Nanomaterials Market
The Nanomaterials Market size is estimated to reach US$17.1 billion by 2027, after growing at a CAGR of 12% during the forecast period 2022-2027. Nanomaterials comprise one external dimension accounting for 100 nanometers (nm) with an internal dimension measuring 100 nm or less.?Nanomaterials are utilized in a range of applications such as textile , medical and healthcare, electronics, construction?and?many others. According to the U.S. Bureau of Economic Analysis, the output of textile manufacturing in the U.S. in 2019 was US$18.79 billion which was 23.8% more than the numbers in 2009. Thus, the growth in such end-use industries is boosting its market growth.?Plenty of nanomaterial- and nanotechnology-related applications have been developed during the past few years. Carbon-based nanomaterials include graphene, fullerenes, carbon nanotubes?and?many others. Graphene has emerged as a significant Nanomaterial that can be used in sensors, biodevices and optics.
Report Coverage
The “Nanomaterials Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Nanomaterials industry.
By Type: Graphene, Nanofilm, Nanowire, Nanofiber, Nanoparticle, Nanocolloid, Aerogel, Nanofoam, Nanoporous and Others.
By Application: Sunscreen, Lithium-ion Batteries, Drug Delivery, Cement, Sporting Goods, Stain-Resistant Clothing, Tires, Food Packaging, Solar Cells and Others.
By End-use Industry: Aerospace (Commercial Aviation, Military Aviation and General Aviation), Automotive (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles), Energy & Power, Medical and Healthcare (Drug Delivery, Regenerative Medicine, Diagnostics, Wound Dressings and Others), Electronics, Paints & Coatings, Cosmetics and Personal Care, Packaging, Sports Industry, Construction (Residential, Commercial and Industrial), Agriculture and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).
Key Takeaways
Nanomaterials Market Segment Analysis – by Type
The nanoparticle segment is expected to grow at the fastest CAGR of 14.5% during the forecast period in the Nanomaterials Market. The thickness of nanomaterials is 100,000 times lesser than the thickness of paper. The materials which are manufactured in this small size are generally called engineered nanomaterials. Nanomaterials are available naturally and also designed by scientists commercially to be used in a range of applications. Nanoparticles are available widely in nature and their size is around 100nm in diameter. In nature, they can be produced by the combustion of food and vehicle exhaust. Commercially manufactured nanoparticles are metal oxides such as zinc oxide and titanium dioxide. They are used in cosmetics, textiles and paints because of their chemical reactivity and optical properties. Thus, several benefits associated with the use of nanoparticles are boosting the growth of the market and are expected to account for a significant share of the nanomaterials market.
Nanomaterials Market Segment Analysis – by End-use Industry
The electronics segment held the largest share of over 21% in the Nanomaterials Market in 2021, with a share of over 21%. Nanomaterials are largely been used in personal care products, cosmetics, paints, medical equipment, plastics, fuel additives and many others. Nanomaterials are available in a variety of sizes and shapes. Among them, carbon-based nanomaterials have a wide range of usages such as in sports equipment and in integrated circuits for electronic components. Quantum dots have increased utilization in electronics applications owing to their semiconductor properties. These are used in the manufacturing of electronics devices, graphene electrodes, optics, display devices and optoelectronic nanodevices. According to Semi-Conductor Industry Association, in 2020, the global sale of the semiconductor industry stood at US$ 439 billion dollars, showing a 6.5% increase from 2019. Thus, the growth in the electronics industry is boosting the growth of the Nanomaterials market.
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Nanomaterials Market Segment Analysis – by Geography
Asia-Pacific dominated the Nanomaterials market in 2021, with a share of 37%. This growth is mainly attributed to the presence of several industries such as automotive, energy and power, medical and healthcare, electronics, paints & coatings, cosmetics and personal care, packaging and others. Furthermore, the existence of developing economies such as China, India, Australia, Indonesia and others provide several avenues for growth. Besides, nanomaterials play an important role and it is widely used in various industrial purposes such as automotive, construction, electronics, packaging, medical and healthcare and others. As per the 2021 report of the European Automobile Manufacturers Association on global vehicle production, China produced 32% of 74 million cars manufactured worldwide with Japan & Korea producing 16%. Thus, the significant demand from end-use industries in this region also boosts the growth of the Nanomaterials market.
Nanomaterials Market Drivers?
Growth in the medical and healthcare sector:
Nanomaterials and nanotechnology have?positively?impacted the medical and healthcare industry. Nanomaterials are adopted in this industry because of their small dimensions and mobility. It is efficiently used in drug delivery, biomedical imaging and magnetic resonance imaging. It is also used in cancer treatment to locate cancer cells and make the overall treatment more effective. According to US Census Bureau, in November 2021, construction spending on healthcare was US$51.3 million, showing a 9% increase, compared to US$46.7 million in 2020 same month. Thus, the increase in adoption of nanomaterials in the medical and healthcare sector is propelling the growth and is expected to account for a significant share of the Nanomaterials market size.
Surge in adoption in cosmetics and personal care industry:
Currently, the cosmetic and personal care industry is increasing at a noteworthy rate with the consumer inclination toward self-care and a surge in disposable income. Nanotechnology has emerged and enhanced the cosmetics industry significantly. Nanomaterials such as zinc oxide and titanium oxide are able to absorb and reflect UV light, thus, can be used in sunscreens and anti-aging creams. Liposomes and niosomes are largely used in the cosmetics industry. As per the Personal Care Association of Europe, in 2020, skincare products with a value of US$23.74 billion, held the maximum share of the European cosmetics market in major countries like Germany, France, the UK, Spain and Italy. Thus, the growth in the personal care and cosmetic industry driving the global Nanomaterials market.
Nanomaterials Market Challenges
Health and environmental impacts of Nanomaterials:
The experimental evidence says that airborne nanoparticles may affect the lungs, heart and blood circulation. The nanomaterials such as carbon-based nanomaterials and inorganic-based nanomaterials can cause genetic damage in some cases. Many of the nanomaterials are also led to exposure to the environment and affect soil, water and air. Inhalation of nanomaterials can cause lung inflammation and heart issues. Nanoparticles can cause cancer in case of poor solubility. Nanoparticles enter dermally when used in hair care and skin care products and they are reported to cause erythema. Thus, the aforementioned factors may hamper the market growth.
Nanomaterials Industry Outlook
The top 10 companies in the Nanomaterials market are -?