Global Nanowires Market - Segmented by Type, Application, and Region - Growth, Trends, and Forecast (2018 - 2023)
The global nanowires market is expected to grow at a significant rate during the forecast period (2018 - 2023), majorly driven by the emerging applications of nanowires in LEDs, nano-medicines, and consumer electronics. Nanowires are the building blocks for the next generation of consumer electronics, photonics, sensors (both biological and chemical), and renewable energy applications.
Emerging Applications of Nanowires in LEDs, Nano-medicines, and Consumer Electronics Drive the Market
Nanowires, due to properties, such as, high crystallinity, high surface to volume to ratio, and high resistance, nanowires are increasingly being used in nanomedicines, biomedicine, consumer electronics, bioelectronics, etc. Their use has helped to propel the field of nanomedicine. Nanomedicine is defined as the application of nanotechnology for diagnosis, monitoring, drug delivery, treatment, and control of biological systems. In the United States, the Food & Drug Administrator (FDA) approved over 100 nanodrugs for use in medicinal trials and clinical treatment. Also, nanowires are now increasingly being used in LEDs. They allows for faster communication between devices and microchips. These emerging applications of nanowires in LEDs, consumer electronics, and nano medicines are expected to contribute to the growth of the global nanowires market during the forecast period.
Metal Nanowires to Dominate the Market
Metals have unique thermal, mechanical, electrical, and catalytic properties. On the other hand, metallic nanowires are promising materials for a variety of applications, such as, transparent conductive films for photovoltaic devices, electrodes for batteries, and nano-reinforcement for composite materials. Electronics is one of the major end-user applications of nanowires. They are used in transistors as they are very good conductors or semiconductors. They are also expected to play a significant role in quantum computers in the near future. Moreover, new applications of metal nanowires are also being developed in the field of energy.
China dominates the nanowires Market
China is expected to be the largest market for nanowires, as the country has been engaging in R&D activities for the development of nanotechnology. Nanomaterial regulations in China have helped develop advanced nanomaterial, for the development of environment-friendly products, which are expected to reduce exhaust emissions. The country has a higher usage of nanowires in applications, such as, electrical & electronics, construction, healthcare, and aerospace. In China, about 2,570 jets are used commercially. It is one of the fastest growing aviation industries with a consistent increase in passenger traffic at about 6.6% per year. These advanced technological developments in numerous applications are expected to boost the growth of the nanowires market, during the forecast period.
April 2017: Air Products have started up a new plant in Chongqing city for China’s leading LCD Panel Fab.
Major Players: Cambrios, ACS Materials, NanoComposix Inc., RAS AG Materials, and Blue Nano amongst others.
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