According to a new report published by Allied Market Research, titled, “Nanotechnology in Energy Market By Material Type, Application And End Use: Global Opportunity Analysis And Industry Forecast, 2020-2030,” the global nanotechnology in energy market size was valued at $139.7 million in 2020, and is projected to reach $384.8 million by 2030, with global nanotechnology in energy market forecast expected at a CAGR of 10.7% from 2021 to 2030
Nanotechnology has various uses in sectors such as construction, energy, and medical. Increase in investments to develop various electric vehicles and hydrogen fuel cell-based vehicles among developing countries such as India, China, and Brazil. In addition, developed countries such as the U.S., France, Italy, Spain, and other European countries have invested in hydrogen fuel cell-based infrastructural activities. In electric transportation vehicles nanoparticles can be used with li-ion battery to increase efficiency of energy source. Developed and developing countries around the world are investing in infrastructure development, which includes transportation infrastructure where nano-composites are used to improve safety and increase fuel efficiency for longer period. In addition, carbon nano tubes are used in construction materials to increase durability of buildings. These factors are expected to create ample growth opportunities for the nanotechnology in energy market.
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Production of nano particles is little dangerous for working staff as these particles can be inhaled and settle in the human body such as brain and lungs. This situation can cause significant increase in biomarkers for inflammation and stress. The above-mentioned human health issues and low consumer response are some of the primary reasons that restrain the nanotechnology in energy market growth.
On the basis of material type, the global nanotechnology in energy market is segmented into nanostructured material, carbon nanotubes, fullerene, others. The applications covered in the study include photovoltaic film coating, fuel cells and batteries, thermoelectric materials and aerogels. The end uses covered in the study include electrical, manufacturing, renewable & non-renewable energy and others.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia-Pacific and Europe.
Major companies profiled in this report include Nano Dimension, Ablynx, Advance reproductions corporation, Z-medica LLC, InMat Inc, APS material, Inc., Solarmar energy, Inc., Solar Botanic Ltd., Rogue Valley Micro, and Advanced Nanoproducts.
Rapid increase in demand for nanotechnology has encouraged key players to expand their production capacities in order to meet market demand across the globe. Additional growth strategies such as product innovations and acquisition strategies are also adopted to attain key developments in the nanotechnology in energy market trends.
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Impact Of Covid-19 On The Global Nanotechnology In Energy Market
Emergence of COVID-19 had a positive impact on growth of the global market for a short period.
Increasing electricity usage and use of energy storage due to shifting working preferences is expected to boost the global market for a short span of time.
The use of nanotechnology brought improvement in contact tracing tools during the covid-19 pandemic.
Thus, the abovementioned factors are expected to support the global nanotechnology in energy market growth in current times.
Key Findings Of The Study
The Asia-Pacific nanotechnology in energy market is projected to grow at the highest CAGR of around xx%, in terms of revenue, during the forecast period.
By material type, the carbon nanotubes segment accounted for the largest market share in 2020.
On the basis of application, fuel cells and batteries segment accounted for the largest market share in 2020
On the basis of end use, the electrical segment accounted for the largest market share in 2020.
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