GVR Report cover Nanomaterials Market Size, Share & Trends Report

Nanomaterials Market Size, Share & Trends Analysis Report By Material (Gold, Silver, Iron, Copper), By Application (Aerospace, Automotive, Medical), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68038-565-6
  • Number of Pages: 148
  • Format: Electronic (PDF)

Nanomaterials Market Size & Trends

The global nanomaterials market size was valued at USD 10.88 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 14.8%  from 2023 to 2030. The market is expected to be driven by increasing demand for the product in electronic applications owing to its increased surface area at the time of application coupled with its high superparamagnetic properties. The application of nanomaterials is also increasing in the medical industry on account of the utilization of products in various in-vitro and in vivo applications. The rising investment by various research laboratories and biomedical industries for increasing product penetration in targeted drug delivery, gene therapy, and treatment of malignant tumors is expected to boost the market growth.

U.S. nanomaterials market size and growth rate, 2023 - 2030

Nanoparticles are used in medical equipment for the diagnosis of several illnesses. Magnetic resonance imaging (MRI) is one of the major applications of magnetite nanoparticles for their use in scanning purposes. Nanomaterials are also offering high functionality in the nanomedicine applications as they enable targeted and efficient drug delivery. They are expected to address the shortcomings of conventional therapy. Nanomaterials have facilitated development of a broad variety drug carriers for the targeted and controlled delivery of therapeutic agents in a wide range of chronic diseases such as diabetes, pulmonary tuberculosis, atherosclerosis, asthma and etc.

The raw materials required for the production of nanomaterials vary with the different manufacturing processes applied for the production. Raw materials metals, rare earth metals, alloys, polymers, and composites are either supplied to commercial manufacturers or research laboratories. AppliChem GmbH and Bernd Kraft GmbH are among the major suppliers in the market that provide the required raw materials.

The market in U.S. is expected to grow owing to the growing R&D activities within the country. The U.S. government invests heavily in nanotechnology with the motive of becoming a global power and to lead technological advancement across the globe. It coordinates work on nanomaterials with 20 government agencies through the National Nanotechnology Initiative (NNI)-an R&D initiative of the U.S. government that combines federal departments and agencies with interests in nanomaterials research, development, and commercialization.

Stringent regulations in North America and Europe are projected to hinder the growth in these regions. Regulatory authorities such as the Food and Drug Administration, the U.S. Environmental Protection Agency, and the Health and Consumer Protection Directorate are investigating the potentially harmful impacts of nanoparticles on the environment and human health.

A wide range of thermo-chemical methods are used to synthesize nanoparticles, which can be categorized as either surfactant or polymer assisted precipitation reactions and co-precipitation reactions. Major methods used for the synthesis of nanoparticle include co-precipitation, reverse micelle, copolymer template, and ion exchange resin.

The market of nanomaterials is quite fragmented. Companies in the market concentrate on specific types of nanomaterials as well as applications. The major companies are consistently focused on research and development for product innovation and capacity growth, as well as cooperation with local or regional distributors and manufacturers.

Material Insights

Titanium nanoparticles accounted for the significant market share in 2022 and is expected to expand at the fastest CAGR of 16.2% during the forecast period. The material is expected to witness increased demand on account of its ability to inhibit bacterial growth and prevention of formulation of further cell structure.

Furthermore, titanium (Ti) nanomaterials have a high strength-to-weight ratio, corrosion resistance, and biological compatibility. Hence, they are widely used in aerospace, chemicals, medical, petrochemicals, and architectural industries.These nanomaterials also exhibit excellent UV radiation resistance, biocompatibility, corrosion resistance, and mechanical strength.

Antimony tin oxide (ATO) nanomaterials is expected to grow at a CAGR of 14.9% over the forecast period. The product is exclusively used as essential components in display panels in the electronics sector owing to their anti-static properties, transparent conductivity, and infrared absorbance.

In addition, antimony tin oxide (ATO) nanomaterials are ideal additives used in corrosion resistance applications as they exhibit excellent resistance to various organic and inorganic chemicals. Moreover, they are often used as additives in scratch-resistant coatings owing to their superior wear resistance.

Gold nanomaterials offers optical and electronics characteristics which are being explored widely for use in high-tech applications such as sensory probes, electronic conductors, and therapeutic agents. They are also expected to be used in organic photovoltaics and for drug delivery in biological and medical applications, this is expected to increase the demand for gold nanomaterials over the forecast period.

Application Insights

The medical application segment accounted for a major share of around 30.8% of the global revenue in 2022 and also the fastest growing market on account of high penetration of the product for use in the treatment of cancer and other malignant tumors. Furthermore, nanomaterials are used for various specific tasks in the medical sector including imaging, targeted drug delivery, nanorobots for surgery, nano diagnostics, cell repair, and nano biosensors.

Global nanomaterials market share and size, 2022

In addition, the product is expected to witness high demand owing to its usage as a T2 contract agent in MRIs owing to its superparamagnetic behavior at room temperature. Moreover, nanoparticles are also used as gene carriers for gene therapy as well as in the body detoxification process.

The aerospace application segment is expected to expand at a CAGR of 12.1% over the forecast period. Rising demand for lighter and more efficient aircraft has driven the rapid adoption of nanomaterials in aircraft manufacturing. Nanomaterials are being used on a large scale in aerospace parts manufacturing including aerostructure, glass, and textile to improve the safety, comfort, and affordability of an aircraft.

Furthermore, high-strength and lightweight properties offered by nanomaterials as well as fast operating speed provided by nanoelectronics are expected to increase their penetration in aerospace applications. In addition,nanostructured metals not only exhibit improved properties but can be engineered to display certain properties that are uncharacteristic of conventionally sized materials.

Nanomaterials have applications in other industries including agriculture & food, environmental remediation, construction, and wastewater treatment. Rising awareness regarding the utilization of nanomaterials in various applications, owing to their unique catalytic, optical, electronic, and thermal properties, is likely to have a positive impact on the nanoparticles market growth over the forecast period.

The demand for nanomaterials is also increasing in the construction industry. The common type of nanomaterials used in this industry includes titanium dioxide, aluminum oxide, copper, clay, and silica. Furthermore, the addition of nanomaterials including nano silica and carbon nanofibers in concrete leads to more durable, air purifying, stronger, easy to clean, and quick compacting concrete.

Regional Insights

Asia Pacific dominated with a market share of 37.49% in 2022 and is expected to be the fastest growing region with a CAGR of 17.6% over the forecast period, on account of the growing semiconductor manufacturing industry, coupled with rising product penetration. Furthermore, the substantial growth of electronics, medical equipment, aerospace & defense, textiles, and automotive industries in Asia Pacific is expected to fuel the demand for nanomaterials in the region.

Nanomaterials Market Trends, by Region, 2023 - 2030

Nanotechnology market in India is growing at a highest CAGR of 18.9% during the forecast period of 2023-2030. Nanomaterial is one possible means of bridging the gap between India’s abundant, varied natural resources and ever-increasing needs such as medical, electronics, hygienic water and food, and high-quality textiles.

North America nanomaterials market registered the revenue of USD 3.60 billion in 2022 on account of the growing penetration of products in various application industries. Furthermore, continuous efforts in the R&D of nanomaterials and nanotechnology, to explore further potential applications in various end-use industries, are expected to drive the regional market over the forecast period.

The growing saturation in Asia Pacific markets, such as Japan, South Korea, and Taiwan, is anticipated to shift the focus of major manufacturers in North America. The low cost of production in Mexico coupled with the growing demand for electronic goods is also expected to drive the nanomaterials industry in the region over the forecast period.

The market in Canada is expected to grow at a CAGR of 13.0% over the forecast period owing to the growing development activities for boron nitride nanotubes within the country.Canada is leading the development of Boron Nitride Nanotubes (BNNT) which can be used to create super-strong, ultra-light, and heat-resistant materials. It is also a world leader in the production of cellulosic nanomaterials.

Key Companies & Market Share Insights

Prominent players have been using a variety of business strategies such as capacity and business expansion, collaborations, mergers and acquisitions, and product and application development. Companies in the market concentrate on specific types of nanomaterials as well as applications. The major companies are consistently focused on research and development for product innovation and capacity growth, as well as cooperation with local or regional distributors and manufacturers.Some prominent players in the nanomaterials market include:

  • Strem Chemicals, Inc.

  • American Elements

  • US Research Nanomaterials, Inc.

  • Nanocomposix, Inc.

  • Frontier Carbon Corporation

  • Nanoshel LLC

  • SkySpring Nanomaterials, Inc.

  • Nanophase Technologies Corporation

  • Cytodiagnostics, Inc.

  • Quantum Materials Corp.

Nanomaterials Market Report Scope

Report Attribute


Market size value in 2023

USD 12.42 billion

Revenue forecast in 2030

USD 32.76 billion

Growth rate

CAGR of 14.8% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Material, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; China; India; Japan; Brazil

Key companies profiled

Strem Chemicals, Inc.; American Elements; US Research Nanomaterials, Inc.; Nanocomposix, Inc.; Frontier Carbon Corporation; Nanoshel LLC; SkySpring Nanomaterials, Inc.; Nanophase; Technologies Corporation; Cytodiagnostics, Inc.; Quantum Materials Corp.

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Global Nanomaterials Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2023 to 2030. For this study, Grand View Research has segmented the global nanomaterials market on the basis of material, application and region:

Global Nanomaterials Market Report Segmentation

  • Material Outlook (Revenue, USD Million, 2018 - 2030)

    • Gold (Au)

    • Silver (Ag)

    • Iron (Fe)

    • Copper (Cu)

    • Platinum (Pt)

    • Titanium (Ti)

    • Nickel (Ni)

    • Aluminum Oxide

    • Antimony Tin Oxide

    • Bismuth Oxide

    • Carbon Nanotubes

    • Other Nanomaterials

  • Application Outlook (Revenue, USD Million, 2018 - 2030)

    • Aerospace

    • Automotive

    • Medical

    • Energy & power

    • Electronics

    • Paints & Coatings

    • Other

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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