According to Statista¹, the global market of nanotextiles will grow from a projected 5.1 billion U.S. dollars in 2019 to some 14.8 billion U.S. dollars by 2024. The compound annual growth rate is expected to be 23.6 %.

The recent forecast by The Business Research Company shows that the global nanotechnology clothing market size is expected to grow from 4.61 billion U.S. dollars in 2021 to 13.83 billion U.S. dollars in 2026 at a compound annual growth rate (CAGR) of 24.6%².

According to the recent report by the European Commission³, the data of Cosmetic Product Notification Portal (CPNP) shows that from 2013 to 2020, 37 647 cosmetic products containing nanomaterials were notified to the portal and placed on the EU market. Notifications of cosmetics containing nanomaterials comprise approximately 1.5% of all cosmetic products notifications, which indicates a limited use of nanomaterials in cosmetics. On average, about 3620 new cosmetic products with nanomaterial ingredients are notified, meaning that approximately ten new cosmetic products are placed on the EU market per day⁴.

¹ Statista. (2022). Market Value of Nanotextiles Worldwide in 2019 and 2024. Available at: https://www.statista.com/statistics/1038209/global-nanotextiles-market-value/

² The Business Research Company (2022). Nanotechnology clothing global market report 2022. Available at: https://www.thebusinessresearchcompany.com/report/nanotechnology-clothing-global-market-report 

³ European Commission (2021). Report from the Commission to the European Parliament and the Council on the use of nanomaterials in cosmetics and on the review of Regulation (EC) No 1223/2009 on cosmetic products as regards nanomaterials. Available at: https://data.consilium.europa.eu/doc/document/ST-11068-2021-INIT/en/pdf 

⁴ Ibid.