The Global Nanomaterials Market is estimated to be valued at US$ 12.57 Bn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nanomaterials are nanoscale materials having at least one dimension less than 100 nanometers. They present properties which are not exhibited at larger scale due to quantum and surface/volume effects. They find applications in several industries including energy, electronics, biomedical etc. due to their unique properties.
Market key trends:
One of the key trends in the nanomaterials market is rising application of graphene in electronics. Graphene has conductivity hundred times better than copper and higher surface area for energy storage applications. Electron mobility in graphene is hundred times higher than silicon. This has led to increased research and development of flexible/wearable electronics and next generation batteries using graphene.
Segment Analysis
The global nanomaterials market is segmented by product into carbon-based, metallic, ceramic, polymer, and others. Among them, the carbon-based segment holds the major share due to growing usage of carbon nanotubes and graphene in various industries such as aerospace, electronics, energy, healthcare, automotive, and others. Carbon-based nanomaterials exhibit strong strength and high heat conduction properties which increases its adoption in major industries.
Key Takeaways:
The Global Nanomaterials Market is expected to witness high growth, exhibiting a CAGR of 14.% over the forecast period, due to increasing demand from industries such as electronics, energy, aerospace, healthcare, automotive, and others.
Regional analysis: North America holds the major share in the global market due to high adoption of nanotechnologies in major end-use industries in countries such as the US and Canada. Asia Pacific is expected to grow at the fastest pace during the forecast period owing to increasing investments by governments and companies in China, Japan, and South Korea toward R&D of nanotechnologies and nanomaterials.
Key players: Key players operating in the nanomaterials market are ACS Material, American Elements, Arkema Group, BASF SE, Cabot Corporation, CHASM Advanced Materials Inc., Chengdu Organic Chemicals Co. Ltd (Timesnano), Jiangsu Cnano Technology Co. Ltd, LG Chem, Nano-C, Nanocyl SA, Nanophase Technologies Corporation, OCSiAl, Raymor Industries Inc., Showa Denko K.K., And Zyvex Technologies. BASF SE and Cabot Corporation hold a major market share due to their extensive product portfolio and global presence across major markets.
Read More - https://www.marketwebjournal.com/developing-nanotechnologies-to-drive-growth-of-the-nanomaterials-market/
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