Nanotechnology Market Overview:
According to the World Health Organization (WHO), 2.1 billion people lack safe drinking water at home, and around 1 billion people lack proper sanitation. Potable water has been a growing concern in the world for quite a few years, and this situation is leading to a demand for water purification which is creating opportunities for the vendors in the nanotechnology market that had a valuation of $48.89 billion as of 2018. Furthermore, owing to the application of nanotechnology in various sectors, the demand for the same is poised to observe an escalation at a profitable compound annual growth rate (CAGR) of 13.55% during the forecast period 2019-2025.
The electronics sector is booming in APAC owing to the growth prospects offered by the application of nanotechnology in integrated circuits and transistors implemented within a processor. Water treatment industry is making strides in the APAC region which is leading to an augmented demand for the membranes. Membranes are the most prominently used nanotechnology products. Furthermore, advanced research on nanotechnology in this region is supporting the market. APAC had the maximum nanotechnology market share of 31.12% in 2018.
Nanotechnology Market Outlook:
Nanotechnology includes fields of science as diverse as molecular nanotechnology, surface science, organic chemistry, molecular biology, semiconductor physics, energy storage, micro-fabrication, and molecular engineering. The technology finds applications in a gamut of industries such as medicine & healthcare, environment, ICT, energy, nano-EHS, and others.
According to the International Trade Center (ITC), the trade of semiconductors including diodes and transistors was valued at $119.02 billion in 2018. This also reflects with the booming semiconductor market that had a valuation of $420 to $430 billion as of 2018, and the demand for semiconductors is going to observe a CAGR of 10% to 12% over the forecast period 2019-2025. Similarly, other electronic products that utilize nanotechnology are witnessing a steady growth in terms of revenue. A key application of nanotechnology is found in electronics and semiconductor products segment, which is estimated to grow at a substantial CAGR of 15.01% through to 2025.
Nanotechnology Market Growth Drivers:
· The Application of Nanotechnology in Medical and Healthcare Sector –
The use of nanotechnology in the healthcare sector has created some exciting possibilities for the vendors in the nanotechnology market. Nanotechnology is predominantly used in drug delivery as nanoparticles help to deliver drug and other substance to specific cells in human bodies. The advancing use of nanotechnology in drug development is only going to witness a growth in the future, and it is quite evident in the fact that 7000 new compounds are under development along with 56 new pharmaceuticals as mentioned in the 2017 report by International Federation of Pharmaceutical Manufacturer Association (IFPMA). It is also used in diagnostic techniques and anti-bacterial treatments because gold nanoparticles coupled with infrared light have an ability to kill the bacteria. Furthermore, electricity produced by nano-generators that are worn by patients can reduce blood loss and heal the wound faster. These diverse applications of nanotechnology in healthcare that also include application in cell repair are going to observe further developments, which will support the nanotechnology market.
· The Application in Wastewater Treatment and Other Environmental Aspects –
Owing to the industrial growth and regulations pertaining to the wastewater that is applied in the industries, wastewater treatment industry has been gaining a lucrative prominence. Evidently, wastewater is treated through membranes, which are used in wastewater treatment plants, and since, the number of wastewater treatment plants are on the rise, it is further driving the growth prospects of nanotechnology market. Industries are also incorporating nano-EHS for better safety, which happens to be one of the lucrative applications of nanotechnology. Nano-materials are also found to be eco-friendly, and with the growing concern to save the environment, nanotechnology is used to make such products. The environmental applications of nanotechnology is creating further opportunities for the vendors in the nanotechnology market.
· Nanotechnology for Enhanced Renewable Energy –
Nanotechnology is used to harness solar energy and increase its efficiency using PV cells. The solar PV market is booming due to the incremented demand for solar energy in various countries belonging to Europe, North America, and APAC. Furthermore, Africa solar energy market is poised to see a definite growth in the future. The use of nanotechnology in solar energy sector is expected to offer opportunities in the nanotechnology market.
Nanotechnology Market Trends –
· Nanotechnology for Lighter but High-strength Materials –
Due to the application of nanotechnology in composites, the next generation of graphene and carbon nanotube-based devices will be lighter and stronger. This trend is set to grow, and it resonates with the robust growth potential that is discernible in the lucrative graphene nanoplatelets market.
· Nanotechnology in Building Materials –
The future is set to see a noticeable growth in the application of nanotechnology in the building materials. A nanomaterial called aerogel which has silica nanoparticles is making up for an excellent insulating material used in the construction industry. Furthermore, the manufacturing process of cement leads to a greater CO2 emissions, but the cement industry is leveraging nanotechnology in order to reduce the same. Nanotechnology is also poised to have a substantial impact on the glass industry which will create more opportunities in the nanotechnology market.
Nanotechnology Market Challenges –
The most challenging aspect in the nanotechnology market is scalability of production. Even though nanomaterials impart an outstanding functional performance in the laboratory or prototype stage, the scalability factor is dwarfing the nanotechnology market size. Hence, some of the most propitious applications are in the R&D stage. However, in the future, significant developments are expected in the application of nanotechnology with a profitable commercialization in the automotive, aerospace, and sporting goods industry. Furthermore, the technology will help in effective treatment of cancer which will support the vendors in the nanotechnology market.
Nanotechnology Market Key Players Perspective –
The major players that are ahead of the curve in the nanotechnology market are 3rdTech Inc., QD Vision Inc., Arkema, Nanosys Inc., NanoMaterials Ltd., Bruker Nano GmbH, ELITech Group SAS, QuantumSphere, Inc., and Acusphere, Inc.
Nanotechnology Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the nanotechnology market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The nanotechnology market research report also analyses the application of the same in various industries by product type that includes nano composites, nano devices, nano tools, nano materials, and others.
Nanotechnology Market Report: Industry Coverage
This report also documents the nanotechnology market based on its applications in the various end-user industries such as biotechnology, cosmetics, textile, electronics & semi-conductor, automobile, and others.
The nanotechnology market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
Key Questions Addressed in the Nanotechnology Market Report
Is the market demand for nanotechnology growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for the nanotechnology market?
A Few Focus Points Of This Research Are Given Below: