Nanoclays Market Size is Expected to Boom at a CAGR of 12.43% by 2030 | Rising demand for Nanoclay-Based Nanocomposites
The global Nanoclays market is forecasted to reach USD 6,010.74 Million by 2030, according to a new report by Reports and Data. Nanoclays are a group of nanofillers and is extensively used in the production of polymer nanocomposites. The product is widely used in industries like automotive, aviation, biomaterials, toiletries, pigments, paints, dyes, and medical.
Nanoclays are nanoparticles that are chemically synthesized or occur naturally as inorganic minerals. These are used as adhesives for polymers as they enhance their barrier, thermal, and mechanical properties. The growing demand from the packaging, as well as coating industries, is expected to lead to a surge in demand for Nanoclays as these provide high performance and hygienic properties.
The Nanoclays Market is also witnessing high demand due to the increasing consumption of Nanoclays based nanocomposites along with the demand for packaging that includes lifestyle and end-use products that need renewability and distribution. Growing aerospace and automotive industries are expected to further fuel the demand and market development in the forecast period. The market is witnessing a high growth rate from regions like Asia and Europe due to the growing manufacturing activities.
Major companies profiled in the global market report include – Southern Clay Products Inc., FCC China, Nanocor Corporation, Techmer, Kowa Company Ltd., Elementis Specialties, Unicoop, Sun Chemical, Kunimine Industries, and Ube Industries, and Mineral Technologies Inc., among others.
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The COVID-19 impact: The COVID-19 pandemic has led to lockdowns in major countries of the world. This has led to the operations of many industries being halted. Industries that find applications for Nanoclays, such as the automotive, aviation, and packaging industries, are also not operating in the current scenario. This has led to a decline in the demand for the product. Major manufacturers involved in the market have also halted operations currently, which has led to a reduction in the supply.
Further key findings from the report suggest
Vermiculite is a type of Nanoclay. It has the property of being porous and can easily absorb water. It can hold up to 3 to 4 times its weight in water. Hence, it is known to be an effective growing medium. It finds applications in making compost with peat or coir, as it creates an ideal situation for plant growth,
The Offline segment is forecasted to grow at a CAGR of 11.6% in the forecast period. This is primarily due to consumers wanting to physically examine the product before purchasing to make sure it fits their requirements.
In the end-user segment, the flame retardants segment is forecasted to grow with a CAGR of 11.7% in the forecast period. The product is used as it is environment friendly and does not lead to the formation of toxic volatiles and by-products, as is the case with other alternatives.
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The Middle East and Africa are forecasted to grow at a CAGR of 11.6% in the forecast period. This is due to the presence of countries like South Africa, the UAE, and Saudi Arabia, where industries, such as automotive, aviation, and packaging, are witnessing growth, thus increasing the demand for Nanoclays.
K. and Germany are among the largest consumers of Nanoclays, primarily due to the presence of many end-use industries in the region. Increasing awareness regarding curtailing carbon emissions in the region is also driving the market demand for Nanoclays.
The COVID-19 impact: The COVID-19 pandemic has led to lockdowns in major countries of the world. This has led to the operations of many industries being halted. Industries that find applications for Nanoclays, such as the automotive, aviation, and packaging industries, are also not operating in the current scenario. This has led to a decline in the demand for the product. Major manufacturers involved in the market have also halted operations currently, which has led to a reduction in the supply.
To know more about the report @ https://www.reportsanddata.com/report-detail/nanoclays-market
Segments covered in the report:
Product Outlook (Revenue, USD Billion; 2019-2030)
Kaolinite
Smectite
Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
Offline Stores
Online Stores
End-User Outlook (Revenue, USD Billion; 2019-2030)
Packaging
Flame Retardants
Automotive
Paints and Coatings
Others
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Regional Outlook (Revenue, USD Billion; Volume, Million Tons, 2019-2030)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Published Wed, 15 Jun 2022 03:51:45 -0500
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