Nanofillers market is expected to show significant growth over the forecast period owing to its increasing demand in the plastic industry. Nanofillers are additives in solid form mainly consisting of inorganic materials which enhance the mechanical and physical properties of the composites formed. Nanofillers could be formed using various elements or compounds to form different grades including boehmite alumina, aluminorganic, calcium carbonate, ceramic, carbon black, carbon nanotube, carbon fiber, cellulose, activated clay, natural clay, natural fiber, gold, graphite, and silver nanofillers. Nanofillers market is expected to increase over the next seven years owing to its ease of processing, sound absorption, advantageous mechanical and physical properties along with low prices. In addition, it serves as a flame retardant which is further expected to increase its market share over the forecast period. Nanofillers including montmorillonite, nanoclays and hydroalcite are expected to have high demand over the next seven years owing to its increasing usage as plastic fillers in the growing plastic industry. However, the market is expected to be restrained over the forecast period owing to the development of internal stresses along with lower impact and tensile strength in composites reinforced with nanofillers.
Nanofillers find applications in various industry including construction, paints & coatings, plastics, adhesives & sealants, concrete, films and rubber. Rapid industrialization and urbanization is expected to impact the construction sector significantly which in turn is anticipated to spur the market growth over the forecast period. Moreover, rising in the automotive industry along with increasing demand from rubber industry is predicted to fuel the market growth. Rising demand for paints & coatings in various applications including automotive, architectural, construction and decorative segment is expected to boost the market demand. Furthermore, increasing consumption in adhesives and sealants particularly in the packaging sector is further expected to augment the market growth over the upcoming period. In addition, growing application in films and plastics are predicted to increase the demand over the projected period.
Asia Pacific is expected to grow significantly over the forecast period owing to the rapid industrialization and rising manufacturing sector in this region particularly in China. China is expected to be the key driver for market growth owing to the increasing demand for plastic fillers in plastic industry. The market is expected to grow substantially owing to increasing demand from Japan, South Korea and India where cost efficiency provided by nanofillers is anticipated to act as the key driver. North America is anticipated to grow substantially over the projected period owing to the increasing demand for nanofillers in construction and automotive sector. Moreover, accelerating application of nanofillers in rubber and packaging industry is expected to spur the demand. Europe will contribute significantly towards market growth mainly owing to Netherlands and Germany where the growth in automotive and construction sector is anticipated to boost the demand over the forecast period. Latin America and MEA is expected to witness growth over the next seven years as a result of increasing demand in construction sector coupled with requirement of lesser investments in comparison to high cost additives.
Global key participants for the nanofillers market include Reade, Eka Chemicals AB, Galaxy Corporation, Shenzhen Nanotechnology Development Co. Ltd, DuPont, 3M Co., Intelligent Materials Private Limited, Nanomys Inc., Toyota Central Research Labs, Henkel Corporation, Shanghai Yaohua Nanotech Co. Ltd, Fuso Chemical Co. Ltd, Nanomaterials Technology Pte Ltd., Nanomaterials Technology (Shanxi) Co., Ltd (NMC), Jiangxi Huaming Nanometer Calcium Carbonate Co. Ltd and Hangzhou Keli Chemical Co., Ltd. Various R&D activities is being done by numerous companies focusing on several parameters including controlling and preventing exposure of nanofillers on workers, gaining knowledge regarding toxicity of composites using nanofillers, minimization of migration potential, prevention of nanofillers release on consumers and increasing cost efficiency in the composites using nanofillers. Toyota Central Research Labs introduced the use of nanofillers by using nanoclay in their product portfolio. 3M Co.’s subsidiary 3M ESPE offers Filtek, nanofiller technology which enables high strength, high aesthetic quality and wear resistance in the product. Filtek Supreme Universal Restorative is the first nanotechnology-based composite which uses nanoparticles resulting in excellent strength, polish retention and wear resistance in dental applications.
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