Expansion In Government Funding Programs Offering New Application Base For Nanomaterials

Complex oxide nano materials market is observing lucrative growth opportunities owing to high government funding for the development of nanotechnology across the globe backed by increasing adoption of oxide nanomaterials in varied sectors such as electronics, healthcare, energy etc.

Surge in government funding across the globe has resulted in the boost of research and development activities to find new applications of nanomaterials thereby driving the investment flow in complex oxide nanomaterials applications. For instance, according to National Nanotechnology Initiative in the US, president budget of 2019 provided about $1.4 billion for the national nanotechnology initiative for investments in early stage applied research, basic research and efforts for breakthrough technology transfer. Further, as per European Commission, Horizon 2020 that is the biggest research and innovation program with a funding of $89 billion for seven year (2014-2020) aims to bridge the gap between market and nanotechnology research. Similarly, as per the Centre for Nanoscience and Engineering based in Indian Institute of Science (India), started Nanoscience and Technology Initiative (Nano Mission) started with a funding of $5.83 million was extended by 2017 as a phase 2 in order to promote nanotechnology based research in the country. Rising research funding has helped to drive novel application base for complex oxide nanomaterials that includes, consumption in next generation lithium battery production, dental implants, advanced bone regeneration etc.

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Asia Pacific to offer high growth prospects for Lithium Titanate based next generation batteries

Complex oxide nanomaterials such as Lithium titanate are finding increasing utilization in next generation battery technology. Utilization of nanomaterial in electrode of Lithium Ion battery offers improvements in power, energy and Life cycle. Owing to high production of such batteries in Asia Pacific region, the market is offering lucrative growth opportunities to the complex oxide nanomaterial suppliers and manufacturers.  According to the World Economic forum, the annual deployed capacity of Lithium Ion battery has surged with 500% in 2018. Furthermore, as per the China Internet Information Centre, top 3 Asian countries that includes China, South Korea and Japan dominates the production market of Lithium Ion batteries globally as of 2018, thereby providing immense opportunity to the nanomaterial providers for power storage application.

Further, new advancements in complex oxide nanomaterials such as use of bioactive calcium phosphate for bone regeneration and coating application in orthopaedic and dental surgeries can be observed to promote new growth propects in the market.  Use of complex oxide nanomaterials in dental surgeries offer several benefits that results to produce successful outcome. for instance, Nanocrystals of bioactive calcium phosphate deposited on titanium implants are resorbable that result to stimulate healing and bone apposition. This greatly helps to enhance the clinical success rate in dental implant surgeries. Furthermore, it can be observed that expansion in funding programs by government during forecast years are expected to allow the researchers to further expand the new application base of complex oxide nanomaterials.