Nanomaterials Market

Nanomaterials Market Overview

Global Nanomaterials demand is anticipated to be valued at US$ 11 Billion in 2022, forecast to grow at a CAGR of 15% to be valued at US$ 45 Billion from 2022 to 2032. The increasing use of nanoparticles in the healthcare industry and the increasing use of nanomaterials in water treatment applications are likely to increase global demand for nanomaterials.

Nanomaterials are nanometer-scale structures with at least one dimension of fewer than 100 nanometers. Nanomaterials are classed as zero-dimensional, one-dimensional, two-dimensional, or three-dimensional. Nanoparticles are zero-dimensional nanomaterials that can be amorphous or crystalline and come in a variety of shapes and sizes.

Nanotubes, nanorods, and nanowires are examples of one-dimensional nanomaterials. Nanofilms, nanolayers, and nano-coatings are examples of two-dimensional nanomaterials with plate-like structures. Two-dimensional nanoparticles may be manufactured from a variety of chemical compounds and incorporated into a matrix material.

Three-dimensional nanomaterials are bulk nanomaterials with three arbitrarily large dimensions exceeding 100 nm. They contain nanoparticle dispersions, nanowire bundles, and nanotubes. Nanomaterials have a variety of qualities such as high strength, hardness, elasticity, electric conductivity, antibacterial and self-cleaning, scratch resistance, and chemical resistance, which makes them increasingly useful in a wide range of applications. Electronic products, medical devices, battery electrodes, surface treatments of fabrics, light-weighting of cars, trucks, aeroplanes, boats, and spacecraft; high-power rechargeable battery systems, nanostructured ceramic coatings, nanoparticles as catalysts, personal care products, and construction materials are some of the commercial applications of nanoscale materials.

Which are Some Prominent Drivers Spearheading Nanomaterials Market Growth?

During the projected period, the increased demand for nanomaterials in the electronics sector is likely to be the primary driver driving worldwide market growth. Because of their high aspect ratio, notable mobility, higher surface-to-volume ratio, and capacity to integrate on non-conventional substrates, nanomaterials such as nanowires, nanotubes, graphene, and cellulosic nanomaterials are utilized to produce various forms of flexible electronics. The flexible nanomaterials market is likely to rise significantly throughout the review period, resulting in increased demand for nanomaterials in the near future. Furthermore, increased R&D to produce new nanomaterials is likely to drive worldwide market growth.

What are the Challenges Faced by the Nanomaterials Industry?

Factors such as the predicted increase in the number of people exposed to these nanoparticles, occupational exposure, and the expected evolution of potentially detrimental consequences in the coming years are likely to prompt the establishment of stricter laws. As a result, the predicted incremental stringency in nanomaterials and nanotechnology regulations is expected to provide a hurdle to industrial expansion in the future.

Why is Asia-Pacific emerging as an Opportunistic Nanomaterials Market?

Asia Pacific is expected to dominate the nanomaterials market, accounting for 35.5% of total revenue in 2022. The increasing usage of nanomaterials in electronics, medical equipment, aerospace and military, textiles, and automotive sectors can be contributed to the rise. This is mostly due to ongoing research and development, as well as increased investment in China and Japan for the development of nanomaterials. Because of the growing demand for nanotechnology, increased investment by organizations on research and development in the region, and government backing, among other factors. For example, BASF, a renowned nanotechnology firm, spent over Euros 2.03 billion in research and development efforts in 2019.

The growing need for specialty materials in the area, as well as quickly developing industries such as energy, healthcare, and construction, among others, in countries such as China and India, are propelling the expansion of the nanomaterials market. Japan leads the Asia Pacific nanomaterials market, followed by China, India, and South Korea. This can be linked to Japan's status as a technical powerhouse with the largest per capita use of electronic devices.

Nikhil Kaitwade

Principal Consultant

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How is Europe Contributing to Growth of the Nanomaterials Market?

According to Future Market Insights, the market in Europe is predicted to reach US$ 4.5 Billion by 2032, thanks to national government backing and investment in the region's various local markets. The European Commission developed the 2D-Experimental Pilot Line (2D-EPL), a new USD 23.0 million joint project, to investigate the manufacture of breakthrough electrical devices, photonic devices, and sensors that incorporate graphene and layered nanomaterials in the region.

Market Competition

The market for nanomaterials is severely fragmented. Companies in the industry concentrate on various types of nanomaterials as well as specialized applications. The big companies are continually concentrating on research and development for product innovation and capacity growth, as well as relationships with local or regional distributors and manufacturers. Among the market's top companies are BASF, EMFUTUR Technologies, Evonik Industries, Sigma-Aldrich Co. LLC, Bayer AG, SkySpring Nanomaterials, Altair Nanotechnologies Inc. and others.

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Scope of Report

Key Segments Profiled in the Nanomaterials Industry Survey

Product Type:

• Carbon-Based Nanomaterials
• Metal Based Nanomaterials
• Dendrimers-based Nanomaterials
• Nanomaterials from Composite Segments

Application:

• Nanomaterials for Transportation
• Nanomaterials for Electrical & Electronics
• Nanomaterials for Healthcare
• Nanomaterials for Construction
• Nanomaterials for Packaging
• Nanomaterials for Consumer Goods
• Nanomaterials for Energy