Nanomaterials Market Research, 2031
The global nanomaterials market was valued at $16.3 billion in 2021, and is projected to reach $62.8 billion by 2031, growing at a CAGR of 14.6% from 2022 to 2031.
Materials with at least one spatial dimension and a size between 1 and 100 nanometers are referred to as nanomaterials. It is possible to generate nanomaterials with different modulation dimensionalities. Atomic clusters, quantum dots, nanocrystals, nanowires, and nanotubes are examples of individual nanostructures. Collections of nanostructures include arrays, assemblies, and superlattices of individual nanostructures. Nanomaterials' physical and chemical characteristics can be very different from those of atomic-molecular or bulk materials with the same composition. The foundation of nanoscience is the uniqueness of the structural properties, responses, dynamics, chemistry, and energetics of nanostructures. In the upcoming years, it is anticipated that the market for nanomaterials will be studied in a number of troublesome areas, including nanoparticles or nanocrystals of metals and semiconductors, nanotubes, nanowires, and nanobiological systems.
In the recent years, nanoscience and nanotechnology have grown rapidly. The nanomaterials industry is being driven by the expanding availability of numerous tools and methods for synthesis in nanomaterials. Nanomaterials can currently be created using synthetic processes such covalent synthesis, self-assembly methods, and processing. New techniques for creating patterned nanostructures offer the chance for more accurate computer simulation and modelling. Other emerging potential uses include dispersions and coating, consolidated materials, bio-medical, and nano devices.
Carbon nanomaterials are extensively employed in medicine and pharmaceuticals for the sensitive detection of important biological molecules, safer and accurate imaging of sick tissues, and innovative therapies because of their mechanical, optical, electrical, and chemical properties. Several therapeutic and diagnostic agents based on carbon nanoparticles have been created for the treatment of cancer, diabetes, pain, asthma, allergy, and infections, resulting in increase in market for nanomaterials. The researchers at Worcester Polytechnic Institute linked antibodies to carbon nanotubes on chips in order to identify cancer cells in the circulation. According to the researchers, this is expected to facilitate early identification of cancer cells in the circulation; hence driving the nanomaterials market. Lack of research and undeveloped knowledge of nanostructures are two main restraints for the nanomaterials market analysis and expansion. Also potential of safety risk to health and environment is restraining the nanomaterials market growth.
The nanomaterials market is segmented on the basis of material type, end user industry, and region. Depending on material type, the market is categorized into carbon based nanomaterials, metal & non-metal oxides, metals based nanomaterials, dendrimers nanomaterials, nanoclay, and nanocellulose. On the basis of end user industry, the market is categorized into paint & coatings, adhesives & sealants, healthcare & life science, energy, electronics & consumer goods, personal care, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global nanomaterials market include, Arkema Group, Daikin Industries Ltd, DuPont, Evonik Industries AG, Lanxess Corporation, LG Chem, Merck KGaA, Nanoco Technologies Ltd, Nanocyl S.A., and Umicore N.V.
By Material Type
Dendrimers is projected as the most lucrative segment.
On the basis of material type, the metals segment dominated the market and accounted for the largest revenue share in 2021. The rapid development of end-user companies is another solid factor expected to drive the global metal nanoparticles market significantly.
By End Use Industry
Paints & Coating is projected as the most lucrative segment.
On the basis of end user industry, the paints and coatings segment is expected to grow significantly due to the development of modern technologies to customize the production and use of nanomaterials in the coatings industry to their specific needs. Nanomaterials improve the curing, UV absorption and biocidal properties of paints and varnishes. In paints and coating industry the nanomaterials market share is expected to increase rapidly over the forecast period
Asia-Pacific holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.
On the basis of region, Asia-Pacific dominated the nanomaterials market and accounted for the largest revenue share of 39.1% in 2021. The growth can be attributed to the surge in use of nanomaterials in electronics, medical equipment, aerospace and defense, textiles, and automotive industries.
COVID-19 Impact on Market
- The COVID-19 pandemic has affected the global imports and exports of several goods. Multiple governments have enacted export restrictions that have a considerable impact on supply. In addition, nanomaterial makers experienced difficulties in getting raw materials, which caused delays in shipments to customers.
- During the COVID-19 pandemic in 2020, the demand for nanomaterials has decreased from its end user industries due to lockdown. Nevertheless, a number of R&D organizations are creating fresh potential uses for nanomaterials in the detection, prevention, and treatment of COVID-19 and other viral infections due to which the demand for nanomaterials increased from beginning of 2021.
Key Benefits For Stakeholders
- The report includes an in-depth analysis of different segments and provides nanomaterials market estimations between 2022 and 2031.
- The nanomaterials market size is provided in terms of revenue and volume.
- A comprehensive analysis of the factors that drive and restrict the growth of the nanomaterials market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current nanomaterials market trends and future estimations from 2022 to 2031, which helps to identify the prevailing market opportunities.
Nanomaterials Market Report Highlights
Market Size By 2031
USD 62.8 billion
CAGR of 14.6%
2021 - 2031
By Material Type
By End Use Industry
Key Market Players
DAIKIN INDUSTRIES LTD, ARKEMA GROUP, NANOCO TECHNOLOGIES LIMITED, MERCK KGAA, NANOCYL S.A., LANXESS CORPORATION, EVONIK INDUSTRIES AG, UMICORE N.V., LG CHEM, DUPONT
As per CXO perspective, the nanomaterials market is expected to grow during the forecast period, owing to driving factors such as developments in the automotive and aerospace sectors coupled with increasing use of nanomedicine in the medical industry. Increase in use of water treatment chemicals and new applications of carbon nanomaterials are projected to drive the growth of the nanomaterials market. However, growing concerns about the toxicity and harmful effects of nanomaterials on the environment and high capital costs hinder the growth of the nanomaterials market. On the other hand, the market for nanomaterials may offer great opportunities due to advances in manufacturing processes and growing applicability in electrical and electronic fields.