According to the recent market research study published by P&S Intelligence, the size of the nanochemicals market was $5.67 billion in 2021, which will reach $8.94 billion by 2030, advancing at a rate of 5.2%. This is because of the rising application of these chemicals in semiconductors, cosmetics, electronics, and pharmaceuticals.
Polymer Nanochemical Usage To Witness Fastest Rise
The demand for polymer nanochemicals will grow at highest rate, of over 6.2%, in the years to come, mainly because of their importance in pharmaceuticals and semiconductor sectors.
Owing to their particle size of 1–1,000 nm, these variants offer numerous advantages, such as heavy use for controlled drug release in the body, ability toprotec drugs and other molecules against microbes, and enhanced bioavailability and therapeutic index of the molecules.
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Nanochemicals Are Most Widely Used by Pharma Sector
Pharmaceuticals had the largest share in the past because of the increasing usage of these substances in numerous kinds of drugs. Various types of nanomaterials, including fullerenes, dendrimers, and polymercarriers, are used for taking drug molecules to particular sites inside the body.
Furthermore, nanotechnology-enabled drug delivery has created opportunities in the pharma sector through the reduction of the size of numerous drug molecules, which has brought about an improvement in solubility bioavailability and reduced drug toxicity.
In this regard, the usage of nanochemicals is not only constrained to drug delivery but also contributes to the advance of controlled-release formulations and medical devices.
North America Leads in Market Revenue Generation
North America is the largest market because of the high expenditure on research and development, advancements in technology, and existence of numerous pharma and biotech companies. Furthermore, the increasing count of cancer cases isresponsible for the growing demand for these chemicals for the manufacturing of cancer drugs.
Europe follows North America due to increasing government initiatives for encouraging the usage of these chemicals. The U.K., Russia, and Norway generate the highest requirement for these products. A number of products that have nanochemicals are already being used in these nations, such as coatings, batteries, and anti-bacterial clothing.
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Largest Growth Potential in APAC
APAC will have the highest growth rate in the future, at 6.4% due to the increasing count of pharmaceutical, semiconductor & electronics, and cosmetics companies. Moreover, the shift of the interest of key players from developing conventional chemicals to nano-based ones is responsible for the tremendous growth potential in this region.
China and India had the major share of the regional market in the past, attributed to the support of government organizations, such as tax benefits, and the increasing FDI.
Nanochemicals Market Size Breakdown by Segment
By Type
By Application
By Region
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