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Nanomaterials Market Trends

ID: MRFR//6344-HCR | 140 Pages | Author: Chitranshi Jaiswal| July 2024

Global Nanomaterials Market Overview


Nanomaterials Market Size was valued at USD 21.80 billion in 2023. The nanomaterials industry is projected to grow from USD 26.16 Billion in 2024 to USD 93.90 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.32% during the forecast period (2024 - 2032). The growing use of nanomaterials in the healthcare industry and the growing use of nanomaterials in the wastewater treatment industry are the key market drivers enhancing market growth.Nanomaterials MarketSource: Secondary Research, Primary Research, MRFR Database and Analyst Review


Nanomaterials Market Trends




  • 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.


Nanomaterials Market Segment Insights


Nanomaterials Material Type Insights


The nanomaterials market segmentation, based on material type includes metal and non-metal oxides, carbon-based, chemicals & polymers. Carbon based nanomaterialshad the largest market share in 2021. This is mostly due to its widespread use in lithium-ion batteries, and it has been extensively absorbed in the production of supercapacitor electrodes. Because of their excellent thermal conductivity and relatively large surface area, these tubes are also utilized as catalysts for electrode support in PEM fuel cells. Titanium dioxide nanoparticles are expected to witness a significant increase in demand due to their ability to inhibit bacterial proliferation and prevent the production of new cell structures. The segment is likely to generate significant revenue by 2032, with a large increase expected during the forecast period.


Figure1: Nanomaterials Market, by Material Type, 2022 & 2032 (USD billion)Nanomaterials Market, by Material Type, 2022 & 2032Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Nanomaterials Application Insights


The nanomaterials market segmentation, based on application, includes transportation, construction, packaging, consumer goods, electrical & electronics. In 2022, the electrical & electronics category dominated the nanomaterials market, accounting for more than 21% of the total. Nanomaterials are widely employed in the computing and electronics industries because to their benefits. These are used in the fabrication of a variety of electronics devices as well as electronic circuits. These are used in optics, graphene electrodes, display devices, and nanoelectronics, among other things. According to the Semiconductor Industry Association, the worldwide semiconductor industry's sales in 2020 were $439 billion, a 6.5% rise over 2022. As a result, the expansion of the electronics and semiconductor industries is fueling the expansion of the Nanomaterials market.


Nanomaterials Regional Insights


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 (%) NANOMATERIALS MARKET SHARE BY REGION 2022Source: Secondary Research, Primary Research, MRFR 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.


Nanomaterials Key Market Players & Competitive Insights


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.


Key Companies in the nanomaterials market include



Nanomaterials Industry Developments


In November 2022, American Elements has introduced a revolutionary nanoscale electrolyte material that will be used in lithium-ion batteries. The electrolyte is an energy-dense ceramic composition containing lithium, lanthanum, and zirconium oxide nanoparticles.


In August 2020, Henkel Adhesive Technologies (Henkel AG & Co. KGaA) and CHASM Advanced Materials Inc. have formed a strategic alliance. Henkel has certified and will sell one of CHASM's patented Carbon Nanotube (CNT) inks under the LOCTITE brand. LOCTITE ECI 5006 E&C is a carbon nanotube (CNT) ink designed for screen printing transparent conductors on a variety of plastic films made with CHASM's patented V2V technology.


In September 2020, Birla Carbon, a leading manufacturer and supplier of carbon black, and CHASM Advanced Materials Inc., a developer and manufacturer of advanced proprietary materials hybridized at the nanoscale, have expanded their 2019 joint development agreement into a strategic partnership to commercialize novel nanomaterials to benefit various market segments such as high-performance tires, conductive plastics, novel coatings, and next-generation batteries.


Nanomaterials Market Segmentation


Nanomaterials Market Material Type Outlook




  • and Non- Oxides




  • Carbon-based




  • Chemicals & Polymers




Nanomaterials Market Application Outlook




  • Transportation




  • Construction




  • Packaging




  • Consumer Goods




  • Electrical & Electronics




Nanomaterials Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





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