Global Nanomaterials Market size forecast 2024-2030

The Global Nanomaterials Market size is forecast to reach USD 49.24 billion by 2028, after growing at a CAGR of 18.15% during the forecast period 2024-2029. The market for nanomaterials is fueled by increasing demand from multiple industries such as electronics, healthcare, energy, and automotive sectors. Nanomaterials find applications in various products and technologies, including electronics, coatings, batteries, sensors, drug delivery systems, and more. The market is projected to witness significant growth during the forecast period, driven by advancements in nanotechnology, government initiatives promoting nanomaterial research, and increasing investments by major companies. The growing focus on sustainable and eco-friendly materials is also contributing to the market expansion. Multiple uses in the fields of electronics, aerospace, energy storage, biomedical engineering, and more are driving the market for carbon nanomaterials. 

The outbreak of Covid 19 is accelerating the demand for nanotechnologies in various applications which triggers market growth. Increasing demand for nanomaterials to use in COVID-19 vaccines is a major factor contributing to the market growth of Nanotechnology. It has been established that nanomaterials can target both adaptive (T cells, B cells) and innate (macrophages, monocytes, and neutrophils) immune systems at the cellular level. The nanoparticles can deliver or act as an intrinsic adjuvant, with tunable physical loading of antigens. For instance, Pfizer-BioNTech and Moderna COVID-19 mRNA vaccines use a nanoparticle made of lipids or fatty acids that help to carry the mRNA in the body to trigger an immune response. 

Additionally, researchers have also successfully used nanoparticles in the diagnostics of COVID-19. Rapid COVID-19 tests use gold nanoparticles to form the colored band that designates a positive result. Thus, nanotechnology holds a greater potential in the prevention, diagnosis, and treatment of COVID-19. Metallic nanoparticles are mostly intended for diagnostic purposes rather than therapy.

By Product Type: Carbon Black, Carbon Nanotubes, Aptamers, Small Molecules of OLED, Activated Carbon, Carbon Nanotube Composites, and Others; 

By End Use Industry: Healthcare & Life Science (Drug Delivery System, and Others), Aerospace & Automotive (Interior, and Exterior), Air & Water Treatment (Nanofiltration, Water Disinfection, Adsorption of Toxic Gases, and Others), Electronics (Mobiles, Li-Ion Batteries, Transistors, and Others), Cosmetics (Sunscreen, Hair Care, Nails, and Others), Agriculture, Sports, and Others; 

By Geography: North-America, South-America, Europe, Asia Pacific, and RoW.

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