Smart Nanomaterials Market Analysis, Opportunity, Challenges With Forecast To 2029


Posted February 3, 2021 by bisrsrch

Focus on Type (Carbon-based, Metal-based, Polymeric), End-Use Industries, and Country-Level Analysis

 
Increasing usage of smart nanomaterials in the healthcare industry, rising application in the automotive and aviation industry, and accelerating use in water treatment applications are some of the key drivers for the global smart nanomaterial market. The pharmaceutical segment is currently the largest smart nanomaterials and is preferred to be used in biosensors, imaging, biomarkers, drug delivery, and many other high-end applications.

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The demand for smart nanomaterials varies according to various geographical regions. The smart nanomaterials market holds a prominent share in various countries of North America, Asia-Pacific (APAC), and Europe.

China is the highest revenue generating country in Asia-Pacific, followed by Japan and South Korea. Rapid industrialization in developed and developing nations coupled with an approach toward lowering the carbon footprint is expected to positively affect the smart nanomaterials market in this region and increasing demand for smart nanomaterials from various industry sectors are expected to drive the demand. Rising CO2 emissions in China and Japan have led to concerns from the countries’ governments across the globe. Various government initiatives have been undertaken to promote the adoption and manufacturing of fuel cell vehicles, as they may help in the reduction of vehicular emissions and act as a potential substitute for petrol and diesel engine-based cars. Additionally, joint efforts by both the governments and the manufacturing sector in promoting the usage of nanotechnology have played a pivotal role in making this region the frontrunner in the field of the smart nanomaterials market.

The competitive landscape of the smart nanomaterials market consists of different strategies undertaken by major players across the entire value chain to gain market presence. Some of the strategies adopted by smart nanomaterials manufacturers are product launches, contracts and agreements, partnerships, and collaborations. Among all the strategies adopted, product launches have dominated the competitive landscape. Product launches accounted for the largest development strategy adopted by key players and recorded for a 40% share in 2018 in the global smart nanomaterials development. BASF SE, Bayer AG, Abbott, and Akzo Nobel N.V. are some of the leading players in the global smart nanomaterials market.

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Most of the smart nanomaterials manufacturers are of similar financial capability, and the industry landscape is not quite competitive because of the small number of players in the market. However, innovation and development have been the key factors for large scale growth in this market. To increase their overall global footprint, manufacturers are expanding their businesses and are also entering into strategic partnerships to target a greater audience.

The global smart nanomaterials market is expected to grow at a significant rate during the forecast period. The increase in the number of end-use industries that are opting for nanotechnology has led to the surging demand for smart nanomaterials. Technological advancements in emerging economies have propelled the market scenario for energy storage systems that are boosting the growth opportunities of the smart nanomaterials market.

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BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

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Tags smart nanomaterials , smart nanomaterials market
Last Updated February 3, 2021