Nanotechnology Market Size to Reach USD 290.93 Billion in 2028 | Advancements in Technology and Rising Investment in Research & Development by Market Players is Driving Industry Growth, says Emergen Research

Vancouver, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) --  The global nanotechnology market size is expected to reach USD 290.93 Billion at a steady CAGR of 18.3% in 2028, according to latest analysis by Emergen Research. Nanotechnology market is witnessing increasing growth due to ability of the technology to significantly reduce manufacturing costs, offer products at more cost-effective prices, manufacture smaller, lighter, and more functional devices and products that will require less energy and fewer raw materials to produce.

Nanotechnology finds application in treatment of cancer as well as offers high potential for new and faster computers, life-saving medical treatments, and an efficient power source. Economic disruption and possible threats to privacy and security are some of the potential disadvantages of nanotechnology. Concerns regarding the effects of nanotechnology on health, environment, and safety are some key factors hampering its adoption.

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Application of nanotechnology in various solutions will solve some complex problems. The technology will be useful production of inexpensive products that require few raw materials. Nanotechnology will prove useful in resolving challenges pertaining to food security, health and sanitation, and environment, especially in developing countries. Governments of countries such as China, Brazil, Chile, India, South Africa, Thailand, South Korea, and Philippines have shown interest in nanotechnology and established government-funded programs and research institutes.

In 2021, MIT's Department of Materials Science and Engineering announced the development of a new class of artificially created 2D molecules that can assemble nanoribbons that are stronger than steel and these new molecules do not break down over time.

Some Key Highlights in the Report

• In February 2021, Ceylon Green Produce (Pvt) Ltd. launched an organic product ‘Eco Tablets’ made using nanotechnology to enhance the quality of fuel used in vehicles. The fuel is available in two version, Eco Diesel’, for diesel vehicles and ‘Eco Racing’, for petrol vehicles. It enhances engine performance and efficiency from total fuel combustion and doubles engine lifespan.
• Nanomaterials find application in cosmetics, healthcare, air purification, and environmental preservation applications, among others. Nanoparticles are being developed to deliver drugs to damaged arteries to fight cardiovascular disease and also to help in the transportation of chemotherapy drugs directly to cancerous growths.
• Nanotechnology products are expected to contribute significantly to environmental and climate protection and aid in saving energy and water, raw materials, as well as reduce hazardous waste generation and greenhouse gases. Scientists are working on developing a nanomaterial solution to clean up radioactive waste from water. The technology is also being used to clean up oil spills.
• China has been investing majorly in the field of nanotechnology. The National Natural Science Foundation of China has funded many small and large projects in different areas of nanoresearch and encouraged three major programs in nanomanufacture, nanoscience, and molecular assembly, with a budget of USD 30 million (200 million yuan) each. Such initiatives by the Chinese government is driving growth of the market in Asia Pacific.
• Key players in the market include Fujitsu laboratories, Ltd., Bayer Material Science, Ademtech, GE Healthcare, IBM research, Hewlett-Packard Co., Intel, Altair Nanotechnologies Inc., Cypress Semiconductor, and Cortex Biochem.

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Emergen Research has segmented the global nanotechnology market on the basis of type, industry, and region:

• Type Component Outlook (Revenue, USD Billion; 2018–2028)
  • Nanomaterials
  • Nanocomposites
  • Nano devices
  • Nano tools
  • Others
• Industry Outlook (Revenue, USD Billion; 2018–2028)
  • Food and Agriculture
  • Healthcare
  • Information and Technology
  • Environment
  • Energy
  • Cosmetics
  • Others   

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• Regional Outlook (Revenue, USD Billion; 2018–2028)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. Spain
    5. Benelux
    6. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Taiwan
    6. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Israel
    4. Rest Of MEA

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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