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Nanoceramic Market Size
Nanoceramic Market is poised to record a lucrative CAGR from 2024 to 2032, fueled by a growing demand from the automotive sector. Nanoceramic coatings offer superior defense against scratches, dirt, water, and oil, thus enhancing the durability and aesthetics of vehicles. Furthermore, their excellent adhesion to car paint results in a glossy finish, favoring their popularity among consumers and manufacturers alike.
The widespread adoption of nanoceramics extends into biomedicine, particularly in bone repair applications. They act as nano-scaffolds, aiding in bone regrowth and supporting fracture healing processes. Moreover, nanoceramics help in dentistry by enhancing the mechanical characteristics of dental materials. Their use in advanced dental laboratories is revolutionizing the production of hybrid dentures, enabling them processed efficiently with a flexible fiber-reinforced resin substructure.
Impact of Russia-Ukraine war on nanoceramic market
The Russia-Ukraine war had a negative impact on nanoceramic industry on account of upheavals in global supply chains. In addition, it disrupted the operations of automotive sector, which is a major end-user of nanoceramics for paint applications. The geopolitical tension birthed by the war affected trade practices, which has further constrained industry development. However, joint efforts by world governments toward putting the conflict to an end are likely to bring some relief to the nanoceramic industry.
Nanoceramic Market Analysis
Based on end-use industry, building & construction segment is slated to exhibit a notable CAGR from 2024 to 2032, owing to the growing investments by world governments in green construction. Back in January 2023, the U.S. government allocated nearly USD 1.2 billion from the National Infrastructure Project Assistance discretionary grant program for nine projects across the nation. This will bolster the demand for nanoceramics as they offer enhanced strength, durability, and resistance to various environmental factors such as corrosion, abrasion, and weathering.
With respect to application, bone repair segment is expected to generate notable revenues for the market by 2032, driven by the compatibility of bioactive ceramics with the human bone. They provide scaffold for repairing bone tissues via mechanical stimulation. Growing cases of bone injuries and recent advances in bio ceramics for bone regeneration will further favor the segment growth.
North America nanoceramic market is predicted to experience significant growth through 2032, driven by the booming consumer electronics sector. The product is used across various electronic applications, including conductors, insulators, semiconductors, and magnets. Growing demand for consumer electronics in countries such as the U.S. will further stimulate the regional market growth. For instance, a recent analysis by S&P Global Market Intelligence forecasts that by 2026, there will be over 1.1 billion connected video devices in the U.S. Additionally, the number of smart TVs is expected to increase from 208.5 million in 2022 to 224.8 million in 2023 and 274.2 million by 2026.
Nanoceramic Market Share
The list of major nanoceramic industry players includes names such as:
- Ceramic Pro
- Nanophase Technologies Corporation
- Nitto Denko Corporation
- Nanoformula s.c
- NYACOL Nano Technologies, Inc.
- Tosoh Corporation
- Synkera Technologies, Inc.
With several governments investing heavily towards improving their biopharmaceutical capabilities, industry players are emphasizing on capacity expansion strategies to capitalize on the opportunity.
Nanoceramic Industry News
- In August 2023, 3DCeram Sinto, Inc. and SINTX Technologies collaborated to create new resins and processes for making ceramic products. They teamed up to develop these innovations for both biomedical and technical markets.