Nanomaterials Market

Nanomaterials Market Size and Share:

The global nanomaterials market size was valued at USD 36.73 Billion in 2024. The market is expected to reach USD 136.47 Billion by 2033, exhibiting a CAGR of 14.91% during 2025-2033. North America currently dominates the market, holding a significant market share of over 32.7% in 2024. The market is expanding due to rising demand across industries like electronics, healthcare and energy. Increasing investment in R&D and sustainability-focused solutions further fuels the market growth.

The nanomaterials market is driven by advancements in nanotechnology and increasing demand across industries like electronics, healthcare and energy. Their exceptional properties such as high strength, lightweight and enhanced electrical and thermal conductivity make them ideal for applications in batteries, semiconductors, and drug delivery systems. Rising focus on sustainable solutions boosts their use in renewable energy technologies and water purification systems. For instance, in April 2024, SiAT announced its partnership with Zeon Corporation from Japan to introduce a novel single-walled carbon nanotube (SWCNT) conductive paste that boosts lithium-ion battery efficiency. This advanced nanomaterial requires much smaller amounts than conventional carbon black resulting in better energy density and faster charging times. Government funding for nanotechnology research and growing adoption in automotive and aerospace sectors also increase the nanomaterials market growth rate.

The United States nanomaterials market is driven by robust investments in research and development fostering advancements in nanotechnology applications across industries. High demand in healthcare for drug delivery systems and diagnostics coupled with widespread use in electronics for semiconductors and sensors boosts market growth. For instance, in April 2024, Biomedical engineers at the University of Connecticut collaborated with Eascra Biotech and Axiom Space to produce DNA-inspired Janus base nanomaterials (JBNs) aboard the ISS. These nanomaterials aim to treat arthritis, cancer, and neurological disorders with the potential for improved drug delivery and in-space manufacturing contributing to future biomedical advancements. The automotive and aerospace sectors further drive adoption due to the need for lightweight durable materials. Additionally, the growing focus on renewable energy and sustainability supports nanomaterials' use in energy storage, solar cells and environmental remediation solutions.

Nanomaterials Market Trends:

Technological Advancements and Innovation

Growing needs for the development of newer and better nanomaterials with improved strength, conductivity, and reactivity, among others, are causing a surge in demand for nanomaterials within different industries. These have better performance and applications have significantly increased in electronics, energy storage, healthcare, and automotive to manufacture flexible electronics, drug delivery systems, and energy-saving equipment among others. One of them is in aerospace, where carbon nanotubes (CNTs) can be used to increase the strength-to-weight ratio of materials. In 2022, NASA reported that CNT-based composites could improve the fuel efficiency of aircraft as it may reduce the weight of components by 30-40% without losing their strength. This is a groundbreaking innovation that will change the face of aerospace design for energy-efficient air travel. These nanomaterials, which include graphene, are being researched within the automobile industry for enhancements in battery performance and improving the drug delivery systems in the healthcare sectors with minimal side effects.

Growing Demand from Healthcare and Biotechnology

Nanomaterials are critical in health and biotechnology. They find applications in drug delivery, diagnostic imaging, and biosensors. The interaction at the molecular level between these nanomaterials and biological systems has resulted in significant targeted treatments and highly accurate diagnostic tools, resulting in enormous growth in the healthcare industry. As stated by HBM, in 2024, the sales of the global healthcare industry are going to exceed USD 4 Trillion per year. Pharmaceuticals and biotechnology represent the largest and most profitable sub-markets, totaling nearly USD 850 billion, while medical technology and diagnostics account for over USD 400 billion. Nanomaterials further advancement of drug delivery systems, diagnostic imaging, and biosensors are incorporated into the high-value sectors that create demand and innovation which help to grow the sector as a whole.

Sustainability and Environmental Benefits

Nanomaterials are becoming highly adopted in energy storage, environmental remediation, and water purification because of their efficiency and environmental benefits. The more efficient they are at upgrading energy storage systems, making clean water, and addressing pollution, the more demand is generated for sustainable technologies. Governments back these innovations through funding and initiatives. In 2021, the U.S. Department of Energy invested USD 100 Million into the advanced energy storage projects using nanomaterials. The European Commission Horizon 2020, beginning from 2020, provided funding for environmental remediation projects using nanomaterials. National Clean Energy Fund in India has provided support to water purification technologies since 2020 that utilize nanomaterials. All such initiatives of the government bring into light the importance of nanomaterials as well in bringing sustainability to our society and developing green technology further.

Nanomaterials Industry Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global nanomaterials market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on product type, structure type, and end use industry.

Analysis by Product Type:

• Nanoparticles
• Nanofibers
• Nanotubes
• Others

Due to their wide-ranging applications in industries such as healthcare, electronics, and energy, nanoparticles dominate the nanomaterials market. These particles typically sized between 1 to 100 nanometers possess unique properties like high surface area, enhanced reactivity and tunable physical and chemical characteristics making them ideal for diverse uses. In healthcare nanoparticles are revolutionizing drug delivery, diagnostics and imaging technologies. The electronics sector benefits from their role in semiconductors, sensors and conductive inks while energy applications leverage them for solar cells and batteries. Continuous advancements in nanotechnology and rising demand for innovative solutions further cement nanoparticles' leadership in the nanomaterials market.

Analysis by Structure Type:

• Non-polymer Organic Nanomaterials
• Polymeric Nanomaterials

Non-polymer organic nanomaterials encompass small organic molecules and compounds at the nanoscale that exhibit unique physical and chemical properties. These materials are widely utilized in applications such as drug delivery, medical imaging and energy storage due to their tunable functionality and high surface area. Examples include carbon-based materials like fullerenes and graphene which excel in thermal conductivity and electrical properties. Their versatility enables their use in electronics, catalysis and biosensing technologies.

Polymeric nanomaterials are nanoscale structures composed of synthetic or natural polymers known for their biocompatibility, flexibility and functionality. These materials are extensively used in healthcare for drug delivery systems where they enable controlled and targeted release of therapeutic agents. Their applications extend to food packaging, coatings and water purification owing to their antimicrobial and barrier properties. Polymeric nanomaterials, including nanogels, dendrimers and micelles offer a platform for innovation in nanomedicine and environmental sustainability. The growing emphasis on ecofriendly materials and advancements in polymer science are propelling the demand for polymeric nanomaterials across industries.

Analysis by End Use Industry:

• Healthcare
• Electrical and Electronics
• Energy
• Construction
• Rubber
• Personal Care
• Others

Healthcare leads the market with around 33.2% of nanomaterials market share in 2024. Healthcare dominates the nanomaterials market due to its transformative applications in diagnostics, drug delivery and medical imaging. Nanomaterials' unique properties such as high surface area, biocompatibility and enhanced reactivity enable precision medicine and targeted therapies. They are widely used in creating advanced drug carriers improving the efficacy of chemotherapy and enabling non-invasive imaging techniques. Innovations like nanostructured biosensors are revolutionizing diagnostics offering real-time and accurate results. As healthcare systems globally focus on advanced treatment solutions, the rising prevalence of chronic diseases and increased investments in nanomedicine research are driving demand. Nanomaterials play a crucial role in shaping modern medical technologies.

Regional Analysis:

• 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

In 2024, North America accounted for the largest market share of over 32.7%. North America holds the largest share of the nanomaterials market due to robust investments in nanotechnology research and development supported by strong government funding and initiatives. The region's well-established healthcare, electronics and automotive industries drive significant demand for nanomaterials in applications like drug delivery, medical devices, semiconductors and lightweight materials. Advanced manufacturing capabilities coupled with a high concentration of leading market players foster innovation and commercialization. Furthermore, the expanding adoption of renewable energy technologies, including solar panels and energy storage systems, contributes to the continued growth of the market. North America's emphasis on sustainability and cutting-edge technology solidifies its leading position in the nanomaterials market.

Key Regional Takeaways:

United States Nanomaterials Market Analysis

In 2024, United States accounted for a share of 87.80% of the North America market. The U.S. nanomaterial market growth is primarily driven by investments through the National Nanotechnology Initiative (NNI) a comprehensive R&D initiative launched by the U.S. government. NNI has involved over 20,000 researchers in the development and application of nanomaterials and has triggered enormous progress in the field. Over the last two decades, NNI through different government agencies and departments has invested over USD 38 Billion in nanotechnology research. Such an investment has been crucial to the realization of nanoscience potential and positioning the United States at the forefront in nanomaterial innovation worldwide.

The NNI allows for cooperation between the government, industry and academia thus promoting the commercialization of nanomaterial-based technologies in all sectors of healthcare, electronics, energy and manufacturing. Therefore, the constant inflow of funding and research resources boosts the development and application of nanomaterials thus driving the growth of the U.S. nanomaterial market. This shows that the U.S. government plays a vital role in developing nanotechnology and keeping its edge in the global market.

Europe Nanomaterials Market Analysis

The Europe nanomaterials market is expanding rapidly driven by advancements in the cosmetics, personal care and healthcare sectors. Countries like Germany, France and the UK nanomaterials market are leaders in incorporating nanotechnology into high-performance formulations for skincare, haircare and cosmetics. Nanoparticles and nanoemulsions are widely used for enhanced delivery and stability of active ingredients such as vitamins and antioxidants in premium products. The region’s strong focus on sustainability and innovation supports the adoption of nanomaterials in renewable energy technologies and environmental applications. Additionally, nanomaterials market in Germany plays a crucial role, with significant investments in R&D and a well-established industrial base in electronics and automotive. The European Union’s funding initiatives including Horizon Europe further accelerate nanotechnology advancements strengthening Europe’s position as a key market for nanomaterials globally.

Asia Pacific Nanomaterials Market Analysis

The Asia-Pacific nanomaterials market will grow at a high pace with growth in healthcare sectors across key countries. The China nanomaterials market (Asia Pacific) is benefiting from the Chinese government policies supporting and encouraging domestic medical device innovation which puts the country in the position of the world's second-largest healthcare market. China will be expected to have a 25% revenue share of the global medical device industry by 2030, as per an industry report. The Indian healthcare market is projected to reach USD 372 Billion in the future due to increasing health awareness, availability of insurance and the growing population. The nanomaterials market in India is also expanding, driven by the rise of aging population, demanding advanced medical devices and the income levels. This includes an aging population in Japan projected to hit 40% by 2050, an increase in chronic diseases and universal health insurance, all of which contribute to the increasing demand for innovative healthcare solutions. All these factors drive the increasing need for nanomaterials in medical devices and healthcare applications in the Asia-Pacific region.

Latin America Nanomaterials Market Analysis

Nanomaterials and nanotechnology in Latin America, and particularly in Brazil, is now gaining more recognition due to a growing focus in research related to nanotechnology. As a matter of fact, Brazil is indeed committed to moving forward in advancing nanotechnology, and thus, established networks like RENAMI, or Rede de Nanotecnologia Molecular e de Interfaces, a team of 17 institutions combining efforts for the development of nanostructured materials, interfaces, and devices for molecular nanotechnology. This strong research base in Brazil is promoting the healthcare, energy, and electronics industries for the use of nanomaterials. In addition to this, the growing trend of innovation and technological advances is also positively influencing the nanomaterials market in Brazil. As the country continues to grow its research and development base as one of the leading nations in nanotechnology, there would be increasing demand for high-end materials such as nanomaterials, and this shall increase the Latin American nanomaterial market.

Middle East and Africa Nanomaterials Market Analysis

Under Vision 2030, the Saudi Arabian government plans to invest more than USD 65 Billion in improving the nation's healthcare infrastructure, consolidating and privatizing health services and insurance, and creating 21 "health clusters" nationwide. This program, that aims to increase private sector involvement from 40% of total healthcare spending to 65% by 2030, offers tremendous business potential for U.S. businesses in Saudi Arabia's growing health care sector. The privatization of 290 hospitals and 2,300 primary health centers would trigger demand for advanced technologies in the medical field that encompasses nanomaterials-based medical devices, diagnostic techniques, and treatment. Similar to this, the United Arab Emirates is allocating billions of dollars every year on infrastructure development. Interestingly, the UAE constitutes 29% of the construction market share of the GCC countries and ranks second after Saudi Arabia. These investments are going to drive demand for nanomaterials in construction, particularly in areas such as high-performance coatings, concrete, and insulation. In conjunction with the increasing healthcare and construction sectors in the Middle East, this represents a key growth driver for the nanomaterials market in the region and facilitates advancements across a multitude of industries.

Top Nanomaterials Companies:

The nanomaterials market is highly competitive with major players focusing on innovation to develop advanced products for diverse applications such as healthcare, electronics, automotive and energy. Companies are leveraging strategic partnerships, mergers and acquisitions to expand their market presence and enhance R&D capabilities. The growing demand for sustainable and ecofriendly solutions has prompted firms to invest in biodegradable and green nanomaterials. Regional players are capitalizing on localized production and cost advantages to compete in emerging markets. Additionally, advancements in manufacturing techniques such as atomic layer deposition and nanoparticle synthesis are driving cost efficiency and product performance. For instance, in January 2024, Nanocyl a brand under Birla Carbon announced its plans to showcase its advanced Multi-Wall Carbon Nanotube solutions at NanoTech 2024 in Tokyo. The company will focus on energy storage and sustainability highlighting innovative products designed to meet industry demands and drive advancements in nanotechnology. The increasing adoption of nanomaterials in cutting-edge technologies including quantum computing and renewable energy intensifies competition among industry leaders.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market 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.
• Strem Chemicals Inc. (Ascensus Specialties LLC).

Latest News and Developments:

• February 2024: The Whiting School of Engineering at Johns Hopkins University and the Applied Physics Laboratory announced the development of a novel biocompatible nanocomposite material to treat Retinitis pigmentosa by targeting the brain's visual cortex.
• December 2023: The California NanoSystems Institute at UCLA developed nanoparticles of six medium-entropy alloy nanoparticles, such as nickel, palladium, and platinum. This novel material is to be used in medium- and high-entropy alloys which are essential in most industries that include construction, transportation, appliances, tools, and electronics.
• September 2023: One of the world's largest manufacturers of battery materials, BASF, is significantly decreasing the CO2 footprint of its lithium-ion batteries for the North American market by cooperating with Nanotech Energy. Batteries made from recycled metals are now supplied to BASF by Nanotech Energy, thus ensuring a closed-loop supply chain that will be sustainable in the region.
• April 2023: The Liquid Phase Exfoliation process, developed by Advanced Material Development and used in the production of 2D nanomaterials, has been granted a U.S. patent. This technology is primarily designed for manufacturing graphene-based materials, such as few-layer graphene and graphene nanoplatelets.

Nanomaterials Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the nanomaterials market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global nanomaterials market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyse the level of competition within the nanomaterials industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.