UNITED STATES NANOTECHNOLOGY IN ENERGY APPLICATIONS MARKET FORECAST 2023-2030

The United States government has recognized the potential of nanotechnology in the energy sector and has been actively supporting research and development initiatives. Funding programs from agencies such as the National Nanotechnology Initiative (NNI) and the Department of Energy (DOE) have accelerated the growth of nanotechnology in energy-related applications. Moreover, the partnerships between academia, industry and government organizations are crucial for the advancement and commercialization of nanotechnology in the energy sector. Collaborative efforts, in this regard, facilitate knowledge sharing, technology transfer and the development of scalable solutions.

The key drivers for the United States nanotechnology in energy applications market growth are the rising demand for renewable energy, the growing need for energy security, the need for cost reduction and scalability, as well as government programs and policies to advance the use of nanotechnology within the energy sector. The development of renewable energy technologies like solar cells, wind turbines, and bioenergy is greatly aided by nanotechnology. 

Quantum dots are an example of a nanoscale substance that can improve the light absorption and conversion efficiency of solar cells, increasing their cost-effectiveness and competitiveness. The installation of new plants, long-term agreements, and major grid access collectively contributed to the advancement of renewable energy in 2020, despite decreased electricity demand, supply chain challenges, and construction delays in several regions of the country.

However, the field of nanotechnology is highly competitive, and protecting intellectual property rights can be challenging. Moreover, developing and commercializing nanomaterial-based energy technologies requires significant investments in research and development. Owing to this, companies may be hesitant to invest if they cannot protect their innovations from being copied or infringed upon. Nanotechnology innovations may also be eligible for patent protection if they meet the criteria of novelty, non-obviousness, and industrial applicability; the invention must be new and inventive compared to existing knowledge, and it should have a practical application within the energy sector. Furthermore, nanomaterials, nanoscale devices, and unique processes or methods involving nanotechnology can potentially be patented, as well.

Inkwood Research’s report on the United States nanotechnology in energy applications market provides in-depth insights and segmentation analysis of the market. The detailed analysis of the market includes PESTLE analysis, competitive landscape, COVID-19 impact, and value chain analysis. In addition, the segmentation analysis includes material type, application, and end-user.

Eminent players operating in the market include Honeywell International Inc, Aspen Aerogels Inc, The Chemours Company, Black Diamond Structure LLC, NEI Corporation, etc.