by The Global nanomaterials Market is estimated to be valued at US$ 12.57 Bn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nanomaterials refer to materials which are composed of nano sized particles usually ranging between 1 to 100 nm in size. These materials demonstrate enhanced properties such as high strength and ductility along with increased chemical reactivity due to their enormous surface area at nanoscale level. They find wide application across industries such as healthcare, electronics, energy, construction and automobiles. Growing use of graphene, carbon nanotubes and nanoparticles in energy storage devices, medical devices and consumer electronics is expected to boost demand for nanomaterials over the coming years.
Market key trends:
One of the key trends witnessed in the nanomaterials market is the increasing use of graphene in electronics applications. Graphene exhibits excellent electronic, thermal and mechanical properties making it suitable for use in touchscreen panels, batteries, semiconductor devices etc. Growing demand for flexible and wearable electronics is a major factor driving graphene adoption. Another major trend is the development of eco-friendly nanomaterials to replace conventional materials. Rising environmental concerns have prompted manufacturers to produce biocompatible and sustainable nanomaterials for various applications. For instance, natural polymers and biomaterials are being explored for medical uses. Growing R&D in the area of green nanotechnology is anticipated to create new opportunities over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as nanomaterials market requires high capital investments for R&D and production facilities.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market has many established buyers who can negotiate better prices from suppliers.
 Bargaining power of suppliers: The bargaining power of suppliers is high as supply of advanced raw materials is limited and it makes difficult for buyers to switch suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as new nanomaterials are continuously being developed but require compliance with stringent regulations.
Competitive rivalry: high as key players are investing heavily in R&D and product development activities to gain competitive edge.
Key Takeaways
The Global Nanomaterials Market is expected to witness high growth, exhibiting CAGR of 14.% over the forecast period, due to increasing demand for nanomaterials from end-use industries like electronics, healthcare, energy and coating.
Regional analysis: North America dominates the global nanomaterials market owing to high investments in R&D. Asia Pacific exhibits the fastest growth owing to expansion of electronics and healthcare industries in countries like China and India.
Key players operating in the nanomaterials are ACS Material, American Elements, Arkema Group, BASF SE, Cabot Corporation, CHASM Advanced Materials Inc., Chengdu Organic Chemicals Co. Ltd (Timesnano), Jiangsu Cnano Technology Co. Ltd, LG Chem, Nano-C, Nanocyl SA, Nanophase Technologies Corporation, OCSiAl, Raymor Industries Inc., Showa Denko K.K., And Zyvex Technologies. Key players are focusing on new product launches to meet growing demand from end-use industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
