Westford, USA, June 15, 2023 (GLOBE NEWSWIRE) -- The global Nanomaterials market size is expected to reach USD 32.83 billion by 2030 and exhibit a CAGR of 14.8% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing demand for nanomaterials in various applications such as electronics, healthcare, energy, and others, increasing investment in research and development of nanotechnology, growing demand for high-performance materials with unique properties, increasing use of nanomaterials in the automotive and aerospace industries, rising demand for energy-efficient products, growing adoption of nanomaterials in water treatment and purification are fueling the Market's growth.
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Device and component Miniaturization to Promote the Use of Nanomaterials
At a global scale, growing demand from the electronics and semiconductor industries due to the miniaturization of devices and components, increasing use of nanomaterials in the healthcare and medical sector, particularly for drug delivery and imaging applications, rising focus on sustainable and eco-friendly production methods for nanomaterials, such as green synthesis and recycling, growing adoption of nanomaterials in the energy sector for applications such as solar cells, energy storage, and fuel cells are several trends promoting the market growth
Several government initiatives promoting the growth of nanomaterials are the National Nanotechnology Initiative in the US, European Union horizon, Japan Society for the Promotion of Science promoting R&D, China's National Nanotechnology Initiative and the Nanotechnology Signature Initiative from the US are encouraging market growth.
Metal and Metal Oxide Type Demand to Grow Substantially in the Forecast Period
Metal and metal oxide type dominated the global market increasing use in various applications such as electronics, energy, and healthcare. It also has unique properties such as high strength, enhanced conductivity, and catalytic activity that make them highly sought after.
Electronics is the Leading Application Segment
In terms of application, electronics is the leading segment as they are widely used in the manufacturing of microprocessors, memory chips, transistors, and other electronic components. In addition, the use of nanomaterials in the production of lithium-ion batteries has been a significant driver of the nanomaterials market growth in the energy segment.
Asia-Pacific is the leading Market for Using Clean Energy
Region-wise, Asia-Pacific is one of the largest growing markets with a huge Demand from various end-use industries such as electronics, healthcare, energy, and automotive in countries like China, Japan, India and South Korea. Moreover, due to the large population, the region has an extremely huge consumer base and is home to several key manufacturers of nanomaterials contributing to the growth of the market. In Japan, the government's New Energy and Industrial Technology Development Organization (NEDO) has launched several initiatives to support the development and commercialization of nanomaterials-based products and technologies
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Nanomaterials Market Report Suggests:
- Boulder-based biotech company, SomaLogic Inc. (Nasdaq: SLGC), acquires California DNA nanotechnology firm Palamedrix Inc. for $52.5 million. SomaLogic utilizes machine learning to analyze thousands of proteins in a patient's blood or urine to identify health conditions and recommend potential treatments.
- In terms of application, the electronics segment dominates due to the wide use of nanomaterials.
- In terms of type, the metal and metal oxide type segment is projected to gain more popularity as it is used in various applications
- North America and Asia Pacific are dominating markets and will continue to exhibit dominance in the global market mainly due presence of major market players
Nanomaterials Market Segmentation:
The global Nanomaterials market report is segmented based on type, application, and region.
By Type
- Carbon-based nanomaterials
- Metal and metal oxide nanomaterials
- Dendrimers
- Nanoclay
- Nanocellulose
- Others
By Application
- Electronics and consumer goods
- Energy
- Healthcare
- Construction
- Aerospace and defense
- Others
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
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Nanomaterials Market Major Company Profiles:
- BASF SE
- NanoMaterials Technology Pte Ltd
- Arkema SA
- DuPont
- Sigma Aldrich Corporation
- American Elements
- Advanced Nano Products Co., Ltd.
- eSpin Technologies Inc.
- Nanophase Technologies Corporation
- Zyvex Technologies
- Showa Denko K.K.
- Nanosys Inc.
- QD Vision Inc.
- Raymor Industries Inc.
- SkySpring Nanomaterials Inc.
- Thomas Swan & Co. Ltd.
- Nanocyl S.A.
- Nanoscale Corporation
- NovaCentrix
- Carbon Nanotechnologies Incorporated (CNI).
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