Zion Market Research has published a new report titled “Nanomaterials Market (Metal Oxide, Metals, Chemicals & Polymers and Others) for Construction, Chemical Products, Packaging, Consumer Goods, Electrical and Electronics, Energy, Health Care, Transportation and Other Applications: Global Market Perspective, Comprehensive Analysis and Forecast, 2016 – 2022 ”. According to the report, global nanomaterials mmarket wasalued at USD 7.3 billion in 2016 and is expected to reach USD 16.8 billion in 2022, growing at a CAGR of 15.5% between 2017 and 2022.
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Nanomaterials are materials or chemical substances that are manufactured and consumed on a very small scale. These materials are developed to reveal novel characteristics as compared to the same material without nanoscale features, like chemical reactivity, high strength, conductivity etc. In other words, nanomaterial can be defined as “material with external dimension in nanoscale size that ranges from about 1-100 nm or having a surface structure or internal structure in the nanoscale.
Nanomaterials which are naturally occurring like volcanic ash, soot from forest fires etc., are physically and chemically heterogeneous, and are often known as ‘ultrafine particles’. Whereas, engineered nanomaterials are produced and designed with the specific physical and chemical properties for a particular purpose. Nanomaterials are widely used in products like batteries, coatings, anti-bacterial clothing etc.
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Global nanomaterials market is segmented into type, application, and region. The type segmentation includes metal oxides, metals, chemicals & polymers, and others. Chemical and polymers segment was the leading application segment of the market owing to its wide applications in nanopharmaceuticals, liposomes as well as various other chemicals & polymers. Construction, chemical products, packaging, consumer goods, electrical & electronics, energy, health care, transportation and others are the application segments of the global nanomaterials market. Chemical products segment accounted for the largest market share of the nanomaterials market. Healthcare segment is anticipated to emerge as the fastest growing segment in the coming years. Global nanomaterials market is bifurcated into; North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America was the dominant region in 2016 and is likely to register high CAGR over the forecast period owing to the extensive usage of nanotubes in various industries like electronics, chemical products and pharmaceuticals in the region. Europe held a significant market share in the global nanomaterials market. The Asia Pacific is expected to be the fastest growing region due to the demand from emerging countries like India and China.
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Some of the key players operating in the global nanomaterials market include BASF, Evonik Industries, Covestro, Altair Nanotechnologies Inc., EMFUTUR Technologies and SkySpring Nanomaterials among others.
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