A recent report published by
Infinium Global Research on the nanowire market provides in-depth analysis of
segments and sub-segments in the global as well as regional nanowire market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional nanowire market over the short term as
well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of global nanowire market. According to the report,
the global nanowire market is projected to grow at a CAGR of 16.45% over the forecast
period of 2021-2027, growing from nearly USD 280 million in 2020 to about USD
805.72 million in 2027.
The specialty chemical and
material sector has gone through several transformations over the past few
years. Many public and private organizations are involved in developing
innovative materials that have unique physical and chemical properties.
Nanomaterials are materials with any of their dimension in the nanometer range.
There are various types of nanomaterials depending on their shapes such as
nanolayers, nanorods, nanoparticles, and nanowires. Nanowires are characterized
with a thickness ranging from 1-100 nanometers, while their length can exceed
the nanometer realm. Nanowires exhibit exceptional electrical, thermal, and
mechanical properties. These properties of nanowires make them suitable for a
wide variety of applications in electrical, magnetic, optical fields. Products
such as photovoltaics, sensors, transistors, piezoelectric generators, and
energy storage devices widely use nanowires.
The growing demand for
high-efficiency materials from the end-use industries is majorly driving the
nanowires market. Several modern products require materials with superior
electromagnetic, and mechanical properties, which are not offered by traditional
materials. Nanowires offer the enhanced properties required for advanced
products, augmenting the demand among the end-users. Moreover, the growing
demand for indium tin oxide (ITO) is further augmenting the market growth. ITO
is expensive to produce due to its limited reserves. The nanowires offer
optoelectronic properties similar to ITO, making them a credible substitute.
However, the lack of reliable manufacturing methods of nanowires is the major
restraining factor for the growth of the nanowire market. Nevertheless, the
advent of advanced technologies is anticipated to offer growth opportunities to
the nanowire market over the forecast period.
The global nanowire market is
segmented into North America, Europe, Asia Pacific, and RoW, in terms of
regions. Among these regions, North America accounted for the largest share in
the global nanowire market. The domination of North America was attributed to
the presence of leading electronic manufacturers. Moreover, higher investments
by private, and public organizations support the domination of North America in
the global market. Furthermore, Asia Pacific is estimated to grow at the
fastest rate due to the growing end-use industries such as electronics,
medical, and aerospace. Additionally, a large number of manufacturing
facilities are built in the Asia Pacific due to the availability of cheap
labor, and low manufacturing costs in countries such as India, China, and
Taiwan. Other factors such as rapid economic expansion, adoption of advanced
technologies, and growing urbanization in developing countries such as China,
India, and Korea are further driving the market growth of Asia Pacific.
The report on global nanowire
market covers segments such as type, and application. On the basis of type, the
sub-markets include metal nanowires, semiconductor nanowires, oxide nanowires,
multi-segment nanowires, and semiconductor quantum wires. On the basis of
application, the sub-markets include metal oxide semiconductor field effect
transistors, gas and chemical sensors, solar cells, nanogenerators, and others.
The report provides profiles of
the companies in the market such as C3Nano, Inc., RAS AG, NanoTechLabs, Inc.,
Cambrios Technologies Corp., ACS Material, LLC, American Elements, Novarials
Corporation, OneD Material, LLC, Alfa Chemistry, and Sisco Research
Laboratories Pvt. Ltd..
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the nanowire market. Moreover, the study highlights current market
trends and provides forecast from 2021-2027. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.