Nanomaterials Market Size, Share, and COVID Impact Analysis, By Type (Carbon Based, Metal Based Polymer Based, and Others), By End-use (Health Care & Pharmaceuticals, Electronics, Building & Construction, Automotive, Textile, Energy, and Others) and Regional Forecast, 2024-2032

Nanomaterials can be defined based on the particle size of at least 1-100 nm. It can exist naturally and can be created through combustion reactions' by-products and engineered specialized functions. Additionally, it has emergent magnetic, optical, and electrical properties that significantly impact electronics, medicine, and other fields. Furthermore, their size has the ability to remediation the environment and can neutralize toxins. Hence, all these factors are expected to boost the nanomaterials market in the forecast period.

The rising demand for nanomaterials in nanotubes and nanowires generation will surge market expansion. Carbon nanotubes have remarkable characteristics depending on their specific diameter and bonding arrangement of their carbon atoms. Furthermore, carbon nanotubes offer high conductive properties, due to which this product can carry much more current than ordinary metal. Additionally, nanomaterials enable enhancement for the construction and textile industries.

However, Nanomaterials offer great and extensive benefits for end-users, but their effects on human health and the environment are anticipated to hinder the nanomaterials market. Currently, inhalation is one of the main disadvantages associated with nanomaterials. Carbon fibrous nanomaterial may cause lung inflammation and detrimental pulmonary effects, such as pulmonary fibrosis, which may create the dust explosion hazard.               

Impact of COVID-19 on the Nanomaterials Market

The covid-19 pandemic has impacted almost every industry across the world. The U.S and China were the highly affected countries as the pandemic hit the most there. Both countries have significant manufacturers and exporters of nanomaterials. Additionally, mobility restrictions imposed during the pandemic resulted in transportation and logistical challenges as it was impossible to transport raw materials and labor. Most manufacturing companies had to stop production, causing a disturbing supply chain. But in the current scenario, world trade is in the recovery phase, and companies are operating at total capacity.

Key Insights

The report will cover the following key insights:

• Regulatory Scenario of Nanomaterials


• Key Development of Nanomaterials


• Impact of COVID-19 on Nanomaterials Market

Analysis by End-use

Nanomaterials can be segmented into health care & pharmaceuticals, electronics, building & construction, automotive, textile, energy, and others. The quick adoption of the product is associated with its excellent chemical characteristics, as it offers many advantages for different end-users and applications. For example, it is used in clothes that repel stains, odor, and water. Also, consumer electronics like smartphones widely use nanomaterials for chip making and other microelectronics devices. It even has applications in health care as nano-particles are being developed to deliver next-generation drugs and vaccines. Biocompatibility, nontoxicity, and biodegradability are characteristics that make nanomaterials demanding in the healthcare industry. Hence, all these factors are expected to create a space for the nanomaterials market.

Regional Analysis

The global nanomaterials market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to witness sustainable growth. The growth is due to the rise in the electronics industry. The rising adoption of the product in the nanotube will surge the market growth in North America. Europe is expected to show moderate growth due to the automotive industry increase. Latin America, and the Middle East & Africa are projected to register a comparatively lower CAGR by the end of the estimated period.

Key Players Covered

The report will include key players such as American Elements, Advanced Nano Products, BASF SE, ARKEMA Group, Chasm Technologies Ltd, Nanoshel LLC, US Research Nanomaterials, Inc., nanoComposix, Cabot Corporation, Glonatech SA, and Others.

Segmentation

Key Industry Developments

• In June 2021, LG Chem launched a carbon nanotube plant in Korea. The new product will be used in the production of cathode for electric vehicle batteries.