INTRODUCTION
STUDY BACKGROUND
Nanocomposites have been used commercially since Toyota introduced the first polymer/clay nanocomposite auto parts in the 1980s. Recently, advances in the ability to characterize, produce, and manipulate nanometer-scale materials have led to their increased use as fillers in new types of nanocomposites.
Manufacturers now mix nanoparticulate metals, oxides, and other materials with polymers and other matrix materials to optimize the composite’s properties with respect to color/transparency, conductivity, flame retardancy, barrier properties, magnetic properties, and anticorrosive properties, as well as tensile strength, modulus, and heat distortion temperature. These composites offer users significantly enhanced properties compared to conventional composite and noncomposite materials.
Global consumption of nanocomposites has increased significantly since BCC published its last market analysis in 2006, reaching 67,685 metric tons, with an estimated value of nearly $467 million in 2008. Nanocomposite consumption is growing rapidly, and is expected to reach 214,081 metric tons, or $1.4 billion in value, by 2014.
STUDY GOALS AND OBJECTIVES
Such rapid growth has raised expectations regarding nanocomposites’ commercial potential. The overall goal of this updated report is to provide suppliers of advanced materials, entrepreneurs, investors, and others with information concerning emerging nanocomposite technologies and applications, along with a realistic assessment of their commercial potential.
Specific objectives include identifying segments of the nanocomposite market with the greatest commercial potential in the near to midterm (i.e., 2009 to 2014), projecting future demand in these segments, and evaluating the challenges that must be overcome for each segment to realize its potential in order to estimate the probability of successful commercialization.
INTENDED AUDIENCE
This report is intended especially for nanocomposite and nanomaterials marketing executives, entrepreneurs, investors, venture capitalists, and other readers with a need to know the direction in which the nanocomposite market is headed in the next 5 years. Other readers who should find the report particularly useful include officials of government programs, such as the U.S. National Nanotechnology Initiative, that promote the development of the nanotechnology industry. The report’s findings and conclusions should also be of interest to the broader nanotechnology community.
SCOPE OF REPORT
The report addresses the global market for nanocomposites. Nanocomposites are a class of composites that have at least one component with nanoscale dimensions or structural features. This study, however, excludes certain materials (e.g., rubber to which carbon black nanoparticles have been added) that technically fit the definition of nanocomposites but have been in commercial use for decades.
The study format includes the following major elements:
- Executive summary
- Definitions
- Milestones in the development of nanocomposites
- Nanocomposites that are in commercial use or under development, associated technologies, and applications
- Nanocomposites with the greatest commercial potential through 2014
- Global nanocomposite market trends from 2008 to 2014
- Factors that will influence the long-term development of the nanocomposites market
- Nanocomposites industry structure and market shares
METHODOLOGY AND INFORMATION SOURCES
Projecting the market for emerging technologies such as nanocomposites, many with commercial potential that has not yet been fully proven, is a challenging task. This report uses a multiphase approach to identify the nanocomposites with the greatest commercial potential and to quantify their market.
In the first phase of the analysis, BCC Research identified a long list of nanocomposites, including those that are still under development. BCC then undertook a literature review to identify those nanocomposites that are unlikely to make it into commercial production before 2014, resulting in a short list of nanocomposites that have near- to mid-term commercial potential.
In phase two, BCC mapped these nanocomposites against potential end-user industries and applications, such as the automotive and food packaging industries, to identify the nanocomposites with the greatest commercial potential in the time frame covered by this report. Selection criteria included size of the market, characteristics of competing materials, and similar considerations.
In the third phase, BCC focused on quantifying the potential market for these high-potential nanocomposites and identifying the main prerequisites for commercial success. Various methodologies and data sources were used to develop the projections, including trend-line projections, input-output analysis, and estimates of future demand from industry sources.
The report includes detailed descriptions of the data sources, assumptions, and methodologies that were used in developing the market projections. BCC Research’s intent is to let readers judge the validity of its projections for themselves, thus enabling them to develop alternative market scenarios as they see fit.
ANALYST CREDENTIALS
Andrew McWilliams, the author of this report, is a partner in the Boston-based international technology and marketing consulting firm 43rd Parallel LLC. In addition to being the author of the previous (2006) edition of this report, he has authored numerous other Business Communications Co. studies of the nanotechnology and related fields, including NAN031C Nanotechnology: A Realistic Market Evaluation; NAN017D Nanostructured Materials: Electronic/Magnetic/ Optoelectronic; NAN017E Nanostructured Materials for Energy, Catalysis and Structural Applications; NAN017F Nanostructured Materials for the Biomedical, Pharmaceutical, and Cosmetic Markets;NAN044A Nanotechnology in Energy Applications; NAN015E Advanced Ceramics and Nano Ceramic Powders; NAN040A Nanomaterials Markets by Type; NAN038A Nanotechnology in Life Science Applications; NAN028A Nanocatalysts; NAN035A Nanosensors; NAN036A Nanotechnology for Photonics; and NAN037A Nanotechnology for Consumer Products.
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DISCLAIMER
The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or its use.
Report Code: NAN021D, Published: January 2010, Analyst: Andrew McWilliams
