Global Nanomaterials Market to Reach $12.1 Billion by 2026

Nanomaterials are strong, yet lightweight materials that can be employed in an extensive array of industrial, electronics, healthcare, automotive, construction and consumer applications. Apart from enabling thinner layers and smaller structures for semiconductor manufacturing, nanotechnology is expected to offer enhanced functional surfaces and reliable materials combinations to cater to specific requirements of interconnection and packaging technologies. Miniaturization of electronic devices and components and lean towards light weight and energy efficient electronic systems will continue to make strong business case for use of nanomaterials in electronics production. Nanomaterials play an important role in the field of medicine by providing solutions for prophylactics, diagnostics and treatment of various medical conditions. Nanotechnology is anticipated to also accelerate the transition from coal-fired and atomic-energy based power generation units to renewable energies. Nanomaterials have also been found to enhance the electrical, thermal, structural, optical, magnetic and catalytic capabilities of the automobile. The increasing sale of anti-aging products that use nanocarrier delivery options along with rising adoption of zinc oxide and titanium dioxide nanoparticles in sun care cosmetics propel growth in personal care industry.

Amid the COVID-19 crisis, the global market for Nanomaterials estimated at US$7.1 Billion in the year 2020, is projected to reach a revised size of US$12.1 Billion by 2026, growing at a CAGR of 9.7% over the analysis period. Carbon Nanotubes, one of the segments analyzed in the report, is projected to record a 11% CAGR and reach US$4.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Titanium Dioxide Nanoparticles segment is readjusted to a revised 10.1% CAGR for the next 7-year period. Carbon nanotubes are hollow, cylindrically structured network of carbon atoms, which result in the formation of crystalline graphite. Nanotubes exhibit exceptional thermal, mechanical, and electrical properties. These are primarily used in the production of plastic-based equipment for semiconductor wafers, mechanical memory (RAM), and computer disk drives.

The U.S. Market is Estimated at $2.1 Billion in 2021, While China is Forecast to Reach $1.2 Billion by 2026

The Nanomaterials market in the U.S. is estimated at US$2.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2026 trailing a CAGR of 11.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1% and 8.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.1% CAGR. North America continues to dominate demand for nanomaterials used in the cosmetic and personal care industries. The strong position of the region is attributed to increasing allocation to R&D projects and affordability of products. While Europe is estimated to claim a major share of the market owing to mass production and associated decline in nanomaterials` prices, robust gains for nanomaterials across the Asia-Pacific region are credited to government investment in nanotechnology research and rising adoption of cosmetic products offering sun protection.

Silicon Dioxide Segment to Reach $1.6 Billion by 2026

In the global Silicon Dioxide segment, USA, Canada, Japan, China and Europe will drive the 8.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$750.1 Million in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$253.5 Million by the year 2026.