Supportive government regulations for use of nanocomposites in packaging and food and beverage industry, increase in demand for nanocomposites in end use industries and growing demand enhanced mechanical and physical properties are expected to drive the growth of the nanocomposites market. The Global Nanocomposites market was valued at USD 3.9 billion in 2018 and is expected to reach USD 10.2 billion in 2026, growing at a CAGR of 10.5% during the forecast period Nanocomposites are commonly known as nanoparticles consist of small-sized particles in a matrix of standard material. The Nanocomposites are widely used in various end-user industries owing to better optical and magnetic properties, high tensile strength, high thermal and electronic conductivity, and high resistance to corrosion.
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Nanocomposites have a huge application in the food industry, due to an increase in demand for packaged foods, extend the shelf life of packaged food materials, and an increase in the shelf life of the packaged foods. Rising demand for nanocomposites in end-use industries like construction, automotive, packaging, electronics, and food in emerging countries is the key factors attributed to the market growth. Furthermore, the increasing demand for enhanced physical and mechanical properties in automotive components also expected to fuel market growth during the forecast period. On the other hand, high costs of nanocomposites and stringent government regulations regarding environment safety are acting as a restraint to this market. However, continuous development in commercializing bio-based nanocomposites and graphene-based nanocomposites and growing applications of nanocomposites in various end-user industries is expected to create major growth opportunities during the forecast period.
In March 2015, ZYVEX TECHNOLOGIES developed new product line named ZNT (Zyvex Nanotube Technology). ZNT is a polymer-modified carbon nanotube additive for a wide range of host matrices that include epoxies, elastomers, thermoplastics, and aqueous-based solutions.