A new report published by Allied Market Research, titled, “Nanomaterials Market – Global Opportunity Analysis and Industry Forecast, 2014 – 2022”, projects that the global nanomaterials market is expected to reach $55,016 million by 2022 from $14,741.6 million in 2015, growing at a CAGR of 20.7% from 2016 to 2022. Paints & coatings end use segment is expected to generate highest revenue throughout the forecast period. North America led the global market in 2015 and is expected to maintain its lead throughout.
The demand for nanomaterials has witnessed tremendous growth due to their
properties such as light weight in nature, electrical, catalytic, magnetic,
mechanical, thermal, and imaging features. Attributable to the above reasons,
nanomaterials are applicable in various end-user industries such as in paints
& coatings, electronics & consumer goods, and energy industries. Some
of the other major factors that drives the potential of nanomaterials market
are extensive focus on research & development activities, new applications
(aerospace & defense, sporting goods, and others), government funding &
support, collaboration among industry players to meet new challenges, and
decrease in price of nanomaterials. However, factors that would hamper the
market growth include concerns over environmental impact and toxicity of
nanomaterials along with stringent environmental regulations.
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Eswara
Prasad, Team Lead, Chemical Research at Allied Market Research states, “Metal
& non-metal oxide-based nanomaterials are the most widely accepted in the
industry and are expected to grow with a CAGR of 20.7% from 2016 to 2022.” He
further adds, “nanoclay and nanocellulose also exhibit growth potential owing
to increase in the number of commercial applications for these materials.” Most
commonly consumed metal & non-metal oxide-based nanomaterials are titanium
dioxide and silicon dioxide. Consumption of silicon dioxide was 198 kilo tons
in 2015 and is projected to reach 786 kilo ton by 2022, at a CAGR of 21.8%.
In the
year 2015, paints & coatings was the largest end-user segment, which
accounted for more than one-fifth share globally followed by electronics &
consumer goods, energy, adhesives & sealants. Extraordinary physio-chemical
properties of nanomaterials, such as mechanical properties, catalytic
properties, magnetic properties, optical properties, and others has increased
their penetration in a wide array of application as it results in improved
performance of end products.
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Key
Findings of Nanomaterials Market:
• The market revenue of nanoclay is expected to witness a highest CAGR of
24.9%.
• Paints & coatings and adhesives & sealants together accounted for
more than one-third market share in 2015.
• Personal care is projected to grow at a highest CAGR of 22% (in terms of
revenue).
• North America is projected to lead the market throughout 2022, growing at a
CAGR of 20.5% (in terms of revenue).
• U.S. led the global nanomaterials market in 2015, and is expected to maintain
its dominance throughout the period under consideration.
In the year 2015, North America and Asia-Pacific collectively accounted for
three-fourths of the worldwide demand for nanomaterials and are expected to
maintain this position throughout. However, the Asia-Pacific nanomaterials
market revenues are projected to grow at a highest CAGR of 21.4%, followed by
North America and Europe. Exceptional physio-chemical properties of
nanomaterial drive its demand in various applications across North America and
Asia-Pacific.
Major
players in the industry invest significantly in research & development to
launch new nanomaterials for commercial applications at low cost. The major
companies profiled in the report include Ahlstrom, Air Products and Chemicals
Inc., Arkema Group, CNano Technologies Ltd., Daiken Chemicals, DuPont, Fuso
Chemical Co., Ltd., MKnano, Nanoco, Nanocyl S.A., NanoIntegris, Nanophase
Technologies Inc., Nanosys Inc., Southern Clay Products, Inc., TDA Research,
and Umicore NanoMaterials.
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