Global Gold Nanoparticles Market is expected to reach USD 4.86 billion by 2020, according to a new study by Grand View Research, Inc. Medical & dentistry was the largest end-use segment for the gold nanoparticles and accounted for over 50% of total demand in 2013. Growing metal nanomaterials use in medical diagnostics & imaging especially for drug delivery systems in cancer & tumor cell detection is expected to drive gold nanoparticles demand over the forecast period.
North America dominated the global gold nanoparticles market accounting for over 30% of global volume in 2013. Increasing R&D spending by individual nanotechnology companies and universities along with expanding medical diagnostics industry is expected to be the major factors driving gold nanoparticles demand in the region. Asia Pacific is estimated to witness the fastest growth at a CAGR of over 25% from 2014 to 2020. Growth of nanomaterials industry in countries including China, Taiwan, South Korea and Japan along with emergence of these regions as electronic manufacturing hubs is expected to fuel market growth over the next six years.
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Further key findings from the study suggest:
- In terms of volume, global gold nanoparticles market was estimated at over 3 tons in 2013, however, growth of several end-use industries and development of niche applications such as glass tinting and fruit & vegetable protection is anticipated to fuel future demand.
- Europe gold nanoparticles market accounted for over 20% of global revenue and is estimated to witness stable demand over the next few years owing to financial instability in the region.
- Electronic industry is estimated to witness the fastest growth at a CAGR of over 20% from 2014 to 2020. High demand for electronic biosensors and compact storage devices which requires gold nanoparticles inks and nanowires is estimated to drive market growth.
- Companies such as nanoComposix have developed proprietary technology for biosynthesis of nanoparticles. Others nanobiotechnology companies are expected to follow similar trends in order to develop innovative and ecofriendly methods for manufacturing gold nanoparticles.
- Global gold nanoparticles market is moderately fragmented with small regional and global manufacturers. Companies are continuously involved in R&D and are focusing towards developing application specific finished products. Major companies operating in global market include BBI Solutions, Nanosphere, Nanostellar Inc., Cytodiagnostics and Sigma-Aldrich.
For the purpose of this study, Grand View Research has segmented the gold nanoparticles market on the basis of end-use and region:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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