Nanocrystal market to grow at a CAGR of over 16% during the forecast period

The nanocrystal market generates revenue of around USD 82.5 million in 2020, and is projected to grow at a CAGR of over 16% during the forecast period from 2021 to 2027 to reach USD 233.16 million in 2027.
A crystalline particle is called a nanocrystal only if it is a particle with a dimension less than one thousand nanometers (nanometer). With its proven results, nanocrystals are broadly used in a variety of different industries. They were used in the manufacture of filters that refine crude oil into diesel fuel. Nanocristals can also be layered and applied to flexible substrates for the production of solar panels.

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Key Trends in Global Nanocrystal Market
Increasing demand for nanocrystalline cellulose
Nanocrystalline cellulose are very low on carbon footprint and also exhibit very low toxicity. Due to this, nanocrystals are increasingly being used as a strengthening agent in the manufacturing of industrial biocomposites. It can be employed in numerous end-user industries including but not limited to food & beverage, personal care, composites manufacturing, paints & coatings, paper processing, and pharmaceuticals. Large number of industrial applications such as composites, viscosifiers, and rheology modifier exhibit strong demand for nanocrystals. Other key applications of nanocrystalline cellulose include oil & gas, textiles, and construction.

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The impact of COVID 19 on the global nanocrystal market.
Covalent Oxide based growth rate has tremendously influenced the global Nanocrystal market. With strict regulation being imposed by most of the countries across the world on all kinds of activities except healthcare resulted in devastating effects on the healthcare industry. Nanocrystals industry is expected to shrink by 10% in the next year.With successful launch and mass vaccination program carried out by most of countries is expected to contain this pandemic and likely bring “U” shape recovery for this industry.
Global Nanocrystal Market by Type Insights
Nanocrystalline cellulose and nanocrystalline silicon are main three types of nanocrystal market. Nanocrystalline cellulose is the largest segment owing to its chemical as well as physical properties including low density, high degree of thermal stability, and high tensile strength.

Global Nanocrystal Market by Application Insights
Based on application, the nanocrystal market is segmented into medicine, electronics, aerospace, and others. Medicine segment is expected to dominate the Nanocrystal market due to the increase in use of nanocrystals for delivery of medicine in nanotechnology.

Global Nanocrystal Market by Regional Insights
The largest market for nanocrystal is North America and it accounted for about 40% of the total revenue generated. The growing initiatives by government of U.S. and Canada for use of nanocrystalline cellulose, growing public and private partnership for development of nanocrystals, and increasing research and development activities. Asia Pacific is expected to show high growth rate in the forecast period. Owing to the rapid development in research and development activities, demand for nanocrystal for drug delivery, and the rapid connection of cities using airways is expected to increase the demand for nanocrystal market in Asia Pacific.

Global Nanocrystal Market Competitive Landscape
The major players of the global Nanocrystal market include Integran Technologies, Nclear Inc., Hybrid Plastics, CelluForce, Arrowhead Pharmaceuticals, Chemat Technology, Advanced Diamond Technologies, Hyperion Catalysis International, Asahi Kasei Corporation, Advanced Nano Products, and others. The report covers detailed profiles of the key players.

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Medium: https://issuu.com/robsonspot/docs/nanocrystal_market.docx

Research gate: https://www.researchgate.net/publication/349828154_Nanocrystal_market_Analysis_Global_Size_to_Reach_Around_USD_23316_Mn_In_2027

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