London, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Global population continues to expand, placing significant pressure on resources, including energy. This is a major factor responsible for a growing demand for energy, be it for industrial, commercial, or residential applications. This in turn is expected to largely benefit the progression of global nanotechnology in energy market. Moreover, a greater level of awareness concerning climate change and the adverse impacts brought about by the activities of man is gradually resulting in more importance being given to renewable source of energy. A new upcoming study of Fairfield Market Research says the various favorable policies rolled out by governments from across the globe play an instrumental role in promoting the use of renewable energy resources, thereby uplifting the growth prospects of nanotechnology in energy market. However, although nanomaterials have proven to have outstanding functional performance, either in a laboratory setting or a prototype stage, the scalability of production remains the most challenging facing nanotechnology and allied market sectors.
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Insights into Segmental Analysis
In terms of the material used, carbon nanotubes contribute a significant revenue share in the global nanotechnology in energy market and are expected to witness increased adoption over the long term. Carbon nanotubes being nanostructured material possess favorable mechanical and electrical properties owing to one dimension confinement. In addition, carbon nanotubes are suited for various applications that require high durability, strength, high thermal conductivity, optimum electrical conductivity, and light weight. Moreover, nanocomposites containing carbon nanotubes are gaining high traction. They are an apt alternative to conventional composite material owing to their superior thermal, electrical, chemical, mechanical and barrier properties such as high tensile strength, enhanced heat deflection temperature and flame retardancy. This has increased the use of carbon nanotubes across applications such as energy storage devices, electron field emission, nanotransistors, biological sensing devices and actuators. Moreover, they are cost-efficient and can be used in the manufacturing of super capacitors. These factors are expected to push demand of carbon nanotubes, consequently aiding the growth of the nanotechnology in energy market.
Insights into Regional Analysis
A greater emphasis is being placed on the curbing of carbon emissions and adopting better approaches toward renewable energy generation by the various governments. While this prevails worldwide, the pace of the movement across Asia Pacific over the recent past has been phenomenal. Asia Pacific currently leads the global nanotechnology in energy market and the primary report findings suggest a significant contribution to this lead from an improving access to funding and infrastructure. The market here will benefit largely from growing nanotechnology penetration across industries, as well as the substantially rising use of green fuel alternatives. Solid efforts toward slashing carbon and greenhouse gas (GHG) emissions in form of clean energy initiatives are expected to pave the way for nanotechnology in energy market in Asia Pacific. Increasing nanotechnology potential to be leveraged for enhanced fuel efficiency will further create tailwinds for the growth of nanotechnology in energy market across Asia Pacific, says the Fairfield Market Research analyst.
Key Competitors in Global Nanotechnology in Energy Market
Some of the notable players steering the competition landscape of global nanotechnology in energy market include Advanced Nanoproducts, Solarmar Energy Inc., Ablynx, InMat Inc., Z-medica LLC, Rogue Valley Micro, Nano Dimension, APS Material Inc., Solar Botanic Ltd., and Advance Reproductions Corporation.
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Global Nanotechnology in Energy Market is Segmented as Below:
By Material Type
- Nanostructured material
- Carbon nanotubes
- Fullerene
- Others
By Application
- Photovoltaic Film Coating
- Fuel cells and Batteries
- Thermoelectric Materials
- Aerogels
By End Use
- Electrical
- Manufacturing
- Renewable & non-renewable energy
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- South Korea
- India
- China
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Material type-Wise Analysis
- Application-Wise Analysis
- End Use-Wise Analysis
- Region-Wise Analysis
- Country-Wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/nanotechnology-energy-market/more-information
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