Smart Nanomaterials Market worth USD 15984.21 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Smart Nanomaterials Market by Type (Carbon-based, Metal-based, Polymeric and others), by End-Use (Pharmaceuticals, Electronics, Transportation, Construction, Environment, Consumer Goods, and Others), and Region - Global Trends, Market Share, and Forecast to 2027". The global smart nanomaterials market is expected to grow from USD 2628.81 million in 2020 to USD 15984.21 million by 2027, at a CAGR of 35.10% from 2021 to 2027. One of the major challenges the 3D printing technology faces, especially in developing economies like India, South Korea, Israel, and others, is the lack of awareness about this technology. The lack of knowledge regarding 3D printing has restrained the regions from producing high yields with higher accuracy, in lower time, and low labor costs. Funding is a major challenge for the 3D printing industry in developing economies. With a lack of awareness about 3D printing in Brazil, MEA, India, and other developing economies, the companies are not getting funding for similar companies in the U.S. or China. Among the population in developing countries like Mexico, India, Brazil, Malaysia, Turkey, and South Africa, there is still a lack of awareness about this technology, which is mistaken as costly and complex.

Global Smart Nanomaterials Market Segmentation

The overall smart nanomaterials market has been segmented into type, end user, and region.

• By Type (Carbon-based, Metal-based, Polymeric, and others)
• By End-Users (Pharmaceuticals, Electronics, Transportation, Construction, Environment, Consumer Goods, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Metal-Based, by type, is estimated to hold the largest market share during the forecast period

Based on type, the global smart nanomaterials market is segmented into (carbon-based, metal-based, polymeric, and others). The metal-based segment generated the highest revenue share of 25.78% in 2020, and it is expected to register a significant CAGR of 34.94% during the forecast period 2021 to 2027. Smart nanomaterials are classified according to the stimuli such as temperature, light, strength, and electric or magnetic field they are sensitive. Common types of smart nanomaterials include dendrimers, quantum dots, carbon nanotubes, graphene, and fullerenes. Owing to their small size and novel optical and electronic properties, these types of smart nanomaterials find application in several industries, including pharmaceuticals, agriculture, environment, automotive, electronics, and others.

The metal-based smart nanomaterials segment is projected to dominate the global smart nanomaterials market during the forecast period. This is owing to the increasing demand from the pharmaceuticals, electronics, and consumer goods industries. The need for small, portable, and lightweight electronic and optoelectronic devices as an alternative to present fragile, heavy, and voluminous materials is constantly increasing. Thus, conductive metal smart nanomaterials such as silver, copper, gold, zinc oxide, and aluminum exhibit great promise as alternatives to conventional materials.

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North America accounts for the largest market share during the forecast period in the smart nanomaterials market

Based on the regions, the global smart nanomaterials market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa.

In 2020, North America accounted for the highest market share of 37.13% in the global smart nanomaterials market. It had a CAGR of 33.73% during the forecast period, followed by the Asia Pacific and Europe. The North America smart nanomaterials market by type is currently dominated by metal-based followed by carbon-based. Metal-based smart nanomaterials account for a major share due to growing application in microcircuits and passivation coatings, and fabrication of sensors. The carbon-based smart nanomaterials market accounted for the second-largest share due to optical and high mechanical strength and thermal & electrical conductivity properties. The U.S. has an established market for smart nanomaterials. It is the most lucrative country in the global smart nanomaterials market. The country has also received a large number of foreign direct investments (FDI) in nanotechnology. The U.S. has initiated the USD 422 million NNI to promote R&D. In addition, the presence of various established and local players in the smart nanomaterials market makes it a highly fragmented market

The smart nanomaterials market is mildly concentrated in nature with large numbers of global players operating in the market 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. The following chart depicts the positioning of leading companies in the market based on two parameters, namely, competitive strength and geographical presence.

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