IMARC Group, a leading market research company, has recently releases report titled “Nanochemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global nanochemicals market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
What is Nanochemicals?
Nanochemicals are chemical compounds that utilize nanotechnology to modify conventional chemical building blocks like butanes, ethane, and propane. Through this process, these nanoscale chemicals undergo structural changes to enhance their efficiency. They possess advantageous properties such as self-catalysis and anticorrosion, surpassing the capabilities of their conventional counterparts.
With their remarkable mechanical and electrical characteristics, nanochemicals play a vital role in the production of carbon nanomaterials like carbon nanotubes (CNTs) and graphene fullerenes. These chemicals facilitate faster chemical reactions while minimizing potential risks to both health and the environment. Currently, carbon nanotubes are widely utilized nanochemicals that offer enhanced strength for various applications.
What are the growth prospects and trends in the Nanochemicals industry?
The escalating demand for chemical products with several phases to enhance chemical reactions and maximum product yield is among the key factors stimulating the nanochemicals market. Moreover, the widespread adoption of engineered chemicals in various end-use sectors, such as chemicals, cosmetics, food and beverages, etc., is acting as another significant growth-inducing factor. Apart from this, the rising usage of nanotechnology in nanochemical catalyst designing applications is positively influencing the global market. Furthermore, continuous technological advancements in the formulation of safer agrochemicals are also propelling the market growth. Besides this, the increasing consumer environmental concerns are resulting in the uptake of nanochemicals for an extensive range of industrial applications, which is further bolstering the global market. Additionally, they are used in the manufacturing of multifunctional coatings with inflated durability and self-cleaning properties, which is expected to fuel the nanochemicals market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Metallic Nanochemicals
- Ceramic Nanochemicals
- Polymer Nanochemicals
- Others
Breakup by Application:
- Semiconductors and Electronics
- Pharmaceuticals
- Food and Agriculture
- Energy
- Textiles
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Azelis
- BASF SE
- Evonik Industries AG
- Harima Chemicals Group Inc.
- Merck KGaA
- Thermo Fischer Scientific Inc.
- Toyo Ink Mfg. Co. Ltd.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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