Global Nanomaterials Market By Type (Metal, Metal And Non-Metal Oxides, Carbon-Based, Nanoclays, nanocellulose and Dendrimers-Based), By End-use (Medical, Electrical & Electronics, Paints And Coatings, Energy & Power, Aerospace And Defense, Automotive), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Sep 2023
- Report ID: 106414
- Number of Pages: 211
- Format:
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Report Overview
In 2022, the Global Nanomaterials Market was valued at USD 12.4 Billion, and is expected to reach USD 45.6 Billion in 2032 Between 2023 and 2032, this market is estimated to register a CAGR of 13.9%.
The development and industrial utilization of innovative advanced materials such as nanomaterials are of paramount importance for driving a nation’s technological and economic advancement. Nanomaterials, characterized by their extremely small size and remarkable surface area-to-mass ratio, offer the potential to connect quantum effects to precisely control their physical and chemical attributes.
The nanomaterials market comprises various types of materials including, metal, metal & non-metal oxides, carbon-based, nanoclays, nanocellulose and dendrimers-based. These materials consist of nanosized tiny particles that measure less than 100 nanometres in size, whereas, a nanometre accounts for one-billionth of a meter which is around 80,000 times of human hair.
Furthermore, owing to their distinctive physical and chemical properties it aids in enhanced performance and qualitative properties of end products across several end-use industries including, medical, electrical & electronics, paints & coatings, energy & power, aerospace & defense, and automotive, among others.
The global nanomaterials market is experiencing substantial growth driven by various factors. The increasing adoption of existing nanomaterials, coupled with a decline in their prices, is significantly propelling the market forward.
Moreover, continuous improvements in material properties and the expanding scope of research and development in novel materials are further fueling this growth. The substantial investments from both public and private sectors in nanotechnology research, supported by governments and institutions, are instrumental.
Additionally, the rapid advancements in developing new materials and their diverse applications, combined with effective collaboration through partnerships and alliances, are amplifying market progress. The increasing number of industry players and a higher level of international cooperation in research and production within the nanotechnology sector are collectively contributing to the dynamic expansion of the nanomaterials market.
Actual Numbers Might Vary in the Final Report
Key Takeaways
- Market Size: It is expected that the global nanomaterials market will experience a compound annual growth rate of 13.9% between 2023-2032.
- Market Trends: Nanomaterials in power generation industries have witnessed exponentially increasing usage due to an ever-growing interest in renewable sources of energy.
- Type Analysis: Of these segments, metal & non-metal oxides were found to be most profitable within the global nanomaterials market in 2022, holding onto an impressive market share of 73.88% while also projected for an attractive compound annual compounding growth rate of 14.9%.
- End User Analysis: Of these end-use applications, medical was the most lucrative one and held a 30.2% market share as of 2022.
- Drivers: Technological advances and an increasing reliance on nanomaterials – specifically in electronics and healthcare applications.
- Restrictions: Environmental and health considerations, regulatory challenges, and high production costs all pose obstacles to their implementation.
- Opportunities: Opportunities exist within nanotechnology research and development for novel applications; rising demand in emerging economies; and possible advances in green nanotechnology.
- Challenges: Challenges associated with nanotechnology: Scale-up and mass production issues, public perception and awareness considerations, and ethical aspects should all be carefully taken into account before adopting nanotech products and applications.
- Region Analysis: Asia Pacific held an exceptional share in the global nanomaterials market – representing approximately 38.5%.
- Key Players Analysis: American Elements, ACS Material LLC, Arkema, Cabot Corporation, Nanoshel LLC, SkySpring Nanomaterials, US Research Nanomaterials, Inc., Nanophase Technologies Corporation, Chengdu Organic Chemicals Co. Ltd. (Timesnano), Jiangsu Cnano Technology Co., Ltd, Quantum Materials Corporation, Cytodiagnostics Inc, Fortis Life Sciences, OCSiAl, Raymor Industries Inc., Other Key Players.
Driving Factors
Rise in adoption of nanomaterials in the medical industry due to increasing nanomaterials penetration in the treatment of cancer and other malignant tumors
The escalating investments originating from a diverse array of research institutions and the biomedical industry, directed at expanding the utilization of nanomaterials in targeted drug delivery, gene therapy, and the treatment of malignant tumors, are poised to exert a substantial impetus on the growth trajectory of the nanomaterials market.
Within the sphere of the medical sector, nanomaterials play a pivotal role in executing a spectrum of specialized functions. These encompass critical tasks such as advanced imaging, precision drug delivery mechanisms, the facilitation of nanorobotic-assisted surgical procedures, the development of nano diagnostics, interventions in cellular repair, and the creation of nano biosensors.
Particularly noteworthy is the increasing emphasis on research and development endeavors in the medical field, particularly in the domain of cancer treatment utilizing nanoparticles, which holds immense growth potential. Notably, in the year 2020, the United States National Institute of Health allocated approximately US$ 445 million towards advancements in nanomedicine, underscoring the burgeoning opportunities and prospects that nanomaterials offer in the realm of healthcare.
Restraining Factors
Presence of Strengthen rules and regulation due to Growing concerns over nanomaterials impact on human health and the environment
Strengthening rules and regulations regarding the utilization of nanomaterials can be seen as a restraint for the nanomaterials market. Several government bodies and organizations are implementing various rule and regulations on the utilization of nanomaterials.
For instance, as per International Agency for Research on Cancer (IARC) which states that oral exposure of titanium dioxide commonly known as E171 and widely used in several products including, pharmaceutical products, sweets, toothpaste and chocolates, among others is one of the major factor for colorectal carcinogenesis for humans.
For another instance, the Ministry of Industry and Information Technology (MIIT) of China had published guidelines for the advanced materials such as, graphene manufacturing companies. This guidelines was mutually developed by the Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission and the Ministry of Finance.
Market Scope
By Type Analysis
The Metal and non-metal Oxides Segment Held the Largest Market Share in 2022 due to its wide range of applications.
Based on type, the market for nanomaterials is segmented into metal, metal & non-metal oxides, carbon-based, nanoclays, nanocellulose and dendrimers-based. Among these, the metal & non-metal oxides segment was the most lucrative in the global nanomaterials market, with a market share of 73.8% in 2022, and it is estimated to project a CAGR of 14.9%.
Metal oxides, renowned for their versatility, feature prominently in various segments of the nanomaterials (NMs) market, including microelectronics, fuel cells, coatings, catalysts, medicine, and imaging. They also serve as additives in solar cells within the energy sector and play a significant role in construction, where they are extensively employed in paints and surface treatments to combat corrosion and minimize dirt accumulation.
Notably, metal oxides, particularly iron oxide NMs, have substantial utility in the field of medicine for imaging purposes. Their adaptability is further bolstered by the capacity for precise property adjustments, achieved through techniques like doping and surface treatments. For instance, the enhancement of TiO2 NMs as UV filters in glasses or paint additives can be achieved by doping with elements such as Zirconium (Zr) or Hafnium (Hf), resulting in the modification of their absorption wavelengths.
By End-use
The Medical Segment Dominated the Global Market In 2022 owing to continuous pursuit of advancements in healthcare and medical technology.
Based on end-use, the market for Nanomaterials is segmented into medical, electrical & electronics, paints & coatings, energy & power, aerospace & defense, automotive and others. Among these, the medical segment was the most lucrative in the global nanomaterials market, with a market share of 30.2% in 2022.
Nanomaterials used in medical applications offer several advantages, including their capacity to transport active compounds. Their large surface area allows for the attachment of therapeutic molecules, while they can also encapsulate various substances, enhancing solubility, protecting against degradation, or altering biodistribution.
This proves invaluable for combination therapies, synchronously delivering multiple compounds, both temporally and spatially. Furthermore, nanoformulations enable precise targeting of treatment areas, reducing required active ingredient doses and mitigating systemic side effects, as seen in cancer therapies.
Recent research has shifted towards designing more sophisticated nanoscale materials for optimal clinical use. These materials may release active ingredients in response to specific stimuli, allowing controlled administration of the compound of interest in the desired organ and at the necessary time.
Activation could be triggered internally by pH changes or tissue-specific enzymes or externally through factors like alternating magnetic fields or specific light wavelengths. This ongoing development aims to enhance the effectiveness and precision of nanomedicine.
Key Market Segments
Based on Type
- Metal
- Platinum
- Gold
- Silver
- Copper
- Nickel
- Iron
- Others
- Metal Oxides
- Titanium Dioxide
- Zinc Oxide
- Silicon Dioxide
- Aluminium Oxide
- Others
- Carbon-based
- Carbon-black
- Carbon Nanotubes
- Graphene and Graphene Oxide
- Fullerenes
- Others
- Nanoclays
- Nanocellulose
- Dendrimers-based
Based on End-use
- Medical
- Electrical & Electronics
- Paints & Coatings
- Energy & Power
- Aerospace & Defense
- Automotive
- Others
Growth Opportunities
Growth in government support, R&D funding and joint product development
Increasing government support, expansion in research and development (R&D) funding and joint product development strategies would have positive influence on the global nanomaterials market in the upcoming years. Over the globe, several country governments had been recognized the huge potential in the nanomaterials market which in turn would propel the innovation, economic growth, and fulfil societal challenges.
For instance, the U.S. National Nanotechnology had been allocated significant funding of in around US$ 1.5 billion in 2021 in order to enhance the advanced nanotechnology. For another instance, the European Union’s Horizon 2020 program assigned approximately EUR 2 billion funding for nanomaterials and nanotechnology research and development activities.
Latest Trends
Rising focus on the utilization of high-strength and durable structural materials
Over the past few years, there has been continuously rising focus on the utilization of high-strength and durable structural materials. Nanomaterials such as, graphene and carbon nanotubes has excellent strength-to-weight ratios and thus owing to which they can act as stronger alternative over the conventional materials such as, aluminium and steel.
Owing to this characteristic, there has been rising interest across the end-use industries such as, automotive and aerospace for light weight application and structural integrity.
Regional Analysis
Asia Pacific is a Dominant Region in the Global Nanomaterials Market due to rising investment in end-use industries such as electrical and electrical & electronics
In 2022, Asia Pacific held a significant position in the global nanomaterials market, with around 38.5%. In the region, China and India are predicted to grow at a significant growth rate, while China is also forecasted to hold a major share of the global nanomaterials market in the upcoming years. This growth can be attributed to rising investments in sectors such as electrical and electrical & electronics sectors.
For instance, China has earned its preeminent global position in the production and sales of consumer electronics, largely attributable to the nation’s enhanced innovation capabilities and brand-building ability, as highlighted by the Ministry of Industry and Information Technology. China remains an indispensable global manufacturing hub for consumer electronic products, attracting leading international electronic manufacturers to establish manufacturing facilities and research and development centers.
As per estimates published by the Ministry of Commerce of the People’s Republic of China, by July 2023, the Foreign Direct Investment in the country was increased by 1118 USD Hundred Million.
For another instance, over the past few years, India has emerged as one of the most favorable destinations for foreign investors in the field of the pharmaceutical industry owing to supportive government initiatives and policies. The Government of India has introduced an investor-friendly Foreign Direct Investment (FDI) policy in order to enhance the nation’s pharmaceutical sector.
For instance, as per this policy through the automatic route in Medical Devices, 100% foreign investment is allowed, whereas under the automatic route in the pharmaceutical industry, up to 100% FDI in greenfield projects and up to 74% FDI in brownfield projects is allowed.
Furthermore, as per estimates published by the Department of Pharmaceuticals during the 2022-23 financial year, the Department of Pharmaceuticals had approved around 13 FDI proposals accounting for INR 2.814 crore of investment in the pharmaceutical brownfield projects. Thus, this rising investment in the region would have a positive influence on the Asia Pacific nanomaterials market in the forecasted years.
Key Regions and Countries
- North America
- The US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia & CIS
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- ASEAN
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of MEA
Key Players Analysis
Several key players who hold significant influence in the industry drive the global Nanomaterials market. American Elements, ACS Material LLC, Arkema, Cabot Corporation and Nanoshel LLC are the major players known for its diversified Nanomaterials production and supply chain network.
These key players and other industry participants collectively influence the Nanomaterials market’s growth, supply, and demand dynamics. Their continuous innovation, expansion, and market strategies contribute significantly to the industry’s development.
Market Key Players
- American Elements
- ACS Material LLC
- Arkema
- Cabot Corporation
- Nanoshel LLC
- SkySpring Nanomaterials
- US Research Nanomaterials, Inc.
- Nanophase Technologies Corporation
- Chengdu Organic Chemicals Co. Ltd. (Timesnano)
- Jiangsu Cnano Technology Co., Ltd
- Quantum Materials Corporation
- Cytodiagnostics Inc
- Fortis Life Sciences
- OCSiAl
- Raymor Industries Inc.
- Other Key Players
Recent Developments
- In April 2023, OCSiAl launched new high-content nanotube dispersions for Li-ion batteries. This product has in around 2.5 times relatively higher graphene nanotube content. This product aid in enhancing the battery performance as well as more eco-friendly manufacturing.
- In July 2022, CEMEX, S.A.B. de C.V. announced that, the company had introduced a new technology which can converts flue gases emitted by the cement kiln into valuable carbon nanomaterials. This carbon nanomaterials can have potential usage across various sectors ranging from construction to biomedicine owing to their excellent mechanical, chemical, thermal and electrical characteristics.
Report Scope
Report Features Description Market Value (2022) USD 12.4 Bn Forecast Revenue (2032) USD 45.6 Bn CAGR (2023-2032) 13.9% Base Year for Estimation 2022 Historic Period 2020-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Type (Metal, Metal & Non-Metal Oxides, Carbon-Based, Nanoclays, Nanocellulose and Dendrimers-Based), By End-use (Medical, Electrical & Electronics, Paints & Coatings, Energy & Power, Aerospace & Defense, Automotive and Others) Regional Analysis North America – The US & Canada; Europe – Germany, France, The UK, Spain, Italy, Russia & CIS, Rest of Europe; APAC- China, Japan, South Korea, India, ASEAN & Rest of APAC; Latin America – Brazil, Mexico & Rest of Latin America; Middle East & Africa- GCC, South Africa, &Rest of MEA Competitive Landscape American Elements, ACS Material LLC, Arkema, Cabot Corporation, Nanoshel LLC, SkySpring Nanomaterials, US Research Nanomaterials, Inc., Nanophase Technologies Corporation, Chengdu Organic Chemicals Co. Ltd. (Timesnano), Jiangsu Cnano Technology Co., Ltd, Quantum Materials Corporation, Cytodiagnostics Inc, Fortis Life Sciences, OCSiAl, Raymor Industries Inc. and Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the nanomaterials market?The nanomaterials market refers to the global industry involved in the production, distribution, and utilization of materials at the nanoscale. Nanomaterials exhibit unique properties due to their small size and high surface area, making them valuable for various applications across sectors like electronics, healthcare, energy, and more.
What is the value of the global Nanomaterials Market?In 2022, the global Nanomaterials Market was valued at USD 12.04 billion.
What CAGR is projected for the Nanomaterials Market?The Nanomaterials Market is expected to grow at 13.9% CAGR (2023-2032).
What will be the market size for Nanomaterials Market in 2032?In 2032, the Nanomaterials Market will reach USD 45.6 billion. - American Elements
- ACS Material LLC
- Arkema SA Company Profile
- Cabot Corporation
- Nanoshel LLC
- SkySpring Nanomaterials
- US Research Nanomaterials, Inc.
- Nanophase Technologies Corporation
- Chengdu Organic Chemicals Co. Ltd. (Timesnano)
- Jiangsu Cnano Technology Co., Ltd
- Quantum Materials Corporation
- Cytodiagnostics Inc
- Fortis Life Sciences
- OCSiAl
- Raymor Industries Inc.
- Other Key Players
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