Global Nanomaterials Market valued at 14 billion in 2015 and is expected to reach $55 billion by 2022 – Acute Market Reports
Nanomaterials market valued at 14 billion in 2015 and is expected to reach $55 billion by 2022, registering a CAGR of 20.7% from 2016 to 2022.Nanomaterials can be defined as the materials with at least one external dimension in the size range of approximately 1 to 100 nanometers. The report focuses on current market trends and future growth opportunities of nanomaterials, in industries such as paints & coatings, adhesives & sealants, healthcare, energy, electronics & consumer goods, personal care, and others. It also emphasizes on various types of nanomaterials that are commercially available in the market, namely, carbon based (carbon nanotubes, fullerenes & POSS, and graphene), metal and non-metal oxides (titanium dioxide, zinc oxide, silicon dioxide, aluminum oxide, cerium oxide, antimony tin oxide, copper oxide, bismuth oxide, cobalt oxide, iron oxide, magnesium oxide, manganese oxide, and zirconium oxide), metals (silver, gold, nickel, and quantum dots), dendrimers, nanoclay, and nanocellulose. It also analyzes the current market trends of nanomaterials in different geographies and suggests the future growth opportunities by analyzing government regulations & policies, which can further increase the consumer acceptance in that region.
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According to the perspective of leading companies, the factors that drive the demand for nanomaterials in various end-user industries are growing investment in research and development, increasing popularity of nanomaterials in various application industries, and the excellent physio-chemical properties of nanomaterials. Nanomaterials are usually added in small quantities to improve the performance of the base material. However, factors such as stringent environmental regulations and high price of nanomaterials may hamper the market growth. Currently, the paints & coatings, adhesives & sealants, electronics & consumer goods, and personal care segments are the major end-user markets for nanomaterials.
Key players in the world nanomaterial market have adopted different business strategies such as capacity and business expansion, partnerships, mergers, acquisitions, and product & application development to survive in the global competitive market. The market players profiled in this report are nanomaterials manufacturers who either use it internally in some applications, or supply it to other end-users in the industry. The data pertaining to market players and their strategic moves are gathered through press releases of the respective companies, various blogs available on their websites, and primary calls made to the experts in the industry.
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Asia-Pacific is the most attractive market for the new entrants along with industry players on account of the increasing demand for nanomaterials The growing number of industries and increased expenditure towards nanotechnology research is expected to provide significant opportunities to the industry players.
Nanomaterials is an extensively research & development based industry. Most of the nanomaterials commercially available in the market are at the initial stage of the product life cycle. Across the globe, industry players are investing significantly along with government institutions to find commercial applications for this wide range of nanomaterials. The Federal Budget, has recently allotted a total funding of more than $1.4 billion for the National Nanotechnology Initiative (NNI), which is a U.S. Government research and development (R&D) initiative, for the year 2017; the total spending is around $24 billion cumulatively, since the inception of NNI in 2001. Over the years many new and emerging applications for nanomaterials have been found with government funding and support such as in field emission display, body armors, water purification, drug delivery, bio fuel cell, wind turbine blades, and others
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