Nanomaterials Market Analysis
The global nanomaterials market was valued at USD 16.5 billion in 2018 and is projected to register a robust CAGR of 20% during the forecast period of 2022–2030
Nanomaterials are nanosized materials; their thickness range is less than 100 nm. The thickness range of these materials also known as the quantum regime is the key factor in defining the properties of the nanomaterials. They exhibit excellent properties including high strength, hardness, elasticity, electric conductivity, antimicrobial and self-cleaning properties, scratch-resistance, and chemical resistance, making them applicable in a wide range of applications. The growing demand for nanomaterials in the electronics and healthcare industries and increasing RD and investments related to new materials are factors likely to propel the growth of the global market in the years to follow.
Competitive Analysis
The prominent players in the Nanomaterials Market Share are BASF SE (Germany), Arkema Group (France), Evonik Industries AG (Germany), Hongwu International Group Ltd (China), SHOWA DENKO K.K (Japan), NANOCHEMAZONE (Canada), Strem Chemicals, Inc (US), Canum Nanomaterials Inc. (Canada), Promethean Particles Ltd (UK), and NanoMaterials Technology Pte Ltd (Singapore).
Market Segmentation
The global nanomaterials market has been segregated on the basis of material type, application, and region.
By material type, the nanomaterials market has been divided into metal and non-metal oxides, carbon-based, chemical polymers, nano-ceramics, metals, dendrimers, and others. The metal and non-metal oxides segment accounted for the largest market share in 2018 and is expected to be the leading material type segment during the forecast period. The increasing demand for nano-oxides (silica, alumina), copper nanoparticles, silver nanowires, and nano-sized rhodium and palladium in the automotive and electronics industries is expected to be the key factor driving the growth of the segment during the review period. However, the carbon-based nanomaterials segment is projected to register the highest CAGR during the forecast period, 2019–2024.
On the basis of application, the global nanomaterials market has been categorized into transportation, electrical electronics, healthcare, construction, packaging, consumer goods, energy, and others. The transportation segment is expected to be the leading application segment during the forecast period owing to the widespread use of nanomaterials in the automotive and aerospace industries.
Regional Analysis
Asia-Pacific, Europe, North America, Latin America, and Middle East Africa are the five key regions studied for the Nanomaterials Company Revenue Analysis. The market in North America is projected to be the leading regional market during the forecast period owing to the widespread use of nanomaterials in the healthcare and automotive industries and strong support from the government and private sectors for the development of new and innovative applications of nanomaterials.
Asia-Pacific is projected to be the fastest-growing regional market during the forecast period on account of the expanding automotive and medical industries in the region. Also, the use of nanomaterials in the electronics industry is increasing at a robust rate, which is likely to propel regional market growth.
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