The research report on ‘global nanomaterials market’ covers the past and present business records as well as entails a comprehensive analysis of the industry performance over 2021-2028.
Pune, India, Dec. 06, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global nanomaterials market accounted for USD 29.27 billion in 2020 and is anticipated to witness a y-o-y growth rate of 14.94% in terms of revenue and 15.61% on the basis of volume over 2021-2028, eventually amassing a valuation of USD 75.50 billion by the end of study period.
The report carefully crafts business intelligence pertaining to the various industry segmentations, including material type, end user range, and regional divisions to highlight the key areas for investment during the forecast period.
Besides, an intricate analysis of the competitive landscape on the basis of the strategies, financials, and recent developments involving the major market players makes up a major portion of the research report, further ensuring high profitability and improved decision making among potential investors.
Increasing demand for lightweight products & compact electronic consumer devices, low cost of raw materials, and governmental support are majorly driving global nanomaterials market growth. In addition, augmenting applications of nanomaterials in healthcare sector are generating lucrative opportunities for the market development.
On the downside, stringent environmental regulations and high processing costs are likely to act as bottlenecks for the market progression over the projected timeline.
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An overview of the geographical reach
The regional analysis of global nanomaterials market covers North America, Asia Pacific, Europe, and Latin America.
North America nanomaterials market is likely to expand at a CAGR of 14.59% in terms of revenue and 15.23% in terms of volume over 2021-2028. Availability of innovative technologies integrated with nanomaterials, widespread adoption of the technology in various applications, and increasing investments in research and development activities of nanotechnology are favoring the regional market outlook. In North America, nanomaterials are widely used in electronic devices and medical implants. In recent years, there has been substantial investment in research and development, which has made the region dominant in the nanomaterials market. The market is also driven by other factors, such as the availability of the latest technologies employing nanomaterials. Additionally, the rising investment in nanotechnology research and development has amplified the demand for nanomaterials in the region, thereby driving the nanomaterials market on a growth path across the US and Canada.
The United States has witnessed a continual rise in the use of nanomaterials over the past few years, owing to the increase in demand for electronics products. Moreover, the electronic segment is likely to witness consistent growth during the forecast period due to advanced technology, along with rising demand from consumers. This will influence the demand for nanomaterials for the production of electronic components on a large scale, thereby propelling the nanomaterials market on a positive growth trajectory.
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Europe nanomaterials market is expected to register a y-o-y growth rate of 14.38% and 15.02%, in terms of value and volume respectively, over the period of 2021-2028. Expanding construction industry influencing the use of nanomaterials coupled with technological breakthroughs are facilitating the business scenario in the region. Europe is among the prominent regions pertaining to the use of nanomaterials and is estimated to witness tremendous growth over the forecast period. This growth can be attributed to the decreasing costs of nanomaterials due to rising mass production. Additionally, the growing adoption of nanomaterials in textiles, paints, and electronics is adding to the studied market’s progress. Above all, nanomaterials are gaining traction in the healthcare sector, including in tumor therapies. Hence, as mentioned above, the rising demand for nanomaterials propels the nanomaterials market on a growth path.
On the other hand, the UK has witnessed a substantial rise in the demand for high-end consumer electronics products. Moreover, the country holds a significant share in the electronic design sector. In this regard, presently, the expertise in the sector concentrates on integrated circuits, RFID, and electronic components. This surge in the adoption of electronic products increases the demand for nanomaterials for various applications, thereby driving the nanomaterials market on a positive growth trajectory over the next few years.
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Asia Pacific nanomaterials industry is likely to experience a compound annual growth rate of 14.38% in terms of value and 15.02% in terms of volume between 2021 and 2028. Rising construction activities has led to a high demand for nanomaterials. This coupled with favorable government initiatives are augmenting the market scope in the Asia Pacific. n the Asia-Pacific region, the studied market’s growth is attributed to the high population base, growing in industries, and developing R&D sector. Moreover, the surge in the number of applications is also adding to the market’s progress. Furthermore, the major industrial segments implementing nanomaterials include electronics, coatings, and construction. Besides this, the region has observed a significant expansion in the electrical and electronics segment, with several manufacturers actively participating in expansion plans. Above all, the rapid infrastructural development and availability of a skilled workforce at competitive rates are driving the progression of the nanomaterials market across the APAC region. China, for instance, is investing largely in R&D activities to develop nanotechnology. The nanomaterials regulations in the country have assisted in locating advanced nanomaterials to minimize emissions and develop eco-friendly products. Further, there is a high demand for nanomaterials across various industries, including construction, aerospace, and healthcare. Hence, this rise in demand for nanomaterials will ultimately widen the scope and growth of the nanomaterials market in China.
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According to credible estimates, nanomaterials market share in Latin America is reckoned to witness a y-o-y growth rate of 15.10% in terms of value and 15.75% in terms of volume through 2028. Favorable government initiatives to cater the rising demand for solar components has enhanced the use of nanomaterials, further contributing to the overall market growth. Moreover, increasing demand for electronics and medical components is favoring the market outlook in Latin America. In Latin America, the cosmetics and personal care industry is gaining significant traction. Moreover, cosmetics and personal care is among the growing end-user industries consuming nanomaterials. Other than this, the construction industry is also integrating nanomaterials for various purposes. Hence, the rise in cosmetics and construction industries boosts the development of the nanomaterials market across Latin American nations. BASF is a leading chemical company involved in manufacturing various chemicals, dyes, and other products. It produces several products like dispersions and pigments, nutrition and healthcare chemicals, performance chemicals under the performance products category. Additionally, coating materials, construction chemicals, and others are offered in its functional material and solutions category. BASF has a presence across 80 countries through its subsidiaries and ventures, including in Latin American countries.
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Global Nanomaterials Market by Material Type (Revenue, USD Million, 2021-2028)
Antimony Tin Oxide
Global Nanomaterials Market by End-User Range (Revenue, USD Million, 2021-2028)
Cosmetics and Personal Care
Global Nanomaterials Market Geographical Analysis (Revenue, USD Million, 2021-2028)
Rest of Latin America
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa
Global Nanomaterials Market Competitive Dynamics (Revenue, USD Million, 2021-2028)
Nanophase Technologies Corporation
Raymor Industries Inc.
Nanoco Technologies Ltd.
DuPont de Nemours Inc.
Daikin Industries Ltd.
Showa Denko K. K.
Global Nanomaterials Market Size study, and Regional Forecasts 2021-2027
Global Nanomaterials Market to reach USD 22.68 billion by 2027. Global Nanomaterials Market is valued approximately at USD 9.52 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 13.2% over the forecast period 2021-2027. Nanomaterials are the material with any external dimension that are manufactured and used at very small scale. The global Nanomaterial market is being driven by the increasing technological advancement in medical industry, growth in medical diagnostics industry, and increasing penetration of nanotechnology in various applications. Furthermore, the increasing focus on research concerning to nanomaterials and rising government spending on research and development of biotechnology and pharmaceuticals will provide new opportunities for the global Nanomaterial industry.
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