NANOMATERIALS MARKET ANALYSIS

Nanomaterials MarketSize and Trends

The global nanomaterials market size was valued at USD 11.0 Bn in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 14.24% from 2023 to 2030. The use of nanomaterials is increasing in several applications across the world including energy and power, electronics, healthcare, construction, and other end-user industries. Moreover, it is becoming increasingly important in the development of lightweight, portable devices and systems that are cheaper and more environmentally friendly which is a key reason driving growth of the nanomaterials market. Some of the key applications include solar energy production, targeted drug delivery, regenerative medicine and diagnostics, electronics, cosmetics, textiles and information technology.

Global Nanomaterials Market Trends:

Nanomaterials in sports goods

The use of nanoparticles in sporting goods is a popular application for nanotechnology. For example, baseball bats, tennis rackets, and golf clubs made with carbon nanotubes are lighter, more resilient, and powerful than those that haven't been made with them. Thus, trend of health and wellness with increasing number of people participating in sports is propelling market growth.

Antimicrobial Nanotechnology is a growing trend

Using the smallest materials possible, nanotech engineers have created a variety of materials that can be used to help protect us against disease and infection. Some of these materials have been infused into the materials that are used to make towels and mats for sports. These materials can be soaked in water and treated with chemicals to reduce the number of bacteria on them, which will help to keep athletes healthy and safe.