Nanomaterials Industry Overview
The global nanomaterials market size was estimated at USD 8.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 14.1% from 2021 to 2028.
Excellent physio-chemical properties and growing usage of nanomaterials in electronics, healthcare, aerospace, and textiles industries are expected to drive the market over the forecast period. The market for nanomaterials plummeted due to the outbreak of the COVID-19 pandemic, leading to a decline in the purchasing power of the population. The declining demand in the aerospace, automotive, electronics sector continued in 2020 amidst the COVID-19 pandemic. However, there has been a revival in demand in 2021 mainly due to the ease of restrictions and financial packages announced by governments to jumpstart the economies, which have improved consumer demand.
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However, several R&D organizations are developing new potential applications of nanomaterials in the diagnosis, prevention, and treatment of COVID-19 and other viral diseases. Nanomaterials are increasingly being used in biomedical or imaging applications, implants, photothermal therapy, and drug delivery owing to their antimicrobial, antioxidant, and anticancer properties. Such medical applications are expected to reduce the impact on the growth caused by Covid-19.
The U.S. market for nanomaterials is anticipated to witness the highest growth in the region owing to the increasing application scope of nanomaterials in various industries such as biomedical, energy, electronics, and wastewater treatment. To lead technological advancement across the globe, the U.S. government invests heavily in nanotechnology. It coordinates work on nanomaterials through the National Nanotechnology Initiative (NNI) program.
The market for nanomaterials is projected to grow at a tremendous rate on account of its wide application scope, therefore the threat of entrants is expected to be high. New market entrants would first have to compete with companies that have established a strong foothold in the industry as well as a well-established customer base. The threat of new entrants is also expected as a result of backward or forward integration by companies operating in the parent market.
Factors such as the expected rise in the population exposed to these nanoparticles, occupational exposure along with expected evolution of potentially harmful effects in the coming years are expected to trigger the implementation of stringent regulations. Thus, the expected incremental stringency in the norms related to nanomaterials and nanotechnology is expected to pose a challenge for industry growth in the future.
Browse through Grand View Research's Nanoparticles Industry Research Reports.
- Petrochemicals Market – The global petrochemicals market size was valued at USD 556.09 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030.
- Biosensors Market – The global biosensors market size was valued at USD 24.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030. Biosensor demand is increasing due to a variety of medical applications, a growing diabetes population, a high need for tiny diagnostic devices, and quick technological improvements.
Nanomaterials Market Segmentation
Grand View Research has segmented the global nanomaterials market on the basis of product, application, and region:
Nanomaterials Product Outlook (Revenue, USD Million, 2017 – 2028)
- Gold (Au)
- Silver (Ag)
- Iron (Fe)
- Copper (Cu)
- Platinum (Pt)
- Titanium (Ti)
- Nickel (Ni)
- Aluminum Oxide
- Antimony Tin Oxide
- Bismuth Oxide
- Carbon Nanotubes
Nanomaterials Application Outlook (Revenue, USD Million, 2017 – 2028)
- Energy & power
- Paints & Coatings
Nanomaterials Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- June 2021: The Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market.
- April 2021: Imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021.
Key Companies profiled:
Some prominent players in the global nanomaterials market include
- Strem Chemicals, Inc.
- American Elements
- US Research Nanomaterials, Inc.
- Nanocomposix, Inc.
- Frontier Carbon Corporation
- Nanoshel LLC
- SkySpring Nanomaterials, Inc.
- Nanophase Technologies Corporation
- Cytodiagnostics, Inc.
- Quantum Materials Corp
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