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MARKET OUTLOOK

Triton Market Research’s report displays that the Asia-Pacific nanomaterials market is evaluated to witness growth at a compound annual growth rate of 14.38% in value and 15.02% in volume during the registered period 2021-2028. South Korea, Australia & New Zealand, China, India, Japan, ASEAN countries, and Rest of Asia-Pacific form the market in this region.

In Japan, the construction of Tokyo’s Tsukiji Elevated Park, replacing the existing Tokyo Expressway, is anticipated to be completed by 2029. Moreover, Osaka is set to host the World Expo in 2025, which will positively impact the studied market’s growth. Additionally, the construction sector is mainly driven by redevelopment and recovery activities from natural disasters. Given the rise in construction activities in the country, the demand for nanomaterials is likely to amplify in the next few years. Hence, the well-developed construction sector supports the overall growth of the nanomaterials market across Japan. 

Similarly, the construction sector has witnessed tremendous growth in India over the past few years. Moreover, the surge in the services sector, especially financial and IT services, has increased the country’s construction of commercial spaces. Furthermore, the smart cities mission is a major project undertaken by the Indian government, which is set to construct over 100 smart cities to achieve rapid urbanization. Along with this, the government plans to offer incentives to boost electronics manufacturing in the country. Hence, such booming industries offer several opportunities to the nanomaterials market. 

COMPETITIVE OUTLOOK

Major companies in the nanomaterials market consist of Nanocyl SA, BASF, Showa Denko KK, Raymor Industries, and Nanosys.