The global nanoclays market is anticipated to witness significant growth on account of widespread applications in aerospace & aviation, automotive, toiletries, biomaterials, medical & dyes, pigments, and paints. These nanoparticles are chemically synthesized or naturally occurring inorganic minerals and are used as adhesives for polymers to improve its mechanical, barrier, and thermal properties. Growing demand from packaging and coating application is further expected to drive the market owing to high performance and hygienic nature of nanoclays based materials. Another key driver is the rising demand for nanoclays based nanocomposites coupled with demand for packaging which include lifestyle, end-use product demand renewability, and distribution. The growth of the automotive and aerospace industry globally is further fueling the market development and demand for the product in the coming seven years.
The nanoclays market is segmented on the basis of applications which include automotive parts, coatings, adhesives and medical industry. Studies suggest that these nanoparticles have an application in developing new bones in patients having bone decay and damage. They can also be used for drug delivery for treatment of various diseases. Calcium nanoclays are used for treating colitis, stomach ulcers, anemia and hemorrhoids. Nanoclays composites replace steel and metal parts to reduce weight in marines and automobiles leading to improved efficiency and reduced carbon emissions.
Organically modified nanoclays also called organoclays are an emerging segment of hybrid organic-inorganic nanomaterials with potential applications as gas absorbents, drug delivery carriers, and gas absorbents. Organoclays exhibit superior thermal, mechanical and gas-barrier properties making them ideally suited for use in pollution control and water treatment. Introduction of nanoclays as additives or fillers in polymers has huge potential for research and development studies. Nanoclays are inorganic minerals therefore supply of raw materials and mining issues are key constraints for the market players. R&D leading to technological advancement in the field of nanotechnology is expected to open new avenues for major players in the market over the projected period.
North America emerged as the largest geographical market for nanoclays in terms of production and consumption. Rising demand for packaging and coating application is expected to drive the market in this region. Asia Pacific followed North America in consumption on account of high demand from paints & coatings and the automotive industry. Increasing income of middle class coupled with changing lifestyle in countries such as China and India is anticipated to drive the demand for nanoclays in packaging applications.
The nanoclays market is concentrated with few players which include Southern Clay Products Inc., FCC China, Nanocor Corporation, Techmer, Kowa Company Ltd., Elementis Specialties, Unicoop, Sum Chemical, Kunimine Industries, and Ube Industries. High production cost and high capital investment owing to high-end technology is expected to affect the entry of new market participants over the forecast period.
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