Nanotechnology Market Overview
The Nanotechnology Market size was accounted $50 billion in 2018 and estimated to grow at a CAGR of 18% during the forecast period 2019-2025. The market growth is attributed to increasing application of nanotechnology in various sectors including electronics and semiconductors. In electronics and semiconductors, nanotechnology is being used to improve display screens, decrease power consumption and thickness, and increase the storage capacity of memory chips; while reducing its physical size, which in turn leads to miniaturization of electronic gadgets.
Nanotechnology Market Report Coverage
The report: “Nanotechnology Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the nanotechnology market.
By Type: Nanocomposites, Nanoparticles, Nanotubes, Nano clays, Nano materials, Nano fibers, Nano ceramic Products, Nano magnetics, Nano tools, Nano devices, Others.
By Applications: Medicine and Healthcare Diagnosis, Environment, Energy, ICT,Nano-EHS.
By End Use Industry: Electronics and Semiconductor, Cosmetics, Pharmaceuticals, Biotechnology, Textile, Military and Defense, Healthcare, Food and Agriculture, Automobile, Telecom and Information Technology, Aerospace, Others.
By Geography :North America, South America, Europe, APAC, RoW.
Key Takeaways
Key companies present in the market are seeking collaboration with companies that are active in R&D of Nanotechnology.
The increasing demand for water purification is creating opportunities for nanotechnology based products i.e. through nano-fabric membranes.
In the U.S., increased adoption of nanotechnology has changed the manufacturing scenario in the region, thus propelling the market growth. The major active startups are playing active role in the U.S. nanotechnology market, some of the companies are Moleaer Inc., NDB Inc., Rokk3r, Ike Scientific LLC, and Ligandal Inc.
Nanotechnology Market Segment Analysis - By Type
Nanocomposites segment dominate the market with a share of 65%, and is projected to grow at a CAGR of 16% during the forecast period, attributed to innovation in nanotubes which increases the application scope of nanotechnology in medical and other sectors. Factors such as high tensile strength, better optical and magnetic properties; high resistance to corrosion; high thermal and electronic conductivity boost the demand for nanocomposites in electronics sector.
Nanotechnology Market Segment Analysis - Application
The usage of nanotechnology in drug development will witness growth in the future. Additionally, nanotechnology is also used in diagnostic techniques and anti-bacterial treatments, as gold nanoparticles coupled with infrared light can destroy bacteria. Furthermore, research are being carried to harness electricity produced by nano-generators that are worn by patients, it can be helpful to reduce blood loss and heal the wounds faster. These diverse applications of nanotechnology in healthcare sector will observe further developments, which will support the nanotechnology market growth.
Nanotechnology Market Segment Analysis - By End Use Industry
The Quantum Dot nanotechnology offer accurate color reproduction along with high resolution, and miniaturization of components result in light weight and slim end-products. Hence, listed traits are supporting the increased deployment of nanotechnology in electronics sector, further resulting in growth of the nanotechnology market. The electronics and semiconductor segment is anticipated to dominate the nanotechnology market by 2025, with growing at a CAGR of 19% during the forecast period.
Nanotechnology Market Segment Analysis - By Geography
North America dominated the global nanotechnology market with an estimated share of about 34% in 2018, which was majorly attributed to significant R&D investments in nanotechnology in the region. In the U.S., out of around 600 companies that manufacture Nanotechnology based products, 55 are from construction sector, this shows an interest of companies to cater the use of nanotechnology in construction sector, which will increase the adoption of nanotechnology in the construction sector during the forecast period.
Nanotechnology Market Drivers
High Growth in Electronics and Semiconductors Industry
The electronics and semiconductor industry is one of the fastest growing industries globally that valued $467 billion in 2018, as per IndustryARC’s analysis. Nanocomposites, nano-devices and other nanotechnologies are used in various electronic devices such as smartphones, home appliances, and other electronic gadgets for manufacturing MEMS, screen and different sensors. This results in production of energy efficient devices which are more durable, thereby escalating the demand of nanotechnology by electronics and semiconductor sector.
Growing telecom and IT infrastructure
The telecom and information technology industry has been growing at a rapid pace, owing to increasing commercial deployment of base station in countries such as South Korea, U.S., and China. Thus, the adoption of 5G is anticipated to increase further in next 3-5 years, thereby paving way for development of novel nanoscale computer technologies such as AR and VR, and IoT. Such technological advancements in telecom and IT infrastructure coupled with increasing demand for miniaturized products in small cells and others will open new avenues for nanotechnology market growth.
Nanotechnology Market Challenges
The most challenging aspect in the nanotechnology market is scalability of production. Even though nanomaterials impart an outstanding functional performance in the laboratory or prototype stage, the scalability factor is acting as a major challenge in growth of the nanotechnology market size. However, in future, significant developments such as miniaturization without compromising on product efficiency and various others are expected in nanotechnology with a profitable commercialization in the automotive, aerospace, and sporting goods industry.
Market Landscape
Partnerships and collaborations are key strategies adopted by market players in the nanotechnology market. In 2018, the market is consolidated with the top 5 players accounting for 57% of the market share. The major players in the nanotechnology market include – Showa Denko KK, BASF SE, Pen Inc., Nanosys Inc., QD vision, Arkema, 3rd Tech Inc., ApNano Materials (NanoMaterials Ltd.), ELITechGroup, Bruker Nano GmbH, and QuantumSphere Inc., among others.
Partnerships/Mergers/Acquisitions/Agreements
In 2018, L3 Harris Technologies, Inc. signed an agreement with Dallas-based nanotechnology firm, Peak Nano Optics, LLC (Peak Nano) to acquire a minority stake in the firm with an aim to access its optics technology to strengthen its existing product lines and services to military ISR and commercial customers.
R&D Investments/Funding
The National Nanotechnology Initiative (NNI), the U.S. Government R&D initiative, received more than requested funds from the government in 2017 and 2018, accounting for $1.4 billion in 2018, and $1.2 billion in 2017. Federal organizations with the largest share of investments are the Department of Health and Human Science (HHS), the National Science Foundation (NSF), the Department of Energy (DOE), the Department of Defense (DOD) and the Department of Commerce (DOC). For 2019, NNI has provided an expenditure plan, which involves awarding 39% for foundational research, 28% for developing applications and devices, and 16% for infrastructure and instrumentation.
Nanotechnology Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the nanotechnology market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of nanotechnology based products, and their specific applications in the healthcare, environment, energy and other sectors.
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