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Nanocomposites Market
radoffMay 23, 2021
The report on the Nanocomposites Market published by Stratview Research focuses on current trends, dynamics, insights and also predicts the market condition and its future during the forecast period of 2020 – 2027. The report provides in-depth insights into the market dynamics to enable informed business decision-making and growth strategy making based on the opportunities present in the market. The report is segmented by Application and Region and also covers the COVID-19 impact on the market.
Nanocomposites market is likely to witness an impressive CAGR of 15.7% during the forecast period. The prime factor contributing to the demand for nanocomposites is its growing adoption in automotive, packaging, defense, and aerospace industries/applications.
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The global nano-composites market is was evaluated at US$1,916.727 million in 2020. The market is expected to be driven by the increasing use of nanocomposites industries such as packaging, aerospace, automotive, electronics, energy, and others. The major advantage of nanocomposites is that exhibit better mechanical properties, enhanced optical properties, high ductility without the loss of strength, and has a high surface & volume ratio.
Increasing Demand in Aircraft and Aerospace Industry
The market is expected to be driven by the use of nanocomposites in aircraft manufacturing and construction. The advantage of nanocomposites is in their nature as they combine both the optimization of existing materials and the creation of novel materials. The increasing air passenger traffic is playing a major role in the surging number in the production of aircraft, worldwide. According to the World Bank, the number of