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Nanomaterials Industry Trends: Comprehensive Market Report 2024
Nanomaterials Market Drivers
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According to The Business Research Company's, The nanomaterials market size has grown rapidly in recent years. It will grow from $14.77 billion in 2023 to $17.02 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to increased funding for research and development activities, growing demand for compact and powerful devices, advancements in camera technology, growing demand for high-quality video content, increased adoption of smartphones and other mobile devices.
The nanomaterials market size is expected to see rapid growth in the next few years. It will grow to $30.62 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to growing demand for nanomaterials in drug delivery systems, increasing adoption of nanomaterials in tissue engineering, emerging energy storage solutions, increased aerospace applications, electronics miniaturization. Major trends in the forecast period include advancements in nanotechnology research, advancements in nanotechnology, focus on biocompatibility and biodegradability properties, nanomaterials in 3d printing, collaborative research initiatives, adoption of synthetic and natural polymers in nanofabrication.
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Market Drivers and Trends:
The increase in the usage of nanomaterials in the healthcare industry across the globe is contributing to the growth of the nanomaterials market. Nanomaterials are employed in the healthcare industry to target abnormalities in individual cells and even sub-cells and to boost the action of vaccinations and medicines by easily accessing the body. Hence, the demand for nanomaterials is rising with the increase in the application of nanomaterials in healthcare. For instance, according to the Press Trust of India (PTI), an India-based press company report published in 2021, worldwide, there are around 400 major nanotech companies of which, half of the companies are nanomedicine related. In addition, out of the total 30 to 40 major nanotech companies in India, half are related to healthcare. Therefore, the growing presence and usage of nanomaterials in the healthcare industry are expected to fuel the growth of the nanomaterials market over the forthcoming years.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
BASF SE, Bayer AG, Chasm Technologies Ltd., Cnano Technology, DuPont Air Products Nanomaterials LLC, Elmarco Ltd., Finetex ENE Inc., Glonatech SA, Kuraray Co. Ltd., Nanocyl SA, NanoViricides Inc., Sumitomo Corporation, Showa Denko Materials Co. Ltd., Zyvex Technologies, US Research Nanomaterials Inc., Nanocomposix Inc., Frontier Carbon Corporation, Nanoshel LLC, SkySpring Nanomaterials Inc., Cytodiagnostics Inc., Strem Chemicals Inc., American Elements Corporation, Arkema SA, Taiwan Semiconductor Manufacturing Company Ltd., Thermo Fisher Scientific Inc., Fujitsu Ltd., Altairnano Inc., Nano Magic LLC, Imina Technologies SA, Kleindiek Inc., Advanced Nano Products Co. Ltd., Bruker Corporation, Biosensors International Group Ltd., Espin Technology Inc., Nanonics Imaging Ltd., Vive Crop Protection Inc., Johnson Matthey plc, UP Catalyst Ltd., Liquidia Technologies Inc., Applied Nanodetectors Ltd., EyePoint Pharmaceuticals Inc., Nanoco Group plc, Surrey NanoSystems Ltd., Ilika Technologies Ltd., Nanobiotix SA, DUST Identity Inc., Leia Inc., actnano Inc., Hummingbird Scientific Corporation, Voyant Photonics Inc., Nanotech Systems Ltd., Nanosys Inc., Nanophase Technologies Corporation, Nanogate AG
Nanomaterials Market 2024 Key Insights:
• The nanomaterials market size is expected to see rapid growth in the next few years. It will grow to $30.62 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%.
• Surging Use Of Nanomaterials In Healthcare Industry Drives Nanomaterials Market Growth
• Advancements In Nanoscale Electrolytes Transforming The Nanomaterials Market
• North America was the largest region in the nanomaterials market in 2023
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