Global Nanotechnology Market Outlook
Everything on earth is made up of atoms including the food, buildings, and our bodies. Nanotechnology is a science conducted at the molecular scale and includes the ability to see and control individual atoms and molecules. Rising demand for miniaturization in electronics, environmental concerns, and the need to reduce the consumption of fuel will significantly increase investments in nanotechnology, thus driving the market growth. According to this newly compiled research report from IndustryARC, the global nanotechnology market size was between $45 billion to $50 billion as of 2018, and the market demand will grow at a healthy CAGR of 13% during the forecast period of 2019 to 2025.
Transistors, the basic switches which enable all modern computing mechanisms in electronics, are reducing their size by using nanotechnology. At the turn of the new millennium, a typical transistor was 130 to 250 nanometers in size. In 2015, IBM developed the world’s first seven nanometer transistor, followed by one nanometer transistor by Lawrence Berkeley National Lab in 2016. These advancements are breeding enormous potential and thereby uplifting the nanotechnology market.
As per the nanotechnology market analysis, APAC is the most lucrative region, constituting for a global demand share of around 32% as of the year 2018. The growth in this region is attributed due to the rising nanotechnology research and development expenditures and the usage of nanometers in the context of miniature computing devices, such as integrated circuits and transistors implanted within a processor.
Global Nanotechnology Market: Segment Analysis
Electronics and semiconductor application is dominating among other diverse application segments such as automotive, cosmetics, and textile; it is estimated to grow with a CAGR close to 15% during the forecast period 2019-2025. Many high-performance electronic devices such as LED screens and smartphones depend on Quantum Dot (QD) nanotechnology. QD technology offer high resolution and accurate colour reproduction in these devices. Flexible electronics such as semiconductor nanomembranes which are used for applications in smartphone and e-reader displays have been developed using nanotechnology.
Other nanomaterial such as graphene and cellulosic nanomaterials are being used for various types of flexible electronics to enable wearable and tattoo sensors. DNA nanotechnology trend is expected to create new opportunities for the nanotechnology market in the near future. Nucleic acids are used as non-biological engineering materials for DNA nanotechnology. The field is beginning to be used as a tool to solve basic science problems including applications in x-ray crystallography and nuclear magnetic resonance spectroscopy of proteins to determine structures.