The global market for nanochemicals is expected to witness a growth, demonstrating a CAGR of 6.3% during the forecast period. Increasing usage of nanochemicals in applications such as armor design, bicycle manufacturing, military weapons and chemical warfare, along with growing demand from end user industries including energy storage, agriculture, automotive, and healthcare are some of the factors driving the global market. Carbon nanotubes are majorly used for applications which require strong materials in bicycles and smart materials. Smart materials are materials that are specifically designed so that its properties can be altered with the usage of an external stimulus such as pH, stress, temperature, and others. Some of these smart materials are piezoelectric materials, shape memory materials, self-healing materials, and ferrofluids. These are used for applications including light sensitive glasses, memory based solar panels for satellites, memory pillows, and several other applications.
Specialized nanochemical materials are tailored to perform a specific function or a task. They have a vast application base which includes usage in dental filling (dental amalgam), electronic equipment (high purity silicon and germanium), machine tools (high tungsten high carbon steel) and several others.
With the rise in investments for research and developments of nano technology, there is immense scope for scientific assessment of benefits and risks of nanochemicals. This development can help in comprehending the potential environmental and health safety effects of nanotechnology. However, hazardous and destructive nature of nanochemicals is likely to restrain the usage to a certain extent.
By type, metallic nanochemicals witnessed fastest growth in the global market in 2015, followed by polymer and ceramic type. With the development of new batteries that are less combustible, offer quick charging, efficient, lighter weight, and have a high-power density, the demand for nanochemicals is expected to increase. Moreover, nanochemicals are also being used for epoxy containing carbon nanotubes, which are required in the manufacturing of windmill blades.
Leading players in the global nanochemicals market include Huntsman Corporation, E. I. Du Pont de Nemours and Company, Akzo Nobel, Rhodia S.A., Bayer CropScience AG, Sea Spray Aerosol Inc., Advanced Nano Products Inc., Graphene NanoChem Plc, Nano Chemical Systems, BASF SE, ELANTAS Beck India Limited, and The Dow Chemical Company.
The information and data in the publication “Global Nanochemicals Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. Bottom-up and top down approach has been used to calculate the market size. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
GLOBAL NANOCHEMICALS MARKET SEGMENTATION