Nano-Materials for Energy and Environmental Market Size (2023 - 2030)

In 2022, the Global Nano-Materials for Energy and Environmental Market was valued at USD 14.3 billion and is projected to reach a market size of USD 42.25 billion by 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 14.5%. 

Industry Overview:

Nanoscience and nanotechnology are interdisciplinary fields that unite physicists, chemists, materials scientists, and engineers to search for renewable energies for new technologies and sustainable development for carbon capture and environmental protection. Numerous applications have seamlessly incorporated nanomaterials and the technology used in their production. They have applications in solar cells, fuel cells, secondary batteries, supercapacitors, air, and water purification, and the removal of indoor and outdoor air pollutants. The creation of new nanomaterials that can offer the shortest reaction routes for the improvement of reaction kinetics is frequently required for clean energy and environmental applications. To achieve the requisite efficiency, cycle life, and sustainability in diverse technological applications, it is essential to comprehend the physicochemical, structural, microstructural, and surface features of nanomaterials. Due to their potential to accomplish sustainable growth in the energy and environmental sectors, nanostructured materials, especially 1D, 2D, and 3D nanostructures, and their designed architectures, are being used more frequently. Recent years have seen significant investment in research into the optimization of nano-architectures to achieve innovations in energy storage and conversions, including batteries, supercapacitors, fuel cells, solar cells, and electrochromic devices, as well as corrosion, electrochemical sensors, pollution and contaminants removal, and bifunctional catalysts for ORR and OER, gas to fuels, liquid to fuels, and photocatalysts.

COVID-19 pandemic impact on the Nano-materials for Energy and Environmental Market

The COVID-19 pandemic's emergence negatively affected the market for nanomaterials for energy and the environment. Consequently, several manufacturing facilities and production sites were closed down or their operations stopped. The demand for electronics, rubber energy, and environmental applications was adversely impacted by the crisis. During the pandemic, labor shortages and supply chain disruptions were caused by lockdown restrictions and the closing of international borders. China is a significant producer of numerous electronic goods, and the fact that COVID-19 originated in China has driven many leading corporations to relocate to other Asian countries like India and Vietnam.

MARKET DRIVERS:

The Nano-materials for Energy and Environmental market is expanding as a result of continuous R&D efforts and government funding

Ongoing research and development (R&D) into nanotechnology and nanomaterials are anticipated to drive market expansion. It is projected that increasing demand for microelectronics and nanoelectronics and rising usage of advanced gadgets would drive the market's expansion. The majority of commercially available nanomaterials are still in the early stages of their product life cycles. To identify economic uses for this diverse variety of nanomaterials, industrial players and governmental organizations are investing heavily worldwide. With government funding and backing, numerous novel and developing uses for nanomaterials have been discovered throughout the years.

Potential environmental advantages fuel the market for nanomaterials in energy and the environment

The major goal of using nanomaterials in energy storage is the creation of an energy-efficient system. The production of single-walled carbon nanotubes (SWCNT) is one of the most energy-intensive processes, requiring up to 100,000 MJ/kg of energy, compared to 500–1,000 MJ/kg for graphene, depending on the manufacturing process. Lithium-ion batteries with ceramic separators as nanoscale components have a longer lifespan and are less harmful to the environment because they don't need to be replaced as often. Graphene and CNTs are two nanomaterials used in novel forms of energy storage.

MARKET RESTRAINTS:

High prices for nanomaterials and strict regulations may limit market expansion.

Nanomaterials have a high interaction and maintenance cost. Cost increases may be a significant market constraint. Additionally, a shortage of raw materials can limit market expansion. Some of the major constraints that are likely to limit market growth are strict regulatory requirements, lengthy manufacturing procedures, and high investment in developing nanotechnology-based technologies.

NANO-MATERIALS FOR ENERGY AND ENVIRONMENTAL MARKET REPORT COVERAGE:

This research report on the global Nano-materials for Energy and Environmental Market has been segmented based on application, and region.

Nano-Materials for Energy and Environmental Market – By Applications

• 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

• Others

Based on Applications, the Nano-Materials for Energy and Environmental Market is bifurcated into 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. Environmental and clean energy applications frequently call for the creation of innovative nanomaterials that can offer the shortest reaction paths for the improvement of reaction kinetics. For diverse technological applications to be effective, cycle length, and sustainable, it is essential to comprehend the physicochemical, structural, microstructural, surface, and interface features of nanomaterials. By adjusting the process conditions, it is possible to create nanomaterials with precise dimensions and shapes, including nanotubes, nanofibers/nanowires, nanocones, nanocomposites, nanorods, nanoislands, nanoparticles, nanospheres, and nanoshells, which have special features.

The advantages of renewable energy include improved efficiency, enhanced electrical storage capacity, and reduced pollution from energy use. Renewable energy is produced by newly discovered features of materials at the nanoscale. The majority of carbon-based nanomaterials are used in the energy sector, and future uses in the storage of electrical and hydrogen energy are envisaged. The most widely used devices in the field of energy storage are batteries and capacitors. The most common uses for energy storage are batteries and capacitors. Other energy-related uses for carbon-based nanomaterials include solar cells and fuel cells. High-capacity capacitors can now compete with batteries because nanotechnology techniques considerably increase their electrical storage capacity compared to ordinary capacitors. The utilization of carbon, metal oxides, and conductive polymers as primary materials is being investigated; however, carbon nanotube research has made notable strides. Since graphene has a high surface area, a low cost of production in mass production, and great conductivity and capacity, it is playing an increasing role.

Environmental nanomaterials, such as environmental photocatalysis and electrocatalysis, adsorbing materials, recyclable materials, membrane materials, etc., are used to remove and reuse pollutants. Materials made of carbon, phosphorus, metal oxide, perovskites, and layered materials like MoS2, WTe2, LDH, clay, etc. are examples of energy and environmental nanomaterials.

Nano-Materials for Energy and Environmental Market - By Region

• North America

• Europe

• Asia-Pacific

• Rest of the World

Geographically, the North American Nano-Materials for Energy and Environmental Market is predicted to have the largest growth due to the expanding applications for nanomaterials in a variety of industries, including biomedical, energy, electronics, etc. The National Nanotechnology Initiative (NNI) initiative, is promoting the development of nanomaterials. The United States added 5.4 gigawatts of solar PV capacity in the third quarter of 2021 to achieve a total installed capacity of 113.5 gigawatts, which is sufficient to power 21.8 million American households. Therefore, it is anticipated that the market for nanomaterials in the United States would rise along with the increase in solar installations. Additionally, it is anticipated that it will continue to dominate the market during the projection period as a result of the use of cutting-edge technology, an increase in the number of R&D facilities, and rising consumer demand.

The Asia Pacific Nano-Materials for Energy and Environmental Market is anticipated to develop at the highest CAGR during the projected period. China, India, South Korea, and Japan are the market leaders for nanomaterials in the Asia Pacific region.

The market in Central and South America is poised to experience significant growth over the next years as several multinational corporations concentrate on growing their operations in the region's unexplored marketplaces. Brazil is acknowledged as being at the forefront of nanomaterials research among all South American nations.

Major Players in the Market

The major players operating in Nano-Materials for Energy and Environmental Market are

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.

Notable happenings in the Nano-Materials for Energy and Environmental Market in the recent past:

• Product Launch- In March 2021, Cabot corporation launched ENERMAX 6 carbon nanotube (CNT) series. The company's most recent advancement in high-performance CNTs is the ENERMAX 6 carbon nanotube products. It has established itself as the portfolio's most conductive multi-walled CNT product.

• Product Launch- In March 2021, OCSiAl launched one of the cleanest production facilities in the world for graphene nanotube dispersions for lithium-ion batteries. The recently opened plant establishes a new safety standard: the whole production process, including the packing area for finished dispersions and the quality control area, has been designed to a cleanroom class.