Market Overview
(200 pages) A Report by DataM Intelligence estimates the Global Nanotechnology Market to grow at a high CAGR Of the forecast period 2024- 2031. The market is expected to grow because it becomes important in different industries like Food and Beverages, Biotechnology, Medicine & Healthcare Applications, Energy, Automotive & Electronics. The competitive rivalry intensifies with 3D Systems, Nanoseedz., 3DIcon, and others operating in the market.
Nanotechnology is a field of applied science that control matter at the molecular level within a scale smaller than 1 micrometre and it varies between 1 to 100 nanometers. Nanomaterials have remarkable chemical and physical properties available in small size and a high surface-to-volume ratio. Nanotechnology is the combination of nanoscale science, engineering and advanced technology which involves measuring, imaging, modelling and manipulating matter at the molecular level.
Nano Materials possesses unique and versatile mechanical and physicochemical properties hence can be used in different fields, such as automotive, life science, electronics, healthcare, chemical engineering and among others.
Report Scope
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Product, By Application, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
Rising investment for the development of nanotechnology-based products
The market is driven by the rising demand for nanotechnology in medical application & imaging and rising investment for the development of nanotechnology-based products have propelled the demand. As per the European Commission estimation, the nanotechnology development sector exceeds US$ 1 trillion and is growing investment at a rapid pace around the globe.
The EU commission invested approximately US$ 67 billion in nanotechnology-related research between 2000 to 2015. Further increase in nanotechnology-based research and development attracted huge investment in nanotechnology. For instance, National Nanotechnology Initiative (NNI) has received around US$ 27 billion for the extensive research and development of nanotechnology in 2019.
Further Massachusetts Institute of Technology (MIT) has made an investment of around US$ 350 million in 2018 for the state-of-the-art nanoscale research centre named “MIT.nano. Also, Saudi Aramco Energy Ventures (SAEV) has invested around US$ 10 million in NanoMech, a leading company in nanomanufacturing in 2016.
Advancement in technology for various chronic diseases such as cancer, diabetes etc to provide specific targeted treatment is expected to boost the market growth over the forecast period
With growing technological advancement, the Application of diseases using nanotechnology is much easier and can be treated at early stages. For instance, as per a new study published by the American Chemical Society on 2nd October 2020 Charged nanoscale particles with metal-organic frameworks are used for generating free radicals using X-rays within tumour tissue to kill cancer cells directly. Furthermore, the same frameworks can be used to activate the immune response against tumour cells and deliver immune signalling molecules known as PAMPs.
Stringent Government Policies Regarding Approval of Treatment Methods is hampering the Market Growth
The medical devices and equipment developed for the treatment of renal disorders have to go through strict and long approval procedures which might be a lengthy and time-consuming process. Similarly, the drugs are required to go through various clinical trials before being approved for the market. The stringent government policies for the approval of treatment methods for renal disorders is estimated to become a restraining factor for the market growth.
COVID-19 Impact on Nanotechnology Market
The global nanotechnology market has received an immense response for the development of the vaccine against the COVID-19 pandemic. As several leading pharmaceutical companies are researching the virus and developing diagnosis and treatment methods of the coronavirus. Similarly, nanotechnology is emerged as an advanced method for deployment and fighting against COVID-19 in a wide range of areas. As per the latest paper published in the journal ACS Nano, several ways using nanotechnology can be used, with nanotech in research fields of areas such as medicine, engineering, materials science, virology, biology, chemistry and computational science.
Thus nanotechnology in healthcare demand has propelled during the covid-19 for combating the disease prevalence. For instance, nanotechnology helped for the following reasons: Delivering drugs to those already infected, alternative to disinfectants preventing the virus spread and helping in suppressing the immune response of COVID-19 patients. However, the demand for nanotechnology in other segments has been slightly dropped as several leading players were focusing on the healthcare sector.
Segmentation Analysis
The global nanotechnology market is segmented based on product, application and region.
Growing demand for fluorescent nanosensors for in-vivo monitoring of biomarkers in clinical development strengthening its market size
In terms of product, the global nanotechnology market is bifurcated into Nanosensors, Nanodevices, Nanocomposites, Nanomaterials, Nanotools and others. Further Nanosensors are divided into optical nanosensors and further optical nanosensors are classified into chemical nanosensors, physical nanosensors, biosensors and others. Among these, nanosensors has the highest market share in 2019 this is primarily due to their properties such as fewer moving parts, higher efficiency and noise-free operations. This propels the demand for automotive, electronics devices with the advent of the nanotechnology segment.
The launching of carbon-based nanoparticles by the leading players is expected to boost the nanotechnology market
Further nanodevices are divided into nano manipulators, nanomechanical test instruments, nanoscale infrared spectrometer and others. Further nanomaterials are segmented into Carbon-Based Nanoparticles, Metal Nanoparticles, Ceramic Nanoparticles, Polymeric nanoparticles, Semiconductors nanoparticles, Liquid-Based nanoparticles and others for instance on 8th July 2020, the European Union Observatory for Nanomaterials (EUON) published 'Polymer-based nanocomposites which enables resource efficiency, innovation, and helps to fight climate change.
Rising demand for the development of medicine & healthcare with the advent of nanotechnology has shown the highest market share
Depending upon the application, the global nanotechnology market is divided into ICT, food and beverages, biotechnology, medicine & healthcare Application, energy, automotive & electronics, pharmaceuticals, agriculture, chemical manufacturing, aerospace & defence and others. Among these medicine & healthcare Application has the highest market share in 2019, due to the rising demand for cancer treatment.
Further on 27th May 2019, Nanobiotix launched a new nanotechnology platform called curadigm for healthcare. This aims to provide various treatments and could reshape efficacy and toxicity for patients. Further, on 5th Feb 2020, Catherine Hockmuth of UC San Diego and the University of California has developed a new biomaterial designed for repairing damaged human tissue that doesn't wrinkle when it is stretched. The invention has done by nano engineers at the University of California, San Diego in tissue engineering because it more closely mimics the properties of native human tissue.
Similarly, ICT, food and beverages, biotechnology, energy, automotive & electronics, pharmaceuticals, agriculture, chemical manufacturing, aerospace & defence are also growing faster pace owing to rising demand for compact design products required in the industries and several leading players are launching new technology-based materials.
Also, the automotive and electronics sector is growing at a faster pace owing to the rising launching of compact automotive components like batteries, dashboards etc. For instance, on 20th Feb 2020, Nawa Technologies has developed innovative “Ultra-Fast Carbon Hybrid Batteries” which is a combination of carbon nanotubes, conventional ultracapacitors and Li-ion batteries. Further growing demand for electric vehicles has also propelled this segmental growth. According to the International Energy Agency in 2019, around 2.1 million electric cars were being sold representing a 6% growth rate as compared to the previous year.
Geographical Shares
North America region holds the largest market share global Nanotechnology market
By region, the global nanotechnology market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Among all of the regions, North America is the dominant region for the global nanotechnology market and is expected to grow at the highest CAGR during the forecasted period due to the presence of advanced technology and growing funding for the development of nanoparticles based products by government initiatives followed by North America region. In the NorthAmerica region, the United States has accounted for approximately $6.6 billion in funding and globally public investments in nanotechnology increasing approximately $10 billion per year.
Similarly, the Asia-Pacific region is also growing at the fastest pace due to growing research and development spending on nanotechnology-based products has propelled the demand for this market, For instance, as per the Congressional Research Service Organization, global corporate Nanotechnology, Research & Development spending was an estimated to around US$ 9.4 billion in 2012. Among which the United States has US$ 4.1 billion, Japan with US$ 2.3 billion, Germany US$ 707 million, China has approximately US$ 400 million spending for extensive research and development in nanotechnology. Further Asia Pacific region is also growing at a faster pace owing to rising government spending on the development of advanced technology.
Companies and Competitive Landscape
The global nanotechnology market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation and opportunities intensify the market competition. Nanoseedz, 3DIcon, Agar Scientific, Leadernano, Ancon, Advanced Nano Products Co., Ltd., AnyGen, Nanoshel, Curiox Biosystems, Omniyo, Anosys, 10x Technology Inc, QD Vision, 3rdTech Inc, Arkema, 10Angstroms, 10x MicroStructures and 3M are the leading market players with significant market share.
There is a rise in the launch of advanced technology-based nanotechnology for packaging with reduced antiviral and antibacterial. For instance, on 31st August 2020, Termotécnica has launched the safe pack antiviral and antibacterial based on nanotechnology. Safe Pack uses nanotechnology for EPS packaging to reduce the time and quantity of viral and bacterial agents.
Key Developments: Several leading companies collaborating with Universities for development of the nanotechnology for the treatment of immunological diseases. For instance, on 10th October 2019, Moderna Inc has collaborated with Harvard University with a grant of US$ 1.2 million for extensive research to identify and develop novel therapeutic approaches to improve the lives of patients with immunological diseases.
Mergers & Collaborations:
Companies are entering into collaborations, acquisitions, mergers and licensing for increasing their market penetration through extensive research for developing a treatment based on nanotechnology. On 6th July 2019, COSTAS Inc completed the acquisition of Atlas Nanotech to develop the multi-billion-dollar global Nanomedicine in the marketplace.
Altairnano, Inc.:
Established in 1973 and headquartered in Reno, Nevada, United States.
Altairnano Inc. is one of the global leading providers of advanced nanomaterials technology required in the battery industry. The Company provides Energy Storage Systems (ESSs), lithium Titanate Oxide (LTO) battery technology required for clean, efficient power and energy management using nanomaterials. The Company has extensive research & development facilities that thrive to work for the commercialization of a unique, large-format of nano lithium titanate (nLTO) battery cell produced by nanomaterials.
Key Developments:
For instance, on 20th Sep 2008, Altairnano signed an agreement contract for developing of nano-lithium-Titanate battery technology for around US$ 2.5 Million to the United States Navy.
Arkema Group:
Established in 2004 and headquartered in Colombes, France.
Arkema group designs materials to address the ever-growing demand for innovative and sustainable materials. The Company operates in three complementary segments of speciality materials including adhesive Solutions, advanced materials and coating solutions. The Company has 20,500 employees which operate in more than 55 countries.
Key Developments:
- On 6th October 2020, Akema Goup’s subsidiary Altuglas International has invented the nanotechnology-based first flexible acrylic sheet named ShieldUp Flex. The flexible acrylic sheet ShieldUp Flex gives designers greater freedom to shape their 2D pieces and simplifies the manufacturing processes.
- Further on 23rd Sept 2020, Arkema Group has completed the acquisition of Bostik with specialized in decorative flooring technologies line which growth strategy in adhesives, based on cutting-edge technologies.
