Global Nanomaterials Market worth $49.24 billion by 2029, at a CAGR of 18.15% - IndustryARC
Apr 24, 2024
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According to the latest market research report on the Global Nanomaterials Market, published by IndustryARC, due to their remarkable qualities, which include reduced water and gas permeation, dimensional stability, conductivity to electricity, flame retardancy, thermal endurance, durability against chemicals, exterior design, and visual brevity, the market for nanomaterials is projected to expand significantly.
The Global Nanomaterials Market research report is segmented By Type: Carbon-Based Materials (Carbon Nanotube, Fullerenes, Graphene, Others); Metal-Based Materials (Nanogold, Nanosilver, Metal Oxides, Dendrimers, Nanocomposites); By End Use Industry: Paint and coatings, Automotive and aerospace, Healthcare and Life Science, Electronics and semiconductor, Consumer Goods, Energy, Others and By Geography, which provides a comprehensive analysis of global market & industry forecast (2024 - 2029).
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North America Anticipated to Show the Fastest Growth in the Market:
North America region dominated the global nanomaterials market in 2023 Due to the widespread use of nanoscience and nanotechnology as a vital component of manufacturing across a variety of industries, the United States is regarded as the industry leader in the field of nanomaterials. The nation is currently experiencing substantial technological developments in nanoscience and its implementation in a broad range of applications.
The United States National Nanotechnology Initiative (NNI) has been allocated a budget of around $31 billion for 2021, with the National Institute of Standards and Technology (NIST) and other organizations receiving the greatest share of funds for risk- and standard-related nano-research. The rising government’s funds and support are also anticipated to drive the market growth.
Global Nanomaterials Market 2024-2029: Scope of the Report
Report Metric | Details |
Base Year Considered | 2023 |
Forecast Period | 2024–2029 |
CAGR | 18.15% |
Market Size in 2030 | $49.24 billion |
Segments Covered | Type, End-Use Industryand Region |
Geographies Covered | North America (the US, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Russia, Spain, and the Rest of Europe), Asia-Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and the Rest of South America), and the Rest of the World (the Middle East and Africa). |
Key Market Players |
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Global Nanomaterials Market Report – Key Takeaways:
Carbon-Based Materialsis Leading the Market
The Carbon-Based Materials segment dominated the global nanomaterials market in 2023. Carbon-based nanomaterials include graphene and its derivatives, fullerenes, carbon nanotubes, graphene oxide, nanodiamonds, and carbon-based quantum dots. These materials have generated a lot of attention in a variety of fields, including biological applications, because of their exceptional mechanical, electrical, thermal, optical, and chemical capabilities as well as their distinctive structural dimensions. Recent years have seen a notable rise in the utilization of stimuli-responsive carbon-based nanomaterials due to their intelligent behavior.
Increasing Adoption ofNanomaterial in Drug Delivery and Medical Devices Propels the Market Growth
The increasing demand for efficient & cost-effective healthcare treatment & diagnostics is accelerating the adoption of nanomaterials in drug delivery and medical devices. The increasing use of large-sized materials in drug delivery poses significant challenges which include in-vivo instability, poor absorption in the body, issues with target-specific delivery and tonic effectiveness, inadequate solubility, low absorption, and likely harmful effects of medications. Therefore, nanotechnology plays a significant role in advanced medicine and drug formulations.
Financial Costs and environmental Risks Associated with Nanomaterials Are Too Large for Many Established Organizations to Bear
The high cost of nanomaterials coupled with environmental risk has become a prime concern for every organization which acts as a major challenge restraining the market growth of the Nanotechnology market. Since the research & and development budget is the most important factor considered while organizations investing in developing advanced tools & and technologies, the high cost of nanomaterials, slows down its market growth.For example, the price of one milligram and one gram of gold nanoparticles is approximately $80 and $80,000, respectively. The high cost of nanomaterials negatively impacts the nanotechnology market as it discourages end-users from usingthem for various applications.
Rising Demand for Nanotechnology-based Devices Triggers Market Growth
Increasing demand for nanotechnology-based devices is set to drive market growth during the forecast period. Nanotechnology has greatly contributed to major advances in the computing and electronics devices sector by helping to provide faster, smaller, and more portable systems that can manage and store larger and larger amounts of information. The increasing use of nanotechnology in Transistors that enable modern computing is a factor that boosts the market growth of nanodevices.
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Key Opportunity Analysis:
Investment Opportunities in The Food And Pharmaceutical Industry For Nonpackaging
Packaging plays a key role in the modern food and pharmaceutical industry. Nanotechnology applications in packaging offer innovative opportunities to increase the quality of packaging for pharmaceuticals and foodstuffs.Nanotechnology offers packages with improved thermal and mechanical properties and safety. In addition, nanosensors embedded in nano-packaging systems are used to alert consumers when a product has expired.The incorporation of nanoparticles such as titanium dioxide, magnesium oxide, zinc oxide, silver nanoparticles, carbon nanotubes, fullerene derivatives, and zerovalent iron into packaging has shown great impact as antimicrobial agents. It, therefore, offers a longer shelf life and improved quality.
The Increasing Use of Graphene In Everything Offers Endless Graphene Investment Opportunities
One of the most well-known nanomaterials is graphene, which is formed of carbon atoms organized in a hexagonal or honeycomb grid.Graphene has surged in popularity in recent years, with numerous products now available on the global market. This includes everything from apparel to road surfaces, automotive parts, aerospace coatings, bike frames, and everything in between.Graphene has found a lot of commercial usage in many low-tech devices, but there is expected to be a move in the next few years toward its use in higher-tech products, such as batteries and electronic components, display screens, and many other sorts of sensors.
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The Report also Covers the Following Areas:
- Global NanomaterialsMarket Size and Forecast
- Global Nanomaterials Market Trends
- Global Nanomaterials Market Analysis by Type
Global Nanomaterials Market 2023-2029: Key Highlights
- CAGR of the market during the forecast period 2023-2030
- Value Chain analysis of key stakeholders
- Detailed analysis of market drivers and opportunities during the forecast period
- Global Nanomaterials market size estimation and forecast
- Analysis and predictions on end users’ behavior and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the Global Nanomaterials Market
Covid and Ukrainian Crisis Impact:
- The COVID-19 pandemic has caused significant disruptions in global supply chains which has impacted the availability and cost of raw materials as well as the transportation of finished products. This has resulted in increased lead times, reduced production, and higher costs. Additionally, the pandemic has caused delays in investment in new capacity and infrastructure which could impact the long-term supply and demand dynamics in the market.
- The Ukraine and Russia conflict led to an increase in prices and a reduction in production which further led to a shortage of global nanomaterials. Many companies have shut business in Russia; temporarily shutting down their plants in Ukraine. Additionally, the crisis in Ukraine has also led to a reduction in investments in the global nanomaterials market as companies are hesitant to invest in a region that is facing political and economic instability. This could impact the long-term supply and demand dynamics of the market.
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List of Top Companies in theGlobal Nanomaterials Market:
The Global Nanomaterials Market is highly concentrated as the majority share is held by the leading global nanomaterials providers. The key companies profiled are listed below:
- Nanoco Technologies
- Showa Denko K.K.
- Merck KGaA
- Bruker Corporation
- Arkema Group
- Thermo Fisher Scientific
- A123 Systems
Related Reports:
Nanomaterials Market- The Nanomaterials Market is projected to grow at a CAGR of 12.7% by 2029. It is anticipated to be a substantial development opportunity to augment the size of the Nanomaterials market due to the noteworthy surge in demand for nanoparticles across various sectors.
Non-Polymeric Organic Nanomaterials Market- The Non-Polymeric Organic Nanomaterials Marketis projected to grow at an estimated CAGR of 17.2% by 2029.The market for non-polymeric organic nanomaterials is projected to expand significantly over the forecast period due to its outstanding features, which include flame retardancy, chemical resistance, and others.
Carbon Nanomaterials Market- The Carbon Nanomaterials Marketis projected to grow at a CAGR of 17.01% by 2029. The market for carbon nanomaterials is expanding due to the expanding automobile industry. Because of its superior thermal and lubricating properties, it is used as a lubricant additive.
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Mr. Venkat Reddy IndustryARC Email: sales@industryarc.com USA: (+1) 518 282 4727Tags: English, Nanomaterials Market Growth,Nanomaterials top companies,Nanomaterials Market Report,Nanomaterials Market Research,Nanomaterials Key companies,Nanomaterials Market,Nanomaterials Market size,Nanomaterials Market trends,Nanomaterials Market forecast,Nanomaterials Market Share