Nano Materials Market Poised for US$ 43.27 Billion by 2032: Rising Demand for Lightweight and Strong Materials to Propel Growth
The global Nano Materials market is anticipated to grow from USD 11.29 billion to USD 43.27 billion in 10 years. The increasing utilization of nanomaterials in paints and coatings can create new opportunities over the forecast period. Moreover, the expanding utilization of nanomaterials in the healthcare sector and their rising application in water treatment are expected to boost the nanomaterials market in the upcoming years.
Newark, Nov. 22, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 11.29 billion in 2022 global Nano Materials market will reach USD 43.27 billion by 2032. The emergence of quantum computing technology creates opportunities for nanomaterials to develop quantum bits (qubits) and advanced quantum computing components, leveraging their unique properties. Additionally, using nanomaterials for sustainable construction and infrastructure development is an emerging opportunity, offering solutions for energy-efficient buildings, self-healing materials, and improved durability. Furthermore, nanomaterials will continue to revolutionize the healthcare industry, with upcoming opportunities in targeted drug delivery, diagnostic imaging agents, and the development of personalized medicine. Also, integrating nanomaterials into textiles and wearables will lead to innovative, high-value products, such as self-cleaning fabrics, flexible electronics, and advanced sensing technologies. This factor will create new opportunities in the nanomaterials market over the forecast years. Besides, the growing interest in space exploration and space travel will create opportunities for nanomaterials to develop lightweight, high-strength materials for spacecraft and equipment.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 11.29 Billion |
| Market Size in 2032 | USD 43.27 Billion |
| CAGR | 14.38% |
| No. of Pages in Report | 237 |
| Segments Covered | Type, Application |
| Drivers | Growing Demand for Lightweight and Strong Materials |
| Opportunities | Energy Storage and Conversion |
| Restraints | High Production Costs |
Key Insight of the global Nano Materials market
Asia Pacific is expected to witness the highest market growth over the forecast period.
The Asia Pacific region, encompassing countries like China, Japan, South Korea, and India, has experienced robust economic growth in recent decades. This growth has increased the demand for advanced materials, including nanomaterials, to support various electronics, automotive, construction, and healthcare industries. In addition, many nations in the Asia Pacific region have invested heavily in research and development, particularly in nanotechnology. This factor has led to significant technological advancements in synthesising and applying nanomaterials, making the region a hub for innovation. Furthermore, proximity to sources of raw materials and efficient logistics and transportation networks ensures a stable supply of resources for producing nanomaterials. Besides, many governments in the Asia Pacific have implemented policies and initiatives to support the development and adoption of nanotechnology and nanomaterials. These initiatives include research grants, tax incentives, and regulatory frameworks that encourage innovation in the field.
In 2022, the titanium (Ti) segment dominated the market with the largest share of 16.47% and revenue of 1.86 billion.
The type segment includes gold (Au), iron (Fe), copper (Cu), silver (Ag), platinum (Pt), titanium (Ti), nickel (Ni), antimony tin oxide, bismuth oxide, aluminum oxide, carbon nanotubes and others. In 2022, the titanium (Ti) segment dominated the market with the largest share of 16.47% and revenue of 1.86 billion.
In 2022, the non-polymer organic nanomaterials segment dominated the market with the highest share of 61.85% and market revenue of 6.98 billion.
The structure type segment is classified into non-polymer organic nanomaterials and polymeric nanomaterials. In 2022, the non-polymer organic nanomaterials segment dominated the market with the highest share of 61.85% and market revenue of 6.98 billion.
In 2022, the medical segment held the largest market share at 31.46% and a market revenue of 3.56 billion.
The application segment is divided into automotive, medical, aerospace, energy & power, paints & coatings, electronics, and others. In 2022, the dental hospital & clinics segment held the largest market share at 31.46% and a market revenue of 3.56 billion.
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Advancement in market
In May 2023: Nanoco and Guangdong Poly Optoelectronics Co., Ltd. jointly signed a collaboration agreement. This licensing agreement outlines their partnership in advancing cadmium-free quantum dot products for different applications, notably lighting films and advanced displays. The partnership signifies a significant opportunity for Nanoco to offer its CFQD quantum dots in the Chinese market, transitioning from cadmium-based products to environmentally sustainable alternatives.
In December 2022: Umicore, a company specializing in circular materials technology, and Nano One Materials Corp., a clean technology firm, have announced the execution of a non-exclusive Joint Development Agreement (JDA) focused on the advancement of production process technologies for cathode active materials (CAM) used in lithium-ion batteries. Within this collaboration, Umicore will assess Nano One’s own M2CAM One-Pot process technology to integrate it into Umicore’s proprietary process technology for manufacturing high-nickel NMC (nickel, manganese, cobalt) CAM. Through this agreement, both parties intend to harness their respective technologies and expertise to enhance CAM production by increasing throughput rates while concurrently reducing costs and the environmental impact.
Market Dynamics
Driver: Growing electronics and semiconductor industry.
The miniaturization trend in electronics relies on nanomaterials for improved electronic components’ performance, efficiency, and miniaturization. Therefore, the growing electronics industry is driving the demand for the nanomaterials market. Furthermore, nanomaterials are used in environmental remediation processes, such as water and soil purification, to address pollution and contamination issues. This factor also boosts the market’s growth. Also, developing economies with growing industrial sectors are increasingly adopting nanomaterials for their versatile properties and potential cost-efficiency.
Restraint: Complexity of manufacturing and market fragmentation.
The intricate processes and precision required for producing nanomaterials can be a barrier for companies without specialized equipment or expertise. The nanomaterials market is highly fragmented, with various nanomaterials and applications. This fragmentation can make navigating the market challenging for investors and customers. Besides, disputes over intellectual property rights and patents can hinder the development and commercialization of nanomaterials, creating legal obstacles.
Opportunity: Growing automotive industry and the global rollout of 5g technology.
The transition to electric vehicles and the need for energy-efficient transportation offer opportunities for nanomaterials in vehicle components, battery technology, and coatings. Furthermore, collaborations between research institutions and industry players can lead to innovative breakthroughs and opportunities for commercializing new nanomaterials. Also, the global rollout of 5G technology and the subsequent demand for faster data transmission and storage require advanced nanomaterials for improved semiconductors and data storage devices. These factors are further anticipated to create significant opportunities throughout the forecast years.
Challenge: Environmental concerns and ethical dilemmas.
Certain nanomaterials’ disposal and long-term environmental impact need to be better understood, raising concerns about their ecological effects. This factor may restrict the market’s growth. In addition, applying nanomaterials in fields such as nanomedicine and surveillance technologies can raise ethical questions, creating challenges in their development and use. Also, some nanomaterials need more support when scaling up production to meet the demands of mass markets, resulting in supply constraints.
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Some of the major players operating in the global Nano Materials market are:
• American Elements
• Arkema Group
• ACS Material
• BASF SE
• Cabot Corporation
• CHASM Advanced Materials Inc.
• Chengdu Organic Chemicals Co. Ltd (Timesnano)
• Cytodiagnostics, Inc.
• Daikin Industries Ltd.
• DuPont
• Evonik Industries AG
• Frontier Carbon Corporation
• Jiangsu Cnano Technology Co. Ltd.
• Lanxess Corporation
• LG Chem, Merck KGaA
• Nanoco Technologies
• Nanocyl S.A.
• Nanocomposix, Inc.
• Nanoshel LLC
• Nanophase Technologies Corporation
• OCSiAl
• Quantum Materials Corp.
• Raymor Industries Inc.
• SHOWA DENKO K.K.
• Strem Chemicals, Inc.
• SkySpring Nanomaterials, Inc.
• Umicore N.V.
• US Research Nanomaterials, Inc.
• ZYVEX Technologies
Key Segments cover in the market:
By Type
• Gold (Au)
• Silver (Ag)
• Iron (Fe)
• Copper (Cu)
• Platinum (Pt)
• Titanium (Ti)
• Nickel (Ni)
• Aluminum Oxide
• Antimony Tin Oxide
• Bismuth Oxide
• Carbon Nanotubes
• Others
By Structure Type
• Non-Polymer Organic Nanomaterials
• Polymeric Nanomaterials
By Application
• Aerospace
• Automotive
• Energy & Power
• Electronics
• Medical
• Paints & Coatings
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion) and volume (Tons). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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