The nanomaterials market is expected to grow at a compound annual growth rate of 14.89% during the forecast period to reach the market size from US$42.323 billion in 2018 to US$97.334 billion by 2024. Growing consumer electronics market coupled with the emerging trend of miniaturization of electrical components is one of the major factors which is driving the demand for nanomaterials. Furthermore, supportive government initiatives and high investment in R&D activities are also propelling the growth of this market across the globe. Other drivers include an increasing number of market players, declining prices of nanomaterials, and the development of newer materials.
North America is anticipated to hold the largest share of global nanomaterials market owing to high application use of nanotubes in various end-use industries and mass production of nanomaterials in the region leading to falling prices of nanomaterials. APAC region is projected to witness the fastest regional market growth during the forecast period owing to increased government funding, rapid industrialization, and increasing demand for consumer electronics such as smartphones and tablets in the region. The growth of global nanomaterials market will be hindered by different factors such as high processing cost and stringent environmental regulations during the forecast period.
Research Methodology
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Market Dynamics
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of nanomaterials. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Segmentation
Nanomaterials market has been analyzed through the following segments:
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