Rapid Growth of the Solar Energy Industry Has Increased the Demand for Multimetal Dielectric Nanocomposites; Thereby, Fueling the Market Growth.
Hyderabad, India - July 14, 2021 /MarketersMedia/ —
Multimetal Dielectric Nanocomposite Market size is forecast to reach $665.8 million by 2026, after growing at a CAGR of 2.7% during 2021-2026, owing to the increasing usage of multimetal dielectric nanocomposite in various end-use industries such as electrical & electronics, aerospace, solar energy, and more. Multimetal dielectric nanocomposites are a mixture or matrix in which new material properties are formed by combining different materials.
Multimetal Dielectric Nanocomposite Market COVID-19 Impact
Due to the Covid-19 outbreak, the multimetal dielectric nanocomposites end-use industries are facing issues such as delays in receiving multimetal dielectric nanocomposites from the manufacturers due to the restriction on import and export of materials. Moreover, the Covid-19 pandemic is having a huge impact on the aviation industry. Aircraft production has been disruptively halted, leading to substantial losses in the overall aerospace market.
Multimetal Dielectric Nanocomposite Market Segment Analysis – By Type
The high-K segment held a significant share in the multimetal dielectric nanocomposite market in 2020 and is growing at a CAGR of 3.6% during 2021-2026, owing to the increasing application of multimetal dielectric nanocomposite. The properties of multimetal dielectric were altered by incorporating additives such as nanowires, nanotubes, and metal matrix composites, which opened new specialized applications in electronics.
The multimetal dielectric nanocomposites with high dielectric constant (high-k) properties are widely applicable in the technological sectors including gate dielectrics, actuators, infrared detectors, tunable capacitors, electro-optic devices, organic field-effect transistors (OFETs), sensor, and more.
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Multimetal Dielectric Nanocomposite Market Segment Analysis – By End-Use Industry
The electrical & electronics segment held the largest share in the multimetal dielectric nanocomposite market in 2020 and is growing at a CAGR of 5.8% during 2021-2026, owing to the increasing demand for nanowires, nanotubes, and metal matrix composites based multimetal dielectric nanocomposite from the sector. In mobile electronic devices, stationary power systems, hybrid electric vehicles, and applications for pulse power, electrical energy storage plays a key role. In particular, capacitors that can absorb a large amount of energy and then deliver it almost instantaneously are increasingly required.
Multimetal Dielectric Nanocomposite Market Segment Analysis – By Geography
Asia Pacific region held the largest share in the multimetal dielectric nanocomposite market in 2020 up to 39%, owing to the increasing demand for nanowires, nanotubes, and metal matrix composites based multimetal dielectric nanocomposite from the electrical and electronics industry in the region. According to China's National Integrated Circuit Development Promotion Outline, the Chinese government plans to spend heavily on the electronics industry, especially IC manufacturing and design.
By 2022, China's IC output will grow at a rate of more than 14% per year on average. Singapore has one of the most diverse semiconductor industries in the Asia Pacific, according to the Singapore Economic Development Board (EDB). The electronics industry attracted S$3.3 billion in fixed asset investments (FAI) in 2015, accounting for 28.6 percent of the total FAI allocated to Singapore.
Multimetal Dielectric Nanocomposite Market – Drivers
Flourishing Solar Energy Sector
The multimetal dielectric nanocomposites are often used in solar energy to maximize absorption at wavelengths relevant to the solar spectrum. Formulation of favorable government policies, growing awareness about renewable energy sources among the masses, increasing investments, and more is flourishing the solar energy market in various regions.
Flourishing Aerospace Industry
The multimetal dielectric nanocomposites are found to have improved the optical, electrical, and magnetic properties as well as tribological, corrosion-resistance, and other protective properties of aerospace. Thus, there is an increasing demand for multimetal dielectric nanocomposites from the aerospace sector. According to the International Trade Administration (ITA), in 2019 China was the world’s second-largest civil aerospace and aviation services markets and one of the fastest-growing markets. In 2016, according to Boeing, China is estimated to require around 6,810 new commercial aircraft, valued at USD 1 trillion, through the next two decades. The Current Business Outlook of Boeing estimated demand for 2,520 new aircraft in the Middle East by 2030.
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Multimetal Dielectric Nanocomposite Market – Challenges
Lack Of Access And High Cost of Raw Material
Different glass sectors and individual plants use a wide range of raw materials. The main raw materials include silica sand, soda ash, limestone, feldspar, and dolomite. The most significant challenge faced by the advanced glass industry is the scarcity of raw materials such as silica sand and limestone in most of the regions. Only a small proportion of available sand deposits are suitable for glass manufacture.
Multimetal Dielectric Nanocomposite Market Landscape
Major players in the multimetal dielectric nanocomposite market are Denka, 3M Company, Altair, Henze, Bruker Nano Gmbh, H.C.Starck, NovaCentrix, Nanosys, and Advanced Nano Products.
Key Takeaways
Asia Pacific dominates the multimetal dielectric nanocomposite market, owing to the increasing electrical & electronics industry in the region. According to the Electronic Industries Association of India (ELCINA), in 2017-18, India's total electronics output was Rs 387,525 crore, up from Rs 317,331 crore in 2016-17, a 22 percent increase.
Multimetal dielectric nanocomposite based on nanowires, nanotubes, and metal matrix composites has a wide range of properties, including improved modulus, flexural strength, heat distortion temperature, barrier properties, and other advantages, and, unlike traditional mineral reinforced systems, they have no impact or clarity trade-offs. The demand for multimetal dielectric nanocomposite is expected to develop as a result of these properties.
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