The global nanotechnology market is expected to grow with the CAGR of 17.7% during the forecast period of 2016-2022. Nanotechnology is related to science field. Nanotechnology studies and manipulates the property of material which deals with less than 100 nanometers and also due to its dominance and tolerance. There are various factors which are majorly driving the global nanotechnology market. Recently on 18th April 2016, five technological advancements have taken place in the nanotechnology market which is becoming key market driver for the global nanotechnology market. The recent top 5 technological advancements in the nanotechnology market are, in health care sector its drug delivery, in agriculture sector its crop protection and live stock productivity, for water treatment its safe purification, for various chronic disorders or diseases its early detection, and for energy storage its solar energy. Some of the researchers have identified that in the nanotechnology there are some mechanisms, by which the nanoparticles which are a part of nanotechnology can cause lung damage due to which it is majorly restricting the growth of the global nanotechnology market. Rising application in nanofibers is the major opportunity of the market which is acting as the future driver of the global nanotechnology market. Some of the challenges faced by the nanotechnology market are lack of skilled professionals and cost of nanomaterial.
The global nanotechnology market has been segmented into three parts, such as by component, by application and geographically. On the basis of by component, it is categorized into nanomaterial, nanotools and nanodevices. Nanomaterial sub segment is highly dominating the global nanotechnology market in terms of market share. On the basis of application segment, it is categorized into electronic, energy, cosmetic, biomedical, defense and food & agriculture among which energy and food & agriculture sub segments are the highly dominating sub segments in terms of market share. On the basis of component, its sub segment nanosensors are majorly dominating the global nanotechnology market.
On the basis of regions, the global nanotechnology market is divided into North America, Europe, Asia Pacific and rest of the world. North America is dominating with the maximum market share of the global nanotechnology market due to rising awareness about the nanotechnology. During the forecast period, it is accounted that the Asia Pacific will be the fastest growing region due to rising demand for the latest nanotechnology from the emerging countries of this region such as India, China and Japan.
Some of the key market players of the global nanotechnology such as Altair, Nanophase Technology Corporation, Ablynx, Acusphere, Inc., Advanced Diamond Technology, Inc., Arkema, Bruker Nano Gmbh, Nanoscale Corporation, Nanosys, Inc., PEN, Inc., Qd Vision, Inc., Showa Denko K.K., Unidym, Inc., and more. Mergers & acquisitions and collaborations and new product development are the key strategies adopted by the market players to sustain in the market. Recently on 3rd February 2015, Arkema announced the acquisition of Bostik (the world’s number 3 in adhesives). Due to this acquisition, Arkema developed and is becoming a leader especially in chemicals and advanced material across the world.