Global Nanotechnology Industry Analysis
The world nanotechnology market is expected to exceed $30 billion by 2015, according to research from Global Industry Analysts. The nanotechnology industry (as part of the advanced materials sector) develops technology used to manufacture products in new ways, and is more effective than previously existing technologies.
The global nanotechnology industry was hit by the economic recession, slowing growth. However, demand for nanotechnology-enabled products – particularly from the defense, pharmaceutical and healthcare sectors – has enabled the market to weather the storm. These sectors were less affected by the harsh economic climate than other end-use industries, cushioning the nanotechnology market from the blow of the recession.
Increased investment from government and private sectors has enabled players in the nanotechnology industry to carry out beneficial research and development initiatives. Growth in other markets like automotives, electronics, semiconductors and chemicals has also helped spur recovery, with the industry expected to see strong growth over the coming years.
The global nanobiotechnology market is expected to hit the $6 billion mark in 2017, according to research from Global Industry Analysts. Technology advancements along with government and private funding for research and development in emerging markets will fuel market growth. Mass integration of nanotechnology in the communication and information technology sectors has driven growth in the nanobiotechnology industry. The nanobiotechnology market’s rapid growth is expected to continue, particularly in the targeted drug delivery therapies segment of the oncology market. Nano-oncology refers to the application of nanobiotechnology in treating cancer. This sector is set to witness expansion following progress using gold nanoparticles and quantum dots in molecular diagnosis of cancer. Other factors, such as developments in nanobiosensors and the discovery of cancer biomarkers, will also drive market growth. Segments set to see the highest level of investment in research and development include monoclonal antibody nanoparticle complexes in the context of diagnosis and cancer drug delivery, nanoparticle-based optical imaging of tumors, and nanoparticle-based chemotherapeutic drugs.
Global demand for nanomaterials is expected to more than double by 2016, driving the market to almost $6 billion, reports Freedonia. Market growth will be fuelled by greater market penetration of existing materials and continuing development of new materials and applications. Nanotubes will witness the fastest rate of growth, with nanoclays and quantum dots recording strong growth. The Americas and Asia-Pacific will remain the two leading regions in terms of demand; however, Eastern Europe and the Africa-Middle East region will record the fastest rate of growth. The energy storage, and generation and construction segments are set to record the highest pace of growth through 2016. Falling prices and improving material properties will represent huge growth potential in these markets. Despite high current demand, the electronics market is expected to lag behind other markets in terms of growth.
TechNavio predicts the world carbon nanotube (CNT) sector will record yearly growth of almost 11% between 2011 and 2015. Industry performance will be fuelled by the use of CNTs in place of other materials, with high production costs representing a possible obstacle to market growth. Leading players currently operating in the global carbon nanotube market include Arkema, Showa Denko, Bayer MaterialScience, CNano Technology and Nanocyl.