Nanotechnology in Energy Market Size, Share, Competitive Landscape and Trend Analysis Report, by Material Type, Application and End Use : Global Opportunity Analysis and Industry Forecast, 2021–2030

Nanotechnology in Energy Market - 2030

The global nanotechnology in energy market size was valued at $139.7 million in 2020, and is projected to reach $384.8 million by 2030, with global nanotechnology in energy market forecast expected at a CAGR of 10.7% from 2021 to 2030. Nanotechnology has various applications in different areas, which include electronics, where most commonly used nanomaterials are carbon nanotubes, quantum dots, and silver nano particles used for surface coating. Rapid development in electrical and electronic systems around the world, especially portable gadgets such as laptops and smartphones has increased demand for variety of nano-materials used in the electrical sector. Increase in use of nanoparticles in various electronics application ranging from conductive inks to electronic chips further increases its sales. In addition, rapid growth of the electronics industry in developing countries is anticipated to considerably boost growth of nanotechnology in the energy market in the upcoming years. Furthermore, research and development toward production of advanced electronic products such as touchscreen smartphones, sensors, electronic chips, and fuel cells is expected to create increased opportunities for key players in the nanotechnology in energy industry during the forecast period.

Rapid innovation and scientific development of hydrogen fuel cells for storage of excess energy from renewable energy sources is a prominent factor expected to increase sales of nanotechnology in energy market during the forecast period. Many countries have started to build green hydrogen production plants such as countries in Australia and Europe. Increase in demand for electricity and eco-friendly automotive vehicles such as electric vehicles and hydrogen vehicles has increased demand for hydrogen fuel cells. Increase in demand for hydrogen fuel cells has driven demand for nanotechnology in energy market during recent times. Rapid development in technology has increased demand for electricity. This has led to increase in demand for renewable energy resources such as wind, solar, and geothermal. Major investments from various countries around the world toward renewable energy made global energy giants invest in this sector and generate many innovations using nanotechnology majorly in design aspects and material aspects to increase efficiency of energy storage devices. Rapid urbanization, industrialization, and increase in price of fossil fuels are major factors expected to drive growth of the nanotechnology in energy market throughout the forecast period.

Low switching cost of nanotechnology-based materials toward traditional materials such as silicon, silver, transition metal oxides, germanium is expected to hinder growth of nanotechnology in the energy market during the forecast period. In addition, environmental and health concerns due to use of nanotechnology is another factor expected to hamper growth of the market.

The global nanotechnology in energy market is segmented on the basis of material type, application, end use and region. 

On the basis of material type, the global market is segmented into nanostructured material, carbon nanotubes, fullerene, others. The applications covered in the study include photovoltaic film coating, fuel cells and batteries, thermoelectric materials and aerogels. The end uses covered in the study include electrical, manufacturing, renewable & non-renewable energy and others.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia Pacific and Europe. 

The major companies profiled in this report include Nano Dimension, Ablynx, Advance reproductions corporation, Z-medica LLC, InMat Inc, APS material, Inc., Solarmar energy, Inc., Solar Botanic Ltd., Rogue Valley Micro, and Advanced Nanoproducts. 

Key findings of the study

• The Asia-Pacific nanotechnology in energy market is projected to grow at the highest CAGR of nearly 11.2%, in terms of revenue, during the forecast period.
• By material type, the carbon nanotubes segment accounted for the largest market share in 2020.
• On the basis of application, fuel cells and batteries segment accounted for the largest market share in 2020
• On the basis of end use, the electrical segment accounted for the largest nanotechnology in energy market share in 2020.

Impact Of Covid-19 On The Global Nanotechnology In Energy Market

• Emergence of COVID-19 had a positive impact on growth of the global market for a short period.
• Increasing electricity usage and use of energy storage due to shifting working preferences is expected to boost the market for a short span of time.
• The use of nanotechnology brought improvement in contact tracing tools during the covid-19 pandemic. These factors are expected to support the global nanotechnology in energy market growth in current times.

Key Market Segments

By Material Type

• Nanostructured material
• Carbon nanotubes
• Fullerene
• Others 

By Application

• Photovoltaic Film Coating
• Fuel cells and Batteries
• Thermoelectric Materials
• Aerogels

By End Use

• Electrical
• Manufacturing
• Renewable & non-renewable energy 
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA