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 nanochemicalsmarket 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:
Breakup by Application:
Semiconductors and Electronics
Food and Agriculture
Breakup by Region:
Middle East and Africa
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.
Base Year of the Analysis
Type, Application, 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
Azelis, BASF SE, Evonik Industries AG, Harima Chemicals Group Inc., Merck KGaA, Thermo Fischer Scientific Inc. and Toyo Ink Mfg. Co. Ltd.
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Key Questions Answered in This Report
The global nanochemicals market was valued at US$ 6.1 Billion in 2022.
We expect the global nanochemicals market to exhibit a CAGR of 5.8% during 2023-2028.
The rising demand for nanochemicals to produce carbon nanotubes, graphene, and fullerenes, owing to their enhanced mechanical and electrical properties, is primarily driving the global nanochemicals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for nanochemicals.
Based on the type, the global nanochemicals market has been categorized into metallic nanochemicals, ceramic nanochemicals, polymer nanochemicals, and others. Among these, ceramic nanochemicals currently account for the majority of the total market share.
Based on the application, the global nanochemicals market can be segregated into semiconductors and electronics, pharmaceuticals, food and agriculture, energy, textiles, and others. Currently, the pharmaceuticals industry exhibits clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global nanochemicals market include Azelis, BASF SE, Evonik Industries AG, Harima Chemicals Group Inc., Merck KGaA, Thermo Fischer Scientific Inc., and Toyo Ink Mfg. Co. Ltd.
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