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Multimetal Dielectric Nanocomposite Market Size Forecast to Reach $665.8 Million by 2026

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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.

The nanocomposites have different phases as zero-dimensional (core-shell), one-dimensional (nanowires and nanotubes), two-dimensional (lamellar), and three-dimensional (metal matrix composites). The rapid growth of the solar energy industry has increased the demand for multimetal dielectric nanocomposites; thereby, fueling the market growth. Furthermore, the flourishing electrical and electronics industry is also expected to drive the multimetal dielectric nanocomposite industry substantially during the forecast period. The high cost of initial capital expenditure, on the other hand, is expected to stifle business growth.

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.

For instance, according to the International Air Transport Association (IATA), worldwide domestic flights have dropped by 70% and the loss of passenger revenue is reaching $314 billion. According to the services and information of the Welsh Government, demand for production of short-haul aircraft worldwide (overall manufacturers) is likely to decline by 15 percent (about 1,500 fewer aircraft out of 10,000) and by 30 to 65 percent for long-haul craft by the end of 2025, (around 600 – 1,300 fewer aircraft out of 2,000). With the decrease in aircraft production, the demand for multimetal dielectric nanocomposites for manufacturing various parts has significantly fallen, which is having a major impact on the multimetal dielectric nanocomposites market growth.

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. All these extensive characteristics of high-K multimetal dielectric nanocomposite are the key factor anticipated to boost the demand for high-K multimetal dielectric nanocomposite in various regions during the forecast period.

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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.

For a range of military and commercial applications, this kind of “pulse power” is required. Over time, these applications demand ever-higher energy and power densities as well as higher rate capability. And multimetal dielectric materials can be used to store electrical energy in the form of charge separation when the electron distributions around constituent atoms or molecules are polarized by an external electric field. Thus, the demand for multimetal dielectric nanocomposites is increasing in the electrical & electronics market during the forecast period.

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.

According to Invest India, India’s share in global electronics manufacturing has grown from 1.3% in 2012 to 3% in 2018. Besides, by 2025, India’s Consumer Electronics and Appliances Industry are forecast to be the fifth-largest in the world. By 2025, India’s digital economy could be worth $800 billion to $1 trillion, and its digital economy could account for 18–23% of overall economic activity. Thus, with the expanding electronics industry, the demand for multimetal dielectric nanocomposite will also subsequently increase, which is anticipated to drive the multimetal dielectric nanocomposite market in the APAC region.

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. For instance, on 16 September 2019, during the G5 Sahel summit in Burkina Faso, the heads of state gave strong support to Desert to Power, an initiative launched by the Africa Development Bank (AFDB) in 2018. The initiative aims to develop 10 GW of solar power for the 250 million people across the Sahel region via a network of solar power generation, producing 10GW by 2025. According to the Ministry of Business, Innovation & Employment (MBIE), with 126 GWh of solar electricity generation in New Zealand, 2019 saw an increase of 27 percent over 2018. In June 2016, the Minister of Economic Affairs announced the new target of 20 GW PV power by 2025 (17 GW ground-mounted and 3 GW rood-top systems). Thus, the booming solar energy industry in various regions acts as a driver for the multimetal dielectric nanocomposite market during the forecast period.

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. Also, according to Boeing India is expected to drive the demand for 2,300 aircrafts worth US$320 billion over the next 20 years. Hence, the increasing aviation industry acts as a driver for the multimetal dielectric nanocomposites market.

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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. For instance, only six UK sites produce silica glass suitable for the manufacture of flint container glass. Also, there is volatility in the price of raw materials used in the manufacturing of advanced glasses. According to the All India Glass Manufacturers’ Federation (AIMGF), raw material costs in India as a percentage of sales revenue have increased by 1.23% during the periods 2014-15 and 2017-18. These factors are hampering advanced glass market growth.

Multimetal Dielectric Nanocomposite Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the multimetal dielectric nanocomposite market. 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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Contact Information:

Venkat Reddy
Sales Director
Email: [email protected]
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677