Nanoclay Market to attain valuation of US$3.37 Bn by 2023 | CAGR of 12.0%

The global nanoclay market is the focus of study of a recent market research report published by Transparency Market Research. The report projects healthy growth prospects for the market and states that the market will expand at a 12.0% CAGR between 2015 and 2023. At this pace, the market, which had a valuation of US$1.22 bn in 2014, will rise to US$3.37 bn by 2023.The report is titled “Nanoclay Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023” and is available on the company’s website for sale.

Browse the full Nanoclay Market (Kaolinite, Smectite, and Others) Market for Packaging, Flame Retardants, Automotive, Paints & Coatings, and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023

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Nanoclays, which are mineral silicate nanoparticles, find application in a number of industries such as packaging, automotive, flame retardants, marine, and aerospace across a large number of application areas.The report states that the rising demand for nanoclay-based reinforced polymers, which lead to reduction in the weight of vehicles, in the automotive industry is the key factor that will drive the global nanoclay market over the report’s forecast period. Rising demand for nanoclay in a variety of industries in emerging markets in Asia Pacific and Eastern Europe is also expected to propel the global nanoclay market over the report’s forecast period.

However, the capital-intensive nature of the market is restricting the entry of new market players and is thus hindering the overall growth of the market to a certain extent. Nonetheless, the market features a rise in investment for research and development activities owing to the vast potential for the use of nanoclays in medical, agricultural, and other novel industrial applications. This is expected to lead to numerous growth avenues for the market over the report’s forecast period.The report segments the global nanoclay market on the basis of three criteria: product type, end use, and geography.

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