Nanotechnology in Energy Market - 2030
The global nanotechnology in energy market size was valued at $139.7 million in 2020, and is projected to reach $384.8 million by 2030, with global nanotechnology in energy market forecast expected at a CAGR of 10.7% from 2021 to 2030. Nanotechnology has various applications in different areas, which include electronics, where most commonly used nanomaterials are carbon nanotubes, quantum dots, and silver nano particles used for surface coating. Rapid development in electrical and electronic systems around the world, especially portable gadgets such as laptops and smartphones has increased demand for variety of nano-materials used in the electrical sector. Increase in use of nanoparticles in various electronics application ranging from conductive inks to electronic chips further increases its sales. In addition, rapid growth of the electronics industry in developing countries is anticipated to considerably boost growth of nanotechnology in the energy market in the upcoming years. Furthermore, research and development toward production of advanced electronic products such as touchscreen smartphones, sensors, electronic chips, and fuel cells is expected to create increased opportunities for key players in the nanotechnology in energy industry during the forecast period.
Rapid innovation and scientific development of hydrogen fuel cells for storage of excess energy from renewable energy sources is a prominent factor expected to increase sales of nanotechnology in energy market during the forecast period. Many countries have started to build green hydrogen production plants such as countries in Australia and Europe. Increase in demand for electricity and eco-friendly automotive vehicles such as electric vehicles and hydrogen vehicles has increased demand for hydrogen fuel cells. Increase in demand for hydrogen fuel cells has driven demand for nanotechnology in energy market during recent times. Rapid development in technology has increased demand for electricity. This has led to increase in demand for renewable energy resources such as wind, solar, and geothermal. Major investments from various countries around the world toward renewable energy made global energy giants invest in this sector and generate many innovations using nanotechnology majorly in design aspects and material aspects to increase efficiency of energy storage devices. Rapid urbanization, industrialization, and increase in price of fossil fuels are major factors expected to drive growth of the nanotechnology in energy market throughout the forecast period.
Low switching cost of nanotechnology-based materials toward traditional materials such as silicon, silver, transition metal oxides, germanium is expected to hinder growth of nanotechnology in the energy market during the forecast period. In addition, environmental and health concerns due to use of nanotechnology is another factor expected to hamper growth of the market.
By Material Type
Carbon nanotubes is projected to create abundant $ opportunity till 2030
The global nanotechnology in energy market is segmented on the basis of material type, application, end use and region.
By Application
Fuel cells & batteries is projected to create abundant $ opportunity till 2030
On the basis of material type, the global market is segmented into nanostructured material, carbon nanotubes, fullerene, others. The applications covered in the study include photovoltaic film coating, fuel cells and batteries, thermoelectric materials and aerogels. The end uses covered in the study include electrical, manufacturing, renewable & non-renewable energy and others.
By End Use
Electrical segment is projected to create abundant $ opportunity till 2030
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia Pacific and Europe.
By Region
Asia Pacific holds a dominant position in 2020
The major companies profiled in this report include Nano Dimension, Ablynx, Advance reproductions corporation, Z-medica LLC, InMat Inc, APS material, Inc., Solarmar energy, Inc., Solar Botanic Ltd., Rogue Valley Micro, and Advanced Nanoproducts.
Key findings of the study
- The Asia-Pacific nanotechnology in energy market is projected to grow at the highest CAGR of nearly 11.2%, in terms of revenue, during the forecast period.
- By material type, the carbon nanotubes segment accounted for the largest market share in 2020.
- On the basis of application, fuel cells and batteries segment accounted for the largest market share in 2020
- On the basis of end use, the electrical segment accounted for the largest nanotechnology in energy market share in 2020.
Impact Of Covid-19 On The Global Nanotechnology In Energy Market
- Emergence of COVID-19 had a positive impact on growth of the global market for a short period.
- Increasing electricity usage and use of energy storage due to shifting working preferences is expected to boost the market for a short span of time.
- The use of nanotechnology brought improvement in contact tracing tools during the covid-19 pandemic. These factors are expected to support the global nanotechnology in energy market growth in current times.
Key Market Segments
By Material Type
- Nanostructured material
- Carbon nanotubes
- Fullerene
- Others
By Application
- Photovoltaic Film Coating
- Fuel cells and Batteries
- Thermoelectric Materials
- Aerogels
By End Use
- Electrical
- Manufacturing
- Renewable & non-renewable energy
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Nanotechnology in Energy Market Report Highlights
| Aspects | Details |
 By MATERIAL TYPE |
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 By APPLICATION |
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 By END USE |
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 By Region |
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 Key Market Players | Rogue Valley Micro, InMat, Inc., Advance reproductions corporation, Ablynx, Advanced Nanoproducts, Solar Botanic Ltd., Z-medica, LLC, Nano Dimension, SolarMar energy, Inc., APS material, Inc. |
Analyst Review
The global nanotechnology in energy market is expected to depict increased growth opportunities during the forecast period, owing to rapidly increasing demand for nanotechnology in the electrical industry throughout the forecast period.
Several health concerns associated with nanotechnology-based products are expected to hinder growth of the nanotechnology in energy market in the upcoming years. However, rise in demand for nanotechnology in renewable and non-renewable energy, huge development of nanotechnology, especially in automotive and aerospace manufacturing sector, glorifying electricals and electronics are some of the key factors expected to boost demand for the nanotechnology in energy market during the forecast period. In addition, rapid urbanization growth and increase in government initiatives toward smart infrastructure across the globe are expected to drive the global nanotechnology in energy market during the forecast period.
The COVID-19 pandemic has positively impacted the global nanotechnology in energy market for a short span, owing to increase in use of nanotechnology brought improvement of contact tracing tools, production of effective disinfectants, and delivery of mRNA vaccines antiviral agents into human cells, thereby increasing demand for nanotechnology.
Moreover, companies are increasing spending over research & development and new product innovations to boost growth of the nanotechnology in energy market throughout the forecast period.
Companies are inheriting new product innovation strategy to support the growth of the nanotechnology in energy market throughout the forecast period.
Major applications of nanotechnology in energy include photovoltaic film coating, fuel cells and Batteries, thermoelectric materials and aerogels.
To get latest version of nanotechnology in energy market report can be obtained on demand from the website.
Asia Pacific will provide more business opportunities for nanotechnology in energy market in coming years
Carbon nanotubes segment accounted for largest nanotechnology in energy market share.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
Increase in demand for renewable and sustainable energy sources, and increasing applications of nanotechnology in fuel cells and batteries are the key factors driving the growth of nanotechnology in energy market
Nano Dimension, Ablynx, Advance reproductions corporation, Z-medica, LLC, InMat, Inc., APS material, Inc., SolarMar energy, Inc., Solar Botanic Ltd., Rogue Valley Micro and Advanced Nanoproducts.
Rapid development of smart cities across the globe is the key trend expected to create increased growth opportunities throughout the forecast period.
The expected market value of nanotechnology in energy by 2028 is US$314.3 million
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