Nanomaterials Market Size, Share & Trends Analysis Report By Product (Gold, Silver, Iron, Copper), By Application (Aerospace, Automotive, Medical), By Region, And Segment Forecasts, 2021 - 2028
New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nanomaterials Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06187944/?utm_source=GNW
Nanomaterials Market Growth & Trends
The global nanomaterials market size is expected to reach USD 23.1 billion by 2028. The market is expected to expand at a CAGR of 14.1% from 2021 to 2028. Factors such as increasing applications of nanomaterials in electronics and biomedical domains, financial support from the government, ongoing R&D, and rapid economic growth are expected to drive the market in the forecast period.
The market is witnessing huge potential on account of continuous R&D activities over the recent years. Nanomaterials are anticipated to gain popularity owing to their superior properties coupled with their diversified applications in a wide range of industries such as aerospace, automotive, electronics, energy storage, and wastewater treatment.
The growth of the market is adversely affected by the economic crisis and lockdown caused by the Covid-19 pandemic.However, industries are gradually shifting towards a new normal to gain a similar growth trend as before the pandemic.
Key players are dominating the market by offering a diversified product portfolio.Manufacturers provide products on the basis of standard and design specifications provided by the end-users.
However, an increasing number of potential suppliers is expected to bring down the supplier’s bargaining power to moderate.
Nanomaterials Market Report Highlights
• The medical applications segment is expected to witness the fastest CAGR of 29.9% from 2021 to 2028. This growth can be attributed to wide a range of applications such as biomedical device coatings, drug-delivery carriers, and imaging probes. In addition, these are being used for the treatment of cancer, diabetes, pain, asthma, allergy, and infections
• The market in the Asia Pacific was estimated to account for USD 2.8 billion in 2020 owing to rising demand for nanomaterials from microelectronics and nanoelectronics as the use of sophisticated devices grows
• In North America, apart from federal investments, state governments and private companies are increasingly investing in developing novel applications of nanomaterials in biomedical, electronics, and automotive. The market growth can be attributed to increasing applications in the nanoelectronics and biomedical sectors
• Stringent regulations in North America and Europe are projected to hinder the growth of the market in these regions. Regulatory authorities such as the Food and Drug Administration, and the Health and Consumer Protection Directorate are investigating the potentially harmful impacts on the environment and human health
Read the full report: https://www.reportlinker.com/p06187944/?utm_source=GNW
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