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.
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.
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.