Press release
Global Nanotechnology In Energy Applications Industry Outlook 2025-2029: Market Set to Cross $18.84 Billion Milestone
Nanotechnology In Energy Applications
What Will the Nanotechnology In Energy Applications Industry Market Size Be by 2025?
The market for nanotechnology applied in energy usage has expanded dramatically in previous years. The growth trajectory suggests a surge from $10.09 billion in 2024 to $11.62 billion in 2025, with a compound annual growth rate (CAGR) of 15.1%. Factors contributing to this growth during the historical period include the introduction of novel nanomaterials, swift acceptance by research establishments, revolutionary applications of nanotech in energy, the generation of preliminary nanodevices, and initial government investments in nanotechnology.
What's the Long-Term Growth Forecast for the Nanotechnology In Energy Applications Market Size Through 2029?
The market size for nanotechnology in energy applications is set to witness significant expansion in the upcoming years. It is projected to surge to $18.84 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.9%. This impending growth during the forecast period is largely due to the maturation of nanotech materials, increased regulatory backing for energy nanotech, burgeoning consumer awareness, the expansion of nanotech fabrication capabilities, and the emergence of nanotech-oriented startups. Key trends expected during the forecast timeline encompass advancements in nanomaterials, the adoption of nanotech to enhance energy efficiency in buildings, the application of nanotech in grid optimization and management, and an intensified focus on sustainable nanotech.
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What Are the Key Growth Drivers Fueling the Nanotechnology In Energy Applications Market Expansion?
The upward trend in renewable energy needs is predicted to foster the expansion of nanotechnology in the energy applications market. Sustainable alternatives to depleting fossil fuels are offered by renewable energy sources, which utilize naturally regenerative resources. As a shift towards a greener and more sustainable energy future takes place, nanotechnology comes into play to boost the efficiency, performance, and sustainability of technologies such as solar cells, energy storage gears, and fuel cells. For example, in 2024, the World Economic Forum, a non-governmental organization based in Switzerland, revealed that renewable energy capacity rose by 50% in 2023 compared to 2022, propelled by solar PV and wind, which are hoped to account for 96% of fresh installations. It is also forecasted that by 2028, the figure will surpass 710 GW, doubling from the levels in 2022. Thus, the escalating demand for renewable energy is fueling the growth of nanotechnology in the energy applications market.
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What Are the Key Trends Driving Nanotechnology In Energy Applications Market Growth?
Key players in the nanotechnology energy applications market are focusing on innovative strategies such as obtaining cutting-edge silicon anode material specifically for electric vehicle (EV) batteries to spur innovation and tackle emerging energy issues. This involves the procurement of state-of-the-art silicon anode material designed particularly to boost performance and energy storage capabilities of EV batteries. For instance, in December 2023, Panasonic Energy Co. Ltd., a Japanese batteries manufacturer, entered into a partnership with Sila Nanotechnologies Inc., a battery manufacturer based in the US. By integrating Sila Nanotechnologies' Titan Silicon material into Panasonic Energy's EV lithium-ion batteries, they successfully address the silicon expansion during charging, thereby enabling better capacity and enhanced performance. This alliance marks a significant leap in nanotechnology for energy applications, with potential to sustainably fulfil global EV demand, reduce pollution and stimulate regional production.
How Is the Nanotechnology In Energy Applications Market Segmented?
The nanotechnology in energy applicationsmarket covered in this report is segmented -
1) By Material Type: Nano-Structure Monolithic, Solid Nanoparticle, Nanosensor, Nanothin Film, Other Material Types
2) By Application: Petroleum Refining, Fuel Cell, Energy Storage Device, Solar Photovoltaics, Other Applications
3) By Industry Vertical: Manufacturing, Electrical, Transport, Other Industry Verticals
Subsegments:
1) By Nano-Structure Monolithic: Carbon Nanotubes (CNTs), Graphene-based Materials, Nanostructured Carbon Materials
2) By Solid Nanoparticle: Metal Nanoparticles (Silver, Gold, Copper), Metal Oxide Nanoparticles (Zinc Oxide, Titanium Dioxide), Semiconductor Nanoparticles (Silicon, Cadmium Selenide)
3) By Nanosensor: Chemical Sensors, Biological Sensors, Temperature And Pressure Sensors, Gas Sensors
4) By Nanothin Film: Transparent Conductive Films, Photovoltaic Films, Thin-film Batteries, Nano-coating For Energy Storage
5) By Other Material Types: Nanocomposites, Quantum Dots, Nanostructured Polymers, Nanostructured Coatings
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Which Companies Are Leading the Charge in Nanotechnology In Energy Applications Market Innovation?
Major companies operating in the nanotechnology in energy applications market are Honeywell International Inc., Johnson Matthey Plc, DuPont de Nemours Inc., Exxon Mobil Corporation, The Chemours Company, A123 Systems LLC, Aspen Aerogels Inc., Sila Nanotechnologies, Nano Tech Co. Ltd., Altair Nanotechnologies Inc., Advanced Nano Products Co Ltd., Nanophase Technologies Corp., Nanosolar Inc., Nantero Inc., Hyperion Catalysis International Inc., Bayer MaterialScience LLC, Solaronix Sa, Mach I Inc., Zeolyst International, He3Da Ltd., Suzhou Sinlion Battery Tech Co. Ltd., Ad Nano Technologies, NEI Corporation, Nanotech Energy Inc., Black Diamond Structures
Which Regions Are Leading the Global Nanotechnology In Energy Applications Market in Revenue?
North America was the largest region in the nanotechnology in energy applications market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nanotechnology in energy applications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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