The global polymeric nanoparticles market is expected to witness significant growth over the forecast period on account of growing automotive industry and increasing preference for nanoparticles in electronics manufacturing. Increasing applications of nanoparticles in automotive components such as body panels, tires, engine parts, door inner, and head lamp covers are expected to complement above the global market growth. Polymeric nanoparticles are gaining prominence in a wide range of electronic products such as laptops, desktops, mobile phones, and personal data assistants. Rising disposable income in emerging economies of Asia Pacific has led to increased mobile phones and laptops demand. This trend is expected to benefit the global polymeric nanoparticles market growth over the forecast period.
Polymeric nanoparticles exhibit properties such as high electrical conductivity, enhanced dimensional stability, and high heat resistance. Polymeric nanoparticles are gaining acceptance in compact electronics manufacturing on account of the above stated. Increasing market penetration in aerospace and pharmaceutical industries is expected to further drive polymeric nanoparticles demand. Widespread R&D to incorporate polymeric nanoparticles in medical devices and drug delivery systems is expected to open up new application avenues for the market. Increasing application scope is anticipated to provide market participants with opportunities over the forecast period. Stringent regulatory policies regarding polymers are expected to remain a key challenge for market growth.
North America emerged as a major polymeric nanoparticles consumer and is expected to grow at a steady rate on account of increased demand for light weight vehicles. Stringent regulations to reduce vehicular weight in order to improve fuel efficiency are expected to further drive polymeric nanoparticles demand. Asia Pacific is further expected to witness a high growth rate on account of favorable government regulations and innovations in the field of nanotechnology. Growth of electronics industry in China, Taiwan, and South Korea coupled with increasing prominence for nanoparticles in electronic components is expected to complement the Asia Pacific market growth over the forecast period.
High initial investment cost is expected to remain a key barrier for new market entrants. Key players operating in the global polymeric nanoparticles market are BASF SE, Arkema Group, 3MESPE, Cabot Corporation, Nanophase Technologies Corporation, Zyvex Technologies, Industrial Nanotech Inc, Nanoledge SA, Cyclics Corporation, Hybrid Plastics, Inframat Corporatiion, and Nanocor Incoprorated.
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The shortage in supply of raw materials from Chinese manufacturers has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. However, the producers are expected to move away from China aiming to reduce the future risks that would affect the business and to reduce the manufacturers' cluster in a single country in order to smoothen the supply chain. The report will account for Covid19 as a key market contributor.