NANOMATERIALS MARKET ANALYSIS

Market Challenges And Opportunities

Global Nanomaterials Market Drivers:

Growing use of nanomaterials in healthcare industry to foster market growth

Biomedical applications are being formulated with nanoparticles and fullerenes that can be made to retain biological activity, have a low toxicity, and have high selectivity for specific targets. These can be incorporated in advanced drug delivery systems, which may have the potential to reduce or avoid side effects of chemotherapy and radiation therapy.

Increasing usage of nanomaterials in wastewater treatment industry to augment market growth

Growing prevalence of water borne disease due to scarcity of fresh water is expected to fuel market growth. According to the World Health Organization, over 2 billion people live in water-stressed countries, which is expected to be exacerbated in some regions as result of climate change and population growth. Globally, at least 2 billion people use a drinking water source contaminated with faeces. Microbial contamination of drinking-water as a result of contamination with faeces poses the greatest risk to drinking-water safety.

Global Nanomaterials Market Opportunities:

One of the most promising applications for nanotechnology is in military applications. The military has used nanoparticles in mobile pigment systems to improve camouflage and sensor systems to detect biological agents such as viruses, bacteria, and fungi. Hence growing application in military sector is expected to hold potential market opportunities.

Because nanoparticles are lighter and stronger, they can reduce the weight of car parts. This can lead to significant fuel savings for cars, trucks, airplanes, boats, and spacecraft. Thus, nanoparticles for fuel applications is expected to serve major growth opportunities.

Global Nanomaterials Market Restraints:

High cost of the technology to hinder market growth

High fund required for research and development activities for the integration of nanotechnology into various application is expected to hinder the market growth. Nevertheless, growing popularity of nanotechnology will favor the market growth in the near future.

Health risk associated with the use nanomaterials

The use of these materials can pose health risks in some cases and is therefore subject to rigorous toxicity testing. This restraining factor could limit the market growth. Inhalation of airborne nanoparticles can cause lung inflammation and heart issues. They can also enter the bloodstream and affect the circulatory system. These can also be harmful to the skin and may lead to erythema.