New York, April 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nanomaterials Global Market Report 2023" - https://www.reportlinker.com/p06233728/?utm_source=GNW
, Sumitomo Corporation, Showa Denko, Zyvex Technologies, US Research Nanomaterials Inc., Nanocomposix Inc., Frontier Carbon Corporation, Nanoshel LLC, SkySpring Nanomaterials Inc., Cytodiagnostics Inc., Strem Chemicals Inc., and American Elements.
The global nanomaterials market grew from $12.68 billion in 2022 to $14.65 billion in 2023 at a compound annual growth rate (CAGR) of 15.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nanomaterials market is expected to grow to $26.91 billion in 2027 at a CAGR of 16.4%.
The nanomaterials market consists of sales of inorganic-based nanomaterials, organic-based nanomaterials, nanofibers, and composite-based nanomaterials.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Nanomaterials refer to a type of material having internal structures of 100 nm or less or at least one exterior dimension that is 100 nm or less, and based on research, they use improvements in materials metrology and synthesis gained in favour of microfabrication studies to offer a materials science-based perspective on nanotechnology.
North America was the largest region in the nanomaterials market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the nanomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main material type of nanomaterials is carbon-based nanomaterials, metal & non-metal Oxides, metal-based nanomaterials, dendrimers nanomaterials, nano clay, nanocellulose, and others.The carbon-based nanomaterials are made of carbon nanotubes, graphene, and fullerenes.
Carbon-based nanomaterials are used in biomedical fields such as biosensors, cancer therapy, tissue engineering, and delivery of therapeutics. The different types of structures include non-polymer organic nanomaterials, and polymeric nanomaterials and are used by various sectors such as paints and coatings, adhesives and sealants, health care and life science, energy, electronics, consumer goods, personal care, and other users.
The increase in the usage of nanomaterials in the healthcare industry across the globe is contributing to the growth of the nanomaterials market.Nanomaterials are employed in the healthcare industry to target abnormalities in individual cells and even sub-cells and to boost the action of vaccinations and medicines by easily accessing the body.
Hence, the demand for nanomaterials is rising with the increase in the application of nanomaterials in healthcare.For instance, according to the Press Trust of India (PTI), an India-based press company report published in 2021, worldwide, there are around 400 major nanotech companies of which, half of the companies are nanomedicine related.
In addition, out of the total 30 to 40 major nanotech companies in India, half are related to healthcare. Therefore, the growing presence and usage of nanomaterials in the healthcare industry are expected to fuel the growth of the nanomaterials market over the forthcoming years.
Product innovations are shaping the nanomaterials market.Major companies operating in the nanomaterials sector are focused on new product innovations to meet customers’ demands and increase their market share.
For instance, in 2020, Carnegie Mellon University launched a biosensing platform based on advanced nanomaterials.This biosensing platform identifies SARS-CoV-2 antibodies in a few seconds, a virus responsible for the COVID-19 pandemic.
Not only testing but also the platform calculates the patient immunological response to the new vaccines. The biosensing platform based on advanced nanomaterials can also be used for the detection of other infectious diseases.
In April 2020, Cabot Corporation, a US-based global specialty performance materials, and chemicals company acquired Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) for a $115 million deal amount. Through this acquisition, Cabot’s market position and formulation skills in the high-growth batteries sector, especially in China, the world’s strongest and quickest expanding electric vehicle market, have been greatly strengthened. Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) is a China-based company that manufactures carbon nanotubes (CNTs) and dispersions.
The countries covered in the nanomaterials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The nanomaterials market research report is one of a series of new reports that provides nanomaterials market statistics, including nanomaterials industry global market size, regional shares, competitors with a nanomaterials market share, detailed nanomaterials market segments, market trends and opportunities, and any further data you may need to thrive in the nanomaterials industry. This nanomaterials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06233728/?utm_source=GNW
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