Nanomaterials Global Market Is Expected To Reach $19.83B by 2022: study

In New York, Stratistics MRC has released a report projecting that the Global Nanomaterials Market accounted for $4.79 billion in 2015 and is expected to reach $19.83 billion by 2022 growing at a CAGR of 22.5% from 2015 to 2022. The nanomaterials market is favoured by the governmental funding to support the prospective growth. The increasing applications of nanotechnology across various verticals and advent of novel methods for nanostructures fabrication are offering lucrative opportunities for vendors in the market. Partnerships & strategic alliances by existing players, growing number of players operating in the market and newer material developments are further fueling the market. However, rising environmental concerns and toxicity of nanomaterials have a negative impact on the market.