Nanomaterials Market Forecasts to 2028 – Global Analysis By Product (Antimony Tin Oxide, Aluminum Oxide and Other Products), Application (Automotive, Aerospace and Other Applications) and Geography

Nanomaterials Market Forecasts to 2028 – Global Analysis By Product (Antimony Tin Oxide, Aluminum Oxide and Other Products), Application (Automotive, Aerospace and Other Applications) and Geography

According to Stratistics MRC, the Global Nanomaterials Market is accounted for $10.9 billion in 2022 and is expected to reach $28.01 billion by 2028 growing at a CAGR of 16.9% during the forecast period. Nanomaterials are substances with at least one spatial dimension and a size ranging from 1 to 100 nanometers, and they can be manufactured with a variety of modulation dimensionalities. Individual nanostructures include atomic clusters, quantum dots, nanocrystals, nanowires, and nanotubes. Collections include arrays, assemblages, and superlattices made up of diverse nanostructures. The physical and chemical properties of bulk or atomic-molecular materials with the same composition may differ dramatically from those of nanoparticles. The uniqueness of nanostructures' structural properties, responses, dynamics, chemistry, and energetics is the foundation of nanoscience.

According to the Press Trust of India (PTI), an India-based press company report published in 2021, worldwide, there are around 400 major nanotech companies of which, half of the companies are nanomedicine related.

Market Dynamics:

Driver:

Rapid technological progress in the medical sector

The global medical business is predicted to develop as a result of various factors, including a rapidly ageing population, technological advancements, and an increase in the prevalence of chronic illnesses globally. Furthermore, a surge in cardiovascular problems is expected to help the market as a result of developments in electrocardiographic technologies. Based on recent nanoparticle developments, the worldwide medical sector is restructuring its research and resulting products. Furthermore, the aim to increase the average life expectancy of the population, as well as the cost-effective diagnostic programmes given by private enterprises, is expected to benefit demand for medical equipment and support the nanomaterials sector.

Restraint:

Toxicity assessment of nanomaterials

One of the most pressing concerns confronting the industry is the toxicological examination of nanoparticles. Because of increased nanoparticle research and production, there is a greater need for more reliable and consistent approaches for assessing the toxicity of nanoparticles under varied exposure, biological, and dose settings. The use of animal experiments as a test subject makes understanding how the product impacts the human body difficult. Because the nanoparticles must be coated with other materials and cannot be injected directly into the human body, the production procedure is labour-intensive, and the cost of the finished product rises. When it comes to products that use nanoparticles, regulations are critical.

Opportunity:

Growing applications in different sectors

Nanotechnology is rapidly expanding due to its use in an increasing number of possible applications. Nanotools, nanomaterials, and nanodevices are the three subfields of nanotechnology. Numerous sectors stand to gain from the technology's broad range of applications, which is projected to propel the growth of the nanoparticles market throughout the forecast period. Nanotechnology offers a wide range of uses, including electronics, healthcare, defence, agriculture, and energy. The nanotechnology industry is increasing rapidly due to factors such as increased funding for R&D activities in the public and private sectors, technical collaborations, and rising demand for powerful and small gadgets at reasonable prices.

Threat:

Lack of knowledge

Lack of understanding about the product's features, applications, and risks is a key obstacle to market expansion, limiting the growth of the nanoparticle sector. Nanoparticle characterisation methodologies and properties are expected to provide industry concerns. It is critical to validate and comprehend a nanoparticle's physio-chemical, size, and shape characteristics throughout the life cycle of a product.

Covid-19 Impact

The COVID-19 pandemic has had an impact on global imports and exports of a variety of items. Several governments have imposed export restrictions that have a significant impact on supplies. Furthermore, nanomaterial manufacturers have issues obtaining raw ingredients, causing shipment delays to clients. Due to lockdown during the COVID-19 pandemic in 2020, demand for nanomaterials has dropped from its end user businesses. Nonetheless, a number of R&D groups are developing new potential applications for nanoparticles in the detection, prevention, and treatment of COVID-19 and other viral diseases, which is driving up demand for nanomaterials beginning in 2021.

The Gold (Au) segment is expected to be the largest during the forecast period

The Gold (Au) segment is estimated to have a lucrative growth, due to its adaptability and utilization in medicinal, chemical and nanoelectronic applications. Gold nanoparticles' optical and electronic properties are being extensively researched for usage in high-tech products like therapeutics, electronic conductors, and sensory probes. They are anticipated to be used for drug administration in biological and medicinal applications and organic photovoltaics. Due to their high density, gold nanoparticles can be utilized as transmission electron microscopy probes. These nanomaterials can be employed for medical applications such as photothermal therapy (PTT), medicine, and gene transfer by altering their inherent properties, such as their optical, electrical, and physicochemical qualities.

The medical segment is expected to have the highest CAGR during the forecast period

The medical segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the high penetration of the product for use in the treatment of cancer and other malignant tumors. Additionally, nanomaterials are employed in the medical sector for a variety of specific activities such as imaging, targeted medication administration, nanorobots for surgery, nano diagnostics, cell repair, and nano biosensors. Furthermore, the product's superparamagnetic characteristics at ambient temperature make it sound like a T2 contrast agent in MRIs. Before being injected into the human body, magnetite nanoparticles are coated with various polymers such as carboxylate, hydroxyl, styrene, carboxyl, and vinyl alcohol groups. Bioactive materials, such as therapeutic medicines, are becoming more common in the biomedical business.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the region's robust expansion in the electronics, medical equipment, aerospace and military, textiles, and automotive industries. Several multinational firms are investing in the nanomaterials market. Birla Carbon, a significant global supplier of carbon black, and CHASM Innovative Materials, Inc., a leading developer and manufacturer of advanced proprietary materials hybridised at the nanoscale, for example, forged a strategic collaboration in September 2020 to commercialise unique nanomaterials for high-performance tyres, conductive plastics, novel coatings, and next-generation batteries. As a result of these market participants' investments, the regional nanomaterials sector is growing.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the growing penetration of products in various application industries. Furthermore, continuous efforts in nanomaterials and nanotechnology R&D to uncover further applications in various end-use industries are expected to fuel the regional market throughout the projection period. The nanomaterials market in Canada is estimated to rise during the forecast period due to the increasing development of boron nitride nanotubes (BNNT) activities in the country. It is also a world leader in the manufacture of cellulosic nanomaterials.

Key players in the market

Some of the key players profiled in the Nanomaterials Market include American Elements, Cytodiagnostics, Inc., Frontier Carbon Corporation, Nanocomposix, Inc., Nanoshel LLC, Nanophase Technologies Corporation, Quantum Materials Corp., SkySpring Nanomaterials, Inc., Strem Chemicals, Inc. and US Research Nanomaterials, Inc.

Key Developments:

In November 2022, American Elements launched a novel nanoscale electrolyte material that will be used in lithium-ion batteries. The electrolyte is an energy-dense and ceramic compound of lithium, lanthanum, and zirconium oxide nanoparticles.

Products Covered:
• Antimony Tin Oxide
• Aluminum Oxide
• Bismuth Oxide
• Carbon Nanotubes
• Gold (Au)
• Iron (Fe)
• Nickel (Ni)
• Titanium (Ti)
• Copper (Cu)
• Silver (Ag)
• Platinum (Pt)
• Other Products

Applications Covered:
• Automotive
• Aerospace
• Energy & power
• Paints & Coatings
• Electronics
• Medical
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements