & electronics , packaging , and others on the basis of applications . The packaging industry is the fastest growing segment of the polymer nanocomposites industry owing to increasing demand for polymer nanocomposite-based packaging material due to their anti-microbial properties .
Geographically , the market is segmented into North America , Europe , Asia-Pacific , and LAMEA . North America accounted for the highest revenue-generating region in 2015 and is expected to maintain its lead throughout the forecast period . It was followed by Europe with around one-third of the total market share . The development of new polymeric resins by European-based companies is a major factor that drives opportunities in the European polymer nanocomposites market . These polymeric resins can be used for the modification of thermoplastic elastomers and other polymers . In addition , the use of polymer
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