The Materials and Nanotechnology market generated revenue of $2,536 million in 2013 and is expected to reach $9,078 million by 2024 with a CAGR of 20% from 2016 to 2021. The global nanotechnology market was valued at $1,055.1 million in 2018 and is projected to reach $2,231.4 million by 2025 with a CAGR of 10.5 percentages from 2019 to 2025.
According to the main corporations, increased investment in R&D, expanded use of nanomaterials across a range of application sectors, and the nanomaterials' favourable physicochemical features are the factors most likely to boost demand for nanomaterials across industries. Tiny amounts of nanomaterials are frequently used to enhance the performance of the basic material. However, obstacles like strict environmental restrictions and the expensive price of nanomaterials could stifle the development of the industrial sector.
The global market for nanomaterials and nanotechnologies is anticipated to expand quickly throughout the period of forecasting. Carbon nanotubes, nanoclays, nanofibers, quantum dots, and silicon oxide are examples of nanomaterials. The demand for filtering applications, electronics, cosmetics, energy, medicine, chemicals, coatings, and catalysts will significantly push the markets for nano pods, titanium dioxide, zinc oxide, and nonporous materials, which have already emerged in these areas.
By 2020, the global market for material science is expected to reach $6 billion, growing at a CAGR of 10.2 percent between 2015 and 2022. North America has the biggest market, followed by Asia-Pacific. As a result of the region's economic recovery and the rising demand for building insulation and energy efficiency, the global market is anticipated to grow steadily.
By 2022, the markets for microspheres and flexible pipe are projected to be worth USD 6.68 billion and USD 1,111.3 million, respectively, with a CAGR of 9.02 percent and 4.0 percent, respectively, between 2017 and 2022. As substance producers sign supply agreements with end-use industries in an effort to preserve and increase their market position within the composites, the market for core materials may also experience a spike.
Key benefits of the Materials and Nanotechnology market:
Well, the essential dynamic components of market understanding are offered by an examination of current research and advancements in nanomaterials.
Nanomaterials producers' competitive intelligence aids in understanding the competitive landscape among industry participants across various locations.
The study defines the major competitors in the nanomaterials industry and analyses their tactics to understand the market's competitive picture.
Some examples of nanotechnology innovations from throughout the world include:
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