Nanotechnology Market - Forecast (2023 - 2028)

The Nanotechnology Market size was accounted $65.1 billion in 2020 and estimated to grow at a CAGR of 16.9% during the forecast period 2021-2026. The market growth is attributed to increasing application of nanotechnology such as nanotubes and anocomposites in various sectors including electronics and semiconductors. In electronics and semiconductors, nanotechnology is being used to improve display screens, decrease power consumption and thickness, and increase the storage capacity of memory chips; while reducing its physical size, which in turn leads to miniaturization of electronic gadgets. The growing need for monitoring and evaluating the interactions of nanomaterials is standing as a challenge for the market. Also, the lack of a standardized market and quality benchmark establishment are challenging factors that the market is facing. The replacement of toxic inhibitors and the constantly growing need for the performance of protective coatings are the drivers of the nanocoatings and thereby nanotechnology market.



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