Increasing Use of Carbon Nanotubes To Propel Nanochemicals Sales

Nanochemicals are developed by using nanotechnology on traditional chemical building blocks like ethane, propane, and butane. These chemicals offer better self-catalysis and anti-corrosion properties in comparison to other traditional chemicals. Moreover, the usage of nanochemicals reduces the time of chemical reactions. Owing to this feature, nanochemicals are being widely used in chemical-based products, which have numerous phases and provide maximum product yields. Thus, increasing demand for such chemical-based products is expected to accelerate the nanochemicals market at a CAGR of 6.3% during 2016–2022.

These chemicals find wide applications in armor design, chemical warfare, bicycle manufacturing, and military weapons. Moreover, increasing usage of these chemicals in end-use industries like healthcare, automotive, energy storage, and agriculture will boost their production in the coming years. The industries majorly use carbon nanotubes to produce strong materials for bicycles and smart materials for other sectors. Smart materials like piezoelectric materials, ferrofluids, shape memory materials, and self-healing materials are specifically designed so that their characteristics can be altered with the usage of external stimulus like temperature, stress, and pH.

The widening application base of nanochemicals has led to the development of specialized nanochemical materials that are designed to perform specific tasks or functions. These chemicals are widely used in machine tools (tungsten and high-carbon steel), dental filling (dental amalgam), and electronic equipment (high-purity silicon and germanium). Owing to the broadening application base, huge investments are being made in the research and development (R&D) of nanotechnology to scientifically assess the benefits and risks of nanochemicals. The rising frequency of R&D activities assist in comprehending the effects of nanotechnology on environment and human health.

According to P&S Intelligence, North America emerged as the leader in the nanochemicals market in the recent past, owing to the growth in the pigment and printing ink sector. Whereas, robust industrial developments and rapid shift of companies toward nanochemicals from conventional chemicals will fuel the Asia-Pacific (APAC) market at a considerable rate, in the coming years. The high-volume consumption of such chemicals in the rubber, electronics, and construction sectors in developing countries like India and China will boost the sales of nanochemicals in the foreseeable future.

Thus, the self-catalysis and anti-corrosion features of nanochemicals will amplify the production and usage of such chemicals in the coming years.

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