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Global Nanoclay Market to Expand at a CAGR of 12.0% between 2015 and 2023: TMR

Published on 2015-11-06. Author : SpecialChem

Transparency Market Research has published a new market report titled “Nanoclay Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023.” According to the report, the global nanoclay market was valued at US$1.22 bn in 2014 and is anticipated to reach US$3.37 bn by 2023, expanding at a CAGR of 12.0% between 2015 and 2023.

TMR
Fig. 1: Transparency Market Research

Nanoclay are mineral silicate nanoparticles that occur in nanometer-scale in thickness. Commonly used nanoclays available in the market include montmorillonite, bentonite, kaolinite, halloysite and hectorite. These are extensively used in industries such as automotive, packaging, paints & coatings, flame retardants, aerospace, and marine.

Rising demand for reinforced polymers in the automotive industry is expected to be the major driver of the nanoclay market during the forecast period. Demand for reinforced nanoclay is high in the packaging industry, as it offers properties such as superior flame resistance, enhanced transparency, decreased gas permeability, and higher mechanical strength. Furthermore, increasing demand for nanoclay in various industries such as packaging, automotive, personal care, and paints & coatings in emerging markets of Asia Pacific and Eastern Europe is estimated to propel the nanoclay market. High production costs and significant capital investment are likely to hamper market growth in the near future. Advancement in technologies, led by research & development activities, is projected to open growth avenues for the market in next few years.

In terms of volume, smectite was the largest product segment of the nanoclay market and accounted for over 60% of the demand-based share in 2014. Montmorillonite from the smectite group is extensively used in packaging and automotive applications owing to its high purity content. Major end-user industries of nanoclay include packaging, automotive, flame retardants, and paints & coatings. In terms of volume, packaging accounted for approximately 25% share of the global nanoclay market in 2014. It is estimated to be the fastest growing segment during the forecast period owing to significant demand for nanoclay composites in packaging due to their superior properties. Nanoclays are widely used to manufacture automotive components such as head lamp covers, engine covers, timing belt covers, body panels, and side trims. Growth in the automotive industry in the BRIC nations is expected to drive the nanoclay market in the near future.

Commercialization of nanoclays and nanoclay composites has increased significantly in the last decade. In terms of volume, North America dominated the global nanoclay market with more than 40% share in 2014. It was followed by Asia Pacific and Europe. Significant industrial growth in the coatings and packaging industries in the U.S. is the one of the major factors driving the nanoclay market in the region. The nanoclay market in Latin America and Middle East & Africa is anticipated to expand significantly in the near future owing to expansion in various industries such as automotive, paper & pulp, paints & coatings in these regions. Key players in the nanoclay market include Elementis Specialties Inc, Kunimine Industries Co. Ltd, UBE Industries, Mineral Technologies Inc., RTP Co., and Techmer PM.

The report segments the nanoclay market as follows:

Nanoclays Market – Product Segment Analysis

  • Kaolinite
  • Smectite
  • Others (Including vermiculite, illite, etc.)

Nanoclays Market – End-user Analysis

  • Packaging
  • Flame retardants
  • Automotive
  • Paints & coatings
  • Others (Including aerospace, marine, personal care, etc.)

Nanoclays Market - Regional Analysis

  • North America 
    • U.S.
    • Rest of North America
  • Europe 
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific 
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America 
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA) 
    • GCC
    • South Africa
    • Rest of MEA

About Transparency Market Research

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Source: Transparency Market Research

 

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