Nanomaterials Market Share, Size, Trends, Industry Analysis Report, By Application (Aerospace, Automotive, Medical, Energy & Power, Electronics, Paints & Coatings, Others), By Product; By Region; Segment Forecast, 2022 - 2030
- Published Date:Jan-2022
- Pages: 111
- Format: PDF
- Report ID: PM2239
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global nanomaterials market was valued at USD 7.78 billion in 2021 and is expected to grow at a CAGR of 14.8% during the forecast period. Key factors that positively influence market growth include government financing and support for nanomaterials to support prospective growth, partnerships, and strategic alliances. In addition, in the forecast years, a fall in the price of nanomaterials will enhance the marketing of the forecasting years.
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Furthermore, mounting concerns about engineered nanomaterials' environmental impact and toxicity, as well as high processing costs and stringent government regulations, may hamper the industry in the forecasting years. Utilization across numerous end-use sectors, on the other hand, presents considerable opportunity for the global nanomaterials market throughout the forecast period.
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Industry Dynamics
Growth Drivers
Increasing nanomaterials applications and ongoing research & development for generating new and improved materials are driving the industry growth. The worldwide demand is being driven by such a number of factors including strong physio-chemical properties of nanoparticles, financial help from government organizations, and increasing application of these materials in healthcare and automotive, among others.
The constantly developing nanotechnology domains are also helping to drive the global market growth. Besides that, the rising usage of nano-medicine in the pharmaceutical domain and developing applications in the electronics industry are propelling the global nanomaterials market expansion in forecasting years. Furthermore, the rising availability of different techniques and tools for synthesizing nanomaterials, such as covalent synthesis and self-assembly, is boosting industry growth. They have a high surface-to-volume ratio, high porosity, and improved physicochemical characteristics, among other advantages.
Report Segmentation
The market is primarily segmented on the basis of product, application, and region.
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By Product |
By Application |
By Region |
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Insight by Product
The carbon nanotubes segment held the largest share in 2021. This is primarily due to its frequent application in lithium-ion batteries and is extensively absorbed in manufacturing supercapacitor electrodes. These tubes are also used as catalysts for electrode support in PEM fuel cells, owing to their high thermal conductivity and comparative high surface area. For its capacity to limit bacterial development and prevent the formation of new cell structures, titanium dioxide nanoparticles are predicted to see a considerable increase in demand. By 2028, the segment is anticipated to reach a significant amount of revenue, with a considerable increase expected during the forecast period.
Insight by Application
During the forecast period, the medical segment is expected to hold the largest share of the nanomaterials market. According to its wide variety of applications, such as imaging, targeted medication administration, nanorobots for surgery, nano diagnostics, cell healing, and nano biosensors, the medical application sector held a significant share in 2021 and is anticipated to expand significantly during the forecast period.
Rapid advancements in the electronics sector, driven by rising demand for high-tech goods, are expected to boost demand for nanomaterials throughout the projected period. Because of their high magnetic susceptibility, which offers an effective magnetic enhancement, nanomaterials are employed as coatings in printed electronics, nanoelectronics, and nano-electromechanical systems.
Geographic Overview
Geographically, in 2021, Asia Pacific had the highest market share. With increasing semiconductor manufacturing and rising product penetration, the region is anticipated to develop at the highest rate. Increased supply in micro-electronics and nano-electronics, the region is anticipated to rise at a high CAGR during the forecast period. Due to the existence of large developed and advanced economies such as the United States and Canada, North America's economy is very diverse. Over the forecast period, the increasing demand for nanomaterials in the area is anticipated to be driven by continued investments in nanoparticle research & development to explore potential product applications in different end-use sectors.
For instance, researchers at Michigan University have used carbon nanotubes, which are supposed to be light-weight, and have high tensile strength, to develop 3D printed nanocomposite polymeric ink. This ink has the potential to replace epoxies and could be widely used for other purposes.
Due to growing investments in technical breakthroughs for successfully capturing renewable energy and the ability of nanoparticles to enhance the efficiency of organic solar cells, Europe is predicted to reach a significant amount of revenue in 2028. Over the projected period, increasing usage of nanoparticles for the detection and treatment of various medical problems is expected to boost demand for the industry.
Due to the growing application scope of nanoparticles in different industries such as biomedical, energy, electronics, and wastewater treatment, the market for nanomaterials in the United States is expected to develop at the fastest rate in the country. Due to the various features of nanoparticles, such as a large surface area with decreasing particle size, the market is expected to grow throughout the projected period.
Competitive Insight
Some of the major players operating the market include Ahlstrom, BASF SE, Bayer AG, Cabot Corporation, Chasm Technologies Ltd., CNANO Technologies Ltd., Elmarco, Finetex ENE, Glonatech SA, Kuraray, Nanocyl SA, Nanoviricides, Showa Denko, Sumitomo, and Zyvex Technologies.
Nanomaterials Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 7.78 billion |
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Revenue forecast in 2030 |
USD 24.91 billion |
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CAGR |
14.8% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2022 to 2030 |
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Segments covered |
By Product, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Ahlstrom, BASF SE, Bayer AG, Cabot Corporation, Chasm Technologies Ltd., CNANO Technologies Ltd., Elmarco, Finetex ENE, Glonatech SA, Kuraray, Nanocyl SA, Nanoviricides, Showa Denko, Sumitomo, and Zyvex Technologies. |
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