Global Nanoclay Market to Reach $2.9 Billion by 2026

Nanoclays are naturally-occurring or artificial inorganic minerals intended to be employed as adhesives to polymers for improving thermal, mechanical and barrier-related properties. Growth in the global market is being driven by growing applications in aerospace and automotive applications and use in biomaterials, toiletries, pigments, medical & dyes, and paints. In automotive industry especially nanoclay composites can replace metal and steel parts to reduce weight of automobiles leading to improved efficiency and reduced carbon emissions. Steady growth in automobile sales and production and growing activity in aerospace industry will therefore fuel demand prospects for nanoclays in the coming years. Rising demand from packaging and coating application is also expected to boost market opportunities for nanoclay materials given their high performance capabilities and hygienic nature. The market is expected to receive a major growth stimulus from increasing applications in the medical industry. These nanoparticles are finding use in development of bones for patients experiencing bone damage or decay. Nanoclays offer a suitable option for drug delivery to treat several medical conditions. The market is gaining from emergence of organoclays, organically-modified nanoclays, as an effective hybrid organic/inorganic nanomaterial holding potential application as gas absorbent.

Amid the COVID-19 crisis, the global market for Nanoclay estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$2.9 Billion by 2026, growing at a CAGR of 9% over the analysis period. Smectite, one of the segments analyzed in the report, is projected to grow at a 9.9% CAGR to reach US$1.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Kaolinite segment is readjusted to a revised 8% CAGR for the next 7-year period. This segment currently accounts for a 32.2% share of the global Nanoclay market. The sodium form of smectite, known as bentonite, is a commonly used water mud additive. Many applications and products from the cosmetics and agricultural industry, including cat litter producers preferably use natural forms of bentonites. The adsorption properties of smectites allow them to adsorb natural organic compounds as well as herbicides and pesticides. Kaolinite is a layered silicate clay mineral which is produced from the chemical weathering of feldspar or other aluminum silicate minerals. Kaolin find use in ceramics, cosmetics, toothpaste, white incandescent light bulbs, industrial insulation material, paints, and adhesives among others.

The U.S. Market is Estimated at $582.5 Million in 2021, While China is Forecast to Reach $292 Million by 2026

The Nanoclay market in the U.S. is estimated at US$582.5 Million in the year 2021. The country currently accounts for a 31.72% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$292 Million in the year 2026 trailing a CAGR of 11.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.6% and 8.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR while Rest of European market (as defined in the study) will reach US$329.8 Million by the end of the analysis period. North America represents the largest market for nanoclays in terms of consumption and production, driven by rising demand in packaging and coating applications. Asia-Pacific is emerging as a major consumer of nanoclays owing to the low-cost production and availability of cheap labor, establishing the region as a prominent manufacturing hub globally. The regional market is propelled by rapid urbanization and spike in construction activity.

By End-Use, Packaging Segment to Reach $1.1 Billion by 2026

In food packaging applications, nanoclay are used to improve the mechanical as well barrier properties of the packaging. Nanoclays are used as a plastic additive in food packaging films or beverage bottles. In the global Packaging (End-Use) segment, USA, Canada, Japan, China and Europe will drive the 9.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$524.3 Million in the year 2020 will reach a projected size of US$970.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$149.5 Million by the year 2026.