Growing demand from the paint & coating and construction sectors are factors to drive the demand for the global nanofillers market in the forecast period, 2024-2028. According to TechSci Research report, “Global Nanofillers Market- By Region, Competition Forecast and Opportunities, 2018-2028”, The global Nanofillers market is projected to grow at an impressive rate in the forecast period, 2024-2028.
The Important Factors of the Global Nanofillers Market
Increasing demand from the construction and film industries is the primary factor affecting the market’s share of Nanofillers. Due to the improved surface qualities of polyurethane nanofiller, coatings are more resistant to corrosive chemicals, moisture, heat, and environmental factors, making them very demandable product paint & coating industries. Fluctuating raw material prices and adverse effects on professionals and users restrain the nanofiller market growth. Besides, the development of internal stresses along with lower impact and tensile strength in composites reinforced with nanofillers can hamper the market growth during the forecast period.
Government initiatives and policies over sustainable development and infrastructure projects are expected to further boost the nanofillers market’s demand. Global demand for nanofillers is anticipated to be driven by the plastics industry and its rapid expansion. The paints and coatings sector is expected to expand over the projected years of the wide range of end-users it serves, such as the construction, automotive, architectural, aerospace, healthcare, and ornamental industries. All these factors increased demand for the global nanofiller market in the projected period.
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The global nanofillers market is segmented based on type, physical form, and application. Based on type, the market is divided into organic and inorganic. The sulfonated naphthalene segment will hold the largest market share till 2028. As the organic nanofiller has an excellent antistatic agent, UV absorber, and flame retardant helps in providing desired properties of their product used in different industries like construction, cosmetics & personal care products, and food & beverages packaging materials. All these led to increased demand for organic nanofiller in the market and dominated its segment.
Based on application, the market is divided into construction, paints & coatings, plastics, adhesives & sealants, concrete, films & rubber, and others. The plastic segment will hold the largest market share till 2028. Enhanced mechanical properties, high strength-to-weight ratio, corrosion resistance, and cost savings are various advantages provided by the nanofiller. As such, properties are highly required in the market, leading to the plastic segment dominating the market.
Major companies operating in the global nanofillers market are:
- J.M. Huber Corporation
- DuPont de Nemours, Inc.
- 3M Co.
- Reade International Corp.
- Eka Chemicals AB
- Galaxy Corporation
- Intelligent Materials Private Limited
- Shanghai Yaohua Nanotech Co. Ltd
- Henkel Corporation
- Fuso Chemical Co. Ltd
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“The Asia- Pacific region is expected to register the highest growth in the global nanofiller market in the coming years due to its increasing construction activities, growing regional economy size, and innovative technologies. Increasing industrialization, growing automobile sector, and expanding manufacturing base are other factors driving the demand for nanofiller in the region. Currently, China is the world’s most prominent plastic manufacturing unit. In contrast, nano-filler producer Countries such as China, India, Malaysia, and Vietnam have seen significant increases in manufacturing centers for nanofiller applications. Government initiatives to set up manufacturing units in their countries have expanded the nanofillers market globally.
The key reason for market growth is to escalate the demand for nanotechnology-enabled goods in different end-use industries such as construction, paints and coating, automobiles, and plastic. The growing prevalence of the advantages of nanofillers among consumers and manufacturers is affecting the preferences while selecting the product.
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The increased acceptance of new production technologies that reduce manufacturing costs and growing R&D investments for the advancement of innovative nanofiller products and applications are propelling the market share and creating favorable conditions to drive the global Nanofillers market growth till 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Nanofillers Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Type (Organic, Inorganic), By Physical Form (Continuous, Discontinuous, Nanofillers), By Application (Construction, Paints & Coatings, Plastics, Adhesives & Sealants, Concrete, Films & Rubber), By Company and By Region, has evaluated the future growth potential of global nanofillers market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global nanofillers market.”