Nanomaterials Market

Rising use in the automotive industry drives market growth

The market CAGR for nanoparticles is being driven by their rising application in the automobile industry for creating and producing car interiors and exteriors due to their superior mechanical properties and lightweight. The product is commonly used in automobiles to reduce aluminum engine weight, improve grip, and reduce rolling resistance, as well as in lithium-ion batteries to shorten charging time, boost tensile strength, and reduce vehicle weight. These factors are propelling the worldwide nanomaterials market. Nanomaterials are also employed in aerospace applications such as coatings, cockpits, crew equipment, space durable mirrors, nozzles, equipment enclosures, aircraft interiors, and solar array substrates.

Additionally, nnomaterials are widely employed in medicine and pharmaceuticals for sensitive detection of essential biological molecules, more precise and safer imaging of sick tissues, and innovative forms of treatments due to their electrical, optical, mechanical, and chemical capabilities. Some carbon nanomaterials-based therapeutic and diagnostic agents have been developed for the treatment of asthma, pain, allergy, cancer, diabetes, and infections; these factors are projected to drive market expansion over the projection period.

Furthermore, the increasing prevalence of water-borne disease due to a lack of fresh water is expected to drive market growth. According to the World Health Organization, more than 2 billion people live in water-stressed countries, a situation that is expected to worsen in some regions due to climate change and population growth. At least 2 billion people worldwide drink water contaminated with faeces. The greatest threat to drinking-water safety is microbial contamination caused by contamination with faces.

For instance, researchers at Michigan University created 3D printed nanocomposite polymeric ink using carbon nanotubes, which are lightweight and have a high tensile strength. This ink has the potential to replace epoxies and could be widely used for various purposes.

The Global Nanomaterials Market Industry is experiencing a surge in demand driven by the electronics sector. With the increasing miniaturization of electronic devices, nanomaterials are being utilized to enhance performance and efficiency. For instance, nanostructured materials are pivotal in the development of advanced semiconductors and displays. The market is projected to reach 26.2 USD Billion in 2024, reflecting the growing reliance on nanotechnology in electronics. This trend is likely to continue as innovations in nanomaterials lead to lighter, more efficient devices, thereby propelling the Global Nanomaterials Market Industry further.

Government initiatives and funding play a crucial role in the growth of the Global Nanomaterials Market Industry. Various governments are investing in research and development to foster innovation in nanotechnology. For example, funding programs aimed at supporting nanomaterials research can lead to breakthroughs that enhance their application across multiple sectors. This support is likely to stimulate market growth, as evidenced by the projected CAGR of 17.32% from 2025 to 2035. Such initiatives indicate a commitment to advancing the Global Nanomaterials Market Industry, ensuring its relevance in future technological advancements.

The Global Nanomaterials Market Industry is significantly influenced by advancements in healthcare applications. Nanomaterials are increasingly being integrated into drug delivery systems, diagnostics, and imaging technologies. For example, nanoparticles are utilized to improve the bioavailability of drugs, allowing for targeted therapy with fewer side effects. The healthcare sector's growing investment in nanotechnology is expected to contribute to the market's expansion, with projections indicating a rise to 151.6 USD Billion by 2035. This indicates a robust growth trajectory, as the Global Nanomaterials Market Industry adapts to the evolving needs of healthcare.

The Global Nanomaterials Market Industry is poised for growth due to emerging applications in energy storage technologies. Nanomaterials are being explored for their potential to enhance battery performance, particularly in lithium-ion and solid-state batteries. These advancements could lead to batteries with higher energy densities and faster charging times, addressing the growing demand for efficient energy storage solutions. As the world shifts towards renewable energy sources, the integration of nanomaterials in energy storage systems is likely to become increasingly important, further driving the expansion of the Global Nanomaterials Market Industry.

Sustainability concerns are driving the Global Nanomaterials Market Industry as industries seek eco-friendly solutions. Nanomaterials offer potential benefits such as reduced material usage and enhanced energy efficiency. For instance, nanostructured catalysts can improve the efficiency of chemical processes, leading to lower emissions. The push for sustainable practices is likely to enhance the adoption of nanomaterials across various sectors, including energy and manufacturing. This trend aligns with global efforts to reduce environmental impact, suggesting that the Global Nanomaterials Market Industry may witness substantial growth as sustainability becomes a priority.

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific dominated with a market share of 37.49% in 2022 and is predicted to be the fastest growing region with a CAGR of 17.6% over the forecast period, owing to the expanding semiconductor manufacturing industry and increased product penetration. Furthermore, the region's significant growth in the electronics, medical equipment, aerospace and defense, textiles, and automotive industries is likely to stimulate demand for nanomaterials.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: NANOMATERIALS MARKET SHARE BY REGION 2022 (%) Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe’s nanomaterials market accounts for the second-largest market share due to an increase in the senior population, as well as an increase in severe chronic conditions such as cardiovascular disease, diabetes, and cancer. Further, the German nanomaterials market held the largest market share, and the UK nanomaterials market was the fastest-growing market in the European region

The North America Nanomaterials Market is expected to grow at the fastest CAGR from 2023 to 2032. This is Due to the growing demand for technology, the various organizations are boosting their investments on research and development which is exponentially driving the market in countries. Moreover, China’s nanomaterials market held the largest market share, and the Indian nanomaterials market was the fastest-growing market in the North American region.

Leading market players are extensively investing in research and development in order to extend their product lines, which will help the nanomaterials market grow even further. Market participants are also engaging in a number of strategic initiatives to grow their worldwide presence, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. To grow and survive in a more competitive and increasing market environment, the nanomaterials industry must provide cost-effective products.

Manufacturing locally to reduce operational costs is one of the primary business strategies utilized by manufacturers in the nanomaterials industry to serve clients and expand the market sector. In recent years, the nanomaterials industry has provided some of the most significant benefits to medicine. Major players in the nanomaterials market, such as Arkema Group (France), Evonik Industries AG (Germany), Hongwu International Group Lid (China), SHOWA DENKO KK (Japan), and others, are seeking to raise market demand by investing in research and development operations.

Cabot Corporation is a specialized chemicals and performance materials firm based in Boston, Massachusetts. With 36 manufacturing factories, eight research and development facilities, and 28 sales offices, the corporation works in over 20 countries. Cabot Corporation was created in 1882 by Godfrey Lowell Cabot, who submitted for a patent for a "carbon black making apparatus."[citation required] In 1960, the firm was formed in the state of Delaware. In March 2021, Cabot Corporation has introduced the ENERMAX 6 series of carbon nanotubes (CNTs). The ENERMAX 6 carbon nanotube products are the company's most recent advancement in high-performance CNTs.

It has proven to be Cabot's most effective conductive multi-wall CNT product.

OCSiAl is a nanotechnology corporation and the world's largest graphene nanotube maker, with operations all around the world. The headquarters of OCSiAl are in Luxembourg, with operations in the United States, Europe, and Asia. OCSiAl owns the only scalable technique capable of producing industrial-scale graphene nanotubes (also known as single wall carbon nanotubes - SWCNTs). The method is significant for its ability to produce SWCNTs in high enough quantities (tonnes) to enable low enough pricing for industrial applications to become economically viable.

In March 2021, OCSiAl established one of the world's cleanest facilities for the manufacturing of dispersed graphene nanotubes for lithium-ion batteries. Graphene nanotubes are now the sole cost-effective solution on the market to the silicon anode deterioration problem. The newly opened plant establishes a new level of safety: the entire production process, including the completed product distributed packaging area and the quality control area, has been created for clean room class.