ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has published a research report titled “Nanocomposites (Carbon Nanotubes, Polymer Metal Fiber, Nanofibers, Graphene, Nanoplatelet and Others) Market for Automotive, Aviation, Electronics, Energy, Construction, Healthcare, Plastics, Military, Consumer Goods and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018”.
By revenue, the nanocomposites market was worth US$1.91 billion in 2011 and is expected to reach US$5.91 billion by 2018, growing at a CAGR of 18.0% between 2012 and 2018. By volume, the global nanocomposites market will grow at a 17.5% CAGR from 2012 to 2018.
Increased significance of vehicle safety and vehicle weight reduction is the major factor driving the nanocomposites market. Increased application of nanocomposites in construction is also significantly contributing to market growth.
On top of this, due to high consumption of nanocomposites in electronics and semiconductors, the nanocomposites market is exhibiting elevated product sales in the last few years. However, high cost associated with certain necessary products in some end-use industries is one of the factors inhibiting growth of the nanocomposites market.
Medical and healthcare, military and defense, environment and water, plastics and packaging, and consumer goods are some of the major end-use industries for nanocomposites.
In the automotive sector, nanocomposites find application in windshields, headlight covers, door paneling etc. Nanocomposites also find application in the aviation industry for aircraft construction and replacement of parts.
In electronics and semiconductors, nanocomposites are used as conducting surfaces, base for circuits, and other high-end usages. In the power generation and energy sector, nanocomposites have a range of applications in turbines, windmill blades, and others.
Building and construction accounted as the largest end-use sector for the nanocomposites market in 2011 and held over 15% of the total market.
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