Nanowires Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The nanowires market is expected to witness a CAGR of more than 25% during the forecast period. The major factors driving the growth of the market studied are the emerging applications of nanowires in LEDs, nano-medicines, and consumer electronics, and the increasing investments in R&D to explore new areas of application. On the flipside, the lack of reliable methods for assembling circuits serves as one of the stumbling blocks in the growth of the market studied.

• The metal nanowires segment dominated the market and are likely to grow during the forecast period, owing to the unique thermal, mechanical, electrical, and catalytic properties of metal, which makes it suitable for use in various electronic applications.
• The increasing potential uses in the electrical and electronics industry is likely to provide opportunities for the market studied during the forecast period.
• Asia-Pacific dominated the market across the world, where the demand for nanowires is majorly driven by the increasing application and demand from industries, such as consumer electronics, solar cells, and other electronic devices.

Key Market Trends

Consumer Electronics Segment to Dominate the Market Demand

• Nanowires, due to properties, such as high crystallinity, high surface to volume to ratio, and high resistance, are extensively used in consumer electronics.
• Metal nanowires are widely used in the manufacturing of consumer electronics. Nanowires find application in displays, sensors, transistors, memory devices, LEDs, conductors, etc.
• Besides, nanowires allow for faster communication between devices and microchips, which has increased its application in consumer electronics, such as smartphones, television, GPS tracking devices, identification cards, internet routers, etc.
• Hence, with the diversified application of nanowires in numerous electronics, the demand for nanowires is expected to increase with the rise in production in the electronics industry.
• Asia-Pacific has been witnessing numerous investments in the electronics industry. The growth in electronics production, especially in countries, such as China, India, South Korea, and Japan, etc.
• According to SESEI and MeitY, In India, the total production value of consumer electronics increases by about 2.4% in FY 2018 from the previous year and it is expected to grow rapidly over the forecast period.
• All the aforementioned factors are likely to increase the demand for nanowires for electronic applications in the region, during the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region dominated the global market share, owing to the increasing demand from industries, such as electronics, aerospace, solar cells, sensors, etc.
• China stands to be the largest market for nanowires, as the country has been engaging in R&D activities for the development of nanotechnology.
• The country has a higher usage of nanowires in applications, such as electrical and electronics, construction, healthcare, and aerospace.
• China is the world’s largest producer of electronics. Owing to the growing electronic production, the government has set a goal for the semiconductor industry, to reach USD 305 billion in output, by 2030.
• Japan is one of the largest producers of electronic and energy equipment. The country is also witnessing new solar projects in the country to increase the share of renewable energy.
• For instance, Grasshopper Solar planned an investment of USD 80 million in Japan’s Lizuka solar plant, owned by Setouchi Koken, in September 2018. Hence, this is projected to create demand for solar panels, which is further expected to create demand for nanowires for application in solar cells.
• Similarly, the Japanese company, SoftBank Group, decided to invest USD 60 billion – USD 100 billion in a solar power project in India, which is expected to drive the demand for solar panels, and thereby solar cells.
• Besides, South Korea is one of the major exporters of electronics. Thus, with growing domestic as well as foreign demand for its electronic products, the market players have been increasing their industrial output in the country.
• Hence, all the above-mentioned market trends in the region are expected to drive the demand for nanowires market during the forecast period.

Competitive Landscape

The nanowires market is a highly fragmented market, where numerous players holds insignificant share of the market to affect the market dynamics individually. Some of the noticeable players in the market include Cambrios Technologies Corp., ACS Materials, NanoComposix Inc., RAS AG, and Novarials Corporation, among others.

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