Nanoclays are high in demand as they are extensively used for the reinforcement of liquid silicone rubbers, polymer films, fibers, non-woven materials in polymer nanocomposites, and hybrid phenolic friction composites. The need for nanoclays is expected to rise as there is a huge demand for light weight vehicles and nanoclay-reinforced polymers help in the reduction of weight in vehicles. In addition to this, they also help in improving the engine efficiency and lowering harmful emissions. Moreover, customers demand low cost and nanoclays are comparatively cheaper than other nanomaterials, thus boosting their market. According to a report published by Transparency Market Research, the global nanoclay market is expected to rise from US$1,222.0 mn in 2014 to US$3,369.3 mn by 2023, expanding at a 12% CAGR between 2014 and 2023.
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Q. What are the difficulties faced by players in the global nanoclay market?
To operate in the nanoclay industry requires intensive capital and high-end patented technologies. These two factors are acting as barriers for new entrants wishing to enter the nanoclay market. In addition to this, companies need to constantly invest large amounts for research and development activities, in order to sustain in the global nanoclay market, which is advancing by the day. Owing to all these factors, it is expected that the threat of new entrants shall remain low in the coming years.
Q. What are the factors driving the global nanoclay market?
The demand for nanoclays is driven by their ability to provide better clarity, chemical resistance, and superior barrier properties against moisture, gases, vapor, and UV transmission. Nanoclays also provide thermal stability and excellent mechanical properties owing to their nanoscale size and high surface to volume ratio. Owing to these properties, they are in demand from the adhesives, cable inks, coatings, pharmaceuticals, and automotive industries. Governments across countries are also aiding the market’s growth by supporting research and development in nanoclays. The flourishing packaging industry for food and beverages in Asia Pacific is expected to create a heightened demand for nanoclays.
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Q. What opportunities lie in the global nanoclay market?
The aerospace and defense sectors are projected to have enormous potential in the nanoclays market. NASA considers miniaturization as the key to explore new frontiers in space and this has created a need for light-weight and small sensors and materials, which have advanced electronic and photonic systems for navigation and communication. As such, nanoclays are expected to be in high demand. In addition to this, the defense sector is also investing extensively in nanoclays. A case in point would be the U.S. army which contracted with the Massachusetts Institute of Technology (MIT) to design combat gear for soldiers that camouflage with the environment and also change from soft fabric to bullet proof armor. The application of nanoclays is also increasing from the automotive sector. All these factors will serve as opportunities for growth in the market and drive the global nanoclays market towards growth.
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