Portland, OR, July 12, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global nanochemicals market generated $5.4 billion in 2020, and is expected to reach $8.3 billion by 2028, growing at a CAGR of 4.3% from 2021 to 2028.
Rise in demand for nanochemicals in electronics and semiconductors applications and growth of paints & coatings industry in Asia-Pacific drive the growth of the global nanochemicals market. However, low availability of raw materials hinders the market growth. On the contrary, advancements in technology are expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 outbreak had a somewhat positive impact on the nanochemicals industry as huge investments were made for vaccine development and determining ways to treat the Covid-19 patients.
- However, the prolonged lockdown disrupted the supply chain and created a shortage of raw materials and workforce.
The report segments global nanochemicals market on the basis of type, product, and region.
Based on type, the polymer nanochemicals segment is projected to register the highest CAGR of 4.8% during the forecast period. However, the ceramic nanochemicals segment held the lion’s share in 2020, accounting for more than one-third of the market.
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On the basis of product, the pharmaceutical segment dominated the market in terms of revenue in 2020, contributing to more than one-fourth of the market. However, the semiconductor & electronics segment is anticipated to register the highest CAGR of 4.9% during the forecast period.
The global nanochemicals market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to showcase the highest CAGR of 4.6% during the forecast period. However, the market across North America held the largest share in 2020, accounting for nearly two-fifths of the market.
The global nanochemicals market includes an in-depth analysis of the prime market players such as DuPont, BASF SE, Huntsman Corporation, Evonik Industries AG, Mitsubishi Chemical Holding, Merck KGaA, Sumitomo Corporation, SABIC, Solvay S.A., and Thermo Fischer Scientific.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.