Nanomaterials Market Size Worth $23.1 Billion By 2028: Grand View Research, Inc.
SAN FRANCISCO, Dec. 7, 2021 /PRNewswire/ -- The global nanomaterials market size is expected to reach USD 23.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.1% from 2021 to 2028. Factors such as increasing applications of nanomaterials in electronics and biomedical domains, financial support from the government, ongoing R&D, and rapid economic growth are expected to drive the market in the forecast period.
Key Insights & Fndings from the report:
- The medical applications segment is expected to witness the fastest CAGR of 29.9% from 2021 to 2028. This growth can be attributed to wide a range of applications such as biomedical device coatings, drug-delivery carriers, and imaging probes. In addition, these are being used for the treatment of cancer, diabetes, pain, asthma, allergy, and infections
- The market in the Asia Pacific was estimated to account for USD 2.8 billion in 2020 owing to rising demand for nanomaterials from microelectronics and nanoelectronics as the use of sophisticated devices grows
- In North America, apart from federal investments, state governments and private companies are increasingly investing in developing novel applications of nanomaterials in biomedical, electronics, and automotive. The market growth can be attributed to increasing applications in the nanoelectronics and biomedical sectors
- Stringent regulations in North America and Europe are projected to hinder the growth of the market in these regions. Regulatory authorities such as the Food and Drug Administration, and the Health and Consumer Protection Directorate are investigating the potentially harmful impacts on the environment and human health
Read 142 page market research report, "Nanomaterials Market Size, Share & Trends Analysis Report By Product (Gold, Silver, Iron, Copper), By Application (Aerospace, Automotive, Medical), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
The market is witnessing huge potential on account of continuous R&D activities over the recent years. Nanomaterials are anticipated to gain popularity owing to their superior properties coupled with their diversified applications in a wide range of industries such as aerospace, automotive, electronics, energy storage, and wastewater treatment.
The growth of the market is adversely affected by the economic crisis and lockdown caused by the Covid-19 pandemic. However, industries are gradually shifting towards a new normal to gain a similar growth trend as before the pandemic. Key players are dominating the market by offering a diversified product portfolio. Manufacturers provide products on the basis of standard and design specifications provided by the end-users. However, an increasing number of potential suppliers is expected to bring down the supplier's bargaining power to moderate.
Grand View Research has segmented the global nanomaterials market on the basis of product, application, and region:
- Nanomaterials Product Outlook (Revenue, USD Million, 2017 - 2028)
- Gold (Au)
- Silver (Ag)
- Iron (Fe)
- Copper (Cu)
- Platinum (Pt)
- Titanium (Ti)
- Nickel (Ni)
- Aluminum Oxide
- Antimony Tin Oxide
- Bismuth Oxide
- Carbon Nanotubes
- Others
- Nanomaterials Application Outlook (Revenue, USD Million, 2017 - 2028)
- Aerospace
- Automotive
- Medical
- Energy & power
- Electronics
- Paints & Coatings
- Others
- Nanomaterials Regional Outlook (Revenue, USD Million, 2017 - 2028))
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
List of Key Players of Nanomaterials Market
- Strem Chemicals, Inc.
- American Elements
- US Research Nanomaterials, Inc.
- Nanocomposix, Inc.
- Frontier Carbon Corporation
- Nanoshel LLC
- SkySpring Nanomaterials, Inc.
- Nanophase Technologies Corporation
- Cytodiagnostics, Inc.
- Quantum Materials Corp.
Browse through Grand View Research's coverage of the Global Nanoparticles Industry:
- Magnetite Nanoparticles Market – The global magnetite nanoparticles market size was valued at USD 43.9 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% from 2019 to 2025. Increasing demand for the product in application industries such as bio-medical, electronics, wastewater treatment, and energy is expected to drive the market.
- Gold Nanoparticles Market – The global gold nanoparticles market demand was 1513.8 kilos grams in 2018. Increasing the use of metal nanoparticles in medical and dentistry, particularly in target imaging and diagnostics is majorly driving growth.
- Carbon Nanotubes Market - Global carbon nanotubes market size is expected to reach USD 3.42 billion by 2022, expanding at a CAGR of 14.8%, according to a new study by Grand View Research, Inc.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.
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