Smart Nanomaterials refer to materials with at least one dimension in the three-dimensional space that is in the nanometer size (1-100 nm) or composed of them as basic units, which is approximately equivalent to a scale in which 10 to 100 atoms are closely packed together. Smart nanomaterials have appeared as one of the phenomenal materials in the modern world because of their exceptional thermal, electronic, optical, and mechanical properties. Smart materials that respond to a stimulus or their environment to produce a dynamic and reversible change in critical properties have enabled progress in many areas, including display technologies, drug delivery, and self-healing materials for coating applications, among others.
Global smart nanomaterials market projected to grow with a CAGR of over 31.65% during the forecast period, 2020-2027. The major factors are the growing use of smart nanomaterials in the pharmaceutical industry to deliver drugs and act as imaging agents in response to disease specific. Additionally, the increasing popularity of smart nanomaterials in various application industries, excellent physio-chemical properties of smart nanomaterials will propel the growth of the global smart nanomaterials market size in the future timeline. Moreover, the growing investments in R&D, coupled with the increasing need for energy storage and the surge in demand for cosmetic products coupled with growing health concerns, will accelerate the global smart nanomaterials industry in the forecast span. Through smart nanomaterials, the surface of an electrode can be modified as increment the surface area of an electrode. Thus, the modified electrode has more sorption capacity than the normal electrode.
Furthermore, the development of nanosensors, which are capable of characterizing and quantifying biomolecules and growing applications of biosensors, which provide excellent conducting properties of polymers and large specific surface area over 2D/1D nanomaterials are estimated to foster the global smart nanomaterials market share. Also, the upsurge in applications of smart nanomaterials in isolation and identification of circulating tumor cells will trigger the growth of smart nanomaterials industry. The smart nanomaterials have widely used in imaging with features including improved brightness, the inertness of the nanomaterials to the microenvironment, and even distribution. Moreover, the surge in demand for smart nanomaterials in the pharmaceutical industry as an excellent carrier for controlled and sustained delivery of drugs would drive the smart nanomaterials market size in the forthcoming periods.
The Smart Nanomaterials used in smart drug delivery systems as efficient drug carriers. It helps in biocompatibility and biodegradability, excellent stability at physiological pH, high drug loading capacity with no toxicity, and industrial scale-up of nanomaterials for clinical applications. The smart nanomaterials used as long term multiple color imaging of liver cells, labeling of breast cancer marker, imaging of cells and tissues.
Based on type, the global smart nanomaterials market classified into Carbon-Based, Metal-Based, Polymeric, and Others. The Carbon-Based segment predicted to gain a major share in the smart nanomaterials market by 2027. It is owing to the carbon-based smart nanomaterials such as graphene, carbon nanotubes (CNTs), and nanodiamonds (NDs) helpful in designing and fabricating nanoelectrodes and substrates for cell growth.
The Metal-Based segment will grow at a significant rate in the estimated period. It is due to the growing usage of smart nanomaterials in the fabrication of sensors, microcircuits, and passivation coatings.
Based on the end-user industry, the global smart nanomaterials market categorized into Pharmaceuticals, Transportation, Electronics, Construction, Environment, and Others. The pharmaceuticals segment held a lucrative share in 2019 and projected to dominate the global electric vehicle market by 2027. It is attributable to its use as an excellent carrier for controlled and sustained delivery of drugs, drug and gene delivery, sensitive diagnostic assays, and radiotherapy.
The Electronics segment will grow with a significant rate in the forecast period due to smart nanomaterials helpful in providing faster, smaller, and more portable systems that can manage and store larger and larger amounts of information.
Based on geography, the global smart nanomaterials market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s share in the smart nanomaterials market share by 2027, owing to the presence of key nanotechnology companies coupled with government support in terms of financial aids for R&D.
The Asia Pacific will drive with a lucrative rate by 2027 due to favorable government rules and regulations, along with growing investments in the nanotechnology industry in this region.
Companies such as Abbott, ANP Co., LTD, Akzo Nobel N.V., Bayer AG, BASF SE, Clariant, Donaldson Company, Inc., JM Material Technology, Inc., Nanologica, Nanogate, NanoBeauty, OPTINANOPRO, The Nano Gard L.L.C., and Yosemite Technologies Co., Ltd. are the key players in the global smart nanomaterials market.
By End-User Industry