According to the latest report by IMARC Group, titled "Nanomaterials Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global nanomaterials market reached a value of US$ 26.9 Billion in 2022. Nanomaterials are materials with microscopic particles wherein a single unit is between 1 and 100 nm in size. They possess unique optical, electronic, thermo-physical, or mechanical properties due to nanoparticle volume, surface, and quantum effects. These materials are formed naturally through weathering processes of metal- or anion-containing rocks and at acid mine drainage sites. They are created as the by-products of combustion reactions or manufactured purposefully through engineering to perform a specialized operation. These materials have distinct physical and chemical properties from their bulk-form counterparts. These are used in various manufacturing processes, products, and healthcare, including paints, filters, insulation, and lubricant additives.
Global Nanomaterials Market Trends:
The global market is majorly driven by the increasing demand for the product in electronic applications due to the elevated surface area of nanomaterials at the time of application. In line with this, the rising utilization of nanomaterials in the medical industry for various in-vitro and in vivo applications is significantly contributing to the market. Furthermore, heavy investments by multiple research laboratories and biomedical industries for improving product penetration in drug delivery, gene therapy, and malignant tumor treatment are expected to influence the market positively. Apart from this, the growing demand for titanium nanoparticles across aerospace, chemicals, medical, petrochemicals, and architectural industries due to their high strength-to-weight ratio, excellent corrosion resistance, and biological compatibility is catalyzing the market expansion. Besides, the rapid adoption of nanomaterials in aircraft manufacturing due to the high demand for lighter and more efficient aircraft components is propelling the market growth. Additionally, significant growth in the semiconductor industry and the increasing development of boron nitride nanotubes (BNNT) are providing a boost to the overall market. On account of the factors above,mthe market is anticipated to reach a value of US$ 73.7 Billion by 2028, exhibiting a CAGR of 17.8% during 2023-2028.
- On the basis of the product type, the market has been segmented into nanoparticles, nanofibers, nanotubes, and others.
- Based on the structure type, the market has been categorized into non-polymer organic nanomaterials and polymeric nanomaterials.
- On the basis of the end use industry, the market has been classified into healthcare, electrical and electronics, energy, construction, rubber, personal care, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include 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. and Strem Chemicals Inc. (Ascensus Specialties LLC).
|Base Year of the Analysis
||Product Type, Structure Type, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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. and Strem Chemicals Inc. (Ascensus Specialties LLC).
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