The global nanomaterials market is expected to grow with a CAGR greater than 9% during the forecast period. One of the major factors driving the market is the growing usage of nanomedicines in the Healthcare Industry.
New York, March 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nanomaterials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06036748/?utm_source=GNW
However, the high cost of technology is hindering the growth of the market studied.
- Increasing usage of nanomaterials in water treatment applications is another major driver for the market studied.
- Among the product types, nanoparticles are likely to account for the highest market share during the forecast period.
- Asia-Pacific is expected to account for the highest growth rate during the forecast period.
Key Market Trends
Nanoparticles to Dominate the Market
- Currently, nanoparticles account for the major share of the global nanomaterials market. The growing demand for nanometals is a key driving factor for the increasing popularity of nanoparticles
- Metal nanoparticles or nano metals are those that exhibit different physical & chemical properties when fabricated at the nanoscale. The properties, such as optical, electrical, and color of these metals are shape and size-dependent.
- Nano metals can be prepared using different methods, of which the wet chemistry method is most widely used. Surface Plasmon Resonance (SPR) generally causes the change in colors in nano metals.
- Nano metals are widely used for medical applications and as weaponry in the defense sector. Gold, silver, platinum, titanium, and aluminum are currently being fabricated as nano metals for application in different industries.
- Additionaslly, with the growing defense and healthcare investments across the world, nanometals is likely to witness a major growth in its demand.
- Hence, owing to the above-mentioned factors , nanoparticles are likely to dominate the market studied during the forecast period.
Asia-Pacific Market to Witness the Highest Growth rate
- In the recent past, Asia-Pacific witnessed significant growth in the demand for nanomaterials especially from countries like China, South Korea, and India.
- The growth in technology and increase in investments, in research & development, with government support has driven the market for nanomaterials in this region with its high usage in various applications.
- The nanomaterials market in China is increasing at a faster pace, followed by India and South Korea.
- Japan has the largest market for nanomaterials, as the technological hub with maximum consumption in electrical & electronics market.
- In Asia-Pacific, the healthcare industry is growing as the rollout of public health care programs combined with growing consumer wealth is anticipated to boost health care spending.
- Thus, growing demand from various end-users is boosting the demand for nanomaterials market in the Asia-Pacific region.
The global nanomaterials market is moderately consolidated as majority of the market share is divided among few players. Some of the key players in the market include Nanocyl SA, SHOWA DENKO K.K., Arkema group., KURARAY CO., LTD., and BASF SE, among others.
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