The Nanotechnology Market is valued at USD 3387.55 Million in 2022 and is expected to reach USD 13847.56 Million by 2029 with a CAGR of 22.28% over the forecast period.
Global Nanotechnology Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2029. Emerging use and applications of Nanotechnology and significant R&D investments in this field are the major factors driving the growth of the Global Nanotechnology Market.
Nanoscience and nanotechnology are the analysis of nanoparticles and devices, which achieve their application throughout all the science fields like chemical, mechanics, bio-medical, and material science, amongst others. Nanoparticles are the usually described as a particle of matter between 1 and 100 nanometers (nm) in diameter. Nanotechnology is the designing of convoluted structures from an atomic or molecular stage to high-level performance and high excellent products at a low cost. This technology brings a considerable impact and is believed to be a revolutionary and advantageous technology. Nanotechnology incorporates fields of science as distinct as molecular nanotechnology, micro-fabrication, organic chemistry, surface science, semiconductor physics, molecular biology, energy storage, and molecular engineering. This technology possesses several advantages in various fields such as manufacturing, energy and electronic, medical benefits, and many others.
Nanotechnology provides a revolutionary throughout a variety of industrial domains, involving transportation, energy, communication, medicine, materials & manufacturing, consumer products, agriculture, and households. Health hazards including nano pollutants, social and economy-associated risks like privacy invasion, nanotech weapons can be considered as risks in nanotechnology. The theories that seeded nanotechnology were first debated in 1959 by legendary physicist Richard Feynman in his talk There's Plenty of Room at the Bottom, where he portrayed the probability of synthesis via direct falsification of atoms.
Covid-19 has shown a positive impact on the growth of the global nanotechnology market, as Nanotechnology may help the fight against COVID-19 across different approaches. This technology can avoid viral contamination by designing infection-safe personal protective equipment and enhancing safety. It bears hope for relief from this pandemic to save lives and mitigate the infection as part of a broader global public health agenda.
Global Nanotechnology Market Players like -
The global nanotechnology market is segmented on the basis on type, application, and region & country level. Based on type, the nanotechnology market is classified as nanodevice and nanosensor. Based on application, the market is categorized as electronics, chemical manufacturing, energy, aerospace & defense, healthcare, and others.
Emerging use and application of nanotechnology in the various sectors is one of the major factors driving the growth of nanotechnology market. Increasing investment in this field is also supplementing the market growth. For instance; the U.S. National Nanotechnology Initiative projected that about 20,000 researchers were operating in the field of nanotechnology. In the UK, the Institute of Occupational Medicine expected that roughly 2,000 people were employed in new universities and nanotechnology companies where they may be potentially subjected to nanoparticles. In addition, various organizations are investing in nanotechnology market across the globe which is eventually enhancing the growth of the market for nanotechnology. For example; in 2018, Osaka University-led researchers, in a collaborative research project with The University of Tokyo, Kyoto University, and Waseda University, created incorporated gene logic chips called gene nanochips. These self-contained nanochips can switch genes on and off within a single chip, avoiding unintended crosstalk by using integrated components on the nanochips. Due to the various beneficial application and properties of miniaturization, nanotechnology is gaining attention of many organizations throughout the world.
However, the high cost of the technology act as the major barrier, where this factor is thereby hampering the growth of the nanotechnology market. In spite of that, the surge in support and R&D funding from government associations and the development of self-powered nanotech devices are also expected to offer beneficial opportunities for the nanotechnology market in the forecast period.
Geographically, North America is expected to dominate the market for nanotechnology due to the highest attribution towards significant R&D investments in nanotechnology in this region. For instance, according to the Nano Werk, there are around 690 companies that manufacture products based on Nanotechnology while 55 are from the construction sector, this indicates a concern of companies to accommodate the use of nanotechnology in the construction sector. Nanotechnology possesses tremendous applications in various sectors which improves the use of nanotechnology in the region.
The Asia Pacific is expected to show a fastest growth in global nanotechnology market due to the increasing demand for nanotechnology in the various applications. For instance, according to the Modern Diplomacy 2021, and StatNano, the countries like India with 9 percent, Iran with 6 percent, and South Korea with 5 percent share held the world’s total nanotechnology articles.
On April 13th, 2021- KAIST researchers have developed a novel nanofiber production technique called 'centrifugal multispinning' that will open the door for the safe and cost-effective mass production of high-performance polymer nanofibers. This new technique, which has shown up to a 300 times higher nanofiber production rate per hour than that of the conventional electrospinning method, has many potential applications including the development of face mask filters for coronavirus protection. Nanofibers make good face mask filters because their mechanical interactions with aerosol particles give them a greater ability to capture more than 90% of harmful particles such as fine dust and virus-containing droplets.
|Historical data||2016 - 2021|
|Forecast Period||2022 - 2029|
|Market Size in 2022:||USD 3387.55 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2029:||USD 13847.56 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Nortech Systems, Inc., Tecomet, Inc., Celestica Inc., Heraeus Holding, Flextronics International Ltd., Integer Holdings Corporation, Plexus Corp., West Pharmaceutical Services, Inc., Sanmina Corporation, Altair Nanotechnoogies Inc., Applied Nanotech Inc, Advanced Nano Products Co Ltd, Bruker Corporation, Biosensors International Group Ltd., others.|
|Segments Covered||By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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