Nanofilms Market Size Worth USD 7.09 Billion By 2027 | Revenue Growth is Driven by Extensive Application of Nanofilms in Microelectronics, Storage, Solar Energy and Optics Industry, says Emergen Research
Vancouver, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) — The global nanofilms market size was valued at USD 2.06 Billion in 2019 and is projected to exceed USD 7.09 Billion in terms of revenue at a CAGR of 16.6% through 2027 according to a latest report by Emergen Research. The market growth is driven by extensive application of nanofilms in microelectronics, storage, solar energy and optics industry.
Nanofilms exhibit unique characteristics, including low surface energy, low friction coefficient, tensile strength, low deposition temperature, and others. The advantageous properties make these polymer films ideal for applications in energy storage devices and design of solar cells. Nanofilms are also used for surface modification process in microelectronics, which, in turn improves performance of new and existing products. Large-scale usage of nanotechnology to improve display screens on electronics devices, reduce power consumption while decreasing weight and thickness of the screens will foster nanofilms market growth.
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The commercial manufacturing of nanofilms is a the biggest challenge faced by industry players. Traditional methods of producing nanostructured materials cannot form effective nanostructures while effective methods like atomic layer deposition and langmuir-blodget microchemical method are expensive. These factors may restrain market growth to a certain extent.
Further key findings from the report suggest
- Based on application, the biomedical segment is forecast to register a CAGR of 20.4% over the forecast period on account of extensive biomedical applications of magnetic nano films. Biocompatibility and flexibility to carry drugs for controlled release are some of the advantageous features of nanofilms. Increasing product usage for closing incisions after laparoscopic procedures or open surgery will further boost segmental growth.
- In the regional landscape, Asia Pacific is expected to dominate the global nanofilms market with the largest revenue share over the forecast period. The robust growth can be attributed to the surging demand for solar energy and electronics in the region.
- The BRIC (Brazil, Russia, India, China) countries, which are also a major hub for the microelectronics industry are generating huge demand for nanofilms. Increasing focus of the major international microelectronic manufacturers on expanding their base in BRIC countries will boost market growth. Moreover, expanding population base, rise in disposable income, and rapid economic development are other key factors contributing towards the industry growth in emerging economies such as China and India.
- Europe is expected to contribute significantly to the global nanofilms market revenue share over the forecast period on account of major developments in modern healthcare techniques and increasing utilization of nanofilms for regenerative medicine, muscle tissue engineering and drug delivery.
- Key players operating in the global nanofilms market include Nano Therapeutics Pvt. Ltd, Nanofilm, Cosmo Films Limited, Smart Source Technologies, Nano Foam Technology Private Limited, Advanced Thin Film, MetaTechnica, NanoGram Corporation, Maxtek Technology, Nano Labs, Cosmo Films Ltd., and MetaTechnica, among others.
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For the purpose of this report, Emergen Research has segmented the global nanofilms market on the basis of processing type, application, thickness, and region:
- Processing Type Outlook (Revenue: USD Billion; 2017-2027)
- Application Outlook (Revenue: USD Billion; 2017-2027)
- Consumer Electronics
- Biomedical Sector
- Solar Energy & Storage System
- Optical Industry
- Thickness Outlook (Revenue: USD Billion; 2017-2027)
- 01 micron and Less
- 1 micron and Less
- 2 micron to 1 micron
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- Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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