The Global Advanced Nanomaterials Market was valued USD 10.8 Billion in 2023 and projected to reach USD 32.4 Billion by 2030, growing at a CAGR of 14.7% during the forecast period of 2023-2030.
Richmond, Nov. 14, 2023 (GLOBE NEWSWIRE) — According to a research report “Advanced Nanomaterials Market”, by Materials (Carbon-based, Metal-based, Ceramic nanomaterials, Polymer nanomaterials, Composite nanomaterials), Application (Electronics, Energy and environment, Healthcare, Aerospace and defense, Automotive), and Region.
Global Advanced Nanomaterials Market Report Scope:
|Market size value in 2023||USD 10.8 Billion|
|Market size value in 2030||USD 32.4 Billion|
|Forecast Units||Value (USD Million/USD Billion)|
|Segments Covered||Materials, Application, Region and Geography|
|Geographies Covered||North America, Europe, Asia Pacific, and RoW|
|Sample of Companies Covered||
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TOC Covers in Depth & Breath on Advanced Nanomaterials Market
175 – Market Data Tables
66 – List of Figures
230 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
The advanced nanomaterials market is experiencing dynamic growth, propelled by a convergence of factors that underscore their pivotal role in various industries. The demand surge is fueled by advancements in nanotechnology, offering unprecedented possibilities in materials science, electronics, healthcare, and energy. The ability of advanced nanomaterials to exhibit exceptional properties at the nanoscale, such as enhanced strength, conductivity, and reactivity, has led to their widespread adoption. Moreover, ongoing research and development efforts are continually expanding the applications of these materials, promising breakthroughs in fields like medicine for targeted drug delivery and diagnostics, as well as in renewable energy for more efficient and sustainable solutions. As a result, the advanced nanomaterials market is marked by a dynamic interplay of innovation, commercialization, and a growing awareness of their transformative potential across diverse sectors.
Major vendors in the global Advanced Nanomaterials Market – BASF SE, Dow, DuPont, Arkema S.A., Evonik Industries, Solvay, Cabot Corporation, W.R. Grace & Co., 3M, Asahi Kasei Corporation, Toray Industries, Inc., Nitto Denko Corporation, Sumitomo Chemical Co., Ltd., Mitsubishi Chemical Corporation, Toyo Ink SC Holdings Co., Ltd., Graphenea, QuantumSphere, Inc., InMat Inc., Sigma-Aldrich, Aaxis Nano Technologies Pvt. Ltd., Carbotecnia, Proventus Global and Others.
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Increasing demand for nanomaterials in a wide range of applications
The escalating demand for nanomaterials across diverse applications is a key driver propelling the advanced nanomaterial market. Nanomaterials, characterized by their unique properties at the nanoscale, are experiencing heightened interest and adoption in industries such as electronics, healthcare, energy, and materials science. Their exceptional features, including enhanced strength, conductivity, and reactivity, make them integral components in cutting-edge technologies. In electronics, nanomaterials contribute to the development of smaller, faster, and more efficient devices, while in healthcare, they play a crucial role in advancements like targeted drug delivery systems. Additionally, the utilization of nanomaterials in energy storage, catalysis, and renewable energy applications underscores their versatility and growing indispensability, further driving the robust growth of the advanced nanomaterial market.
- Growing government support for nanotechnology research and development
- Rising consumer awareness of the benefits of nanomaterials
- Favorable regulatory environment for the nanomaterials industry
- Growing Development of new nanomaterials and applications
- Increasing adoption of nanomaterials in existing applications
- Increasing Commercialization of nanomaterial-based products
Increasing miniaturization in electronic devices
Miniaturization in electronic devices is a major trend in the advanced nanomaterials market. As electronic devices become smaller and more powerful, there is a growing demand for new materials that can be used to create smaller, faster, and more efficient components. Advanced nanomaterials, such as carbon nanotubes and graphene, offer a number of unique properties that make them ideal for use in miniaturized electronic devices. For example, carbon nanotubes are incredibly strong and lightweight, making them ideal for use in manufacturing transistors and other electronic components. Graphene is a single layer of carbon atoms that is incredibly thin and flexible, making it ideal for use in developing new types of displays and other components.
Advanced nanomaterials are also being used to develop new types of memory devices, batteries, and other energy storage devices. These new devices are expected to be smaller, lighter, and more energy-efficient than current devices.
The trend towards miniaturization in electronic devices is driving the demand for advanced nanomaterials with enhanced properties, such as strength, lightness, conductivity, and flexibility. Advanced nanomaterials are expected to play a major role in the development of next-generation electronic devices.
The market for Advanced Nanomaterials Market is dominated by North America.
Asia Pacific dominated the advanced nanomaterials market. The Asia Pacific region is experiencing rapid economic growth and industrialization. This is driving the demand for advanced nanomaterials in a wide range of industries, such as electronics, energy and environment, healthcare, and aerospace and defense. There is a large and growing nanomaterials industry in the Asia Pacific region. This industry is supported by a number of leading nanomaterials companies, such as Samsung SDI, LG Chem, and Toray Industries. The cost of manufacturing advanced nanomaterials is relatively low in the Asia Pacific region. This is making the region an attractive destination for foreign investment in the nanomaterials industry.
Asia Pacific region is expected to continue to dominate the advanced nanomaterials market in the coming years. This is due to the region’s rapid economic growth and industrialization, government support for nanotechnology research and development, presence of a large and growing nanomaterials industry, and low manufacturing costs. Also, Asia Pacific are the fastest growing region for the advanced Nanomaterials market. South Korea’s Ministry of Trade, Industry and Energy (MOTIE) has launched a new program to support the development and commercialization of advanced nanomaterials. The program will provide funding to companies that are developing new nanomaterials and applications.
Electronics Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on by application segment categorized into Electronics, Energy and environment, Healthcare, Aerospace and defense, Automotive. The electronic segment has a major share in the advanced nanomaterials market due to the increasing demand for smaller, lighter, and more powerful electronic devices. Advanced nanomaterials offer a number of unique properties that make them ideal for use in electronic devices. For example, carbon nanotubes are incredibly strong and lightweight, making them ideal for use in manufacturing transistors and other electronic components. Graphene is a single layer of carbon atoms that is incredibly thin and flexible, making it ideal for use in developing new types of displays and other components.
The electronics industry is also using advanced nanomaterials to develop new types of sensors, actuators, and other devices. For example, nanowires are being used to develop sensors that can detect even the smallest changes in temperature, pressure, and other environmental conditions. Actuators made from nanomaterials are being used to develop new types of micro- and nano-electromechanical systems (MEMS and NEMS) devices.
The electronics industry is a major user of advanced nanomaterials. The increasing demand for smaller, lighter, and more powerful electronic devices is expected to continue to drive the demand for advanced nanomaterials in the electronics industry in the coming years.
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