Market - EUON
Environment
The commercial market for nanotechnology in the field of environment includes soil remediation, water remediation, air remediation and sensors.
Global sales of nanotechnology products for air remediation applications accounted for nearly USD 9.4 billion in 2014. During the forecast period of 2015 through 2020, the market is expected to grow at a compound annual growth rate (CAGR) of 10.3%, to reach USD 16.7 billion in 2020. The nanotechnology market for water remediation applications totalled nearly USD 8.2 billion in 2014 and is expected to grow at a CAGR of 12.4% to reach USD 16.6 billion in 2020. Soil remediation applications accounted for nearly USD 5.9 billion in 2014 with forecast growth of CAGR 6.4% to reach USD 8.4 billion in 2020.1
The soil remediation market2 is divided into three types of application: natural, incidental and engineered. Natural applications refer to the in-situ use of nano-organic particles in remediation, such as bacteria. In incidental remediation the contaminated soil is removed and stored and/or treated ex situ. In engineered applications remediation is done in situ with the help of engineered nanomaterials.
The nanotechnology market for natural applications in soil remediation is forecast to increase from USD 2.4 billion in 2014 to USD 3.4 billion in 2020. Nano-organic particles, such as bacteria, have found use in soil remedial treatments. The nanotechnology market for incidental applications in soil remediation is expected to reach USD 2.7 billion in 2020. The nanotechnology market for engineered applications in soil remediation is forecast to reach nearly USD 2.3 billion in 2020. Recent developments of nanowires comprising potassium manganese oxide can clean up oil and other organic pollutants, while making oil recovery possible. The nanotechnology market for nanoparticles used in soil remediation is forecast to rise to USD 3.6 billion in 2020.3
The global market for ground water remediation has three main segments: ground water remediation, trace contaminant detection and surface water treatment. It is forecast that the nanotechnology market for groundwater remediation applications will increase from USD 3.4 billion in 2014 to USD 7 billion in 2020. Trace contaminant detection is expected to increase from USD 2.6 billion in 2014 to reach nearly USD 5.2 billion in 2020. The nanotechnology market for surface water treatment is forecast to rise from USD 2.1 billion to reach USD 4.4 billion in 2020.4
In terms of nanomaterials the most important markets are those for carbon nanotubes (CNTs), titanium dioxide, zero-valent iron, calcium carbonate and iron oxide.
1 BBC Research. (2015). Nanotechnology in environmental applications: The global market. Available at: https://www.bccresearch.com/market-research/nanotechnology/nanotechnology-environmental-applications-market.html
2 BBC Research. (2015). Nanotechnology in environmental applications: The global market. Available at: https://www.bccresearch.com/market-research/nanotechnology/nanotechnology-environmental-applications-market.html
3 BBC Research. (2015). Nanotechnology in environmental applications: The global market. Available at: https://www.bccresearch.com/market-research/nanotechnology/nanotechnology-environmental-applications-market.html
4 BBC Research. (2015). Nanotechnology in environmental applications: The global market. Available at: https://www.bccresearch.com/market-research/nanotechnology/nanotechnology-environmental-applications-market.html