Nanomaterials to create US$ 16.8 Bn of absolute dollar opportunities between 2022 and 2030
Category: Chemicals & Materials ID: CVC-10105-CH Format: PDF Pages: 288
Nanomaterials Market Overview
The global nanomaterials market size was estimated at US$ 9.8 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of more than 13.3% between 2022 to 2032, as estimated by ChemView Consulting. Growing usage of nanoparticles in the healthcare industry, automotive and aerospace, and the growing applications of nanomaterials in water treatment are expected to drive up global demand.
The market has been predominantly influenced by certain industrial and innovation factors including research and development expenditure, commercialization of nanotechnology, and technology adaptation in the industrial sector.
Nanomaterials are nanometer-scale structures with at least one dimension of fewer than 100 nanometers. Nanomaterials are classified as zero-dimensional, one-dimensional, two-dimensional, or three-dimensional. Technological development along with focus in sustainability are expected to drive the market of nanoparticles.
What are the key drivers bolstering the consumption of nanomaterials?
The combination of factors, including excellent physio-chemical properties of nanomaterials, financial support from government organizations, rising application of these materials in healthcare, and automotive, are driving the demand for the nanomaterials market globally.
Increased demand for nanomaterials in the electronics and semiconductor industry is expected to be a key driver for global market growth during the forecast period. Nanomaterials, including nanowires, nanotubes, graphene, and cellulosic, are used to make flexible electronics because of their high aspect ratio, remarkable mobility, higher surface-to-volume ratio, and ability to integrate on non-conventional substrates.
During the review period, flexible nanomaterials demand is expected to grow rapidly, enhancing the growth outlook for nanomaterials shortly. In addition, increase in investment in research and innovations to create new nanomaterials and to commercialize the product is expected to fuel global market growth.
“Commercialization, scalability of the production, sustainability and growing applications of nanoparticles in medicine sector to drive the consumption.”
What challenges are faced by nanomaterials industry?
Factors, such as, growth in the number of individuals exposed to these nanoparticles, occupational exposure, and the projected evolution of potentially harmful repercussions in the future years are likely to demand more robust legislation. As a result, the anticipated increased stringency in nanomaterials and nanotechnology laws is projected to hamper future industrial progress.
Further, commercialization of the nanoparticles and their bulk applications are facing challnges with higher investments needed, which is also expected to hmper the growth outlook of the market.
Why is Asia-Pacific emerging as a promising market for nanomaterials?
The Asia Pacific region is expected to be the largest market for nanomaterials in 2022, accounting for 46.7% of worldwide sales. The increased usage of nanomaterials in electronics, medical equipment, aerospace and military, textiles, paints and coatings and automotive industries can be related to the surge.
This growth also has been attributed to continuous R&D and increasing investment in the development of nanomaterials in China and Japan for various applications. Because of the growing demand for nanotechnology, more significant investment in R&D by regional organizations, and government backing, among other reasons. BASF, a well-known nanotechnology manufacturer, spent around 2 billion euros on research & development in 2019.
The nanomaterials market is developing due to increased demand for specialty materials in the sector and fast-emerging industries such as energy, healthcare, and construction in countries such as, China and India. Furthermore, rise in foreign direct investments in the Asian countries for industrial sector is also expected to bolster the market growth outlook in the coming years.
What role does Europe play in the global nanomaterial market?
According to ChemView Consulting, the European market is estimated to reach US$ 4.6 Bn by 2030 end, owing to regional government backing and investment in the region’s multiple local marketplaces. The European Commission established the 2D-Experimental Pilot Line (2D-EPL), a new USD 23.0 million joint venture, to investigate the manufacture of breakthrough electrical devices, photonic devices, and sensors that use graphene and layered nanomaterials in the region.
Who are the key market participants and what are their growth strategies in nanomaterials market?
The market is estimated to be a fairly consolidated due to the existence of certain key players dominating in the global business. The companies specialize in certain types of nanomaterials and applications. The significant firms always focus on product innovation and capacity growth through R&D and partnerships with local or regional distributors and manufacturers.
Key industry players are anticipated to preserve their market position by introducing new products and expanding existing offerings. The introduction of goods with advanced features and customized product offers is expected to strengthen the positions of industry players.
The following are some of the prominent participants in the nanomaterials market:
Market Report Highlights:
Note: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may take time to reflect in the analysis.
|Historical Data Available for||2017-2021|
|Market Analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key Regions Covered||North America, Latin America, Europe, Asia Pacific, and Middle East & Africa|
|Key Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, Rest of Europe, China, Japan, Korea, India, Rest of Asia-Pacific, Brazil, Argentina, Saudi Arabia, UAE|
|Key Segments Covered||Product Type, End-Use Industry, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Nanomaterials Market Research Scope:
ChemView Consulting offers customizations according to the client’s specific requirements. There is no limit to the level of customization we offer to our clients if it falls under market research purview.