Global Nanotechnology Market to Reach 30.4 Billion Dollars by 2015
Global Industry Analysts have recently announced the publication of their comprehensive global outlook on the nanotechnology market. Following on from last year’s global report on the Nanocomposites market, which forecast the industry to be worth 1.3 billion pounds by the year 2015, the latest report recognises how the nanotechnology market has managed to weather the storm of the economic downturn without erosion of value. Demand from the defence and pharma industries have helped to insulate the market from the worst of the recession and government support across the globe has been a primary source of market activity.
The market in composites was reported to have not gone unscathed as a result of the economic recession whose pronounced length and depth had had something of an effect on the market. Yet the latest report suggests that across the nanotechnology value chain a revival is occuring,
[because of] resurgence in growth fundamentals such as improvement of business scenario in key markets such as semiconductors, electronics, chemicals, automotives, among others, and increase in government and private sector funding on R&D, the global nanotechnology market is recovering poise and is projected to witness robust growth in demand in the next few years.
Nanotechnology: A Global Outlook
The forecast of a 30.4 billion dollar market by 2015 indicates a significant uplift on previous estimates, of which the nanocomposite market will play a not inconsiderable part. As ever, nanocomposites continue to be the turn to answer for an electronics industry that craves improvements in the speed and performance of semiconductors and electronics. Similarly, improvements in safety, and increases in efficiency, are the main drivers of increased interest in nanocomposites in the defence and energy sectors respectively. Yet the funding of the market remains primarily the reserve of governments and corporate research and development; funding from venture capitalists remains low. Delays in the speed of development is largely a result of funding, and the fact that once funding is secured a further year and a half is required to bring any research and development plan to fruition. The most mature of the nanotechnology sectors is the nanomaterials segment of the chemicals industry, and in particular the market for nanofilms.
Nanofilms are making rapid strides in the global market driven by their expanding application in a range of commercial sectors including high efficiency solar cells, light-emitting diodes, photonics, wireless communications, and semiconductor technology.
Nanotechnology: A Global Outlook
As stated by the new market research report, Europe and United States account for a major share of the global Nanocomposites market. While the US and Europe remain key geographic markets for nanotechnology industry for the foreseeable future, their market shares are expected to be poached by the rapidly expanding Asian markets. Governments of Asia-Pacific region have embraced and funded research into nanotechnology with enthusiasm for several years and recent R&D initiatives by emerging economies such as China, Russia and India in the area of nanotechnology will significantly contribute to the growth of nanotechnology-enabled products in the years to come.
Major players in the marketplace include 3M ESPE, Arkema Group, BASF SE, Cabot Corporation, Cyclics Corporation, DSM Somos, Du Pont (E.I) De Nemours & Company, Elementis Specialties Inc, eSpin Technologies Inc., Evonik Degussa GmbH, Foster Corporation, Hybrid Plastics, Industrial Nanotech Inc, Inframat Corporation, InMat Inc, Nanocor Incorporated, Nanoledge SA, Nanophase Technologies Corporation, Powdermet Inc, Showa Denko K.K., Rockwood Additives Ltd, TNO, Unitika Ltd, Zyvex Technologies, among others.
For further details on both reports please refer to
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