Aug 21 2014
Research and Markets has announced the addition of the "Global Nanocomposites Market 2014-2018" report to their offering.
The analysts forecast the Global Nanocomposites market to grow at a CAGR of 17.69 percent over the period 2013-2018.
In terms of type, the market is segmented into the following:
- Clay-based Nanocomposites
- Carbon Nanotubes-based Nanocomposites
- Others.
Bio-based nanocomposites are developed using nano-sized particles that are derived from renewable sources. The commonly used bio-based nano-sized particles include deacetylated chitosan and cellulose such as eucalyptus wood cellulose nanowhickers. Such products are known for their sustainability and have witnessed an increasing number of applications in various industries such as Transportation, Energy, and Building and Construction. Vendors such as Melodea offer bio-based nanocomposites in the market.
According to the report, many drivers are contributing to the growth of the Global Nanocomposites market, the most important of which is the increase in the demand from the Automotive industry. Nanocomposites are known to contribute to a reduction in vehicular weight and emissions in addition to the enhancement of engine efficiency.
Further, the report states that despite the presence of several drivers, certain challenges are restricting the growth of the Global Nanocomposites market. One of the major challenges is the high R&D cost associated with nanocomposites. While raw materials such as polymers contribute to increased costs, the development of application-specific nanocomposite products for industries such as Healthcare also requires regulatory approvals.
Source: http://www.researchandmarkets.com/