Nanomaterials Market Projected To Grow To $13bln by 2024, Led By Increased Stress on Usage For Renew

Primarily used in electronics, nanotechnology lately has been garnering a lot of interest in the scientific and engineering communities, owing to its versatile applicability in a lot of end-user industries, ranging from transportation to construction, infrastructure to healthcare. Currently, nanotechnology industry statistics dictate its dominance in the electrical and electronics sectors. They can be used in roles as versatile as diagnosing diseases, to spark plugs, screening technologies to infrastructural management. This interoperability has been touted to be the major reason of development in the nanotechnology market.

Nanoparticles dominate the market with almost 35% market share

Primarily segmented on the basis of product type, nanomaterials can be of the following types- nanoparticles, nanofibers, nanotubes, nanowires and Nano-clays. Among these types, nanoparticles lead the market with almost 35% market share. Further sub-divided on the basis of origin, metal and metal oxide nanoparticles are in high demand in end-user industries.

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In the same time horizon, it is anticipated that nanofibers are going to be the fastest growing segment, owing to major research and development push by firms in this direction.

North America, led by the USA, dominate the Nanomaterials market

Owing to increased research expenditure, as well as its robustly growing usage in the healthcare industry, along with other end-user industries such as automotive and aviation industries, have resulted in the placing of North America as the largest market for this segment.

Steadily growing curiosity and demand from consumers, coupled with governmental support have helped Asia-Pacific region to become the market with the highest growth rate in the same time horizon under consideration.
Air Products PLC, Arkema, Covetsro, Nanocyl, Glonatech SA, Showa Denko, Cnano Technologies, and Nanophase are some of the primary players in the Nanomaterials Market. Niche offshoots of the markets in the form of nano drugs, nanosilver etc. are seen as major drivers of growth in this market scenario.

The Global Nanomaterials Market Report, while anticipating high growth for the market, also factors major drivers of revenues and costs in the future. Segmentation on the basis of product types and geography helps to decipher future opportunities and threats for the Nanomaterials market.

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