Exploring the Global Nanomaterials Market: Trends, Drivers and Challenges
Nanomaterials possess a minimum of one external dimension measuring 1-100 nm. They can occur naturally or can be created as by-products of combustion reactions. They have varied solubility, reactivity, spectroscopy, and electrical and magnetic properties as compared to their micro and macroscopic counterparts. They are also produced purposefully via engineering to perform a specialized function. They are widely utilized in the healthcare industry for drug delivery and transportation of chemotherapy medications directly to cancerous cells. They are also used in the aerospace sector for morphing aircraft wings.
How big is the global nanomaterials market?
The global nanomaterials market size reached US$ 26.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 73.7 Billion by 2028, exhibiting a growth rate (CAGR) of 17.8% during 2023-2028.
Global Nanomaterials Market Trends:
At present, the increasing demand for nanomaterials in biomedical and imaging applications, as they have antibacterial, antioxidant, and antitumor properties, represents one of the primary factors influencing the market positively. Besides this, the rising utilization of carbon nanotubes in the production of lithium-ion batteries is contributing to the growth of the market.
In addition, the growing adoption of silver nanoparticles as drug-transport carriers, imaging probes, and optoelectrical systems is offering a favorable market outlook. Apart from this, the increasing employment of zinc oxide nanowires in flexible solar cells and the treatment of polluted water is supporting the growth of the market.
Additionally, the rising incorporation of mineral nanoparticles in various cosmetic products, including sunscreen, as they can provide improved ultraviolet (UV) protection, is bolstering the growth of the market.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Nanoparticles
- Nanofibers
- Nanotubes
- Others
Breakup by Structure Type:
- Non-polymer Organic Nanomaterials
- Polymeric Nanomaterials
Breakup by End Use Industry:
- Healthcare
- Electrical and Electronics
- Energy
- Construction
- Rubber
- Personal Care
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ACS Material LLC,
- American Elements,
- Arkema S.A.
- BASF SE
- Cabot Corporation
- Daikin Industries Ltd.
- Jiangsu Cnano Technology Co. Ltd.
- LG Chem Ltd.
- Nanocyl SA
- Nanophase Technologies Corporation
- Showa Denko K. K.
- Strem Chemicals Inc. (Ascensus Specialties LLC)
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