Rising Demand for Reinforced Polymers in Automotive Industry to Drive Demand for Nanoclay; Global Market to Expand at 12.0% CAGR between 2015 and 2023
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. 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...