Significant advancements in technology, growing demand for miniature devices, and increasing government investments in research & development activities in various industries are some key factors expected to drive market revenue growth
According to Emergen Research, the global nanotechnology market size was USD 75.80 billion in 2020 and is expected to reach USD 290.93 billion in 2028 and register a revenue CAGR of 18.3% during the forecast period, 2021-2028.
The global nanotechnology market revenue growth is majorly driven by factors such as growing implementation of nanotechnology in the fields of medicine, information technology, agriculture, power & energy, chemicals & materials, consumer goods manufacturing, packaging, and transportation. Growing demand for miniature devices, rising government investments in research & development activities in various industries for miniature technological devices, and surging need for improved and more reliable drug delivery systems are other major factors expected to further fuel revenue growth of the global nanotechnology market.
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Nanotechnology refers to the use of matter on molecular, atomic, and supramolecular scales for a wide range of industrial activities. The wide-ranging spectrum of nanotechnology comprises organic chemistry, surface science, molecular biology, semiconductor physics, engineering, microfabrication, energy storage, and molecular engineering. Nanotechnology is increasingly being used to develop nanoelectronics, nanomedicine, biomaterials energy production, and a wide array of consumer products. Growing use of nanotechnology in the power & energy industry to develop more economical solar panels and related equipment for energy storage, increasing applications of nanotubes and nanocomposites in the electronics and semiconductor sectors for enhanced display screens and reduced power consumption of electronic gadgets are expected to further boost the global nanotechnology market growth.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Nanocomposites Type Segment to Account for Largest Revenue Share:
Based on type, the nanocomposites segment is expected to dominate in terms of revenue in the global nanotechnology over the forecast period. Growing use of nanocomposites in the medical, information technology, electronics, power & energy, chemicals & materials, and manufacturing sectors owing to their high tensile strength, enhanced optical and magnetic properties, superior corrosion resistance, and robust thermal and electronic conductivity is a key factor expected to contribute to the revenue growth of this segment.
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Healthcare Segment Revenue to Expand at a Rapid CAGR:
Among end-use industries, the healthcare industry is expected to register the fastest revenue CAGR over the forecast period, owing to many favorable factors. Rising geriatric population worldwide, increasing prevalence of chronic diseases, growing applications of nanotechnology in disease diagnostics and therapeutics, and increasing government investments in the healthcare sector for R&D in nanotechnology are among the major factors expected to fuel the revenue growth of this segment.
Asia Pacific to Account for Fastest Revenue Growth Rate:
Asia Pacific is expected to account for the fastest revenue growth rate in the global nanotechnology market over the forecast period. Increasing adoption of nanotechnology technology in the information technology, medicine, electronics, chemicals & materials, agriculture, power & energy, and transportation industries, and growing investments in R&D programs involving nanotechnology and related concepts are expected to drive the Asia Pacific nanotechnology market growth.
Major Companies in the Market Include:
- GE Healthcare
- IBM research
- Hewlett-Packard Co.
- Fujitsu laboratories, Ltd.
- Bayer Material Science
- Altair Nanotechnologies Inc.
- Cypress Semiconductor
- Cortex Biochem
For the purpose of this report, Emergen Research has segmented the global nanotechnology market on the basis of type, end-use industry, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Nano devices
- Nano tools
End-use Industry Outlook (Revenue, USD Billion; 2018–2028)
- Food & Beverage
- Beauty & Cosmetics
- Information Technology
- Power & Energy
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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