Nanotechnology In Energy Market to incur value growth at 12.0% for the period of 2018-2023

The global market for nanotechnologies in energy applications should grow from $5.7 billion in 2018 to reach $10.0 billion by 2023 at a compound annual growth rate (CAGR) of 12.0% for the period of 2018-2023.

Report Scope:

The report focuses on the global market for nanoscale materials (e.g., nanopowders, nanocomposites, nanoscale thin films and others) and devices (e.g., nanosensors) used in renewable and non-renewable energy production (e.g., petroleum refining, solar energy) and energy storage (e.g. batteries and fuel cells). In the other types of applications (e.g. energy transmission, energy conversion, energy end uses), nanotechnology consumption is negligible.

The report concentrates on nanotechnology applications that are currently in commercial use or are likely to be commercialized by 2023. Other applications that, while promising, are not likely to make it out of the laboratory by 2023, are not covered in depth.

The report does not cover nanoscale materials and devices used to monitor and/or control the environmental impacts of energy production, or use such as nanomaterials used in automotive catalytic converters. These technologies are outside the scope of this study and are covered in detail in several other BCC Research reports such as the report “NAN039C Nanotechnology in Environmental Applications.”

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The report format includes the following major elements –
– Executive summary.
– Description of nanomaterials and nanodevices used in energy applications, including properties and fabrication methods.
– Overall market size, segmentation and growth trends.
– Major energy applications of nanoscale materials and devices.
– Description.
– Types of nanomaterials/nanodevices used.
– Principal developers/manufacturers.
– Patents.
– Journal publications.
– Consumption of nanomaterials and nanodevices, 2018-2023.

Estimated values used are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.

Report Includes:

– 65 data tables and 15 additional tables
– An overview of the global market for nanoscale materials (nanopowders, nanocomposites, nanoscale thin films, and others) and devices (nanosensors)
– Analyses of global market trends, with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Discussion of nanotechnology applications that are currently in commercial use or are likely to be commercialized in the next five years
– An in-depth technology review and a detailed patent analysis
– Profiles of major companies of the industry, including Altair Nanotechnologies Inc., Dow Chemical Co., Honeywell UOP, Johnson Matthey, Plc and Mach 1 Inc.

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Summary

This report describes the market for nanoscale materials and devices used in current and future generations of energy devices and systems. The focus is on nanotechnology applications that are in commercial use today or are likely to be commercialized by 2023.

BCC estimates the total energy-related market for nanotechnologies at about REDACTED in 2017, a figure that is expected to climb to REDACTED in 2018, and amount to over REDACTED in 2023 (a CAGR of REDACTED over the next five years). It is worth noting that, unlike the two previous versions of this report,these figures do not include consumption of industrial enzymes, as enzymes are not included in mostassessments of the overall nanomaterials market.

The market is dominated by nanostructured monolithic materials with a share of REDACTED of the total market value in 2017, and which is anticipated to slightly decrease to REDACTED in 2023. This is mainly because these materials are essential in petroleum refining, which represents, by far, the energy application with the biggest consumption of nanomaterials. Solid nanoparticles had the second largest market share projected to about REDACTED of the total market by 2023. Other nanomaterials with much smaller market shares in 2017, nanothin films and nanodevices, will climb a little by 2023 to reach REDACTED and REDACTED of the total market, respectively. Nanocomposites will remain low (about
REDACTED in 2023) and hollow nanoparticles (such as carbon nanotubes) had no significant commercial sales in 2017, and it is difficult to project the future of this market that we believe will remain weak by 2023.

Refining is by far the largest user of nanotechnologies in the full period considered in this report: REDACTED of the market in 2017, projected to about REDACTED in 2023. Energy storage and fuel cells were the second largest user of nanotechnologies in 2017, with REDACTED and REDACTED, respectively; energy storage is projected to reach REDACTED of the market, and fuel cells to reach REDACTED in 2023. This strong increase in market share is largely due to applications in the transport sector. The market for electric or fuel cell vehicles will grow in the coming years, especially in Asia, and the development of lithium-ion batteries and fuel cells is partly based on nanotechnology applications.

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