Nanoscale Chemicals & Materials Market Plying for Significant Growth - 2020
Nanoscience
is a discipline that uses basic principles of chemistry, physics and
other fields to understand the mechanism of systems when they are
shrunk to the scale of a nanometer. Nanotechnology principles can be
applied in areas such as microelectronics fabrications, solar cells,
fibrous devices for filtration and separations and biological
sensors. There are wide range of nanoscale materials and chemicals
developed in order to build the molecule-sized machines, nanoscale
electronics, nanoscale computers, nano based medical cures and
nanoscale manufacturing with self assembly capabilities. Some of the
nano size chemicals include silica, aluminium oxide, zirconia, etc.
There are also several nano size materials manufactured from iron,
cobalt, gold and silver. Carbon based and polymeric based nano
materials mainly include the fluerence, carbon nanotubes, nanofibers,
dendrites, solid and hollow polymeric nano spheres. Nano materials
and nano size silica particles are studied widely for developing
innovative nano particles for various applications.
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Rising
disposable income coupled with the growing demand for innovative
products has boosted the growth of electronic and electrical
industry. Growing demand for reduction of the overall weight as well
as power consumption of the electrical devices is expected to augment
the growth of nanoscale materials and chemicals market. Thus, nano
materials are widely used in manufacturing flexible electronic
circuits, switches and transistors among others.
The
growing population coupled with the increasing urbanization is
expected to boost the demand for construction industry. Nanoscale
materials are also widely consumed by the construction industry as
they not only enhance the material properties and functions but also
play crucial role in the conservation of energy during the
construction activities. Nanoscale materials when used in the
construction activities are known to lead to more durable, stronger,
air purifying, self heating, fire resistant, easy to clean and quick
compacting concrete. Nanoceramic materials find major applications in
the construction industry. Thus, the growing construction industry is
expected to augment the overall growth of the nanoscale materials and
chemicals market in the near future. Nano materials and chemicals are
also used widely in the medical sector. However, the lack of
awareness of the benefits of these nanoscale materials and chemicals
especially in developing regions is expected to hamper the overall
growth of the market.
North
America is the largest consumer and manufacturer of the nano
materials and chemicals. Presence of stringent regulations in the
region especially for the construction industry has boosted the
overall demand for nanoscale materials and chemicals. Europe is
expected to be the next largest consumer of nanoscale materials and
chemicals. The presence of large number of research institutes has
led to the introduction of innovative nanoscale materials and
chemicals in the region. Asia Pacific is expected to exhibit rapid
growth in the overall demand for nanoscale chemicals and materials
owing to the growing construction and automobile industry in the
region. However, Rest of the World is anticipated to exhibit sluggish
growth in the demand for nanoscale materials and chemicals in the
near future.
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Advanced
Nano Products, Inc., Akzo Nobel/Eka, BASF, Tokuyama, NanoMas
Technologies and Qinhuangdao Taiji Ring Nano-Products Co., Ltd. are
some of the major participants of the global nanoscale chemicals and
materials market. The company’s manufacturing nanoscale materials
and chemicals focus mainly on research. The companies intend to
develop and introduce innovative products in the market. Nanoscale
materials and chemicals manufacturing companies also strive to
achieve competitive advantage by enhancing their production
capacities to meet the growing demand especially from the
construction industry.
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