According to a new technical market research report, Critical Materials in Global Nanotechnology Markets from BCC Research, the global market for critical materials used in nanotechnology was valued at nearly $6.5 billion in 2012 and is expected to increase to $6.8 billion in 2013. BCC Research projects the market to grow to nearly $9.4 billion by 2018, and register a five-year compound annual growth rate of 6.5 percent from 2013 to 2018.
Critical materials are economically and/or strategically important raw materials that are at significant risk of supply disruptions due to resource limitations, political instability in producing areas, or political decisions by producer governments. Potential shortages of critical materials and related price increases can affect the nanotechnology industry in two ways, that is, by jeopardizing existing nanotechnology applications of these materials and by creating new opportunities for other nanotechnology applications.
The United States and other advanced economies depend on the continued availability of various critical materials to ensure their economic prosperity and in some cases their national security. Strategies for ensuring the continued availability of these critical materials include stockpiling, developing new domestic supplies, or substitution.
The potential impacts of most critical materials on the nanotechnology industry are more than offset by the opportunities for substituting other nanotechnology applications that use less or none at all of the respective critical materials. The chief long-term exception is the platinum group metals, whose very large market as environmental and energy catalysts would be difficult to replace with any nanotechnology application now on the market.
This technical market report from BCC Research provides an overview of 12 critical materials or classes of materials with economically significant nanotechnology applications, including antimony, barium, gallium, indium, magnesium, biobium, platnium group metals, rare earths, rhenium, tantalum, tellurium, and tungsten. For each of these materials, the report contains an assessment of critical material supply/demand situation, price trends, and risk of disruption; applications in which nanotechnology can contribute to reducing/avoiding consumption of critical materials; technology assessment/market leaders; and the impact on the market for various nanotechnologies.
This report also examines, quantifies, and forecasts the growth of the market and offers guidance to interested parties. It includes analyses of global market trends, with data from 2012, estimates for 2013, and projections of CAGRs for the period, 2013 to 2018. Comprehensive company profiles of major players in the industry are also provided.
