The global nanofillers market size was USD 1.05 Bn in 2022 and is expected to reach USD 100.19 Bn by 2031, expanding at a CAGR of 10.5% during 2023–2031. Increasing demand for the plastic industry is likely to boost the market.
Nanofillers are tiny particles that are typically less than 100 nanometers in size. They are often made of materials such as silica, carbon, nanotubes, graphene, or other nanoparticles that are added to polymers or other materials to enhance their mechanical, electrical, and thermal properties.
The three types of nanofillers are one nanoscale dimension, two nanoscale dimensions, and three nanoscale dimensions. Nanofillers are increasingly being used in a variety of applications such as electronics, medical devices, automotive components, and consumer products. For example, nanofillers are used to make materials that are strong, flexible, or resistant to wear and tear.
The use of nanofillers is a rapidly growing area of research & development, and their unique properties are being studied to develop new and innovative applications. However, concerns about the potential health and environmental risks associated with their use, and ongoing research is being conducted to understand these risks and develop appropriate safety measures.
Nanofillers Market Dynamics
Major Drivers:
Increasing usage of plastic fillers is expected to drive the market, due to the high demand for nano clays, montmorillonite, and hydrotalcite. Expansion of the paints & coatings industry is anticipated to boost the nanofillers, due to the wide range of end-users such as automotive, healthcare, construction, aerospace, architectural, and ornamental industries.
Growing number of infrastructure projects in different regions is expected to fuel the market, due to the growing population has fueled the demand for developed and managed infrastructure. According to Statista, India has the most infrastructure projects in development or execution around USD 25 million as of May 2022. As opposed to the contrast to India’s 1,944 construction projects, the US had 1,866 projects, and China with 1,175.
Restraints:
Low manufacturing costs, due to the proliferation of new production technologies restrains the market. Development of internal pressure and low impact & tensile strength in the composites, strengthened with nanofillers is expected to restrain the market in the coming years.
Scope of the Nanofillers Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Nanofillers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Organic and Inorganic), and Application (Plastics, Concrete, Paints & Coatings, Films & Rubber, and Adhesives & Sealants)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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TradeBIG.com; Toyota Central R&D Labs., Inc; Shenzhen Nanotech Port Co., Ltd.; Reade International Corp.; Qingdao ECHEMI Digital Technology Co., Ltd.; NanoMaterials Technology; nanoComposix; Nano Science and Technology Institute; Intelligent Materials Private Limited; Henkel Corporation; Hangzhou Keli Chemical Co., Ltd.; Galaxie Corporation; FUSO CHEMICAL CO., LTD.; DuPont; and 3M
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Nanofillers Market Segment Insights
Based on type, the nanofillers market is divided into organic and inorganic. The inorganic segment is expected to expand at a significant pace during the projection period. An inorganic nanofiller is a particulate inorganic material with an individual size of nanometers. Inorganic nanofillers are made from a variety of materials such as ceramics, metals, and polymers.
The organic segment is anticipated to hold a key share of the market in the coming years, as it enhances the properties of fillers in nanofillers. Organic nanofillers is used as dispersants, stabilizers, and wetting agents. Organic nanofillers act as multifunctional agents for the use in several applications such as food & beverage packaging materials, cosmetic care products, and the construction industry.
On the basis of application, the global market is segregated into plastics, concrete, paints & coatings, films & rubber, and adhesives & sealants. The paints & coatings segment is projected to register a considerable CAGR during the forecast period, due to the growing demand for paints & coatings in different sectors including construction, automotive, and architecture. Nanofillers with lubrication properties are used to decrease friction and improve wear resistance. The addition of ceramic, polymer, and metal nanoparticles to the metal matrix is done to obtain a composite coating. This process facilitates attractive properties including resistance to corrosion.
The concrete segment is anticipated to account for a major share of the market in the coming years. Nanofillers control the morphology of hydration products, which enhances the properties and structural performance of the concrete.
In terms of region, the global nanofillers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period, due to rapid urbanization and the expansion of the manufacturing sector in developing countries. Increasing demand for plastic fillers in the plastic industry, especially in emerging countries such as China is likely to fuel the market in the region. Moreover, increasing demand for paper & rubber industries is likely to boost the market in the region.
Segments
The global nanofillers market has been segmented on the basis of
Type
Application
- Plastics
- Concrete
- Paints & Coatings
- Films & Rubber
- Adhesives & Sealants
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Toyota Central R&D Labs., Inc
- Shenzhen Nanotech Port Co., Ltd.
- Reade International Corp.
- Qingdao ECHEMI Digital Technology Co., Ltd.
- NanoMaterials Technology
- nanoComposix
- Nano Science and Technology Institute
- Intelligent Materials Private Limited
- Henkel Corporation
- Hangzhou Keli Chemical Co., Ltd.
- Galaxie Corporation
- FUSO CHEMICAL CO., LTD.
- DuPont
- 3M
Competitive Landscape
Key players competing in the global nanofillers market are TradeBIG.com; Toyota Central R&D Labs., Inc; Shenzhen Nanotech Port Co., Ltd.; Reade International Corp.; Qingdao ECHEMI Digital Technology Co., Ltd.; NanoMaterials Technology; nanoComposix; Nano Science and Technology Institute; Intelligent Materials Private Limited; Henkel Corporation; Hangzhou Keli Chemical Co., Ltd.; Galaxie Corporation; FUSO CHEMICAL CO., LTD.; DuPont; and 3M.
These key players adopt various strategies including mergers, acquisitions, collaboration, partnerships, product launches, and production expansion to get an edge over the competitors.
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In March 2021, nanoComposix signed an agreement with BIOZOL Diagnostic Vertrieb GmbH, to distribute of nanoComposix products. nanoComposix manufactures a range of nanomaterials to allow the development of technology ranging from lateral flow to optical displays and lighting applications.