Burlingame, June 20, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global nanomaterials market is estimated to be valued at US$ 11.0 billion in 2022 and is expected to exhibit a CAGR of 14.2% during the forecast period (2023-2030).
Analysts’ Views on Global Nanomaterials Market
Nanotechnology is the general term for designing and manufacturing anything whose use depends on a specific structure at the nanoscale. This includes devices or systems created by manipulating individual atoms or molecules, as well as materials that have very small structures. Nanomaterials have emerged as an amazing class of materials that consists of a broad spectrum of examples with at least one dimension in the range of 1 to 100 nm. Nanomaterials can occur naturally, created as by-products of combustion reactions, or be purposefully produced through engineering to perform a specific function. Nanomaterials can be used in the healthcare, electronics, cosmetic, and textiles industry, as well as in information technology and environmental protection.
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Key Trends and Analysis of the Global Nanomaterials Market:
High demand for electrical and electronic products or rapid growth of the electrical and electronics industry is one of the key trends expected to propel the growth of the global nanomaterials market. The demand for nanomaterials has been greatly increasing owing to major advances in computing and electronics, leading to the smaller, faster, and more portable systems that can manage and store progressively larger amounts of information. Some of the major applications include the usage of a variety of nanomaterials in lighting technologies (LEDs or OLEDs), the use of carbon nanotubes in semiconductor chips, and the usage of quantum dots in lasers, among others. Therefore, the use of nanomaterials has increased in the electrical and electronics industry.
Global Nanomaterials Market – Drivers
Increasing demand for nanomaterials to propel market growth
With the increasing applications of nanomaterials in various end-use industries, the use or demand of nanomaterials worldwide is also increasing at a rapid pace. In June 2022, Versarien announced the launch of a new hybrid nanomaterial that has superparamagnetic properties, which can be used across a range of applications, such as defence and healthcare. A new superparamagnetic material combines graphene with both iron oxide and manganese oxide nanoparticles that provide material with magnetic properties. The material could also lends be used in biomedical and biotechnology applications, or defence applications requiring the shielding of electromagnetic fields.
Nanomaterials Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2022: | US$ 11.0 Bn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 14.2% | 2030 Value Projection: | US$ 31.9 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | ACS Material, American Elements, Arkema Group, BASF SE, Cabot Corporation, CHASM Advanced Materials Inc., Chengdu Organic Chemicals Co. Ltd (Timesnano), Jiangsu Cnano Technology Co. Ltd, LG Chem, Nano-C, Nanocyl SA, Nanophase Technologies Corporation, OCSiAl, Raymor Industries Inc., Showa Denko K.K., And Zyvex Technologies | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Increasing applications of nanomaterials to drive market growth
Increasing usage of nanomaterials in water treatment applications is expected to increase demand for nanomaterials, which will lead to the market growth. Nanotechnology holds great potential in advancing water and wastewater treatment to improve treatment efficiency as well as to augment water supply through safe use of unconventional water source. Moreover, nanomaterials have been found to be effective in elimination of several pollutants from wastewater, including heavy metals, color as well as biological toxins, both organic & inorganic solvents, and pathogens that may cause diseases such as typhoid and cholera.
Global Nanomaterials Market – Restrain
High cost of technology to hamper the market growth
The main concern about nanotechnology is the cost. Nanotech is an expensive area of the research, and largely confined to developed nations with strong infrastructure. Thus, using or purchasing technology as a whole becomes expensive. Scientists are concerned that underdeveloped countries will fall further behind as they cannot afford this technology. Moreover, the cost required for the research and development activities for the integration of nanotechnology into various applications is expected to hinder demand for nanotechnology. However, growing popularity of the technology will favor the market growth during the forecast period.
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Global Nanomaterials Market – Opportunities
Nanoparticles (NPs) are being increasingly used to target bacteria as an alternative to antibiotics. Nanotechnology may be particularly beneficial in the treatment of bacterial infections. Examples include the use of NPs in antibacterial coatings for implanted devices and medicinal materials to prevent infection and promote wound healing, in antibiotic delivery systems to treat a wide variety of diseases, in bacterial detection systems to generate microbial diagnostics, and in antibacterial vaccines to control bacterial infections. Bacterial infections are a major cause of chronic infections and mortality, and thus, the use or demand for antibacterial nanomaterials increasing rapidly.
Global Nanomaterials Market - Key Developments
In November 2022, American Elements invented a novel nanoscale electrolyte material for use in cutting-edge Lithium-Sulfur Battery technology. The electrolyte is a ceramic compound of lithium, lanthanum, and zirconium oxide nanoparticles that is energy-dense and stable in a wider range of temperatures than typical electrolytes used in commercial lithium-ion batteries.
In March 2021, Cabot Corporation announced the launch of a new ENERMAX 6 carbon nanotube (CNT) series. ENERMAX 6 carbon nanotube products are the company’s latest development in high-performance CNTs. With its high aspect ratio, it is proven to be the most conductive multi-walled CNT product in Cabot’s portfolio.
Key Market Takeaways:
Global nanomaterials market is expected to exhibit a CAGR of 14.2% during the forecast period. The nanomaterials market is growing rapidly in response to the increasing demand for nanomaterials due to increasing application of nanomaterials in various end-use industry.
On the basis of Product Type, Nanoparticles Segment is expected to dominate the market during the forecast period and this is attributed to the increasing adoption of nanotechnology and nanotechnology materials worldwide.
On the basis of Structure Type, Non-polymer Organic Nanomaterials Segment is expected to dominate the market during the forecast period and this is attributed to the high demand for electrical and electronic products worldwide.
On the basis End User Industry, Healthcare Segment is expected to dominate the market during the forecast period and this is attributed to the increasing demand for antibacterial nanomaterials from the healthcare industry.
On the basis of Geography, North America is expected to hold a dominant position over the forecast period due to increasing demand for nanomaterials in the region.
Competitive Landscape:
Key players operating in the global nanomaterials market include ACS Material, American Elements, Arkema Group, BASF SE, Cabot Corporation, CHASM Advanced Materials Inc., Chengdu Organic Chemicals Co. Ltd., Jiangsu Cnano Technology Co. Ltd., LG Chem, Nano-C, Nanocyl SA, Nanophase Technologies Corporation, OCSiAL, Raymor Industries Inc., Showa Denko K.K., Zyvex Technologies, among others.
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Detailed Segmentation:
Global Nanomaterials Market, By Product Type
- Nanoparticles
- Nanofibers
- Nanotubes
- Nanoclays
- Nanowires
Global Nanomaterials Market, By Structure Type
- Non-Polymer Organic Nanomaterials
- Polymeric Nanomaterials
Global Nanomaterials Market, By End-User Industry
- Healthcare
- Electronics
- Energy
- Construction
- Rubber
- Personal Care
- Other End-User Industries
Global Nanomaterials Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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