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Nanomaterials Market: Industry Analysis and Forecast 2020 -2026
Nanomaterials Market is anticipated to reach US$ 57,608.28 Mn by 2026 from US$ XX Mn in 2019 at a CAGR of XX % during a forecast period. Global Nanomaterials Market Overview The nanomaterials market is expected to be driven by a high potential for product adoption for aerospace applications to increase the strength and durability of aircraft parts throughout the forecast period. The market is projected to be driven by the increasing use of nanomaterials in the healthcare industry and the increasing use of nanomaterials in water treatment applications. Besides, the growing focus on nanotechnology research and rising government spending on biotechnology and pharmaceutical R&D is projected to boost the growth of the nanomaterial market. To know about the Research Methodology :- Request Free Sample Report Global Nanomaterials Market Dynamics The need for nanomaterials in the electronics industry has risen dramatically as a result of significant improvements in computers and electronics, which have resulted in quicker, smaller, and more portable systems capable of managing and storing ever-increasing quantities of data. Nanoparticle copper suspensions have been created in the electronics industry as a safer, less expensive, and more dependable alternative to lead-based solder and other hazardous chemicals routinely used to fuse devices during the manufacturing process. The electronics industry is growing for a variety of reasons, including increased population and infrastructure activity, improving living standards and middle-class per capita income, and the replacement of traditional lighting. All of these reasons are likely to boost demand for nanomaterials in the electronics industry. To manufacture nanoparticles, synthetic methods such as covalent synthesis and self-assembling procedures & processing give a greater chance for computer simulation and modeling. The product's growth is expected to be accelerated by more financial backing from government agencies. These materials have at least one spatial dimension between 1 and 100 nanometers in size. Over the projected period, the market for nanomaterials is expected to fuel by increasing applications of particles in various sectors such as health care for tumor therapy. The availability of accessible raw materials for the synthesis of nanomaterials, such as metals, polymers, and alloys, along with new synthesis methods to lower total cost, is predicted to boost usage. Volatility in raw material costs, on the other hand, may impact the price of finished goods, reducing manufacturers' profit margins. Nanomaterial toxicity testing has shown to be a challenge to nanotechnology commercialization. Global Nanomaterials Market Segmentation Analysis By Product, Carbon nanotubes, which have the highest reversible capacity, had the largest market share of 26.9% in 2019. They are frequently employed in lithium-ion batteries. Also, they are extensively chosen for supercapacitor electrode manufacturing. They can be used as an electrode catalyst support in PEM fuel cells because of their high surface area and thermal conductivity. The potential of titanium dioxide Nanoparticles to hinder bacterial development and prevent the formation of a subsequent cell structure is predicted to be seeing considerable growth. It is predicted that the segment is expected to reach USD 4.1 billion by 2026. Graphene nanoparticles are predicted to be the fastest-growing at 14.6 % CAGR, due to their growing demand in energy, environmental and biological sciences applications during the projection period. In a wide range of biomedical applications, grapheme nanoparticles are also utilized for graph improved cell differentiation and proliferation, bio-sensing, and ionizing mass-spectrometric applications. By Application, the medical application segment held a 29.1 % market share in 2019 and is anticipated to expand significantly during the forecast period due to its diverse uses, which include imaging, targeted medication administration, Nanorobots for surgery, Nano diagnostics, cell healing, and Nano biosensors. Because of the rising use of nanoparticles in batteries, fuel cells, and solar film coatings, the energy and power segment is likely to see substantial demand for nanomaterials, with a CAGR of 13.4 % during the forecast period. Nanoparticles are widely utilized in research to create effective prototype solar panels, thermoelectric materials, and enzyme nano-bioengineering. Nanomaterials are gaining popularity in the automobile industry as a result of the growing demand for fuel-efficient vehicles and attempts to lower the total carbon footprint. Nanomaterials such as nanopowders and nanocoatings are increasingly being employed as low-cost alternatives to improve the sustainability of automobile paints and coatings. Competitive Landscape Major manufacturers use a variety of techniques, including new product launches, mergers and acquisitions, and foraying into new markets to grow their footprints. As an example, Birla Carbon, a leading global manufacturer and supplier of carbon black, and CHASM Advanced Materials Inc., a leading developer, and manufacturer of advanced proprietary materials hybridized at the nanoscale, announced in May 2020 that they have increased their joint development agreement signed in 2019 into a strategic partnership to commercialize novel nanomaterials to benefit various market segments including high-tech. CHASM Advanced Materials Inc. established a strategic relationship with Henkel Adhesive Technologies in August 2020. (Henkel AG & Co. KGaA). Henkel has certified and will sell one of CHASM's proprietary Carbon Nanotube (CNT) inks under the LOCTITE brand. LOCTITE ECI 5006 E&C is a carbon nanotube (CNT) ink developed for screen printing transparent conductors on a variety of plastic films made with CHASM's unique V2V technology. Global Nanomaterials Market Regional Analysis In 2019, Asia Pacific had the largest market share of 34.5 %. The region is anticipated to develop the quickest due to the growing semiconductor manufacturing industry and increased product penetration. The region is anticipated to grow at a CAGR of 16.2 % during the forecast period, owing to rising demand for nanomaterials from microelectronics and nanoelectronics as the use of sophisticated devices grows. The largest growth in nanomaterial demand is expected to be in China and India, as these countries increase their share of global R&D investment and major multinational firms become more comfortable permitting their most complex goods to be manufactured in these manufacturing powerhouses. Europe is anticipated to reach USD 4.7 billion by 2027, thanks to increased expenditures in technical breakthroughs for efficiently harvesting renewable energy, as well as nanoparticles' potential to enhance the efficiency of organic solar cells. The increased use of nanoparticles for the diagnosis and treatment of various medical problems is projected to boost demand for nanomaterials throughout the forecast period. The objective of the report is to present a comprehensive analysis of the Global Nanomaterials Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Nanomaterials Market dynamics, structure by analyzing the market segments and project the Global Nanomaterials Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Nanomaterials Market make the report investor’s guide. Global Nanomaterials Market Scope: Inquire before buying Global Nanomaterials Market by Region • North America • Asia pacific • Europe • Middle East and Africa • South America Global Nanomaterials Market Key Players • Strem Chemicals, Inc. • American Elements • US Research Nanomaterials, Inc. • Nanocomposix, Inc. • Reade International Corporation • NanoMaterials Technology Pte Ltd. • Frontier Carbon Corporation • Nanoshel LLC • SkySpring Nanomaterials, Inc. • Nanografi Nano Technology • Cytodiagnostics, Inc. • Quantum Materials Corp. • Hyperion Catalysis International Inc. • Nanostructured & Amorphous Materials, Inc. • Nanophase Technologies Corporation