The global nanomaterials market size is predicted to grow at a significant CAGR from 2024-2032.
Nanomaterials are the particles that can be created from various products such as minerals like silver or carbon. Nanomaterials find application across electronics, automotive, textile, building & construction, and health care & pharmaceutical sectors, among others. These materials are in rising demand owing to their excellent physical properties.
Fortune Business Insights™ provides this information in its upcoming report titled “Nanomaterials Market, 2024-2032”.
Request Sample PDF: https://www.fortunebusinessinsights.com/enquiry/sample/nanomaterials-market-106858
Segmentation:
On the basis of type, the market is divided into carbon-based, metal-based, and polymer-based. Metal-based is further divided into gold, silver, and iron.
Based on the end-use industry, the market is divided into health care and pharmaceuticals, electronics, building and construction, automotive, textile, and energy.
Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
This report covers the synopsis of this market that provides the analysis of the product, impact of COVID-19, segmentation, drivers and restraints, regional insights, new growth, and presence of key players in the market. An in-depth analysis of upcoming opportunities, threats, and driving factors is also mentioned in the report.
Drivers and Restraints:
Surging Demand For Nanotubes and Nanowires to Augment Growth
The surging demand for nanowires and nanotubes is one of the main factors fueling the nanomaterials market growth expansion. It has some distinctive optical, electrical, and magnetic properties. The size of the nanomaterials can neutralize toxins and remediate the environment. One of the materials is carbon nanotubes having properties specific to their bonding arrangement and diameter.
Product adoption is surging on a large scale due to its chemical properties, as it offers many advantages for applications and end-user industries. Nanomaterials are used in microelectronic devices as chip making and so on. The demand for the product is increasing in the healthcare industry because of its properties, such as nontoxicity, biocompatibility, and biodegradability.
The adverse effects of nanomaterials on the environment and human health are anticipated to hamper the market. One of the restraints of nanomaterials is associated with inhalation.
Regional Insights:
Asia Pacific is Anticipated to Show Considerable Growth During 2024-2032
Asia Pacific is expected to dominate the nanomaterials market share during the forecast period. The expansion of the electronics sector is what has caused the shift. The increasing acceptance of nanotubes will boost market expansion in North America. Due to the increase in the automobile industry, Europe is predicted to have moderate growth. By the conclusion of the estimated time, Latin America, the Middle East, and Africa are expected to have lower CAGRs compared to other regions.
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/nanomaterials-market-106858
Competitive Landscape:
Market Players Focus on New Product Launches to Strengthen Market Position
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launching new, technologically-advanced products in the market. Some companies also adopt partnerships, mergers, and acquisitions to strengthen their market position.
Key Industry Development:
- June 2021: G. Chem opened a carbon nanotube facility in South Korea. The original item will be employed in the manufacture of cathode for batteries used in electric vehicle batteries in Korea.
List of key players mentioned in the report:
- American Elements (U.S.)
- Advanced Nano Products (South Korea)
- BASF SE (U.S.)
- ARKEMA Group (U.S.)
- Chasm Technologies Ltd (U.S.)
- Nanoshel LLC (U.S.)
- S. Research Nanomaterials, Inc. (U.S.)
- nanoComposix (U.S.)
- Cabot Corporation (U.S.)
- Glonatech SA