Key Drivers and Restraints of Biobased Epoxy Nanocomposites Market
- Biobased epoxy nanocomposites are primarily used in construction and paints coatings applications. Rise in demand for photoluminescent paints is likely to drive the global biobased epoxy nanocomposites market during the forecast period, owing to their widespread usage in the production of glow-in-the-dark paint on aircraft escape routes and in residential and commercial interior decor.
- Rise in demand for biobased epoxy nanocomposites as additives in paints coatings is expected to create significant opportunities for the biobased epoxy nanocomposites market in the near future
- Strong global response to contain carbon emissions and positive sentiment to resolve environmental issues are driving the demand for biobased epoxy nanocomposites in various end-use industries. Furthermore, increase in usage of photoluminescence paints in the production of dark paints used in interior decoration in residential and commercial buildings is expected to drive the market during the forecast period.
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Biobased Epoxy Nanocomposites: Composition Segment
- In terms of composition, the global biobased epoxy nanocomposites market can be divided into sorbitol polyglycidyl ether, biobased carboxylic acid, microfibrillated cellulose, and others
- The biobased carboxylic acid segment is projected to hold major share of the global biobased epoxy nanocomposites market during the forecast period. This can be ascribed to the rise in demand for biobased carboxylic acids, which are widely used as building blocks in several types of coating systems, including as hardeners for epoxy resins.
- The microfibrillated cellulose segment is projected to follow the biobased carboxylic acid segment during the forecast period. Microfibrillated cellulose is widely used in paints coating, adhesives, and agricultural chemicals due to its advantages of biocompatibility and biodegradability; and excellent mechanical, special optical and high barrier properties. The paints coatings industry uses a wide range of biobased epoxy nanocomposites in the production of paints for various applications including automobiles, buildings, and hardware. Expansion of the paints coatings industry is driving the global biobased epoxy nanocomposites market.
Biobased Epoxy Nanocomposites: Application Segment
- Based on application, the global biobased epoxy nanocomposites market can be segmented into paints coatings, electrical electronics, construction, adhesives, and others.
- The construction segment is projected to gain higher share of the global market during the forecast period. A large amount of biobased epoxy nanocomposites is used in various end-use industries including paints coatings and construction. Rise in construction activities and increase in demand for construction materials are likely to boost the market in the near future.
- The paints coatings segment is also projected to hold key share of the global biobased epoxy nanocomposites market in the near future, as biobased epoxy nanocomposites are widely used to protect metallic substrates from aggressive environmental corrosion due to their excellent adhesion, chemical stability, and barrier effect as anticorrosive films. This is expected to drive the global biobased epoxy nanocomposites market during the forecast period.
Asia Pacific to Hold Leading Share of Biobased Epoxy Nanocomposites Market
- In terms of region, the biobased epoxy nanocomposites market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East Africa
- Asia Pacific is expected to hold major share of the global biobased epoxy nanocomposites market, followed by North America and Europe, during the forecast period. This can be ascribed to the easy availability of raw materials at competitive prices in the region, as well as rapid growth of the building construction industry in China, India, Japan, and South Korea.
- The biobased epoxy nanocomposites market in Europe and North America is projected to expand at a rapid pace in the near future
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Key Manufacturers Operating in Biobased Epoxy Nanocomposites Market
The biobased epoxy nanocomposites market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the biobased epoxy nanocomposites market include:
- Entropy Resins
- Sicomin Epoxy Systems
- Wessex Resins
- Chang Chun Group
- Nagase ChemteX Corporation
- Spolchemie
- ATL Composites
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