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Carbon Filler Based Nanocomposite Market size is projected to grow at a CAGR of 9.5% during the forecast period 2022-2027 and reach US$2.6 billion by 2027

HYDERABAD, TELANGANA, INDIA, February 10, 2023 /EINPresswire.com/ -- The Carbon Filler Based Nanocomposite Market size is projected to grow at a CAGR of 9.5% during the forecast period 2022-2027 and reach US$2.6 billion by 2027. Carbon filler based nanocomposites are primarily composed of various elements, including activated carbon, carbon black, graphene, carbon nanotubes and nanodiamonds. Some of the examples of polymer composites based on carbon filler include polyphenylene sulfide, polyetheretherketone, polyamides, polyesters and more. They are primarily used in various industries including construction, automotive, aerospace and others. The expansion of the carbon filler based nanocomposite market is primarily driven by their usage in the automotive industry. In 2020, the COVID-19 pandemic negatively impacted automotive production, temporarily affecting the growth of the carbon filler based nanocomposite industry. However, a steady recovery in automotive production activities has been witnessed since 2021, which in turn, is driving the demand for carbon filler based nanocomposites. According to the International Organization of Motor Vehicle Manufacturers, the total global automobile production reached 80.2 billion units in 2021, an increase of 3% as compared to 77.7 billion units in 2020. An increase in automotive production along with the growth in the aerospace industry is expected to drive the growth of the Carbon Filler Based Nanocomposite market size in the upcoming years. Meanwhile, environmental concerns associated with the toxicity of nano products may confine the market growth.

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Key takeaways:

This IndustryARC report on the Carbon Filler Based Nanocomposite market highlights the following areas -

1. Carbon nanotubes held a significant share in the Carbon Filler Based Nanocomposite Market in 2021. Its wide range of characteristics and high flexibility made it stand out in comparison to other types of carbon fillers in the market.

2. Automotive industry held a significant share in the Carbon Filler Based Nanocomposite Market in 2021, owing to the increasing demand for Carbon Filler Based Nanocomposites from the automotive sector across the world.

3. Asia-pacific dominated the Carbon Filler Based Nanocomposite Market in 2021, owing to its increasing demand from the automotive sector in the region.

4. A detailed analysis of strengths, weaknesses, opportunities and threats of major market players would be provided in the Carbon Filler Based Nanocomposite Market Report.

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Segmental Analysis:

Carbon Filler Based Nanocomposite Market Segment Analysis – by Type : The carbon nanotube held a significant Carbon Filler Based Nanocomposite Market share in 2021, owing to a range of characteristics and benefits they offer over other types of carbon fillers. For instance, carbon nanotubes offer higher thermal conductivity and elasticity in comparison to activated carbon, carbon black and graphene-based nanocomposites. Moreover, it also offers very high tensile strength along with excellent flexibility as compared to other types of carbon filler based nanocomposites.

2. Carbon Filler Based Nanocomposite Market Segment Analysis – by End-use Industry : The automotive industry held a significant Carbon Filler Based Nanocomposite Market share of over 20% in 2021, due to the increasing automobile production across the world. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total production of passenger cars in South America, Asia-pacific and Africa increased by 11%, 7% and 8%, respectively, in 2021 as compared to 2020.

3. Carbon Filler Based Nanocomposite Market Segment Analysis – by Geography : Asia-pacific held a significant Carbon Filler Based Nanocomposite Market share of over 28% in 2021. The consumption of Carbon Filler Based Nanocomposites is particularly high in this region due to its increasing demand from the automotive sector in the region. Recent insights published by the OICA (International Organization of Motor Vehicle Manufacturers) during the fourth quarter of 2020 state that around 25 million, 3.5 million, 8 million and 3.4 million units of vehicles were produced in China, South Korea, Japan and India, respectively, which in turn, contributed to approximately 50% of the global automobile production during 2020.

Competitive landscape:

The top 5 players in the Carbon Filler Based Nanocomposite industry are:

1. 3M
2. Cybershield Inc.
3. Parker Chomerics
4. Dow Chemical Company
5. Schaffner Holding AG

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