Iranian Nanotechnology Products Market
The market for nanotechnology products made in Iran in 2020 has amounted to over $550 million, with a 7.3%, export share, according to a review reported by Iran Nanotechnology Innovation Council (INIC). Among the various industrial fields, the construction sector has the lion’s share in the Iranian nanotechnology market.
Given the expansion of nanotechnology market and substantial increase in competitiveness among the domestic nano-industries as one of the main goals of Iran’s nanotechnology development program by 2025, having access to precise statistics and accurate information on domestic and international markets of these products are deemed to be among the principal requirements in formulating policies and plans. To this end, the Iran Nanotechnology Innovation Council (INIC) conducts a survey of companies manufacturing nanotechnology products and equipment at the national level every year.
In its latest survey conducted in 2021, product sales and export information for 2020 of more than 320 manufacturing and service-providing companies active in the field of nanotechnology, whose products own Nanoscale certification from INIC were collected and verified through a census of nanotechnology companies and completing financial forms designed according to ISO/TS 18110: 2015 definitions. The results obtained from the survey were also completed using market research methods based on the available valid facts.
According to the results, the total market volume of nano-products in Iran in 2020 is estimated at about $553 million, which amounts to $3 billion once the purchasing power parity (PPP) is accounted for. Of this amount, 97.6% belongs to goods, 1.5% to nano-equipment and 0.9% to services. Also, nano-product exports to other countries have a 7.3% share in this market.
The market volume of nano-products in Iran has been growing exponentially from 2013 to 2020, and this is while this figure stood at about $ 24 million in 2013. The country's official inflation rate in 2020 was about 37%, but in the same year, the market for Iran-made nano-products witnessed a 160% growth compared to 2019, despite the international sanctions.
The distribution of Iran's nanotechnology market volume based on the different industries involved is illustrated in the figure below. It is clear that the construction industry has the largest share, at 42%, with the oil, petrochemical and automotive industries being in the next positions.
Read the original article on INIC.