The nanomaterials market is segmented based on
applications into electrical & electronics, chemical products, health care,
aerospace, pharmaceuticals, and polymer and composites. Chemical product
segment holds major share while pharmaceuticals, and polymer & composites
are expected to witness significant growth in coming years. In the cheamical
products, aerogels, so-gels, and inorganic oxide materials find major
application owing to catalytic and high surface area with high absorption
properties
Synthetic methods such as covalent synthesis and
self-assembling techniques & processing to fabricate the nanoparticles
provide better opportunity for computer simulation and modelling. Further financial support from government
organizations are expected to escalate the product growth. These materials
having at least one spatial dimension in the size range from 1 to 100
nanometres. Increasing applications of particles in different fields such as
health care for tumour treatment, will fuel nanomaterials market over the
forecast period.
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Nanomaterials
Market size is expected to witness noteworthy growth over the forecast period
owing to ongoing technological development. In addition, increasing
availability of several methods such as green synthesis and tools to synthesize
nanomaterials are driving nanomaterials market growth.
The physical
and chemical properties of the particles can differ from their atomic,
molecular and bulk materials for same composition. Particles find their
applications in health care, electronics, cosmetics, aerospace, and other
industries. Nanomaterials are both natural and synthetic. Natural are found in
biological systems for instance viral caspids, natural colloids. The synthetic
particles can be attained through bottom up and top down methods. Further, the
synthetic method should be such that size of particle can be controlled in
order to attain the required properties.
Several
regulatory bodies namely EPOA, RCRA, TSCA, NIOSH, REACH, CLP/GHS are involved
in monitoring the generation of hazardous substances due to manufacturing and
processing of nanomaterials. REACH organization recommends the need to properly
evaluate and manage the risks posed by product on health and environment.
Increasing risk to health and environment may hamper nanomaterials market
growth over the forecast period.
With reduction
in particle size, the surface area increases which enhances the rate of
absorption through the skin, lungs and digestive tracks. Another factor that
hinders the nanomaterials market growth is lack of research and understanding.
However, its impact may diminish over the forecast period with the ongoing
extensive research.
Aerospace
sector is expected to witness significant growth over the forecast period as nanomaterials
market creates new business opportunity for automotive as it makes parts
stronger, tougher, and long lasting. It is revealed in the study that use of
this product increases the fatigue life by 200 to 300%.
Based on type
of materials, market is divided into metal & metal oxides (silica, zinc
oxide, aluminium oxide/hydroxide, iron oxide, titanium dioxide and others),
chemicals & polymers (liposomes, nanopharmaceuticals, other chemicals),
carbon based, nanoclay, dendrimers, metal based, nanocellulos, and other
materials. Metal and metal oxides account for a major share owing to increasing
application in fabrication of sensors, micro circuits and passivation coatings.
Carbon based nanomaterials market projected to hold noteworthy share due to
thermal & electrical conductivity, optical and high mechanical strength
properties.
North America
led by U.S., is potential nanomaterials market with rising product application
in major segments in electrical & electronics, chemical products, and
pharmaceuticals. U.S. dominate the overall market owing to large application of
nanotubes in various fields like energy storage, molecular electronics. In
2017, the federal budget has allocated funds to National Nanotechnology
Institute, a U.S. Government Research & Development initiative which has
boosted the nanomaterials market.
Europe
market growth is driven by mass production of the nanomaterials that has in
turn led to fall in the price. Asia-Pacific is the most lucrative nanomaterials
market for the new entrant’s due to the constant support from government
funding’s and increasing demand for speciality materials, rising environmental
consciousness.
The
nanomaterials market is consolidated with major players being BASF, Ahlstrom,
Bayer, Evonik Industries, DuPont, Fuso Chemicals, Southern Clay Products,
EMFUTUR Technologies, Altair Nanotechnologies. The key players to gain major
share of nanomaterials market, adopt strategies such as partnerships, mergers
& acquisitions, business expansion, and product & application
development. In order to gain competitive share and maximize the benefit, BASF
is planning to spend more than one quarter of their capital expenditures in
lucrative regions having above average growth.
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