Nanotechnology (Global Market)

Chronicle

2023: Market Size - $68 Billion

At the end of 2023, the global nanotechnology market reached $68 billion. This industry is rapidly developing, as stated in the materials of BCC Research, published at the end of 2023.

Analysts take into account the costs of nanotechnology products and nanomaterials, as well as related tools. It is noted that nanotechnology is widely used in various industries: among them are named automotive, medical, electronic, aerospace and energy spheres. Nanomaterials are increasingly used in pharmaceuticals and healthcare due to their antimicrobial, anticancer and antioxidant properties. Demand in the electronics industry is stimulated by the development of spintronics, new computing systems, etc.

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One of the fastest growing segments in the global nanotechnology market is the carbon nanotube sector. They, in particular, are used in the production of lithium-ion batteries. Carbon nanotubes are also used for a variety of medical and pharmaceutical purposes, including biosensors. The COVID-19 pandemic has led to increased investment in research and development related to the use of nanotechnology for the prevention, diagnosis and treatment of diseases.

Significant players in the global nanotechnology market include Showa Denko KK, Basf SE, Pen, Nanosys, QD vision, Arkema, 3rd Tech, ApNano Materials, ELITechGroup, Bruker Nano GmbH, QuantumSphere, etc. Analysts at BCC Research predict that the industry in question will continue to grow rapidly. The CAGR (compound percentage CAGR) from 2023 to 2028 is expected to be 22%. As a result, by the end of the period under consideration, the market volume will reach $183.7 billion, that is, it will increase by more than 2.5 times compared to 2023.^[1]

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