Global Nanomaterials Market is Anticipated to Grow at a CAGR of 15.62% by 2024
KEY FINDINGS
The global nanomaterials market is anticipated to grow at a CAGR of 15.62% during the
forecast period 2017 to 2024. The major driver for the growth of nanomaterials market is the growth in demand and usage of nanomaterials in aerospace and
automotive applications.
MARKET INSIGHTS
The nanomaterials
market is segmented into Product type, End-user industry and Geography. The
nanomaterials product type is segmented on the basis of nanoparticles, nanotubes,
nanofibers, nanowires and nanoclays. The nanoparticles market is further
segmented into nanometal oxides, quantum dots, nanometals and complex oxides.
The nanomaterials end-user industry is segmented into healthcare, transportation,
aerospace and defence, construction, water treatment, electrical and
electronics, consumer goods and others (including energy and packaging). The
nanomaterials market on the basis of geography is segmented into Asia-Pacific,
North America, Europe and Rest of the world. The rise in usage of
nanomaterials in the healthcare industry, increased the application of
nanomaterials in automotive and aviation industry and nanomaterial’s
significance in water treatment applications are some of the major drivers for
the growth of nanomaterials market. Nanodrugs and nano compounds are used in
healthcare sectors on a large scale. Nanosilver is used in the purification process
in water treatment applications.
REGIONAL INSIGHTS
North America accounts
for a colossal market share in the global nanomaterials market. The United States
contributes to the largest market share in North America. North America is
anticipated to lead the market during the forecast period. Europe nanomaterials
market is projected to grow during the forecast period. The consistent growth
of the electronics market and the research and development in the nanomaterials
industry is estimated to witness rapid growth during the forecast period.
Asia-Pacific is anticipated to grow rapidly during the forecast period.
COMPETITIVE INSIGHTS
Arkema, Covetsro, Cnano
Technologies, Showa Denko, Nanocyl, Air Products PLC, Nanophase, and Glonatech
SA are some of the major market players in the global nanomaterials market.
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