Vancouver, British Columbia, Jan. 27, 2021 (GLOBE NEWSWIRE) -- The global smart nanomaterials market is expected to reach a market size of USD 8.91 Billion by 2027, as a result of major R&D initiatives driving steady revenue growth, according to a current analysis by Emergen Research. Increasing use of smart nanomaterials in end-user industries such as cosmetics, food and beverages, pharmaceuticals and healthcare, chemicals, electronics etc., is mainly driven by the materials’ unique physiochemical properties.
Nanotechnology is also used in the bioprocessing industry as food additives and in the packaging industry as antimicrobial agents and anti-caking agents to ensure long shelf life of processed food products. Further advancements in the field of nanomaterials is expected to result in the development and introduction of more efficient solutions for various applications in sectors such as power engineering, biotechnology, and others.
In addition, besides the existing drug delivery solutions, advancements in nanomaterial technology will result in efficient targeting and drug delivery a specific affected organ. The adjustable physical and chemical properties of nanomaterials, and ability for these to be used to help to create new technology of rapid diagnostics of living organisms is a major factor expected to drive application in medical devices, electronic devices and products. In addition, these properties also enable increasing applications in coatings, and paint industries, which is a major factor expected to drive market growth to a significant extent over the forecast period.
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Increasing product adoption for aerospace applications to improve durability and strength of aircraft part and components, as well as increasing applications in medicinal imaging is expected to drive growth of the market.
Further Key Findings From the Report Suggest:
- In October 2018, Hebrew University introduced a USD 9 million seed fund, which was launched to support research and development initiatives on smart materials and nanotechnologies, conducted by various nanotech companies to focus on 3D printing, quantum science, and renewable energy.
- In March 2020, researchers at Korea University and Okinawa Institute of Science and Technology Graduate University in Japan developed “Spiral Hydroporator”, which is a unique way of delivering particles and chemical compounds into the cells by opening cell membranes, including proteins, DNA, and drugs, without causing any vital damage.
- In January 2021, ELTA Systems, which is a subsidiary of Israel Aerospace Industries, announced a joint nanotechnology and metamaterial startup accelerator program with MassChallenge Israel. The joint initiative will boost research services of nanotech, metamaterial startups in Israel.
- Asia Pacific market is accounted for a 24.7%% share of the global market. The increasing capital investment in research in nanotechnology is fostering the greater demand for smart material among various end-user industries.
- Key players operating in the market are Abbott Laboratories, Advanced Nano Products Company Ltd., Akzo Nobel, BASF AG, Bayer AG, Altair Nanotechnologies Inc., Almatis GmbH, Quantum Dot Corp, JM Material Technology, Inc., and Yosemite Technologies Co., Ltd.
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For the purpose of this report, Emergen Research has segmented the global smart nanomaterials market based on types, application, end-use, and regions as follows:
- Types Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
- Carbon-Based
- Metal-Based
- Polymeric
- Others
- Application Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
- Display Technology
- Drug Delivery
- Coating and nanofilms
- Monitoring and Biosensing
- Water Treatment
- End-Use Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
- Pharmaceuticals
- Transportation
- Electronics
- Construction
- Environment
- Others
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- Regional Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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