Nanotechnology products market size to grow by USD 106.2 billion from 2022 to 2027 at a CAGR of 14.92%; Growing semiconductor components miniaturization to drive market growth - Technavio
NEW YORK, May 30, 2023 /PRNewswire/ -- The nanotechnology products market size is estimated to grow by USD 106.2 billion between 2022 and 2027 at a CAGR of 14.92%. Key factors such as the growing miniaturization of semiconductor components, increasing adoption of novel nanotechnology tools to boost agricultural productivity, and rising potential of nanotechnology products to replace other materials are expected to boost the nanotechnology products market growth during the forecast period.
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Nanotechnology products market ? Vendor Analysis
Vendor Landscape - The nanotechnology products market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer nanotechnology products in the market are 3M Co., Advanced Nano Products Co. Ltd., Applied Materials Inc., Arkema Group, BASF SE, Bruker Corp., Covestro AG, Dow Chemical Co., DuPont de Nemours Inc., Kleindiek Nanotechnik GmbH, Nano C Inc., Nano Magic Inc., Nanophase Technologies Corp., Nanosys Inc., PPG Industries Inc., Smiths Group Plc, Taiwan Semiconductor Manufacturing Co. Ltd., Thermo Fisher Scientific Inc., Zyvex Corp., and Synopsys Inc. and others.
What's New? -
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Global competitiveness and key competitor positions
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Vendor Offerings -
Listed below are some of the key vendors and their offerings:
3M Co.: The company offers nanotechnology products such as 3M Brightness Enhancement Film, Filtek One, 3M Matrix Resin.
Applied Materials Inc.: The company offers nanotechnology products through Nanochip Fab Solutions.
Arkema Group: The company offers nanotechnology product namely Graphistrength multiwall carbon nanotubes.
Technavio has segmented the market based on application (healthcare, electronics, energy and power, aerospace and defense, and others), product (nanomaterial, nanodevices, and nano tools), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
The healthcare segment will contribute a major share toward the market growth. The segment was valued at USD 19.88 billion in 2017 and continued to grow until 2021. Nanotechnology-based healthcare products are rapidly gaining traction as an important segment in the global healthcare industry through their contribution to a wide range of diagnostic and therapeutic applications. For instance, one such application of nanotechnology in healthcare is drug delivery, where nanoscale drug delivery systems (NDDS) are being developed to target specific cells and only distribute them. For instance, NDDS can deliver chemotherapy drugs only to cancer cells, minimizing damage to healthy cells. Such targeted drug delivery could be highly effective in treating cancer patients.
Geography Overview -
By geography, the global nanotechnology products market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the nanotechnology products market.
North America contributes 36% of the global nanotechnolgy products market during the forecast period. The growth of the market in the region can be attributed to the expansion and technological improvements in the electronics industry. Besides, the increased manufacturing of tailored polymers is expected to drive the regional market growth during the forecast period. Furthermore, the rising production and sales of battery EVs in the region over the years has been driving the focus market growth. For instance, fully electric cars accounted for 5.7% of car sales in the US in 2022 from 3.2% in 2021, 1.7% in 2020, and 1.4% in 2019. In 2022, more than 750,000 new all-electric cars were registered in the US, 57% higher than in 2021. Hence, the increasing demand for EVs is expected to drive the growth of the regional market during the forecast period.
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Nanotechnology products Mmrket ? Market Dynamics
Leading Drivers -
Increasing adoption of novel nanotechnology tools to boost agricultural productivity: The adoption of novel nanotechnology tools to boost agricultural productivity is expected to drive the nanotechnology products market during the forecast period. The increasing use of nanotechnology tools can be attributed to the rising global population. According to World Bank Group's data, the global population increased from 7.34 billion in 2015 to 7.76 billion in 2020. The growing population is leading to the rising demand for food, which can be met by raising agricultural production. However, existing traditional methods to augment crop production are unable to meet the current demand. Moreover, traditional agricultural techniques are unable to overcome climate change-related challenges, including droughts and floods that are detrimental to the agriculture industry. Hence, researchers are working on nanotechnology tools to develop new varieties of plants and increase the productivity of plant systems. Some of the benefits obtained through nanotechnology include minimized agricultural inputs and enriched crops through the absorption of nanoscale nutrients from the soil, thereby enhancing food quality and safety.
Key Trends -
Growing demand for carbon nanotube-based touchscreens: The growing demand for carbon nanotube-based touchscreens is one of the key trends in the nanotechnology products market. This can be attributed to the increase in the use of touchscreen input for several mobile devices, including smartphones, tablets, and others. Initially, mobile devices had push-button or physical keypad-based inputs. However, in recent years, mobile device touchscreens have become widely available because of their simplicity and ease of use. Touchscreen devices can recognize touch through simple physical contact. Touchscreens are now finding applications across various device screens, namely ATMs, kiosks, television, monitors, and many others. Besides, flexible electronics are expected to gain momentum in the upcoming years. These devices, with flexible display, should be manufactured using material that can deform upon the application of pressure. Hence, carbon nanotubes will be one of the key materials used in the manufacture of these flexible electronics.
Major challenges -
High cost of production: The commercialization of nanotechnology products and other electrically conductive nanoparticles is being hampered by the high cost and limited supply of carbon nanotubes. The manufacturing of nanotechnology products requires high capital expenditure due to the need for various kinds of manufacturing equipment, microscopes, power sources, probes, and cleanrooms. Furthermore, the procurement of raw materials required for nanotechnology research as well as the production of nanotechnology products, which are exorbitant, are limiting the growth of the market. For instance, the cost/kg to produce carbon nanotubes and graphene is USD 400-700 million per kg and USD 70,000-110,000 per kg, respectively. As the market is still in the nascent stage (research), trained professionals with best-in-the-market salaries are needed to work at production facilities. Hence, these factors are expected to limit the growth of the market in focus during the forecast period.
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What are the key data covered in this nanotechnology products market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the nanotechnology products market between 2023 and 2027
Precise estimation of the size of the nanotechnology products market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the nanotechnology products market industry across North America, Europe, APAC, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of Nanotechnology Products Market vendors
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The food nanotechnology market share is expected to increase by USD 187.84 billion from 2020 to 2025 at a CAGR of 25.32%. This report extensively covers the food nanotechnology market segmentation by application (food packaging, food processing, and food testing) and geography (APAC, North America, Europe, South America, and MEA). The increasing adoption of novel nanotechnology tools to boost agricultural productivity is notably driving the food nanotechnology market growth.
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Nanotechnology products market scope
Report Coverage
Details
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 14.92%
Market growth 2022-2027
USD 106.2 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
13.88
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
North America at 36%
Key countries
US, China, Japan, Germany, and France, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
3M Co., Advanced Nano Products Co. Ltd., Applied Materials Inc., Arkema Group, BASF SE, Bruker Corp., Covestro AG, Dow Chemical Co., DuPont de Nemours Inc., Kleindiek Nanotechnik GmbH, Nano C Inc., Nano Magic Inc., Nanophase Technologies Corp., Nanosys Inc., PPG Industries Inc., Smiths Group Plc, Taiwan Semiconductor Manufacturing Co. Ltd., Thermo Fisher Scientific Inc., Zyvex Corp., and Synopsys Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents -
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Application
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Product
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global nanotechnology products market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on global nanotechnology products market 2017 - 2021 ($ billion)
Exhibit 188: Thermo Fisher Scientific Inc. - Overview
Exhibit 189: Thermo Fisher Scientific Inc. - Business segments
Exhibit 190: Thermo Fisher Scientific Inc. - Key news
Exhibit 191: Thermo Fisher Scientific Inc. - Key offerings
Exhibit 192: Thermo Fisher Scientific Inc. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 193: Inclusions checklist
Exhibit 194: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 195: Currency conversion rates for US$
13.4 Research methodology
Exhibit 196: Research methodology
Exhibit 197: Validation techniques employed for market sizing
Exhibit 198: Information sources
13.5 List of abbreviations
Exhibit 199: List of abbreviations
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