Nanowires Market, by type (Metal Nanowires, Semiconductor Nanowires, Oxide Nanowires, Multi-Segment Nanowires), by Application (Consumer Electronics, Chemical and Biological sensors, Electronics, Solar Cells, Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
As per the report, Nanowires is a kind of nanostructures that holds many alluring properties like thermal, optical, chemical, electrical and mechanical properties. It is a type of solid structure in the form of wire, which have a diameter of few nanometers or less than that. These wires are made out of different conducting materials such as silver, silicon, copper, zinc oxide, gold, iron and germanium. Nanowires find application in different fields such as optical, electrical and magnetic fields. Possibly the most obvious use for nanowires is in electronics.
Although, nanowires may play a crucial role in the field of quantum computers. In January 2020, a team of researchers at National Chemical Laboratory (NCL) have developed an economical technology for manufacturing silver nanowires, which can be used in Nano-electronic devices in near future. It can be said that nanowires are the components for the future generation of photonics, both biological and chemical sensors, consumer electronics and renewable energy applications.
Factors Driving the Growth of Nanowires Market:
The boosting applications of Nanowires in several fields is contributing to drive the growth of global nanowires market. In March 2019, Nanowire experts at the National Institute of the Standards and Technology (NIST) have developed an ultraviolet light-emitting diodes (LEDs), that can produce five times higher light intensity than compared to LEDs with simple shell design. Ultraviolet LEDs can further promote its utility in medical disinfection, polymer curing and water purification.
Moreover, the applications for Nanowires is also growing in medication and healthcare field. Nanowires, owing to its properties such as high surface to volume ratio, high resistance and high crystallization, are increasing being used in nanomedicines and biomedicines. The juncture of nanosystems and biosystems is arising as one of the most dynamic areas of science and technology, bringing together several areas of medicines, engineering and biotechnology.
According to NCBI Report, the development of latest and powerful tools that enable direct and instant analysis of species, ranging from the diagnosis and treatment of diseases until the discovery of new drug molecules. Nanowires may also play an important role in nano-size devices like nanorobots. Doctors could use the nanorobots to treat diseases like cancer. In addition to that, growing investment in research and development to explore new areas of application of nanowires is also projected to fuel the global nanowires market growth.
However, the only setback in global nanowires market is the lack of reliable methods for assembling circuits. Nevertheless, the global nanowires market have an opportunity, owing to the rapid growth of potential uses of nanowires in electrical and electronic appliances.
The nanowires market is segmented on the basis of type into metal nanowires, semiconductor nanowires, oxide nanowires, multi segment nanowires, semi-conductor quantum nanowires and others. Further, the market is segmented on the basis of application into field effect transistors, magnetic devices, chemical biological sensors, logic gates, nanogenerators, solar cells and other applications. The global nanowires market is projected to grow at the significant rate in the near future. The geographical analysis of nanowires market is studied for North America, Latin America, Middle East, Asia-Pacific, Africa and Europe.
Some of the key participating players of the global nanowires market are Novarials Corporation, C3 Nano, OneD Materials, Cambrios Technologies, ACS Materials, Nano Composix Inc., RAS AG, Blue Nano Inc., Kemix Inc. and others.
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