Advanced polymer nanocomposites are fabricated using two major components, namely, polymer matrix and reinforcing fiber material. Manufacture of advanced polymer nanocomposites involve a number of artificial fibers such as carbon and aramid as well as polymer and glass resins including epoxy, phenol, polyester and poly acrylic. Advanced polymer nanocomposites find huge applications in aerospace, automotive, marine, aviation and energy sector. Composite materials are coming out as lucrative substitutes for metals such as titanium, aluminum and steel in aircraft components such as chemical reaction vessels and turbine blades as composites yield lighter weight of end-products along with better resistance towards chemical corrosion. Additionally, advanced polymer nanocomposites furnish weight reduction and thus results in higher fuel efficiency. Moreover, advanced nanocomposite materials exhibit higher structural rigidity, material strength and durability as compared to other composite materials, thus gaining competitive advantage in the polymer industry. Advanced polymer nanocomposites include fibers and resins. Fibers encompass aramid fibers, carbon fibers and glass fibers whereas resins include phenolic resins, polyester resins, and epoxy resins. Carbon and glass fibers are gaining phenomenal prominence especially in applications that demand light weight structures such as wind mill blades, auto parts, aircraft structures and components, marine structures and electrical components. Advanced polymer nanocomposites find huge consumption in the aforementioned applications owing to their versatility, fatigue and stiffness and resistance to abrasion. Superior structural rigidity, high durability, material strength and relatively better functional properties distinguish advanced polymer nanocomposite materials from conventional composites. Other important applications of advanced polymer nanocomposites include packaging, electronics, energy, semiconductors, automotive, construction among various others.
Rise in demand for larger aircrafts is anticipated to be one of the vital factors driving the demand for advanced polymer nanocomposites. Moreover, glass fiber accounts for the largest market share in the global advanced polymer nanocomposites market. High demand for commercial aircrafts coupled with rapid rise in costs of aviation fuel are some key factors anticipated to fuel the global demand for advanced polymer nanocomposites over the next foreseeable years. Moreover, increasing demand for non-conventional energy sources such as hydro energy and wind energy are expected to drive the overall demand for glass fibers to a significant rate. Also, rising demand for advanced polymer nanocomposites for lightweight aircraft and aircraft components is another key aspect propelling the growth of global advanced polymer nanocomposites market. However, soaring production costs of advanced polymer nanocomposites is one of the major factors hampering the growth of global advanced polymer nanocomposites market.
The global advanced polymer nanocomposites market can be segmented on the basis of product type, fiber type, raw material, application and geography. By product type, the global advanced polymer nanocomposite market can be segmented into metal oxide, nanoclay, carbon nanotubes, nanofiber, graphene, recycled paper and others. On the basis of fiber type, the global advanced polymer nanocomposites market can be bifurcated into thermosetting and thermoplastics. On the basis of application, the global advanced polymer nanocomposites market can be segmented into automotive, aerospace, defense, marine, energy, coatings, semiconductor and electronics, healthcare, sports and others. On the basis of raw material, the global advanced polymer nanocomposites market can be divided into resins and fibers. Resins segment can be further subdivided into polyester resin, epoxy resin, phenolic resin and others. Fibers segment can be further sub-categorized into aramid, carbon, glass and others. On the basis of geography, the global advanced polymer nanocomposites market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.
The key players involved in manufacturing of advanced polymer nanocomposites are focusing on key market strategies like acquisition of local and small players to strengthen market reach, expansion in highly lucrative developing regions and increasing number of product launches to survive in the competitive market. Major players in the global advanced polymer nanocomposites market include Owens Corning, Du Pont De Nemours Company, Mitsubishi Rayon, Toray Industries, PPG Industries, Alcoa Inc., Kemrock Industries and Exports, Hexcel, Cytec Inc., and TPI Composites among others.