Global Nanotechnology Market to Reach $64.2 Billion in 2019
Wellesley, Mass. (PRWEB) January 29, 2015
BCC Research (http://www.bccresearch.com) reveals in its new report, Nanotechnology: A Realistic Market Assessment, that the global market for nanotechnology is expected to grow to $64.2 billion by 2019, with a five-year compound annual growth rate (CAGR) of 19.8%. Nanodevices, the fastest moving segment of the overall market, are anticipated to move at a tremendous 34% CAGR.
Nanotechnology — the creation and utilization of materials, devices, and systems through the manipulation of matter at scales of less than 100 nanometers — continues to have a broad and fundamental impact on nearly all sectors of the global economy, including the biomedical, electronics, energy, environmental, and pharmaceutical industries.
Nanomaterials, particularly nanoparticles and nanoscale thin films, dominated the nanotechnology market in 2013, accounting for 78.8% of the market. This segment is predicted to grow to $52.7 billion by 2019 and register a healthy 20.7% CAGR.
Meanwhile, the nanotools category, which is comprised of devices that are used to manipulate or measure nanoscale objects or substances, accounted for 21% of the 2013 nanotechnology market. This segment is expected to reach nearly $11.3 billion by 2019 to register a solid CAGR of 16.2%
However, the nanodevices category, which was valued at just $39 million in 2013, is projected to surge to $183.4 million in 2019. This growth will primarily be driven by increasing consumer demand for smaller and more powerful electronic devices.
"Increased R&D spending in both the private and public sectors is driving the development of commercial nanomaterials applications such as nanocatalyst thin films for catalytic converters, as well as new and emerging technologies such as nano-thin film solar cells, nanolithographic tools, and nanoscale electronic memory," said BCC Research nanotechnology analyst Andrew McWilliams. "Rising demand for miniaturization in electronics, as well as public health and environmental concerns are anticipated to shape significant growth in this market for the foreseeable future."
Nanotechnology: A Realistic Market Assessment provides an overview of the global nanotechnology market. It includes analyses of global market trends, with data from 2013, estimates for 2014, and projections of CAGRs through 2019.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information(at)bccresearch(dot)com.