Forecast Period | 2025-2029 |
Market Size (2023) | USD 680.34 Million |
CAGR (2024-2029) | 7.24% |
Fastest Growing Segment | Electronics & Semiconductor |
Largest Market | North America |
Market Size (2029) | USD 1023.35 Million |
Market Overview
Global Nanoscale Chemicals and Materials
Market was valued at USD 680.34 Million in 2023 and is anticipated to project steady
growth in the forecast period with a CAGR of 7.24% through 2029. Nanoscale
materials encompass a diverse group of substances characterized by dimensions
smaller than 100 nanometers, exhibiting unique optical, magnetic, or electrical
properties. Examples include ultrafine particulate matter found in
environmental settings. Manufacturers can customize nanoscale materials by
controlling their size, shape, composition, and surface features, enabling
tailored functionalities for various applications. Due to their high surface
area-to-volume ratio and quantum effects, nanomaterials often display enhanced
mechanical strength, catalytic activity, conductivity, and optical
characteristics compared to larger-scale equivalents.
In electronics, nanoscale materials are
valued for improved conductivity, enhanced thermal properties, and the ability
to facilitate miniaturization. They are employed in applications such as
nanoscale transistors, memory devices, and conductive coatings. In healthcare,
nanoscale materials are utilized in drug delivery systems, diagnostics, and
medical devices for precise targeting, enhanced bioavailability, and improved
therapeutic outcomes.
Nanoscale materials significantly
enhance energy technologies, improving both storage (batteries, capacitors) and
conversion (solar cells, fuel cells). They contribute to increased efficiency,
reduced weight, and enhanced durability in these applications. In environmental
fields, they play a vital role in water treatment with nanofiltration
membranes, air purification using nanoparticle-based filters, and remediation
technologies employing nanoparticle catalysts for pollutant degradation.
Additionally, nanoscale materials are integral to industries like cosmetics,
textiles, coatings for self-cleaning surfaces, and electronics, such as
scratch-resistant screens.
Despite their promising potential,
nanoscale materials present challenges related to safety, environmental impact,
and regulatory considerations. As research advances and applications expand,
nanoscale materials are anticipated to play an increasingly pivotal role in
shaping technology, healthcare, and sustainability in the future.
Key Market Drivers
Growing Demand for Electric Vehicles
The
automotive industry's expansion as a catalyst for the adoption of nanoscale
chemicals and materials underscores its dedication to innovation, efficiency,
and sustainability. Automakers are increasingly prioritizing the reduction of
vehicle weight to enhance fuel efficiency and lower emissions. Nanomaterials
like carbon nanotubes, graphene, and nanostructured metals offer superior
strength-to-weight ratios, enabling the creation of lightweight components
without compromising safety or performance. For example, BMW's i3 electric
vehicle extensively incorporates CFRP body panels reinforced with nanoscale
materials, significantly reducing overall vehicle weight.
Advanced
materials also optimize engine performance by reducing frictional losses
through nanomaterial-based lubricants and coatings, thereby enhancing fuel
efficiency and prolonging service life. Integration of nanoscale materials in
automotive electronics and sensors facilitates the development of smart systems
for autonomous driving, driver assistance, and connectivity, enhancing sensor
miniaturization, sensitivity, and responsiveness.
Global
emissions regulations are driving the adoption of nanotechnology in automotive
catalysis, where nanoscale catalysts improve the efficiency of exhaust gas
treatment systems, reducing emissions of pollutants such as nitrogen oxides
(NOx) and particulate matter.
Furthermore,
advancements in battery technology leverage nanomaterials like silicon
nanoparticles in anodes or nanostructured cathode materials to enhance energy
density, charge-discharge rates, and cycle life. Improved battery performance
extends the driving range and accelerates charging times, bolstering the
broader adoption of electric vehicles (EVs). For instance, Mercedes-Benz plans
to adopt silicon anode batteries in its EQG model from 2024, increasing the
recharge range by 20%.
According
to IBEF, the global EV market was valued at approximately US$ 250 billion in
2021 and is projected to grow fivefold to US$ 1,318 billion by 2028. In April
2024 alone, global production figures for passenger vehicles, three-wheelers,
two-wheelers, and quadricycles totaled 2,358,041 units.
As
the automotive industry continues to innovate, nanotechnology plays a pivotal
role in shaping the future of mobility towards more sustainable and
technologically advanced vehicles.
Growth of Electronics Sector
The
expansion of the consumer electronics sector is a significant driver behind the
growing demand for nanoscale chemicals and materials. This growth stimulates
innovation, enhances device capabilities, and aligns with the evolving
preferences of tech-savvy consumers worldwide. Manufacturers continuously
strive to miniaturize devices, reduce weight, and increase power, objectives
facilitated by nanoscale materials that enable the development of smaller
components with superior performance characteristics such as enhanced
conductivity, improved thermal management, and greater durability.
An
example of this can be observed in the adoption of nanoscale materials like
quantum dots in display technologies such as QLED and OLED. This technological
progression drives their integration across a broad spectrum of consumer
electronic devices, meeting consumers' expectations for vivid and
energy-efficient screens.
In
2023, Canon introduced the FPA-1200NZ2C Nano-imprint Lithography (NIL)
semiconductor equipment, showcasing how nanotechnology revolutionizes
semiconductor manufacturing. This equipment enables the creation of intricate
2D or 3D circuit patterns with a single imprint, potentially paving the way to
produce 2nm chips and beyond.
The
increasing popularity of wearable devices such as smartwatches and fitness
trackers underscore the necessity for flexible, lightweight, and durable
materials. Nanomaterials are essential in developing components such as
sensors, conductive textiles, and flexible electronics that are integral to the
functionality and comfort of wearable technology.
As
Internet of Things (IoT) devices proliferate, there is a rising demand for
compact yet powerful sensors, actuators, and communication modules. Nanoscale
materials facilitate the integration of IoT functionalities into everyday
objects, driving the expansion of interconnected devices and augmenting their
capabilities. An industry example illustrating this trend is the collaboration
between Arduino and Espressif in 2023 to launch the Nano ESP32 Dev Board. Across
displays, semiconductor manufacturing, wearable technology, and IoT devices,
nanoscale materials play a critical role in advancing technological innovation
and meeting the evolving expectations of consumers for more efficient and
capable electronic devices.
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Key Market Challenges
Cost of Production and Scaling
The
nanoscale chemicals and materials market face significant challenges related to
production costs and scaling. Manufacturing nanoscale materials often demands
specialized equipment and processes, which are expensive to procure and
maintain. The initial investment and ongoing operational expenses can be
particularly burdensome for smaller companies and startups.
The
complexity of synthesis and purification processes further drives up
operational costs, making large-scale production of items like quantum dots
economically challenging. Achieving economies of scale poses additional hurdles
due to the need for precise control over particle size, shape, and purity requirements
that are more difficult to consistently meet at higher production volumes. This
necessitates advanced process engineering and optimization to ensure uniformity
and quality across batches.
Scaling
up production of materials such as carbon nanotubes presents specific
challenges, as maintaining consistent parameters like diameter, length, and
purity becomes increasingly complex at larger volumes. Process optimization and
advanced manufacturing techniques are crucial to achieving economies of scale
while preserving material performance.
Despite
the exceptional properties of graphene, its production remains costly.
Techniques like chemical vapor deposition (CVD) or exfoliation from graphite
involve expensive equipment and require meticulous control over deposition
conditions. These factors contribute to the high production costs associated
with graphene. Managing uncertainties in raw material prices, regulatory
requirements, and fluctuations in demand adds further complexity to cost
management and necessitates robust risk mitigation strategies.
Regulatory Concerns
Nanomaterials
can exhibit distinct properties from their larger-scale counterparts,
potentially posing risks to human health and the environment. Regulatory bodies
are focused on understanding and addressing these risks through appropriate
testing and regulation. However, uncertainties persist regarding the
physicochemical properties, environmental behavior, and toxicological effects
of nanomaterials. Testing often occurs early in the product development stage,
and the final product can behave differently. Nanomaterials possess unique
characteristics that necessitate novel approaches to risk assessment.
Regulatory agencies encounter challenges in evaluating these risks due to
limited data on long-term effects. In the European Union (EU), an increasingly
significant strategy for nano safety is the concept of safe-by-design, ensuring
the safety of nanomaterial-based products throughout their lifecycle, from
production to disposal or recycling. This concept, originally developed within
the EU NANoREG flagship project, aligns with established principles of
safe-by-design in industrial innovation.
Several
Canadian departments and agencies, such as Health Canada, Environment and
Climate Change Canada, Agriculture and Agri-Food Canada, and the Canadian Food
Inspection Agency, conduct risk assessments of nano plastics. Their regulatory
focus includes mitigating risks, compiling an inventory of
nanomaterial-containing products on the market, and assessing the biological
impacts of specific nanomaterials. Regulatory frameworks for nanomaterials vary
significantly across countries and regions globally. The lack of international
harmonization presents barriers to market entry and increases compliance costs
for businesses operating internationally. The rapid evolution of
nanotechnologies often surpasses existing regulatory frameworks, causing
uncertainty for manufacturers and investors. This uncertainty, exacerbated by
ambiguous guidelines, can impede innovation and hinder market growth.
Key Market Trends
Growing Use in Environmental
Remediation
The
adoption of nanoscale chemicals and materials in environmental remediation
reflects a global shift towards more effective, sustainable, and
technologically advanced methods to combat environmental pollution and preserve
natural resources. Nanomaterials are versatile, being applied across diverse
environmental contexts such as soil, groundwater, sediments, and wastewater,
offering flexible solutions to various contamination challenges. This trend is
fueled by increasingly stringent regulatory standards worldwide, pushing
industries towards innovative technologies like nanotechnology to achieve
cleaner and safer remediation practices.
For
instance, ASUS introduced the VU series monitors in 2024, featuring integrated
nano-ion air purification technology. This advancement not only improves air
quality by removing particles and inhibiting pathogens like viruses and
bacteria but also incorporates sustainable elements such as halogen-free PCB
boards and casings made from 85% recycled plastic. These monitors exemplify how
nanotechnology is being leveraged to enhance everyday products with
environmental benefits.
Amida
Cleantech, based in New Delhi, has developed a pioneering filter less air
purification system. This technology, nearing US patent approval in 2023,
targets large-scale outdoor, semi-outdoor, and indoor environments. It
underscores the importance of nanotechnology in creating scalable solutions for
air quality improvement, as evidenced by its global patent filings and
publication in scientific journals like the Journal of Sol-Gel Science and
Technology.
In
another breakthrough, scientists at the Materials Research Centre (MRC) of the
Indian Institute of Science (IISc) have engineered a novel enzyme mimetic
capable of degrading toxic chemicals in industrial wastewater when exposed to
sunlight. This innovation showcases nanotechnology's role in developing
advanced materials that enhance environmental sustainability through efficient
pollutant removal.
Iran's
creation of the world's largest ozone reactor for drinking water treatment in
2024 illustrates the application of nanotechnology on a large scale. This
reactor generates ozone nanobubbles, demonstrating how nanomaterials can be
pivotal in developing cutting-edge technologies for water purification and
environmental protection.
These
examples highlight ongoing advancements in nanotechnology research and
development, emphasizing its pivotal role in advancing environmental
remediation strategies worldwide. As research progresses, nanomaterials
continue to evolve, promising even greater efficacy, stability, and safety in
addressing environmental challenges and driving their widespread adoption
across various industries.
Segmental Insights
Type Insights
Based
on Type, the Nanoparticles emerged as the dominant segment in the global market
of Nanoscale Chemicals and Materials in 2023. This dominance arises from their remarkable adaptability,
distinctive characteristics, wide-ranging utility, continuous technological
progress, economic feasibility, and regulatory approval. For example, in the
medical field, nanoparticles play a crucial role in targeted drug delivery
systems, leveraging their small size to effectively infiltrate cells for
therapeutic applications. In electronics, nanoparticles are integral to
cutting-edge materials like conductive inks and quantum dots, boosting the performance
of electronic devices and displays. Additionally, their high ratio of surface
area to volume and heightened reactivity are essential in catalysis,
environmental cleanup initiatives, and sensing innovations. Ongoing
advancements in research and development further refine nanoparticle
manufacturing and functionalization methods, bolstering their adoption and
commercial success.
End User Insights
Based
on end user, the Healthcare & Pharmaceuticals segment emerged as the dominant
in the global market of Nanoscale Chemicals and Materials in 2023.This can be
attributed to their capacity to significantly enhance treatment outcomes,
accuracy in diagnostics, and overall patient care through groundbreaking
nanotechnology solutions. Ongoing
advancements in nanotechnology research and development are driving continuous
innovation in drug delivery systems, diagnostics, and personalized medicine. Cornell
University researchers developed nanofiber-coated cotton bandages infused with
lawsone, known for its antioxidant and antibacterial properties, to combat
infections and accelerate wound healing. At Sahmyook University, scientists
pioneered a novel drug delivery system for skin cancer treatment using
nanofibers layered with thermosensitive and poly-ionic coatings alongside gold
nanorods, precisely targeting cancer cells. In 2024, Nanoform Finland advanced
medicine with trials evaluating the bioavailability of their
nanocrystalline-enabled alternative to Xtandi's conventional formulation,
aiming to enhance prostate cancer treatment efficacy. Avery Pharmaceuticals,
under Arrow Greentech, commenced commercial production of pharmaceutical and
nutraceutical products, including innovative nanotechnological formulations
like sublingual films and Nanofilms. These advancements underscore
nanotechnology's pivotal role in revolutionizing medical treatments, enhancing
drug delivery systems, and driving significant innovations in healthcare
globally. Significant
investments from pharmaceutical firms and academic institutions play a crucial
role in supporting these developments. Moreover, regulatory frameworks are
increasingly accommodating the safe integration of nanotechnology into medical
applications, which further contributes to its expanding influence and
dominance in the market.
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Regional Insights
Based
on Region, Asia-Pacific emerged as the fastest growing region in the global
market of Nanoscale Chemicals and Materials in the forecast period. This growth
can be attributed to dynamic economic expansion, significant investments in
technology, and supportive government policies in the Asia-Pacific region.
Countries such as China, India, and South Korea are experiencing rapid
industrialization, which fuels demand for advanced materials and technologies,
including nanoscale chemicals and materials. The increasing middle-class
population and rising disposable incomes in China and India are driving
consumer demand for nanotechnology-based products, further stimulating market
growth. Governments across Asia-Pacific actively promote nanotechnology through
funding initiatives and supportive policies like India's Mission on Nano
Science and Technology (Nano Mission), which fosters a conducive environment
for market expansion. In 2024, Huawei introduced the Pura 70 smartphone
featuring a new 7-nanometer HiSilicon chip manufactured by Semiconductor
Manufacturing International Corp (SMIC), showcasing advancements in
nanotechnology adoption. Additionally, collaborative efforts between NY CREATES
and the National Nano Fab Center in Korea aim to establish a shared hub for
joint semiconductor research, technology services, and workforce development,
bolstering high-tech ecosystems in both nations. Fawoo Nanotech Co. stands out
as the sole company worldwide capable of creating and commercializing ultrafine
bubbles, known as nano bubbles, in water, offering innovative solutions for gas
absorption and water treatment applications. These developments underscore
partnerships between academia, industry, and government that drive growth and
innovation in the nanoscale chemicals and materials market.
Recent Development
- In 2023, LG Chem from South Korea began
supplying Mitsubishi Motors in Japan with Lucon TX5007, a grade of engineering
plastic compounds filled with carbon nanotubes (CNT). These materials are used
for the injection-molded front fenders of Mitsubishi's RVR, Delica D:5, and
Outlander models. The electrical conductivity of the CNT-filled polyphenylene
ether (mPPE) and polyamide (PA66) alloy, known as Lucon TX5007, allows the
fenders to be powder-coated.
- In 2024, Carbonova, a cleantech startup
based in Calgary, completed a $6 million funding round aimed at converting
greenhouse gas (GHG) emissions into carbon nanofibers used in everyday
products. The financing, raised through a simple agreement for future equity,
was led by Kolon Industries, a Korean chemical and textile manufacturer, with
participation from Natural Gas Innovation Fund Capital in Ottawa, a venture
firm specializing in cleantech investments.
- In May 2024, SiAT, a Taiwanese
manufacturer specializing in battery nanomaterials, collaborated with Taiwan
C.S. Aluminum Corporation (CSAC) to launch carbon nanotube (CNT) coated
aluminum foil. This innovation aims to enhance charging speed and prolong the
lifespan of lithium-ion batteries, sodium batteries, and supercapacitors.
Key Market Players
- American
Elements
- Quantum
Materials Corporation
- Evonik
Industries AG
- Strem
Chemicals, Inc.
- SkySpring
Nanomaterials, Inc.
- Nanoshel
LLC
- Arkema
- BASF
SE
- US
Research Nanomaterials, Inc.
- Advanced
Nano Products Co Ltd
|
By Grade
|
By
Type
|
By End User
|
By Region
|
- Industrial Grade Nanoscale Chemicals
- Pharma Grade Nanoscale Chemicals
|
- Nanoparticles
- Nanocomposites
- Nanotubes
- Nanofilms
- Nanofibers
- Others
|
- Healthcare &
Pharmaceuticals
- Electronics &
Semiconductor
- Automotive
- Aerospace & Defense
- Energy
- Others
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
|
Report Scope:
In this report, the Global Nanoscale Chemicals and Materials
Market has been segmented into the following categories, in addition to the
industry trends which have also been detailed below:
- Nanoscale Chemicals and Materials Market, By Grade:
o Industrial Grade Nanoscale Chemicals
o Pharma Grade Nanoscale Chemicals
- Nanoscale Chemicals and Materials Market, By Type:
o Nanoparticles
o Nanocomposites
o Nanotubes
o Nanofilms
o Nanofibers
o Others
- Nanoscale Chemicals and Materials Market, By End User:
o Healthcare & Pharmaceuticals
o Electronics & Semiconductor
o Automotive
o Aerospace & Defense
o Energy
o Others
- Nanoscale Chemicals and Materials Market, By
Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents in the Global Nanoscale
Chemicals and Materials Market.
Available Customizations:
Global Nanoscale Chemicals and Materials Market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
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