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According to a new technical market research report, Nanocomposites, Nanoparticles, Nanoclays, and Nanotubes from BCC Research, global consumption of nanocomposites was $252 million in 2005.
This figure will reach $288 million by the end of 2006 and, at an average annual growth rate of 24.4%, $857 million by 2011.
Clay nanocomposites accounted for nearly one-quarter (24%) of total nanocomposite consumption by value in 2005, followed by metal and metal oxide nanocomposites (19%) and carbon nanotube composites (15%). By 2011, clay nanocomposites are projected to increase their market share to 44%. Other market share gainers between 2005 and 2011 include metal/metal oxide nanocomposites and ceramic nanocomposites which are projected to attain market shares of 20% and 11.5% respectively. Carbon nanotube composites, meanwhile, are expected to lose market share, down to 7.5%.
Global Forecast of Nancomposites Consumption, 2005-2006, and 2011 (Tons and $ Millions)
Automotive parts, energy, and packaging were the main nanocomposite applications in 2005, with 29%, 28%, and 19% of the market respectively. Other major applications in 2005 were coatings (14%) and ESD (8%). By 2011, packaging is expected to become the leading nanocomposite application, with over 28% of the market. Energy applications remain in second place in 2011, with more than 26% of the market. Automotive applications will be the third-largest application in 2011, with over 15% of the market, followed by coatings with 14%.
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