New York (US), Aug. 09, 2023 (GLOBE NEWSWIRE) -- Nanofilms Market Overview
The research documents by MRFR indicate that the “Nanofilms Market Research Report Information by Application, Region, and Product - Forecast Till 2032”, the Nanofilms market is predicted to grow substantially over the assessment timeframe from 2022 to 2032 at a healthy CAGR of around 17.20%. The reports even share predictions regarding the market's growing revenue share, which will likely reach USD 11.3 Billion by the end of 2032. As per the study documents, the market was worth around USD 2.7 Billion in 2022.
Market Scope
Growing applications across numerous sectors and breakthroughs in nanotechnology are driving the enormous rise of the global market for nanofilms. Nanofilms are well suited for use in the electronics, energy, healthcare, and packaging industries because they have improved qualities like flexibility, transparency, and durability. In the upcoming years, increased demand for smaller electronic gadgets, better energy efficiency, and more public awareness of nanotechnology are anticipated to drive market expansion.
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Competitive Analysis
The catalog of the top leaders across the global Market for Nanofilms includes players such as:
- Nanofilm
- Cosmo Films Limited
- Nanofilm Technologies
- Smart Source Technologies
- Nano Foam Technology Private Limited
- NanoGram Corporation
- Nano Therapeutics Pvt. Ltd
- MAT-VAC Technology
- Nano Lab India
- LOT-Oriel
- Advanced Thin Film
- MetaTechnica
- Maxtek Technology
- MicroChem
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 11.3 Billion |
| Compound Annual Growth Rate (CAGR) | 17.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing automotive industry across the globe and growing concern regarding carbon and greenhouse gases in the environment |
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Market USP Covered
Market Drivers
The global Nanofilms industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the growing automotive industry over the globe. Furthermore, the factors such as environmental concerns about carbon & greenhouse emissions, the increasing use of nanofilms in a variety of industries, rising nanofilm adoption, increasing end-use industries, expanding R&D activities, technological advancements, and increasing use of electronics in emerging economies are also projected to boost-up the growth of the market over the coming years.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Nanofilms industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
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Segment Analysis
Among all the products, the metal segment secured the leading position across the global market for nanofilms in 2022. The main aspect causing a surge in the performance of the market segment is the large surface area, which can be used for various purposes. Metal nanoparticles (NP) films have been produced using metal oxides such as silver, gold, and copper.
Among all the application areas, the storage industry segment secured the leading position across the global market for nanofilms in 2022. The main aspect causing a surge in the performance of the market segment is the benefits offered by the segment, such as low power consumption, cost-effectiveness, flexibility, and high density. Nanotechnology's capacity to store solar energy for utilization at night when there is still plenty of sunlight makes solar energy another emerging application area.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World.
The research documents by MRFR indicate that the North American Region secured the leading position across the global Nanofilms industry in 2021 with the largest contribution of nearly 45.80%. The Region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Nanofilms Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional expansion is the strong medical infrastructure and the electronic industry that has made significant R&D investments across the Region. Furthermore, the growing research and development of nanostructures and microelectronics across the Region, coupled with the use of many advanced applications, is also considered to be one of the crucial parameters enhancing the performance of the regional market. In addition, the significant economic growth and a noticeable shift in consumer preferences across several industries are also projected to boost the regional market's growth over the coming years.
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The European Region anticipates substantial growth across the global Nanofilms industry over the coming years. The Region has France, Germany, and the U.K. as the leading development contributors. Further, the German Nanofilms Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The main aspect supporting regional market expansion is the escalating demand for goods from various end-use industries, such as biomedicine and consumer electronics. Furthermore, the Region's tremendous advancement in contemporary healthcare procedures coupled with a higher appearance in nanoelectronics is also projected to positively impact the performance of the regional market for nanofilms over the coming years.
The Asia-pacific Region held a substantial position across the global Nanofilms industry in 2022. India, China, and Indonesia are the leading development contributors in the Region. Further, the China Nanofilms Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The rising electronics and solar energy demand is the main aspect supporting regional market expansion. The primary markets for the microelectronics sector are China, India, Russia, and Brazil. Furthermore, the Region's rapidly expanding economy, increase in disposable income, and large population is also projected to positively impact the performance of the regional market over the coming years. The fast-paced growth of the Asia-Pacific region's medical, consumer electronics, manufacturing, and microelectronics industries, which China and India mainly propel, is anticipated to boost the regional market's growth over the assessment period.
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