PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485843
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485843
The Nanomaterials Market size was valued at USD 17,988.34 million in 2023, expanding at a CAGR of 13.5% from 2024 to 2032.
Nanomaterials are defined as materials with a size between 1 and 100 nanometers and at least one spatial dimension. Nanomaterials with various modulation dimensionalities can be produced. Individual nanostructures include atomic clusters, quantum dots, nanocrystals, nanowires, and nanotubes. The growing availability of various equipment and synthesis techniques for nanomaterials is propelling the nanomaterials sector. Currently, synthetic techniques like covalent synthesis, self-assembly techniques, and processing can be used to make nanomaterials.
Nanomaterials Market- Market Dynamics
Growing Demand for Lightweight and Strong Material in the Construction Industry
Nanomaterials are employed excessively in the building business, just like in all other fields. They are a means of eliminating the toxicity that spreads after construction in addition to aiding in the building procedures themselves. By utilizing nanotechnology to enhance the qualities of building materials, Nanografi advances the creation of innovative materials. These characteristics make graphene and carbon nanotube nanomaterials much sought after. Within the European Union, nanomaterials are subject to the stringent regulatory framework of the REACH and CLP regulations that guarantee the safe use of all chemicals and combinations. This implies that it is necessary to evaluate the potentially harmful characteristics of substance nanoforms and to guarantee their safe application. Laws about particular industries, such as those about food, biocides, and cosmetics, also contain special rules for nanomaterials.
Nanomaterials Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 13.5% over the forecast period (2024-2032)
Based on product type segmentation, nanoparticles were predicted to show maximum market share in the year 2023
Based on end use industry segmentation, paints & coatings were the leading type in 2023
Based on region, Asia Pacific was the leading revenue generator in 2023
The Global Nanomaterials Market is segmented based on Product Type, End Use Industry, Structure Type, and Region.
The market is divided into seven categories based on end-use industry: Paints & Coatings, Adhesives & Sealants, Health Care & Life Science, Energy, Electronics & Consumer Goods, Personal Care, and Others. The development of contemporary technologies to tailor the manufacture and usage of nanomaterials in the coatings industry to their particular needs is predicted to drive a large growth in the paints and coatings segment based on end-user industries. Paints and varnishes with nanomaterials have better curing, UV absorption, and biocidal qualities. Throughout the projection period, the market share of nanomaterials in the paint and coatings sector is anticipated to grow quickly.
The market is divided into seven categories based on product type: The market is divided into nanoparticles, nanofibers, nanotubes, nanoclays, and nanowires based on the kind of product. Among these, nanoparticles are anticipated to lead the global market throughout the projected period due to the expanding demand from bio-nanotechnology applications, including photothermal therapy, imaging and sensing, therapeutics, and diagnostics.
Nanomaterials Market- Geographical Insights
The Asia Pacific region is home to numerous countries that have advanced industrial capabilities. A highly educated and talented labor force, comprising scientists, engineers, and technicians actively involved in nanomaterial research and development, is another asset of the Asia Pacific region. Additionally, the region's industrial base is diversified, including the electronics, automotive, healthcare, and energy sectors all of which have a high demand for nanomaterials to improve their processes and products. Furthermore, a sizable fraction of the world's population resides in the Asia Pacific region, which increases demand for a range of goods and services that use nanomaterials, including electronics, renewable energy solutions, and medical supplies.
Major players operating in the global nanomaterials market include LG Chem, Daikin Industries Ltd, Arkema Group, DuPont, Evonik Industries AG, Lanxess Corporation, Nanocyl S.A., Merck KGaA, Nanoco Technologies Ltd, and Umicore N.V. The market for nanomaterials will continue to grow as a result of major players in the industry making significant R&D investments to expand their product ranges. To expand their global reach, market players are also taking part in a variety of calculated risks. These risks include joint ventures, product launches, contracts, mergers and acquisitions, higher investments, and cooperation with other institutions. For instance, the National Science Foundation has renewed funding for a UC Riverside laboratory solving big environmental and agricultural challenges with nanomaterials.
In November 2022, The VIT-AP University's School of Advanced Sciences, in partnership with Indiana University-Purdue University Indianapolis (IUPUI), U.S.A., hosted a three-day international conference on Advanced Nanomaterials and Applications. The purpose of this conference is to bring together national and international communities of scholars, scientists, and engineers from academia and industry to discuss exciting advances in the field of nanosciences and technology.
In November 2023, the National Nanotechnology Initiative (NNI) invested a $1.99 billion budget for nanotechnology research. NNI focuses on some topics, such as gadget creation and nanoscience.
GLOBAL NANOMATERIALS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BASF
EMFUTUR Technologies
Evonik Industries
Sigma-Aldrich Co. LLC
Bayer AG
SkySpring Nanomaterials
Altair Nanotechnologies Inc.
NANOCO TECHNOLOGIES LIMITED
LG CHEM
NANOCYL S.A.
Others