Nanochemicals Market

Market Overview:

The global nanochemicals market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.

Nanochemicals refer to the chemical compounds that are specifically formulated using nanotechnology on conventional chemical building blocks, such as butanes, ethane, and propane. These nanoscale chemicals modify the building blocks to make them more efficient. They have unique properties, such as self-catalysis and anticorrosion, which make them more advantageous than their conventional counterparts. As a result of their remarkable mechanical and electrical properties, nanochemicals can be used to produce carbon nanomaterials, including carbon nanotubes (CNT), graphene and fullerenes. In addition, these chemicals may enable chemical reactions to occur in much shorter times and have reduced associated risks to health and the environment. Among the most commonly used nanochemicals is carbon nanotubes, which can provide stronger materials for various applications.

Nanochemicals Market Trends:

The market is majorly driven by the augmenting demand for chemical products with multiple phases for enhanced chemical reactions and maximum product yield. This can be attributed to the growing adoption of engineered chemicals in various end-use industries, such as chemicals, cosmetics, and food and beverages. In addition to this, the rising adoption of nanotechnology in nanochemical catalyst designing applications is providing an impetus to the market. Continual technological advancements in the formulation of safer agrochemicals are also impacting the market positively. The rising environmental concerns are resulting in a higher uptake of nanochemicals for a wide range of industrial applications. The market is further propelled by the rapid product utilization in the manufacturing of multifunctional coatings with increased durability and self-cleaning properties. Some of the other factors contributing to the market growth include rapid industrialization, inflating disposable income levels, considerable growth in the cosmetics and personal care industry, and extensive research and development (R&D) activities conducted by key players.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global nanochemicals market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.

Breakup by Type:

• Metallic Nanochemicals
• Ceramic Nanochemicals
• Polymer Nanochemicals
• Others
   

Breakup by Application:

• Semiconductors and Electronics
• Pharmaceuticals
• Food and Agriculture
• Energy
• Textiles
• 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
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Azelis, BASF SE, Evonik Industries AG, Harima Chemicals Group Inc., Merck KGaA, Thermo Fischer Scientific Inc. and Toyo Ink Mfg. Co. Ltd.

Report Coverage: