Nanomaterials - The increasing applications of nanotechnology across various verticals and advent of novel methods for nanostructures fabrication are offering lucrative opportunities for vendors in the market
According to Stratistics MRC the“Global Nanomaterials Market” accounted for $4.79 billion in 2015 and is expected to reach $19.83 billion by 2022 growing at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period. The nanomaterials market is favored by governmental funding to support prospective growth. Continuous innovation in the field of nanotechnology is driving the growth of the nanomaterials market. The increasing applications of nanotechnology across various verticals and the advent of novel methods for nanostructures fabrication are offering lucrative opportunities for vendors in the market. However, rising environmental concerns and toxicity of nanomaterials have a negative impact on the market. Partnerships & strategic alliances by existing players, a growing number of players operating in the market and newer material developments are further fuelling the market.
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The global nanomaterials market is segmented by application into transportation, packaging, health care, energy, electrical and electronics, consumer goods, construction, aerospace & defense and other applications. Healthcare applications are expected to grasp major revenue share in the nanomaterials market due to rising demand for efficient and cost-effective healthcare treatment. This can also be attributed to the extensive usage of commercialized nanomedicine applications in the field of drug delivery, cardiovascular, oncology, and neurology treatment. However, during the next couple of years, energy and electronics segments are expected to display the fastest growth.
Global nanomaterials market is segmented by product into non-polymer organic nanomaterials, polymeric nanomaterials, metals, simple oxides, complex oxides, semiconductors, non-classified nanomaterials, metal oxides, nano-tubes, chemicals & polymers, nanowires, nanoclays, quantum dots and other nanomaterials. Metal & metal oxides encompass key role in several areas of physics, chemistry and materials science. They are useful in various technological applications such as fabrication of microelectronic circuits, sensors, piezoelectric devices, fuel cells, coatings for the passivation of surfaces against corrosion, and as catalysts.
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This report also covers trends driving each segment and offer analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. North America commanded the market followed by Europe, due to increased usage of nanomaterials in healthcare and electronics industries in the region. Significant growth of nanomaterials was observed in the Asia Pacific during the last couple of years owing to favorable government initiatives continued environmental awareness and rise in demand for specialty materials. Developing countries such as China and India are attracting investments and expected to witness expansions from top players.
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Some of the key players in the market are Showa Denko, Nanocyl SA, Kuraray, Hyperion, Catalysis International Inc., Hollingsworth & Vose, Finetex, Elmarco, DuPont, CNano Technology Ltd., Bayer AG, Arkema and Ahlstrom.
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