The nanotechnology market is surging, with an overall revenue growth expectation of hundreds of billions of dollars within the next eight years.
The nanotechnology market is surging, with an overall revenue growth expectation of hundreds of billions of dollars within the next eight years. The market is expected to grow to $ 288.71 billion by 2030, more than triple the $ 85.39 billion valuation in 2021.That market data, prepared by Precedence Research,
Demand for nanotechnology remains strong in 2021. Some sales insight revealing the strong growth of nanotechnology during the past few years are listed below:
- By product, the nanocomposites segment accounted for a revenue share of 62% in 2021
- Based on application, the medical segment garnered a market share of 30% in 2021
- Asia Pacific led the market and generated a revenue of US$29.88 billion by 2030
- About 20,000 researchers are working in the nanotechnology field in US
- In UK about 2,000 individuals are employed in new nanotechnology companies and universities
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| Report Scope | Details |
| Market Size in 2030 | USD 288.71 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 14.5% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Nanocomposites Segment Market Share in 2021 | 62% |
| Asia Pacific Market Share in 2021 | 35% |
Leading Regions Market Review
Approximately 35% of the Global Nanotechnology Market Captured by Asia Pacific
The rising applications and investments on the nanotechnology in China is significantly driving the growth of the Asia Pacific nanotechnology market. The ongoing research on the catalytic nanomaterials is gaining a rapid traction in China. China is one of the largest producers of automotive, electronics, medical devices, and energy and power. The growing application of the nanotechnology in the various industry verticals is expected to boost the growth of the nanotechnology. The rising demand for the miniature products and components in various products has significantly boosted the adoption of nanotechnology. The developing nations like India, Indonesia, and Vietnam that are focusing on the industrial development are expected to fuel the market growth during the forecast period.
Moreover, the rising demand for advanced electronics, automotive, and medical devices in Asia Pacific is expected to foster the demand for the nanotechnology. The increasing government investments in the development of power and energy sector in major countries like China and India is offering a promising opportunity to the market players. Further, the rising government initiatives to promote the industrial development in this region is prominently playing a role in the growth of the nanotechnology market. The favorable government policies and the availability of cheap labors and other factors of production is attracting huge FDIs and contributing to the industrial development of the Asia Pacific region.
What are the key trends in the Global Nanotechnology Market?
The electronics and the semiconductor are among the fastest-growing industries across the globe. The nanocomposites, naodevices and various nanotechnology products are extensively used in the production of various electronic devices. The surging demand for the various electronics and semiconductor products across the globe is expected to fuel the market growth. Moreover, the rapidly growing information technology and telecommunications industry is expected to boost the adoption of the nanotechnology in the production of nanoscale computer technologies like VR, internet of things, and AR. This is a major factor that can be held responsible for the rapid growth of the nanotechnology market during the forecast period.
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What are the key challenges in the Global Nanotechnology Market?
Scalability of production is one of the major challenges faced by the market players operating in the global nanotechnology market. The rising demand for the miniaturization without hampering the product efficiency is resulting in the complexities in the production. Furthermore, many of the consumer electronics manufacturers and automotive manufacturers are cutting down their production volumes owing to the ongoing shortages of the semiconductors. Therefore, the production shortages of the consumer goods in various industry verticals may hamper the growth of the global nanotechnology market during the forecast period.
Europe Forecast the Strongest Growth Rate During the Forecast Year (2022-2030)
Europe is the second largest nanotechnology market and is expected to grow at a substantial rate during the forecast period. The rising demand for the nanotechnology across various industry verticals such as power and energy, aerospace, automotive, and defense sectors is boosting the growth of the Europe nanotechnology market. The strong economic growth owing to the industrial revolution in Europe and the presence of advanced and huge industries in the region are the major drivers of the nanotechnology market. Growing demand for the nanotechnology for the development of renewable and sustainable power and energy generation equipment in Europe is expected to have a significant impact on the demand for the nanotechnology market during the forecast period.
Top Nanotechnology Manufacturers in 2020
Showa Denko KK, BASF SE, Pen Inc., Nanosys Inc., QD vision, Arkema, 3rd Tech Inc., ApNano Materials, ELITechGroup, Bruker Nano GmbH, and QuantumSphere Inc. are some of the most prominent players operating in the global nanotechnology market. These market players are constantly engaged in various developmental strategies like partnerships, collaborations, new product launches, mergers & acquisition in order to gain market share and strengthen their position in the market.
Market Segmentations:
By Product
- Nanotubes
- Nanocomposites
- Nano Clays
- Nano Materials
- Nano Particles
- Nano Devices
- Nano Tools
- Others
By Application
- Automotive
- Medical
- Electronics
- Aerospace
- Energy & Power
- Paints and Coatings
- Others
Regional Segmentations:
- North America (U.S. and Canada)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
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