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The global market for nanochemicals is expected to witness a fast-growing demand in the coming years owing to several factors. These include rise in demand for chemical-based products having numerous phases which provide with maximum product yields and enhances chemical reactions. Additionally, technological advancements and increasing applications in agrochemicals and manufacturing of multifunctional coatings is expected to provide a boost to the growth of the market.
Nanochemicals are developed using nanotechnology on traditional chemical building blocks which include propane, butane and ethane. Nanochemicals offer properties of anti-corrosion and self-catalysis in comparison to other conventional chemicals. Moreover, these chemicals take less amount of time chemical reactions to take place. Leading players in the industry have heavily invested in the research and development for the new technologies of nanoscale markets. With increasing foreign investment and government aids in developing nations of APAC region, the market holds immense opportunities of growth in the coming years, which in turn is expected to drive the market for nanochemicals. However, nanochemicals are harmful for environment and human consumption, it’s is restricted to pharmaceutical, food and textile industries.
By application, the global market for nanochemicals has been categorized into pharmaceuticals, cosmetics, semiconductors & electronics and others; and by product type, the market has been categorized into ceramic nanochemicals, polymer nanochemicals, metallic nanochemicals, and others.
In 2015, North America dominated the nanochemicals market by region. Factors such as growth in pigment and printing ink sector are projected to drive the market for nanochemicals in North America during the forecast period. Additionally, demand for nanochemicals is expected to increase in Asia-Pacific owing to the rapid industrial advancements, and shift of companies from convectional chemicals to nano-based chemicals in the region. Moreover, the increasing usage from end user industries such as electronics, construction, and rubber are expected to create a high demand for nanochemicals, specifically in developing nations including China and India. Therefore, considering such factors, the market for nanochemicals is expected to witness an enormous growth during the forecast period.
Leading players in the global market for nanochemicals include Huntsman Corporation, E. I. Du Pont de Nemours and Company, Akzo Nobel, Rhodia S.A., Bayer CropScience AG, Sea Spray Aerosol Inc., Advanced Nano Products Inc., Graphene NanoChem Plc, Nano Chemical Systems, BASF SE, ELANTAS Beck India Limited, and The Dow Chemical Company.
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