The global nanomaterials market demand is anticipated to create opulent growth opportunities over the forecast period by exhibiting a CAGR of 15% from 2022 to 2032. The global market was valued at US$ 11 Billion in 2022 and is expected to surpass a valuation of US$ 45 Billion by 2032. The growth of the market is attributed to the increasing usage of nanoparticles within the healthcare industry along with the rising use of nanomaterials in water treatment applications are likely to increase global demand for nanomaterials. Nanomaterials are known as nanometer-scale structures with at least one dimension of fewer than 100 nanometers.
Nanomaterials are classified as zero-dimensional, two- dimensional, or three-dimensional. Nanoparticles are zero-dimensional nanomaterials that can be amorphous or crystalline and come in a variety of shapes and sizes. Nanotubes, nanorods, and nanowires are some of the prominent examples of one-dimensional nanomaterials. Nanofilms, nanolayers, and nano-coatings are examples of two-dimensional nanomaterials with plate-like structures. Two-dimensional nanoparticles may be manufactured from a variety of chemical compounds and incorporated into a matrix material.
Three-dimensional nanomaterials are known as bulk nanomaterials comprising three arbitrarily large dimensions exceeding 100nm. They contain nanoparticle dispersions, nanowire bundles, and nanotubes. Nanomaterials imbibe a variety of qualities such as high strength, hardness, elasticity, electric conductivity, antibacterial and self-cleaning, scratch resistance, and chemical resistance, which makes them increasingly useful in a wide range of applications.
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Key Takeaways
- Throughout the projection period, the rising demand for nanomaterials within the electronics sector is anticipated to be the major driver in worldwide market growth. Key manufacturers within the flexible nanomaterials market are likely to focus on research and development in order to drive worldwide market growth.
- Attributing to their high aspect ratio, notable mobility, higher surface-to-volume ratio, and capacity to integrate on non-conventional substrates, nanomaterials such as nanowires, nanotubes, graphene, and cellulosic nanomaterials are utilized to produce various forms of flexible electronics.
- Some of the commercial applications of nanoscale materials comprise electronic products, medical devices, battery electrodes, surface treatments of fabrics, light-weighting of cars, trucks, airplanes, boats, and spacecraft, high-power rechargeable battery systems, nanostructured ceramic coatings, nanoparticles as catalysts, personal care products, and construction materials.
Competitive Landscape
The global nanomaterials market is known to be severely fragmented. Prominent companies in the industry concentrate on various types of nanomaterials as well as specialized applications. Furthermore, big companies in the sector are concentrating on research and development for product innovation and capacity growth, as well as relationships with local or regional distributors and manufacturers.
Among the market’s top companies are BASF, EMFUTUR Technologies, Evonik Industries, Sigma-Aldrich Co. LLC, Bayer AG, SkySpring Nanomaterials, Altair Nanotechnologies Inc. and others.
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More Insights into the Nanomaterials Market
Asia Pacific region is predicted to dominate the global nanomaterials market as it accounted for a total revenue of 35.5% in 2022. The increasing utilization of nanomaterials in electronics, medical equipment, aerospace and military, textiles, and automotive sectors can be contributed to the rise.
The growth of this region is attributed to the ongoing research and development as well as surging investment in China and Japan for the propelling development of nanomaterials. Because of the significant rise in the development of nanotechnology, increased investment by organizations in research and development in the region, and government backing, among other factors.
The rising need for specialty materials in various areas as well as quickly developing industries such as energy, healthcare, and construction, among others, in countries such as China and India, are propelling the expansion of the nanomaterials market.
Japan leads the Asia Pacific nanomaterials market, followed by China, India, and South Korea. This can be linked to Japan’s status as a technical powerhouse with the largest per capita use of electronic devices.
According to the estimations by Future Market Insights, the European market is predicted to surpass a valuation of US$ 4.5 Billion by 2032. The growth of the market is attributed to the national government’s backing and investment in the region’s various local markets.
The European Commission developed the 2D-Experimental Pilot Line (2D-EPL), a new USD 23.0 million joint project, to investigate the manufacture of breakthrough electrical devices, photonic devices, and sensors that incorporate graphene and layered nanomaterials in the region.
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