Plasmonic Materials Market Size is valued at 11.73 Bn in 2023 and is predicted to reach USD 36.39 Bn by the year 2031 at a 15.41% CAGR during the forecast period for 2024-2031.
The plasmonic materials market pertains to a segment within the materials science industry focused on materials that exhibit plasmonic properties. Plasmonic materials possess the ability to support surface plasmon resonances, a phenomenon involving the collective oscillation of electrons at the material's surface when exposed to specific wavelengths of light. These materials find applications across various industries and have garnered increasing interest, leading to market growth. The Plasmonic Materials Market has witnessed significant expansion in recent years, primarily attributed to advancements in nanotechnology, optics, and photonics. Plasmonic materials are now being deployed in diverse applications, further contributing to the market's progression.
Additionally, the market is expected to receive a substantial boost from the growing demand for cost-effective solar cell modules. Plasmonic solar cells are anticipated to see increased adoption, bolstering market growth. Furthermore, the broader interest in solar cells propels this trend because of the widespread adoption of renewable energy sources, a factor expected to propel the industry's expansion further.
Competitive Landscape
Some Major Key Players In The Plasmonic Materials Market:
- Nanopartz Inc.
- Nanocomposix Inc.
- Plasmonic Biosensors Inc.
- Nanospectra Biosciences Inc.
- Nanostructured and Amorphous Materials Inc.
- Cytodiagnostics Inc.
- Agilent Technologies Inc.
- Spherotech Inc.
- Tanaka Holdings Co. Ltd
- Others
Market Segmentation:
The plasmonic materials market is segmented on the basis of material and application. Based on material, the market is segmented as gold, silver, aluminium, copper, graphene and others. By application, the market is segmented into biosensors, drug delivery, optical data storage, hydrogen generation, cloaking devices and others.
Based On Materials, The Silver Segment Is Accounted As A Major Contributor In The Plasmonic Materials Market.
The silver category is expected to hold a major share of the global Plasmonic Materials market in 2024. The increasing demand for silver in the Plasmonic Materials Market is expected to continue to grow as researchers and industries discover new applications and technologies that benefit from silver's unique properties. This trend is likely to drive innovation as well as investment in the field. Governments and industry players are investing in research and development related to plasmonic materials and their applications, further fueling the demand for silver.
The Biosensors Segment Witnessed Growth At A Rapid Rate
The biosensors segment is projected to grow at a rapid rate in the global Plasmonic Materials market. The biosensors market, including those utilizing plasmonic materials, is subject to regulatory guidelines and standards, particularly in the healthcare and food safety sectors. The Plasmonic Materials Market in biosensors applications continues to expand as researchers and industries explore new opportunities for these materials in fields ranging from healthcare and life sciences to environmental monitoring and beyond. Ongoing innovation and advancements are expected to drive further growth and diversification in this market.
In The Region, The North American Plasmonic Materials Market Holds A Significant Revenue Share
The Asia Pacific plasmonic Materials market is expected to register the maximum market share in revenue in the near future. The region is witnessing the emergence of numerous startups. It established companies specializing in plasmonic materials and their applications. These companies were attracting investments and driving innovation in the field.
In addition, Europe is estimated to grow at a rapid rate in the global Plasmonic Materials market. Europe had a strong presence in plasmonic material research and development. Universities, research institutions, and companies in countries like Germany, the United Kingdom, and France were actively involved in developing new plasmonic materials and applications. Plasmonic materials were being explored for various European applications, including biosensors for medical diagnostics, enhanced imaging techniques, and more efficient photovoltaic cells for solar energy conversion.
Recent Developments:
- In March 2022, TANAKA successfully engineered gold shell nanoparticles with exceptional dispersion stability, enabling their synthesis at high concentrations. This product is specifically engineered to envelop the surface of particles, including silica, with an exceedingly thin gold shell measuring around 10 nanometers in thickness. A robust surface plasmon resonance is observed in it.
Plasmonic Materials Market Report Scope
|
Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 11.73 Bn |
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Revenue Forecast In 2031 |
USD 36.39 Bn |
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Growth Rate CAGR |
CAGR of 15.41% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn, Volume (Tons) and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Material, Application, |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ; France; Italy; Spain; South Korea; South East |
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Competitive Landscape |
Nanopartz Inc., Nanocomposix Inc., Plasmonic Biosensors Inc., Nanospectra Biosciences Inc., Nanostructured and Amorphous Materials Inc., Cytodiagnostics Inc., Agilent Technologies Inc., Spherotech Inc. and Tanaka Holdings Co. Ltd. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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