Nano-Materials for Energy and Environmental Market Size (2024 - 2030)

As of 2023, the Nano-Materials for Energy and Environmental Market recorded a value of USD 16.37 billion and is poised to attain a market size of USD 42.24 billion by 2030. It is estimated that during the forecast period spanning from 2024 to 2030, the market will witness a Compound Annual Growth Rate (CAGR) of 14.5%.

NANO-MATERIALS

Industry Overview:

Nanoscience and nanotechnology, interdisciplinary realms encompassing physicists, chemists, materials scientists, and engineers, converge in the quest for renewable energies to fuel emerging technologies and facilitate sustainable development for carbon capture and environmental preservation. Nanomaterials, seamlessly integrated into various applications, find utility in solar cells, fuel cells, secondary batteries, supercapacitors, air and water purification, as well as in the elimination of indoor and outdoor air pollutants. The development of novel nanomaterials capable of facilitating expedited reaction kinetics is often imperative for clean energy and environmental applications. Understanding the physicochemical, structural, microstructural, and surface attributes of nanomaterials is crucial to attaining the requisite efficiency, cycle life, and sustainability across diverse technological applications. Nanostructured materials, particularly 1D, 2D, and 3D nanostructures along with their engineered architectures, are increasingly leveraged due to their potential to foster sustainable growth in the energy and environmental sectors. Recent years have witnessed substantial investment in the optimization of nano-architectures to drive innovations in energy storage and conversion technologies, encompassing batteries, supercapacitors, fuel cells, solar cells, electrochromic devices, corrosion prevention, electrochemical sensors, pollution mitigation, contaminants removal, bifunctional catalysts for Oxygen Reduction Reaction (ORR) and Oxygen Evolution Reaction (OER), gas-to-fuel and liquid-to-fuel conversion, as well as photocatalysts.

COVID-19 Pandemic Impact on the Nano-materials for Energy and Environmental Market:

The emergence of the COVID-19 pandemic exerted a detrimental influence on the market for nanomaterials in energy and environmental applications. Consequently, numerous manufacturing facilities and production sites either shuttered or scaled down operations. The crisis adversely affected the demand for electronics, rubber energy, and environmental applications. Lockdown measures and the closure of international borders precipitated labor shortages and disruptions in the supply chain. Given that China serves as a significant producer of various electronic goods and considering the pandemic's origin in China, several leading corporations opted to relocate their operations to other Asian countries such as India and Vietnam.

MARKET DRIVERS:

Continuous Research and Development (R&D) endeavors and government funding propel the expansion of the Nano-materials for Energy and Environmental market:

Ongoing R&D initiatives in nanotechnology and nanomaterials are poised to fuel market growth. The escalating demand for microelectronics and nanoelectronics, coupled with the increased adoption of advanced gadgets, is anticipated to drive market expansion. Despite the majority of commercially available nanomaterials being in the nascent stages of their product life cycles, significant investments from industrial players and governmental bodies worldwide aim to unearth economically viable applications for this diverse array of nanomaterials. Over the years, substantial discoveries of novel and emerging applications for nanomaterials have been made with the support and funding from governmental entities.

Environmental benefits associated with nanomaterials drive the Nano-materials for Energy and Environmental market:

The primary objective of employing nanomaterials in energy storage lies in the establishment of energy-efficient systems. Notably, the production of single-walled carbon nanotubes (SWCNT) represents one of the most energy-intensive processes, demanding up to 100,000 MJ/kg of energy, whereas graphene production necessitates 500–1,000 MJ/kg, depending on the manufacturing method. Lithium-ion batteries incorporating ceramic separators at the nanoscale exhibit prolonged lifespan and reduced environmental impact by minimizing the frequency of replacements. Graphene and Carbon Nanotubes (CNTs) feature prominently in novel energy storage solutions.

MARKET RESTRAINTS:

High costs associated with nanomaterials and stringent regulations pose constraints to market expansion.

Nanomaterials incur substantial interaction and maintenance expenses, which could impede market growth. Escalating costs may emerge as a significant restraint. Furthermore, shortages in raw materials may curtail market expansion. Stringent regulatory frameworks, protracted manufacturing processes, and substantial investments in the development of nanotechnology-based solutions are among the key constraints likely to hinder market growth.

Nano-Materials for Energy and Environmental Market – By Applications

1. Batteries
2. Supercapacitors
3. Fuel cells
4. Solar cell
5. Photocatalysis/electrocatalysis
6. Adsorbing materials
7. Recyclable materials
8. Membrane materials
9. Water purification by removal of arsenic
10. Compressed natural gas reservoirs fabrication
11. High-temperature shale well drilling
12. Others

The segmentation of the Nano-Materials for Energy and Environmental Market according to applications includes Batteries, Supercapacitors, Fuel cells, Solar cell, Photocatalysis/electrocatalysis, Adsorbing materials, Recyclable materials, Membrane materials, Water purification by removal of arsenic, Compressed natural gas reservoirs fabrication, High-temperature shale well drilling, and Others. The development of innovative nanomaterials is crucial for environmental and clean energy applications, facilitating enhanced reaction kinetics and sustainable technological solutions. Understanding the physicochemical, structural, and surface properties of nanomaterials is essential for their effective utilization across diverse applications. Manipulating process parameters enables the production of nanomaterials with tailored dimensions and shapes such as nanotubes, nanofibers/nanowires, nanocones, nanocomposites, and nanoparticles, each offering unique functionalities.

Renewable energy technologies leverage nanoscale material properties to enhance efficiency, electrical storage capacity, and minimize environmental impact. Carbon-based nanomaterials play a pivotal role in the energy sector, with anticipated future applications in electrical and hydrogen energy storage. Notably, advancements in carbon nanotubes and graphene offer high surface area, cost-effective production, and exceptional conductivity, driving their increasing adoption across various energy applications.

Environmental nanomaterials, including photocatalysis, adsorption, and membrane technologies, facilitate pollutant removal and resource recycling. Materials incorporating carbon, metal oxides, and layered structures demonstrate efficacy in addressing environmental challenges.

Nano-Materials for Energy and Environmental Market - By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

The North American Nano-Materials for Energy and Environmental Market is poised for significant growth, driven by expanding applications across diverse industries such as biomedical, energy, and electronics. Initiatives like the National Nanotechnology Initiative (NNI) propel nanomaterial development, with notable contributions from the United States in solar energy capacity expansion. With a robust technological landscape and increasing R&D investments, North America is expected to maintain market dominance.

The Asia Pacific region is forecasted to exhibit the highest Compound Annual Growth Rate (CAGR) in the Nano-Materials for Energy and Environmental Market. Leading countries including China, India, South Korea, and Japan drive market growth through substantial investments in nanomaterial research and development.

Central and South America present promising market opportunities, attracting multinational corporations due to the region's untapped market potential. Brazil stands out as a hub for nanomaterial research and development in South America.

Key Players in the Market

The major players in the Nano-Materials for Energy and Environmental Market include:

1. BASF
2. Evonik Industries
3. EMFUTUR Technologies
4. Bayer AG
5. Sigma-Aldrich Co. LLC
6. SkySpring Nanomaterials
7. Altair Nanotechnologies Inc.
8. US Research Nanomaterials, Inc.

Recent Developments in the Nano-Materials for Energy and Environmental Market:

• Product Launch - In March 2021, Cabot Corporation introduced the ENERMAX 6 carbon nanotube (CNT) series, featuring high-performance multi-walled CNT products. This launch marks a significant advancement in conductive nanomaterials, enhancing the company's product portfolio.
• Product Launch - OCSiAl unveiled a state-of-the-art production facility for graphene nanotube dispersions for lithium-ion batteries in March 2021. The facility sets new standards for safety and cleanliness in graphene production, ensuring high-quality dispersions for energy storage applications.