The global nanomaterials market is expected to attain a valuation of USD 12.6 billion in 2023 and is projected to reach USD 51.5 billion by 2033, trailing a CAGR of 15.1 % during the forecast period.
Nanomaterials are nanometer-scale structures with at least one dimension of fewer than 100 nanometers. Nanomaterials are classed as zero-dimensional, one-dimensional, two-dimensional, or three-dimensional. Nanoparticles are zero-dimensional nanomaterials that can be amorphous or crystalline and come in a variety of shapes and sizes.
Nanotubes, nanorods, and nanowires are examples of one-dimensional nanomaterials. Nanofilms, nanolayers, and nano-coatings are examples of two-dimensional nanomaterials with plate-like structures. Two-dimensional nanoparticles may be manufactured from a variety of chemical compounds and incorporated into a matrix material.
Three-dimensional nanomaterials are bulk nanomaterials with three arbitrarily large dimensions exceeding 100 nm. They contain nanoparticle dispersions, nanowire bundles, and nanotubes.
Nanomaterials have a variety of qualities such as high strength, hardness, elasticity, electric conductivity, antibacterial and self-cleaning, scratch resistance, and chemical resistance, which makes them increasingly useful in a wide range of applications. Furthermore, there are some commercial applications of nanoscale materials, which include:
| Attributes | Details |
|---|---|
| Expected Market Value (2023) | USD 12.6 billion |
| Anticipated Forecast Value (2033) | USD 51.5 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 15.1% |
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The nanomaterials market was worth USD 7.4 billion in 2018. It accumulated a market value of USD 11 billion in 2022 while exhibiting a CAGR of 10.4% in the historical period.
The demand for nanomaterials is expected to rise due to the aging population, advancements in technology, and a rise in chronic illnesses worldwide. Furthermore, the market is expected to benefit from the increasing prevalence of cardiovascular disorders thanks to the progress made in electrocardiographic technology.
The global medical sector is adapting its research and product development strategies to incorporate recent breakthroughs in nanoparticle advancements. Moreover, the industry is poised to benefit from the growing desire to improve average life expectancy and the availability of cost-effective diagnostic programs offered by private companies. This trend is expected to drive the demand for medical devices and support the nanomaterials industry.
Nanotechnology is experiencing significant growth due to its increasing involvement in a wide range of potential applications. The field of nanotechnology encompasses three subfields such as nanotools, nanomaterials, and nanodevices.
Nanotechnology has the potential to benefit numerous sectors, with its diverse applications, thereby accelerating the expansion of the nanoparticles market in the foreseeable future. This technology finds applications in various fields such as electronics, healthcare, defense, agriculture, and energy.
Factors such as increased funding for research and development activities in both the public and private sectors, technical partnerships, and the growing demand for compact and powerful devices at affordable prices contribute to the substantial growth of the nanotechnology market.
During the projected period, the increased demand for nanomaterials in the electronics sector is likely to be the primary factor driving worldwide market growth. Because of their high aspect ratio, notable mobility, high surface-to-volume ratio, and capacity to integrate on non-conventional substrates, nanomaterials such as nanowires, nanotubes, graphene, and cellulosic nanomaterials are utilized to produce various forms of flexible electronics.
The flexible nanomaterials market is likely to rise significantly throughout the review period, resulting in increased demand for nanomaterials in the forthcoming years. Furthermore, increased research and development to produce new nanomaterials is likely to drive worldwide market growth.
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Factors such as the predicted increase in several people exposed to these nanoparticles, occupational exposure, and the expected evolution of potentially detrimental consequences in the coming years are likely to prompt the establishment of stricter laws. As a result, the predicted incremental stringency in nanomaterials and nanotechnology regulations is expected to provide a hurdle to industrial expansion in the future.
Asia Pacific is expected to dominate the nanomaterials market, accounting for 36.8% of total revenue in 2023. The demand for nanomaterials in the region is projected to rise with an impressive CAGR of 15.8% during the forecast period.
The increasing usage of nanomaterials in electronics, medical equipment, aerospace and military, textiles, and automotive sectors can be contributed to the rise. This is mostly due to ongoing research and development, as well as increased investment in China and Japan for the development of nanomaterials.
There is increased investment by organizations in research and development in the region, and government backing, among other factors because of the growing demand for nanotechnology. For example,
The growing need for specialty materials in the area, as well as quickly developing industries such as energy, healthcare, and construction, among others, in countries such as China and India, are propelling the expansion of the nanomaterials market. Further, Japan leads Asia Pacific nanomaterials market, followed by China, India, and South Korea. This can be linked to Japan's status as a technical powerhouse with the large per capita use of electronic devices.
According to Future Market Insights, the market in Europe is predicted to reach USD 4.8 billion by 2033, thanks to national government backing and investment in the region's various local markets. The regional market is expected to witness a CAGR of 14.7% during the forecast period, whereas the demand for nanomaterials in the United Kingdom is anticipated to rise with a CAGR of 15.3% during the forecast period.
The European Commission developed the 2D-Experimental Pilot Line (2D-EPL), a new USD 23.0 million joint project, to investigate the manufacture of breakthrough electrical devices, photonic devices, and sensors that incorporate graphene and layered nanomaterials in the region.
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Carbon-Based Nanotubes Driving Market Growth with a Significant CAGR
In 2022, the carbon nanotubes segment dominated the market with a 48% market share. The carbon-based nanomaterials are expected to generate demand with a CAGR of 17.4% during the forecast period. This can be attributed to its widespread use in lithium-ion batteries and its extensive application in manufacturing supercapacitor electrodes.
Additionally, these tubes are utilized as catalysts for electrode support in PEM fuel cells, benefiting from their high thermal conductivity and comparably large surface area.
Titanium dioxide nanoparticles, known for their ability to inhibit bacterial growth and prevent the formation of new cell structures, are predicted to experience a substantial surge in demand. It is anticipated that by 2028, this segment might generate significant revenue, with considerable growth expected throughout the forecast period.
Healthcare Segment Fuelling Market Growth with a Significant CAGR
The healthcare application sector held a significant share in 2022 and is projected to expand significantly due to its wide range of applications, including imaging, targeted medication administration, nanorobots for surgery, nano diagnostics, cell healing, and nano biosensors.
In 2022, the healthcare application segment accounted for a significant share of around 30.7% of global revenue, making it a notably growing market. The segment is projected to expand with a significant CAGR of 19% during the forecast period. This growth can be attributed to the widespread adoption of nanomaterials in the treatment of cancer and other malignant tumors, demonstrating a high level of market penetration.
Nanomaterials play a vital role in various medical tasks, including imaging, targeted drug delivery, nanorobotic surgeries, nano diagnostics, cell repair, and nano biosensors.
The demand for nanomaterials is expected to remain high due to their use as T2 contrast agents in MRI scans, leveraging their superparamagnetic behavior at room temperature. Additionally, nanoparticles are utilized as gene carriers in gene therapy and play a significant role in the body's detoxification processes.
Start-ups have a crucial role in recognizing growth prospects and driving industry expansion. Their proficiency in transforming inputs into outputs and adapting to market uncertainties is valuable. In the nanomaterials market, several start-ups are engaged in manufacturing and providing related services.
The market for nanomaterials is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players in the market are BASF, EMFUTUR Technologies, Evonik Industries, Sigma-Aldrich Co. LLC, Bayer AG, SkySpring Nanomaterials, Altair Nanotechnologies Inc., NANOCO TECHNOLOGIES LIMITED, and LG CHEM, NANOCYL S.A.
Recent Developments in the Nanomaterials Market
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 12.6 billion |
| Market Value in 2033 | USD 51.5 billion |
| Growth Rate | CAGR of 15.1% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By product, By application, By region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Countries Profiled | The United States of America, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, India, China, Japan, Malaysia, Singapore, Thailand, South Korea, Australia, New Zealand, South Africa, Israel |
| Key Companies Profiled | BASF; EMFUTUR Technologies; Evonik Industries; Sigma-Aldrich Co. LLC; Bayer AG; SkySpring Nanomaterials; Altair Nanotechnologies Inc.; NANOCO TECHNOLOGIES LIMITED; LG CHEM; NANOCYL S.A. |
| Customization | Available Upon Request |
The market is projected to reach USD 51.5 billion by 2033.
Key industry players include BASF, Evonik Industries, and LG CHEM.
The carbon-based nanotubes segment is driving growth with a significant CAGR of 17.4% through 2033.
Growth is driven by increasing usage in electronics and healthcare to produce new nanomaterials.
China, Japan, India, and South Korea are emerging as an opportunistic market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Carbon-Based 5.2. Metal-Based 5.3. Dendrimers-based 5.4. Composite Segments 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Transportation 6.2. Electrical & Electronics 6.3. Healthcare 6.4. Construction 6.5. Packaging 6.6. Consumer Goods 6.7. Energy 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. BASF 17.2. EMFUTUR Technologies 17.3. Evonik Industries 17.4. Sigma-Aldrich Co. LLC 17.5. Bayer AG 17.6. SkySpring Nanomaterials 17.7. Altair Nanotechnologies Inc. 17.8. NANOCO TECHNOLOGIES LIMITED 17.9. LG CHEM 17.10. NANOCYL S.A. 18. Assumptions & Acronyms Used 19. Research Methodology
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