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.
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 defense, 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 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 nanocompounds are used in healthcare sectors on a large scale. Nanosilver is used in purification process in water treatment applications.
North America accounts for a colossal market share in the global nanomaterials market. United States contributes for 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.
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.