Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Smart Nanomaterials market expected to trigger due to their potential applications in medical and electronic industry
Global smart nanomaterials market projected to grow with a CAGR of over 31.65% during the forecast period, 2020-2027. It is owing to the surge in demand for smart nanomaterials across several industries, including aerospace, automotive, electronics, and semiconductors, medical and life sciences, etc., on account of its high magnetic, optical, catalytic, and electronic properties. Additionally, growing demand for smart nanomaterial for flexible electronics, drug delivery, catalysis, environmental remediation, and sustainable agriculture projected to boost the smart nanomaterials market size in the upcoming years. Moreover, the growing applications of smart nanomaterials in key areas such as environment-friendly light-harvesting devices, drug delivery, and bioimaging, chemical sensors, surface-enhanced Raman spectroscopy, and detectors will accelerate the growth of the global smart nanomaterials market share in the forecast span.
Smart nanomaterials have played significant roles in advancements in the medical field, including drug design, personalized medicine, targeted drug delivery, nanomedicine, medical genetics, formulations and medications management, and pharmaceutical care. Smart nanomaterials can be helpful in the development of new types of batteries such that they are quicker-charge, more efficient, lighter weight, have a higher power density and hold electrical charge longer. Also, the growing usage of smart nanomaterials in nanomedicine for the development of the new type of drugs either based on human genome or structural genome, nanoscale biostructures, and drug delivery, which led to the growth of the global smart nanomaterials.
Type Overview in the Global Smart Nanomaterials Market
Based on type, the global smart nanomaterials market classified into Carbon-Based, Metal-Based, Polymeric, and Others. The Carbon-Based segment will be the fastest-growing segment in the forecast period. It is owing to its use for developing nanosized sensing/actuating technologies, ultimately capable of functional interfacing with nerve cells and brain tissue, to repair the brain on the cellular scale.
End-User Industry Overview in the Global Smart Nanomaterials Market
Based on the end-user industry, the global smart nanomaterials market categorized into Pharmaceuticals, Transportation, Electronics, Construction, Environment, and Others. Pharmaceuticals segments held for the highest revenue in 2019 and estimated to dominate the smart nanomaterials market by 2027. It is due to the growing usage of smart nanomaterials in targeted active and passive drug delivery and diagnostic value. Additionally, it is used for trace analysis, detection of DNA, destruction of tumors by binding to malignant tumor cells. Also, smart nanomaterials applications are long term multiple color imaging of liver cells, labeling of breast cancer marker, imaging of cells and tissues.
The electronics segment will grow with a lucrative rate in the forecast period. It is due to the smart nanomaterials used in Ultra-high-definition displays, transistors, enable wearable devices, flash memory chips for smartphones and thumb drives and ultra-responsive hearing aids, etc.
Regional Overview in the Global Smart Nanomaterials Market
By geography, the Global Smart Nanomaterials Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America expected the maximum revenue share in 2019 and will generate maximum revenue by 2027. A rise in the application of smart nanomaterials in various industries such as electrical and electronics, pharmaceutical, and chemical products along with the approval of nanomaterials technology by the USA FDA.
Global Smart Nanomaterials Market: Competitive Landscape
Companies such as Abbott, ANP Co., LTD, Akzo Nobel N.V., Bayer AG, BASF SE, Clariant, Donaldson Company, Inc., JM Material Technology, Inc., Nanologica, Nanogate, NanoBeauty, OPTINANOPRO, The Nano Gard L.L.C., and Yosemite Technologies Co., Ltd. are the key players in the global smart nanomaterials market.