The global nanoscale chemicals market is expected to reach a valuation of US$ 11.84 billion by 2032. The market is expected to surge at a CAGR of 9% during the forecast period, and as of 2022, the market is valued at US$ 5 billion.
The demand for innovative and technologically evolved products, coupled with the growth of the electrical and electronics industry, is expected to surge the sales of the nanoscale chemical during the forecast period, as nanoscale electronics are known to increase the efficiency of systems.
Apart from that, rapid urbanization, which is expected to bring around technological advancements, is expected to surge the demand for nanoscale chemicals during the forecast period.
Moreover, a burgeoning global construction sector is expected to further propel the adoption of nanoscale chemicals during the forecast period. These are mainly employed in construction activities to enhance the material properties which are used for construction.
Nanoscale chemicals are being increasingly employed in the manufacturing sector as well. The Department of Material Science and Engineering (DMSE) of MIT has developed 2D molecules that spontaneously assemble nanoribbons that are stronger than steel, which makes the nanoscale manufacturing process an extremely useful step toward developing robust products.
Moreover, the application of nanoscale chemicals also ensures that the weight of the product is reduced. Apart from that, their usage also ensures that power consumption is drastically reduced. This is expected to surge the nanoscale chemicals market share.
Nanoscale chemicals are also known to fight against cancer cells, as a result of which they have started finding increased applications across the medical sector.
Apart from that, nanoscale chemicals are also increasingly used in the energy sector. They play an effective role in the development of energy-producing, energy-absorbing, and energy-storage products. Owing to this, these are increasingly used for the manufacturing of batteries, fuel cells, and solar cells, which might well expand the nanoscale chemicals market.
Furthermore, stringent regulations pertaining to power consumption across the globe are expected to further increase the market share of nanoscale chemicals during the forecast period.
However, low awareness about the benefits offered by nanoscale chemicals in developing and underdeveloped nations are expected to hinder the market growth during the forecast period.
Moreover, as the size of the materials associated with these chemicals is extremely small, problems related to breathing may arise with prolonged exposure.
Based on the region, North America is expected to be the largest nanoscale chemicals market during the forecast period. A booming medical sector where nanoscale chemicals have a wide application is one of the key factors which makes North America the largest market. Apart from that, the region is also home to some of the finest nanotechnology institutes, which makes it a hot market.
Europe is expected to be one of the most significant markets of nanoscale chemicals owing to the proactive steps taken by various authorities to develop nanotechnology solutions.
Asia Pacific, on the other hand, is expected to be the fastest-growing market. Thanks to the rapidly growing construction sector and an increase in disposable income, which makes the region is the place to watch out for. Moreover, rapid technological advancements, coupled with the increased investment made by the governments for general safety, are anticipated to further expedite market growth.
| Attributes | Value |
|---|---|
| Nanoscale Chemicals Market Value (2022) | US$ 5 billion |
| Nanoscale Chemicals Market Forecast Value (2032) | US$ 11.84 billion |
| Nanoscale Chemicals Market Expected CAGR (2022 to 2032) | 9% |
Nano means one billionth part of actual thing. For instance, the size of the single strand of DNA is about three nanometers. Scientists use specialized equipment to observe the nano objects or structures. As the size of the nanostructures is small, the specialized methods are implemented to manufacture nano objects.
The study of materials and structures on the scale of nanometers is called as Nanoscience. Nanoscience principles are widely used by engineers and scientists from various disciplines such as biology, chemistry, material science and physics.
The development in the nanoscience is helping nanoscale products manufacturers to innovate the products with respect to the technology. There are different types of nano materials such as precipitated silica, colloidal silica, aluminum oxide, silica gel, fumed silica and barium titanate.
The demand for nanoscale products such as nanoscale computers, electronics, machines and nano based medical curers is rising across the globe, due to growing urbanization and change in consumer preferences.
Nanoscale chemical industry players are constantly investing in the research and development for the latest and innovative technologies in the nanoscale market. The latest innovations in nanoscience is stain?resistant fabric. In future, the development in the nanoscience is expected to lead to macroscopic systems from atomic assembly & individual nanodevices.
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The global economy is expected to improve gradually over the forecast period. As the global economy improves, the per capita income is also expected to increase.
The demand for innovative and technologically advanced products is expected to propel due to increase per capita income. The growth in the electronic and electric industry is also expected to fuel the global nanoscale chemicals market during the forecast period.
The consumer preferences are changing globally, due to which there is a rise in the demand for the nanoscale materials and products. As the demand for the nanoscale electronic and electrical devices is increasing the usage of the nanoscale chemicals and materials is growing as well.
The rising demand for the nanoscale device is expected to drive the growth of the global nanoscale chemicals market. Globally, the population is growing at a rapid speed, according to the United Nations (UN), 54% of the world’s population lives in urban areas, and the percentage contribution of urban population is expected to grow to 66% by the end of 2050.
The total number of people living in the urban areas is expected to reach to 2.5 billion by the end of 2050 due to rapid urbanization and growing population. The rapid urbanization is expected to propel the market of the global nanoscale chemicals during the forecast period.
The nanoscale materials market is further expected to grow due to the expected growth in the construction industry, as nanoscale materials are widely used in the construction industry to enhance the material properties.
Nanoscale materials also help construction industry to conserve energy during the construction activities. Nanoscale materials/chemicals are also widely used in the medical industry, and expected growth in the medical industry is expected to augment the growth in the global nanoscale chemicals market over the forecast period.
Though, the importance of the nanoscale materials/chemicals is on the rise in developed economies, they have low awareness among underdeveloped or developing countries and this is inhibiting the growth for the global nancoscale chemicals market.
The global nanoscale chemicals market by value is expected to expand at a CAGR of around 10-12% during the forecast period (2015-2025), due to increasing demand from industries such as medical, construction and electronics & electrical and growing urbanization.
Principal Consultant
The global nanoscale chemicals market is expectedto register a double-digit CAGR for the forecast period. Depending on geographic regions, global nanoscale chemicals market is segmentedinto seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa.
terms of market revenue, North America nanoscale chemicals market is projectedto register a significant CAGR during the forecast period. Growing urbanization, growth in the industries such as medical, electronics & electrical, changing consumer preferences are fueling the growth of nanoscale chemicals market in North America.
Stringent government regulations in North America are also responsible for promoting the usage of nanoscale chemicals in the construction industries. Asia Pacific Excluding Japan is forecast to register a significant growth in the global nanoscale chemicals market, due to the growing construction industry.
Some of the key market participants in global nanoscale chemicals market are Qinhuangdao Taiji Ring Nano-Products Co., Ltd., NanoMas Technologies, Akzo Nobel/Eka, BASF, Tokuyama, Nanophase technologies, Altair Nanotechnologies, Carbon Nanotechnologies and Advanced Nano Products.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to categories such as market segments by geographies and by end-use industries.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global nanoscale chemicals market can be segmented by end-use industry, by material type, and by regions
The market is likely to register a CAGR of 9% through 2032.
The market is currently valued at US$ 5 Bn in 2022.
The market is likely to grow to a valuation of US$ 11.84 Bn by 2032
North America is likely to be a leading market during the forecast period.
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