The global nanocomposites market is expected to reach 1.5 billion lbs by 2017, according to a new report by Global Industry Analysts Inc. Growth will be primarily driven by rising levels of government participation in R&D funding, especially in developing countries; increased role of private venture capitalists; technology advancements in production processes; falling prices; and waxing demand for high strength structural materials across a range of end-use markets.
Growing demand for nanocomposites is reportedly fuelling the demand for nanotubes as filler nano-materials. Carbon nanotube-based electronics and semiconductor applications are expected to witness tremendous demand in the years to come. With their exceptional physical, thermal and electrical conductivity properties, carbon nanotubes will offer new business opportunities for these end-use sectors.