(MENAFN- GlobeNewsWire - Nasdaq) Advances in nanotechnology, as well as an increase in demand across numerous sectors due to their wide range of applications, are driving the growth of the nano compounds market.
Wilmington, Delaware, United States, Transparency market Research Inc. -, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The global nano compounds market (나노 화합물 시장) was projected to attain US$ 15.2 billion in 2022. It is anticipated to garner a 10.1% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 36 billion by 2031.
Nano compounds provide higher mechanical qualities, such as increased tensile strength as well as impact resistance, which contribute to vehicle safety and endurance. Nanoparticles and nanocomposites are used in the manufacture of displays, semiconductors, batteries, sensors, and other electronic components. The unique electrical, thermal, and optical characteristics of nano compounds make them essential for high performance and downsizing in electronic devices.
Nanomaterials enable the development of flexible and wearable electronics, expanding the possibilities for healthcare monitoring systems, consumer electronics, and smart fabrics. The growing need for innovative electronics is projected to provide attractive nano compounds market prospects in the coming years.
Nanomaterials are changing medical diagnostics, medication delivery, as well as tissue engineering, providing remarkable efficacy and precision in various healthcare applications.
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Global Nano Compounds Market: Key Players
Players in the nano compounds market are strategically partnering and heavily spending in thorough research and development initiatives in order to boost innovation and grow their business lines in both domestic and foreign markets. The following companies are well-known participants in the global nano compounds market:
Makevale Acrylics Pvt. Ltd Ad-Nano Technologies Cabot Corporation Phosphorex Nanomakers TECNAN Nanocyl SA Nanophase Technologies Corporation Emfutur Technologies Nanoshel LLC Others
Key developments by the players in this market are:
In February 2021, Nanomakers boosted their yearly nanoparticle production by five times, hitting 40 tons per manufacturing line. This growth satisfies the growing need for mass market quantities, especially in the semiconductor and electric car battery sectors. Birla Carbon acquired Nanocyl SA on October 11, 2023. Birla Carbon's presence in the energy systems industry was expanded by the purchase, especially in materials that are essential to improving the performance of lithium-ion batteries and other conductive application areas. Birla Carbon now provides a wide range of solutions for different conductive applications with the addition of Nanocyl's advanced multiwall carbon nanotubes (MWCNTs) to its portfolio, in addition to the Conductex family of conductive carbon black additives and active anode materials.
Key Findings of the Market Report
The capacity of nanocomposites to improve the mechanical, electrical, thermal, and barrier qualities of host materials is one of the primary drivers behind their dominance in this global market. Nanocomposites can significantly enhance strength, stiffness, and toughness by spreading nanoparticles or nanofibers inside a polymer, metal, or ceramic matrix. This makes them ideal for applications that require lightweight yet durable materials, including as automobile components, aeronautical structures, and sporting products. Nanocomposites have high thermal stability, electrical conductivity, and resistance to corrosion and wear, making them excellent for application in electronics, energy storage devices, and protective coatings.
Market Trends for Nano Compounds
Chemical vapor deposition (CVD) is the dominating manufacturing technology, providing exceptional accuracy, scalability, and variety in the synthesis of nanomaterials. CVD is the deposition of thin films or coatings onto surfaces via chemical processes in the vapor phase, resulting in nanostructures with controlled composition, shape, and characteristics. This technology is widely used in industries like electronics, energy, aerospace, and healthcare, resulting in its popularity in the global nano compounds market. The CVD process is scalable and cost-effective, making it ideal for large-scale synthesis of nanomaterials to fulfill commercial demands. CVD may be easily scaled up to generate nanomaterials in continuous or batch processes, depending on the unique application needs.
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Global Market for Nano Compounds: Regional Outlook
The Asia-Pacific region is dominant. Rapid development, technological improvement, and increased demand from major sectors are all driving market dynamics in the region. Asia Pacific is positioned to dominate in the production, use, and acceptance of nano compounds across multiple industries, thanks to its huge and diversified manufacturing base and a rising emphasis on innovation and sustainability. A strong manufacturing sector, which includes automotive, electronics, aerospace, healthcare, and construction, is a major market driver. The region's countries are home to prominent electronics manufacturers who produce a wide range of consumer goods, smartphones, tablets, and wearables. Nano compounds have an important role in allowing the downsizing, performance increase, and energy efficiency of electronic equipment, which drives their broad use across these regions.
Global Nano Compounds Market Segmentation
By Types
Nanoparticles Nanocomposites Nanocrystals
By Production Methods
Chemical Vapor Deposition Physical Vapor Deposition Sol-Gel Synthesis Mechanical Mining Others
By Application
Electronics and Semiconductor Industry Healthcare and Pharmaceuticals Automotive and Aerospace Construction and Infrastructure Packaging Power Generation Paints & Coatings Others
Region
North America Latin America Europe Asia Pacific The Middle East & Africa
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