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5 Stocks to Tap the Nanotechnology Market Boom

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Nanotechnology has revolutionized multiple fields, starting from computers to healthcare and even military. Technology innovation is being conducted at nanoscale and it offers myriad opportunities for growth across several domains.

Nanotechnologyranges between one to 100 nanometersand has the potential to pave the way toward next-generation supercomputers. In fact, its reach spreads beyond chips and computers. Nanotechnology holds the potential to manipulate individual atoms, which can help the healthcare industry not only research diseases but also eliminate it completely.

Nanotech Breaking Conventional Barriers

Nanotechnology has become a prime driver of changes in the medical field. Its application in drug delivery and tissue engineering has created an entirely new therapeutic entity. Per research, nanotechnology can offertissue-engineering products that have the ability to perform as a substrate to support cellular activity andoptimize tissue regeneration.

Nanotechnology giants like Thermo Fisher Scientific are also trying to enhance MRI contrast agents and useDNA origami to build nanostructures that can deliver therapeutics to specific locations in the human body.

Nanotechnology-enabled medical products are being used for more than a decade now. In fact, they have made an impact in the treatment of cancer, CNS diseases, cardiovascular disease and infection control. Per the Wiseguyreports.Com, the global nanomedical market was valued at $134.4 billion in 2016 and is projected to see a CAGR of 14% from 2017 through 2022 and should reach $293.1 billion by 2022.

On Jun 24, the U.S. National Nanotechnology Initiative (NNI) reported advancement in development and commercialization of self-powered, battery-free wearable sensors. This biofuel-powered electronic skin can monitor key physiological parameters during prolonged physical activities and wirelessly transmit data to the user interface. Additionally, NNI states that the information collected using the platform could be used to design and optimize next-generation prosthetics.

Nanotech has also found application in daily lives. Silver nanoparticles arebeing used to keep odor-causing bacteria at bayin garments. Similarly, nano titanium dioxide is used in sunscreens to block UV (ultraviolet) rays from damaging skin.

Meanwhile, PPG Industries, Inc. (PPG - Free Report) and BASF have come together to develop several coatings that incorporate nanomaterials. While ceramic nanoparticles-infused paints can protect cars against minor scratches, nanopolymer coatings applied over car paint can reflect heat to regulate temperature and make air conditioners more fuel-efficient.

Nanotechnology has also found application in agriculture to boost crop productivity. Engineers atIndian Institute of Technology, Kanpur, India, have synthetically engineered nanoparticles comprising iron and sulfur. This nano fertilizer can restore the sustainability of soil and boost seed and root metabolism and increase production of grains, legumes, and vegetable crops.

5 Stocks to Watch

Per a Research and Markets report, the global nanotechnology market could exceed $125 billion by 2024. The market is projected to see a CAGR of 13.8% by 2025. It holds strong potential in the United States and will maintain a 14.7% growth momentum.

Given the current scenario, researchers are focusing on nanotechnology as it may offer valuable solutions for COVID-19. Many researchers believe that nanoparticles can help eliminate the virus inside the human body by confining, immobilizing and preventing it from attacking cells.

Hence, we have shortlisted five stocks that are poised to grow with the advancement of nanotechnology.

Taiwan Semiconductor Manufacturing Company Limited (TSM - Free Report) engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices. The company belongs to the Zacks Semiconductor - Circuit Foundry industryand has an expected earnings growth rate of 30.3% for the current year.

Taiwan Semiconductor Manufacturing Company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

PPG Industries manufactures and distributes paints, coatings and specialty materials. The company belongs to the Zacks Chemical - Diversified industryand has an expected earnings growth rate of 36.7% for the next year. PPG Industries carries a Zacks Rank #3 (Hold).

Onto Innovation Inc. (ONTO - Free Report) designs, develops, manufactures and supports process control tools. These can perform macro-defect inspection and metrology, lithography systems, and process control analytical software used by semiconductor and advanced packaging device manufacturers. The company belongs to the Zacks Nanotechnology industry and has an expected earnings growth rate of 10.8% for the current year. Onto Innovation carries a Zacks Rank #3.

Intel Corporation (INTC - Free Report) designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices.The company recently launched a 10-nanometer manufacturing technology that will increase the number of transistors per chip by a factor of 2.7 compared to current nanotechnologies.

The company belongs to the Zacks Semiconductor - General industry and has an expected earnings growth rate of 3.8% for the current quarter. Intelcarries a Zacks Rank #3.

Thermo Fisher Scientific Inc. (TMO - Free Report) provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services. The company belongs to the Zacks Medical - Instruments industryand has an expected earnings growth rate of 15.7% for the next year. Thermo Fisher Scientific carries a Zacks Rank #3.

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