July 21, 2020
According to the report titled ‘Global Smart Nanomaterials Market Analysis, 2020’, available with Market Study Report LLC, global smart nanomaterials market is projected to register a y-o-y growth rate of 34% over 2020-2025.
As per the report, increasing use of nanomaterials in automotive parts, paints, and consumer goods, in tandem with growing applications of nanotechnology across various industries is fueling the growth of global smart nanomaterials market.
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Notably, smart nanomaterials technology possesses special properties which causes particles to respond to an external stimulus, hence, is prominently used in drug delivery, display technologies, and self-healing materials for coatings. Owing their small size and their unique properties, the application reach of smart nanomaterials is extending to various end-users.
Speaking of the end-user, global smart nanomaterials market is categorized into pharmaceuticals, automotive, optoelectronics, construction, consumer goods, energy, environmental, and others. The foremost segment is anticipated to acquire significant market share over the forecast timespan, attributable to a number of innovation & advancements in nanotechnology for the pharmaceutical industry, and continuous research in diseases diagnosis. Further, collaboration between research labs and pharmaceutical companies, along with rising interest among industry giants from other sectors towards investing in this filed will positively impact the overall industry outlook.
Geographically, global smart nanomaterials market is partitioned into North America, Europe, South America, Asia Pacific, and Middle East & Africa. North America market, led by U.S., is supported by huge investments in R&D activities and government support for discovering the commercial application range of smart nanomaterials.
Europe smart nanomaterials material is also expected to witness modest gains, on account of state-of-the-art technologies and advanced infrastructure in this region.
Key players operating in global smart nanomaterials market are Nanologica, NanoBeauty, JM Material Technology, Inc., Donaldson Company, Nanogate, Clariant AG, Bayer AG, BASF SE, Akzo Nobel N.V., and Abbott Laboratories.