Nanotechnology: A Realistic Market Assessment
The global market for nanotechnology was valued at nearly $20.1 billion in 2011 and should reach $20.7 billion in 2012. Total sales are expected to reach $48.9 billion in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 18.7%.
SCOPE OF REPORT
The global market for nanotechnology applications will be addressed. Nanotechnology applications are defined comprehensively as the creation and utilization of materials, devices and systems through the manipulation of matter at scales of less than 100 nanometers. The study covers nanomaterials (nanoparticles, nanotubes, nanostructured materials and nanocomposites), nanotools (nanolithography tools and scanning probe microscopes) and nanodevices (nanosensors and nanoelectronics).
A pragmatic decision was made to exclude certain types of materials and devices from the report that technically fit the definition of nanotechnology. These exceptions include carbon black nanoparticles used to reinforce tires and other rubber products; photographic silver and dye nanoparticles; and activated carbon used for water filtration. These materials were excluded because they have been used for decades, long before the concept of nanotechnology was born, and their huge volumes (especially carbon black and activated carbon) would tend to swamp the newer nanomaterials in the analysis.
In this case of pharmaceutical applications, this report measures the value of the particles that the particle manufacturer receives. Research dollars invested into designing better particles, or better delivery approaches, are not included. The value created through clinical trial success and eventual FDA approval and entrance as a prescription drug, are not included.
Nanoscale semiconductors are also excluded from the study, although the tools used to create them are included. Unlike carbon black and activated carbon, nanoscale semiconductors are a relatively new development. However, they have been analyzed comprehensively elsewhere, and, like carbon black and activated carbon, would tend to overwhelm other nanotechnologies by their sheer volume in the out-years towards 2017.
The study format includes the following major elements:
- Executive summary.
- Milestones in the development of nanotechnology.
- Current and potential nanotechnology applications.
- Applications and end users with the greatest commercial potential through 2017.
- Global nanotechnology market trends, 2011 through 2017.
- Factors that will influence the long-term development of nanotechnology.
- Market shares and industry structure.
Andrew McWilliams, the author of this report, is a partner in the Boston-based international technology and marketing consulting firm 43rd Parallel, LLC. He is the author of numerous other BCC Research nanotechnology studies, including the predecessor to this study, Nanotechnology: A Realistic Market Assessment (NAN031D); Global Medical Markets for Nanoscale Materials and Devices (HLC058A): Nanostructured Materials for the Biomedical, Pharmaceutical and Cosmetic Markets (NAN017D); Nanostructured Materials for Energy, Catalysis and Structural Applications (NAN017E); Nanostructured Materials: Electronic/ Magnetic/Optoelectronic (NAN017F); Nanotechnology in Energy Applications (NAN044A); Advanced Ceramics and Nanoceramic Powders (NAN015E); Global Markets for Nanocomposites, Nanoparticles, Nanoclays and Nanotubes (NAN021E); Nanopatterning (NAN041A); Nanotechnology in Life Sciences Applications (NAN038A); Nanotechnology for Consumer Products (NAN037A); Nanotechnology for Photonics (NAN036B); Nanocatalysts (NAN028A); and Nanosensors (NAN035A).
- Total worldwide sales revenues for nanotechnology were $11,671.3 million in 2009, and are expected to increase to more than $26000 Million in 2015, a compound annual growth rate (CAGR) of 11.1%.
- The largest nanotechnology segments in 2009 were Nanomaterials. All Nanomaterials will increase from $9,027.2 million in 2009 to nearly $19,621.7 million in 2015, a compound annual growth rate (CAGR) of 14.7%.
- Sales of Nanotools will experience high growth. This market segment was worth $2,613.1 million in 2009 and will increase at a 3.3% compound annual growth rate (CAGR) to reach a value of $6,812.5 million in 2015.
- Sales of Nanodevices will experience moderate growth. This market segment was worth $31 million in 2009 and will increase at a 45.9% compound annual growth rate (CAGR) to reach a value of $233.7 million in 2015.
- The global market for nanotechnology will increase from $11.6 billion in 2007 to an estimated $12.7 million by the end of 2008. It should reach $27 billion in 2013, a compound annual growth rate (CAGR) of 16.3%.
- Nanomaterials dominated the market in 2007, accounting for 87% of the total market. This is expected to decrease to 69.2% by 2013.
- Electronics, biomedical and consumer applications have high projected growth rates of 30.3%, 56.2% and 45.9% over the next 5 years.
BCC estimated the global market for nanotechnology products at nearly $9.4 billion in 2005 and over $10.5 billion in 2006, growing to about $25.2 billion by 2011 (an AAGR of 19.1% between 2006 and 2011). This figure includes established commercial nanomaterials applications, such as carbon black filler for inkjet inks, nanocatalyst thin films for catalytic converters, and new technologies such as nanoparticulate fabric treatments, rocket fuel additives, nanolithographic tools, and nanoscale electronic memory.
Nanomaterials, particularly nanoparticles and nanocomposites, dominated the nanotechnology market in 2005, accounting for over 86% of the market. Nanotools accounted for 10% of the market, and nanodevices the remaining 4%. Nanotools, which include the nanolithographic tools used to produce the next generation of semiconductors , are projected to grow at a much faster rate than either nanomaterials or nanodevices, and as a result their market share should increase to 30% by 2011.
The total global demand for nanoscale materials, tools and devices was estimated at nearly $7.5 billion in 2003 and is expected to reach $28.7 billion in 2008, at an AAGR (average annual growth rate) of 30.6%.
The nanomaterials segment, with some long-established markets, presently accounts for more than 97% of sales. By 2008, this share will have shrunk to 74.7%.
The fastest-growing nanomaterials are nanotubes (with an expected AAGR of 173%) and nanocomposites (76% AAGR).
Nanotools will increase their market share to 4.3% in 2008 and nanodevices will have established a major presence with a 21% share.