The Nanotechnology market worldwide is projected to grow by $69.5 billion, driven by a compounded growth of 13.8 per cent by 2025, said a new report.

NanoMaterials, one of the segments analysed and sized in this study, displays the potential to grow at over 13.9 per cent, according to newly released  “Nanotechnology - Global Market Trajectory & Analytics” report by ResearchAndMarkets.com.

The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over $98.9 billion by the year 2025, NanoMaterials will bring in healthy gains adding significant momentum to global growth, it said.

Representing the developed world, the US will maintain a 14.7 per cent growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over $2.7 billion to the region’s size and clout in the next five to six years.

Over $3.3 billion worth of projected demand in the region will come from Rest of Europe markets. In Japan, NanoMaterials will reach a market size of $6.9 billion by the close of the analysis period, the report predicts.

As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 13.5 per cent over the next couple of years and add approximately $12.3 billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.

Be it entry into new markets or allocation of resources within a portfolio, several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific.

CLOTHING MARKET

Nanotechnology clothing market, which is experiencing strong growth, will be shaping and changing lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic, says a report.

The global nanotechnology clothing market is expected to decline from $7.42 billion in 2019 to $5.3 billion in 2020 at a compound annual growth rate (CAGR) of -28.56 per cent, says Global Market Report 2020-30: Covid-19 Growth and Change” report by ResearchAndMarkets.com.

The decline is mainly due to the Covid-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $10.5 billion in 2023 at CAGR of 25.56 per cent.

The nanotechnology clothing market consists of sales of clothes that use nanotechnology or nano fabrics. Nanoparticles are increasingly used along with fibers or as a coating on clothing to enhance the surface characteristics of clothes such as microbicidal, waterproof, antistatic or UV-protection, color durable, dirt-resistant, odor-resistant, stain-resistant, wrinkle-resistant, and better thermal performance. The nanotechnology applications include nanowhiskers, silver nanoparticles, nanopores and nanoparticles.

North America was the largest region in the nanotechnology clothing market in 2019. The launch of new products incorporating wearable technology is a key trend shaping the growth of the market. Major players operating in the nanotechnology clothing market are launching a new line of clothing with wearable technology in order to maintain their competitive position in the global market. For instance, in January 2019, Teijin Frontier, a textile company of the Teijin Group launched a new line of sportswear and other clothing incorporating wearable solutions.

The rising use of nanotechnology clothing in the medical industry, owing to its anti-microbial properties, is expected to drive the nanotechnology clothing market. Nanotechnology clothing offers the anti-microbial property to fight against microorganisms such as viruses, fungi, and bacteria. The companies functioning in the nanotechnology clothing market are introducing medical products to deal with microorganisms.

For instance, in March 2020, Anxin, a Zhuhai-based mask manufacturer came up with bacteria-killing reusable nano-silver masks to meet the increasing demand for face masks post-Covid-19 outbreak. The nano-silver particles continuously release irons that are capable of killing bacteria and viruses. Therefore, the growing usage of nanotechnology fibres or clothing in the healthcare industry is projected to boost the revenues for the nanotechnology clothing market over the forthcoming years.