Nanocomposites Market | Exactitude Consultancy Reports

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Nanocomposites Market by Type (Polymer Matrix, Metal Matrix, Ceramic Matrix), by Product (Carbon Nanotube, Nanoclay, Metal/Metal Oxide), by Application (Packaging, Automotive, Electronics Electrical) and Region, Global trends and forecast from 2022 to 2029

The Nanocomposites Market is expected to grow at 16.2% CAGR from 2022 to 2029. It is expected to reach above USD 17.77 Billion by 2029 from USD 4.6 Billion in 2020.

Segment Analysis
Nanocomposite’s market is segmented based on type, product, application and region.

Based on type, a significant portion of the market was made up of polymer matrix. The market for polymer product type will be fueled by favorable government laws for product usage in the packaging, aerospace, and automotive industries. Due to its mechanical strength, gas barrier qualities, flame retardancy, superior thermal conductivity, electrical conductivity, and rheology, the product contributes to the advancement of synthetic plastic materials. Moreover, it is gradually replacing heavy metals used in the aerospace and automobile industries. Due to qualities like fracture toughness, high temperature, corrosion resistance, wear, and high damage tolerance, it is extensively employed in the aerospace and defense industry. They offer improved space conditions and electromagnetic shielding for aircraft.

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