The Nanomaterials market was valued at US$ 7.63 Bn in 2018 and expected to reach US$ 28.15 Bn by 2027 at a CAGR of 17.8% throughout the forecast period from 2019 to 2027.
Market Insights
“Increasing advancements in nanotechnology will spur revenue growth during the forecast period”
Increasing demand for high strength durable structural materials coupled with falling prices of nanomaterials across the globe are factors proliferating the demand o nanomaterials market. Apart from this, nanomaterials can be customized with various modulation dimensionalities. The increasing usage of nanomaterials in the healthcare industry especially nanocrystalline API and use of nanocomposites to produce advanced medical devices among others are further enhancing the growth of nanomaterials market across the globe. Furthermore, increasing usage of nanomaterials in the automotive and aerospace & defense industry due to the benefits offered by nanomaterials including durability and strength are having a positive influence on market growth.
Additionally, nanomaterials can be derived from three sources engineered, incidental and natural. The increasing availability of methods to synthesize nanomaterials such as self-assembly and covalent synthesis among others are further boosting the nanomaterials market growth. The energy & construction sector, in particular, is expected to see highest growth due to the increasing penetration of nanomaterials in these sectors. As the prices of nanomaterials are declining various end-users are adopting it due to its physiochemical properties.
Industrial Developments
• In October 2019, Cabot Corporation announced extension of its advanced product portfolio with new product launch of Athlos Carbon nanostructures for engineered polymers.
Key Market Movements
• Globally, the nanomaterials market is expanding at a CAGR of 17.8% in terms of revenue for the period of 2019 to 2027. In 2018, the market accounted for US$ 7.63 Bn and is expected to reach US$ 28.15 Bn by 2027.
• Based on application, the market is classified into industrial & manufacturing, automotive, aerospace & defense, healthcare, energy, paints & coatings, electronics & consumer goods, others (personal care). The Aerospace & defense segment leads the market in terms of revenue and is anticipated to dominate during the years to come. This can be attributed to the increasing usage of nanomaterials to make aerospace parts stronger, and durable among others. According to recent reports nanomaterials increase fatigue by 200-300%
• North America region appeared as the market leader of the nanomaterials market accounting for a share of more than 30%. This can be attributed to the rising application of nanotechnology products and the use of nanomaterials for product designing.
List of Companies Covered:
• Ahlstrom
• BASF SE
• Bayer AG
• Chasm Technologies Ltd.
• CNANO Technologies Ltd.
• Cabot Corporation
• Elmarco
• Finetex ENE
• Glonatech SA
• Kuraray
• Nanocyl SA
• Nanoviricides
• Sumitomo
• Showa Denko
• Zyvex Technologies.
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