The report" Global Nanodiamonds" Market by Application (Finish polishing, Electroplating & Anti-Wear/Friction Coatings, Oil compounds, Others (Drug Delivery, Composites, Supercapacitors, Skincare, Batteries)) and Regional (North America, Europe, APAC, Latin America, The Middle East & Africa)- Global Forecast to 2030. "In 2020, the overall revenue value of the Global Nanodiamonds Market was USD 110.31 million, and the Nanodiamond market size is predicted to reach USD 371.48 million by 2030, with a CAGR of 12.91 % throughout the forecasted period.
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Key Factors Augmenting The Market Growth
The global Nanodiamonds market is being driven by increasing demand for Nanodiamonds in the biomedical industry and the increased use of lubricating oil and grease in the automotive industry.
By Application, the "Finish Polishing" segment holds the most significant market share.
Because Nanodiamonds are widely utilized in coating and polishing applications, the finish polishing category accounts for the largest proportion of the global nano diamonds market. The finish polishing application will increase at a CAGR of 12.4% during the forecast period. The use of finish polishing products is expected to increase as the demand for residential, commercial, and industrial constructions grows. In addition, the rising usage of Nanodiamonds in higher precision polishing formulations, such as silicon wafer polishing and glass and ceramics polishing, is a major driver of this segment's growth.
By Region, "Asia Pacific" comprehensively led the market in terms of revenue.
Due to the expanding use of Nanodiamonds in the automotive and biomedical industries, the Asia Pacific region led the market and is projected to continue to do so. As a result, the presence of lubricating oil, grease, NanoDiamond battery producers, and medical OEM manufacturers is predicted to boost nano diamond utilization in the Asia Pacific. Various countries imports it as China is the world's largest manufacturer of Nanodiamonds.
Some Of The Crucial Existing Market Players:
Below mentioned players are the ones who are the market leaders of the Global Nanodiamonds Market - CARBODEON LTD. OY, Kerridge Commercial Systems Limited, Ray Techniques Ltd, Daicel Corporation, SINO-CRYSTAL MICRO-DIAMOND, FND BIOTECH, Adámas Nanotechnologies, SINTA, TONG LI TECH CO LTD., Columbus NanoWorks Inc, NVISION IMAGING Technologies GmbH, MICRODIAMANT AG, NanoCarbon Institute Co., Ltd.
Recent Developments: -
On 4th April 2022, Ultra-uniform Nanodiamonds were generated without using explosives, and they have significant potential in drug delivery, sensors, and quantum computer processors. Scientists at the University of North Texas discovered a way to generate ultra-uniform Nanodiamonds without using explosives.
On 24th June 2021, Daicel developed the first fluorescent Nanodiamonds with silicon-vacancy colour centres with a single-digit nanometre size (SiV-ND). SiV-ND is expected to be used as a fluorescent probe in biosensing and bioimaging due to its outstanding fluorescent qualities of stable fluorescence emission at a biotissue-permeable wavelength and its extremely small size and biocompatibility.
On 15th January 2021, A team of scientists from The University of Queensland, Osaka University, and the National University of Singapore's Faculty of Engineering used microscopic nanodiamonds wrapped in a heat-releasing polymer to examine the thermal properties of cells, and it could pave the way for developing a new class of heat-based antibiotics that kill bacteria and cancer cells.