Nano Metals Market - Forecasts from 2022 to 2027

The global Nano metals market was evaluated at around US$7.049 billion during the year 2020 and is expected to grow at a CAGR of 1.58% to reach a market value of US$7.869 billion by 2027.

The market is expected to be driven by the rising demand in automotive, healthcare, construction, and other industries. There has been a substantial rise in healthcare, infrastructure, and construction spending globally, because of the rise in population and other related factors. According to the United Nations, by the year 2050, the population is expected to be around 9 billion people. Urbanization will also play an imperative role in overall market growth. The United Nations projected that by 2030, the world is expected to have 43 megacities, with over 10 million people living in them. 68% of the global population is projected to live in urban areas, by the year 2050, from 55% in the year 2018.

Increase in Healthcare Expenditure

The market is expected to be driven by the surge in healthcare expenditure by the nations globally. According to the data given by the World Health Organization, global spending on healthcare was USD 7.8 trillion in the year 2017 and was about 10% of the overall GDP. The United States had a major share of the total expenditure. According to the data given by the United States Department of Health and Human Services, the country’s healthcare spending rose by 4.6% from the year 2018 to reach USD 3.8 trillion in 2019. The overall share of gross domestic’s product on healthcare expenditure was 17.7% in the year 2019. Other countries have invested a significant sum of capital into healthcare expenditure in the last few years. India has seen a surge in its healthcare expenditure in the last few years.

According to the data given by the Indian Government, the overall public expenditure on healthcare was 1.8% of the GDP in the year 2020. The Indian Government had stated its goal to increase the public expenditure on healthcare to 2.5% of the country’s GDP by 2025. The total expenditure budget on medical research was approx. USD 290 million in the year 2020. China also has a substantial share of total healthcare expenditure. According to the OECD, China spent 5.047% of its overall GDP on healthcare in 2019. European Nations have been investing a significant sum of capital into healthcare expenditure. Germany, France, and Sweden spent 11.65%, 11.18%, and 10.88% of their overall GDP on healthcare in the year 2019. The increasing healthcare spending is expected to drive the overall market growth, as nano metals-based antimicrobials provide long-lasting solutions and bactericidal effects without any considerable toxic effects. Silver Nano Metals play a significant role in healthcare, as the material is usually known for its anti-microbial properties and applications. In June 2020, The CDMF (Brazil), The Universität Jaume I of Castello (Spain and the Institute of Biomedical Sciences of the University of Sao Paulo joined and collaborated to develop a fabric, which contained silver nanoparticles, to disable the SARS-CoV-2 virus in the laboratory tests. The teams stated that the material was removed approx. 99.9% of the virus in just two minutes of contact.

Increase in Research and Development

The market is expected to be driven by increased governmental spending on research and development globally. The governments and major private players have been investing a significant amount of capital into research and development to introduce and discover novel materials, products, and solutions for different end-user industries. According to the United Nations Educational, Scientific and Cultural Organization, the global spending on R&D had been at approx. USD 1.7 trillion. About ten major countries account for approx. 80% of the global spending is on R&D. The countries had pledged to surge and expand their R&D budget to address sustainable goals by researching novel materials, such as composites, nano metals, and others. The United States and China are the leading spenders on R&D, with the overall spending has been around USD 476 billion and USD 372 billion, respectively. Japan and Germany spend around USD 170 and USD 110 billion, respectively. South Korea, France, India, The United Kingdom, and Brazil are other top spenders in R&D, with approx. USD 73 billion, USD 61 billion, USD 52 billion, USD 44 billion, and USD 42 billion, respectively. Nano metals are usually used for recycling complex metals, reducing corrosion, and other applications, which is expected to drive the overall spending on the R&D of nanotechnology and metals.

Growth in the Automotive Sector

There has been a surge in demand for nano metals in the automotive sector, which is expected to drive the market in the coming years. According to the data given by Select USA, a government-affiliated investment site, The United States has been one of the biggest automotive markets globally, with total sales of lightweight vehicles reaching 17.2 million units, in the country, in the year 2018. The country is also the second biggest market for vehicle production and sales.

Major automotive companies from different regions and nations, such as Korea, Japan, and Europe, had invested more than USD 75 billion in the country. Total Foreign direct investment in the automotive industry was USD 114.6 billion in 2018. Around USD 18 billion is spent on R&D in the automotive industry in the country to develop novel nano metals and other materials, reduce weight, and increase flexibility. China is also expected to have a notable share in the market, as it has been the world’s biggest automotive market, both in terms of sales and production. According to the data given by the government, the country produced approx. 21.36 million passenger cars, and approx. 4.3 million commercial vehicles in the year 2019. India is also expected to have a large share in the market because of the high production and manufacturing facilities, rising population, and increasing disposable income. According to the India Brand Equity Foundation, a division of the country’s ministry of commerce, the country manufactured and produced 26.36 million vehicles in the financial year 2020. The country also registered a CAGR growth of 1.29%, between the financial years 2016 & 2020, with sales of over 21.55 million, in the financial year 2020. With the push for safer and fuel-efficient vehicles, nano steel is expected to register significant growth in the coming years. The chief advantage of nano steel is that it can deliver a unique combination of ductility and strength. The automotive industry spends significant capital developing third-generation and advanced, and innovative high-strength steel. The overall R&D in the automotive sector had been around USD 110 billion globally. These factors are expected to drive market growth during the forecast period.

Recent Developments

Nemo Nanomaterials, an Israeli start-up, released game-changing nanomaterials in January 2022, revolutionizing the potential of industrial additives in practically every market segment. Nemo Nanomaterials' patented dispersion process develops and preserves multifunctional nanostructures. It ensures a consistent and equal blend into any material.

NanoComposix and Pró-Análise struck an agreement in April 2021 to expand the commercialization of nanoComposix goods throughout Brazil. To ensure that products fulfill standards, all materials come with certifications of analysis that also include electron microscopy, hydrodynamic diameter, and optical tests for each batch. This is a strategic move.

NanoComposix updated they’re scaling up procedure for 40 nm gold citrate particles for application in lateral flow diagnostic assays in April 2021. This capability can increase production to at least 100 L at 20 OD, allowing for the monthly production of 30-50 million lateral flow strips. The increased manufacturing capacity will enable more competitive pricing, improved shipping and storage logistics, lower raw material costs for clients, and shorter lead times for bulk volume orders.

COVID-19 Impact

The COVID-19 outbreak has spurred global demand for accurate diagnosis and treatment, as well as prevention of virus dissemination. Nano-metal oxides, such as titanium dioxide & silicon dioxide, are a good choice for minimizing COVID-19 spread, especially in sensitive regions like healthcare facilities and public spaces. Nanotechnology-based solutions are successful at inhibiting numerous pathogens, such as viruses, regardless of their drug-resistant characteristics, biological structure, or physiology. By suppressing bacteria and fungi that may contaminate healthcare facilities, antimicrobial nano-metal oxides reduce the risk of secondary microbial infections in COVID-19 patients. However, due to trade restrictions and a lack of raw materials from China-based manufacturers as a result of the COVID-19 epidemic, a major demand-supply mismatch has developed, which is anticipated to limit the market growth.

Segmentation:

By Type

• Aluminum
• Titanium
• Platinum
• Silver
• Gold

By End-User

• Construction
• Energy
• Electronics
• Automotive
• Healthcare

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia