What Will Nanotechnology in Energy Market Look Like In The Future?

Nanotechnology in Energy Market is projected to surpass USD 384.8 million by 2030

OREGON, PORTLAND, UNITED STATES, June 5, 2023/EINPresswire.com/ --

The global nanotechnology in energy market size was valued at $139.7 million in 2020, and is projected to reach $384.8 million by 2030, with global nanotechnology in energy market forecast expected at a CAGR of 10.7% from 2021 to 2030.

Rapid increase in the electrical industry, increase in demand for nanotechnology in renewable energy, and high efficiency of nano-materials as compared to traditional materials are expected to create increased growth opportunities for the nanotechnology in energy market during the forecast period.

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Major companies profiled in this report include Nano Dimension, Ablynx, Advance reproductions corporation, Z-medica LLC, InMat Inc, APS material, Inc., Solarmar energy, Inc., Solar Botanic Ltd., Rogue Valley Micro, and Advanced Nanoproducts.

Nanotechnology has the potential to revolutionize the energy industry by enabling the development of more efficient and cost-effective energy technologies. Nanotechnology refers to the science of manipulating matter at the atomic and molecular scale to create new materials and devices with unique properties.

On the basis of material type, the global nanotechnology in energy market is segmented into nanostructured material, carbon nanotubes, fullerene, others. The applications covered in the study include photovoltaic film coating, fuel cells and batteries, thermoelectric materials and aerogels.

Some of the ways that nanotechnology is being used in the energy industry include:

Solar Cells: Nanotechnology is being used to develop new materials for solar cells that can absorb more sunlight and convert it into electricity more efficiently. For example, nanocrystals of materials such as silicon and perovskites can be engineered to improve the absorption of sunlight and reduce energy loss through heat.

Energy Storage: Nanotechnology is being used to develop new materials for batteries and other energy storage devices that can store more energy in a smaller space and charge and discharge more quickly. For example, nanomaterials such as graphene and carbon nanotubes can be used to increase the surface area of electrodes, allowing for more energy to be stored.

Fuel Cells: Nanotechnology is being used to develop new catalysts for fuel cells that can improve their efficiency and reduce their cost. For example, nanoparticles of platinum and other metals can be used as catalysts to improve the efficiency of fuel cells that generate electricity from hydrogen.

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Energy Efficiency: Nanotechnology is being used to develop new materials for insulation and other building materials that can improve energy efficiency and reduce energy consumption. For example, nanomaterials such as aerogels and nanoporous materials can be used to create insulation that is thinner, lighter, and more effective than traditional insulation.

Production of nano particles is little dangerous for working staff as these particles can be inhaled and settle in the human body such as brain and lungs. This situation can cause significant increase in biomarkers for inflammation and stress.

The Asia-Pacific nanotechnology in energy market is projected to grow at the highest CAGR of around xx%, in terms of revenue, during the forecast period.

Impact Of Covid-19

Emergence of COVID-19 had a positive impact on growth of the global market for a short period.

Increasing electricity usage and use of energy storage due to shifting working preferences is expected to boost the global market for a short span of time.

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The use of nanotechnology brought improvement in contact tracing tools during the covid-19 pandemic.

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