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Nanomaterials Market size was valued at USD 9.48 billion in 2019 and is poised to grow from USD 10.88 billion in 2023 to USD 32.83 billion by 2031, growing at a CAGR of 14.8% in the forecast period (2024-2031).

Key industry players spend a lot of money on product and service innovation and making products that are tailored to the needs of customers.Numerous prominent players have been employing a variety of business strategies, including application development, capacity building, business expansion, collaborations, mergers and acquisitions, and so on, in order to maintain their level of competition in the market. 'BASF SE', 'DuPont de Nemours, Inc.', 'Evonik Industries AG', 'Arkema S.A.', 'Cabot Corporation', 'NanoMas Technologies, Inc.', 'Nanophase Technologies Corporation', 'Advanced Nano Products Co., Limited', 'EPRUI Nanoparticles & Microspheres Co. Ltd.', 'Graphene NanoChem plc', 'Hyperion Catalysis International, Inc.', 'Nanocyl SA', 'Nanosys, Inc.', 'QuantumSphere, Inc.', 'Showa Denko K.K.', 'Sun Chemical Corporation', 'Bayer AG', 'NanoMaterials Ltd.', 'Nanoshel LLC', 'Nanoscale Corporation'

The value sales growth of the market is being driven by the rising demand for nanomaterials in the electronic industry over the forecast period. Due to the rise of the digital revolution, a variety of consumer electronics have seen rapid growth among consumers in recent years. The demand for high-tech consumer electronics is being driven by consumers' rising disposable income in developing economies. The market is anticipated to expand in the coming years as a result of rising investments in research and development for the production of efficient and long-lasting electronic goods. In addition, the value sales growth of the market is anticipated to be bolstered by increased R&D efforts to manufacture new nanomaterials.

The personal care industry is booming, which is likely to provide enormous opportunities for the growth of the nanomaterials market in terms of value sales during the forecast period. This is because of the rise in consumers' disposable personal incomes. Cosmetics and skin care products are incorporating nanoparticles.For instance, oxide nanoparticles minimize the white coating on the skin and block ultraviolet rays. As a result, the adoption of nanomaterials in the personal care industry is likely to present enormous opportunities for market expansion in terms of value sales during the forecast period.

Asia Pacific dominated the nanomaterials market and accounted for the largest revenue share of 35.5% in 2021. The growing use of nanomaterials in the electronics, medical equipment, aerospace and defense, textile, and automobile industries is to blame for the expansion. The market's expansion in North America can be attributed to the region's reputation as a manufacturing powerhouse. Consistent endeavors in the Research and development of nanomaterials and nanotechnology, to investigate likely applications in different end-use enterprises, are supposed to drive the provincial market over the estimate period.Market expansion is anticipated to be aided by rising product demand from nanoelectronics and microelectronics due to rising use of advanced devices.

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Global Nanomaterials<b> </b>Market

Product ID: SQMIG15B2044