The rapidly increasing number of mobile devices, voluminous data, and higher data rate is pushing the development of the fifth-generation (5G) wireless communications. The 5G networks are broadly characterized by three unique features: ubiquitous connectivity, extremely low latency, and very high-speed data transfer via adoption of new technology to equip future millimeter band wireless communication systems at nanoscale and massive multi-input multi-output (MIMO) with extreme base station and device densities, as well as unprecedented numbers of nanoantennas. In this article, these new technologies of 5G are presented so as to figure out the advanced requirements proposed for the nanomaterials applied to antennas in particular. Because of massive MIMO and ultra-densification technology, conventional antennas are unable to serve the new frequency for smaller sizes, and the nanoantennas are used in 5G. The nanomaterials for nanoantennas applied in wideband millimeter waves are introduced. Four types of nanomaterials including graphene, carbon nanotubes, metallic nanomaterials, and metamaterials are illustrated with a focus on their morphology and electromagnetic properties. The challenges for the commercialization of 5G and nanomaterials are also discussed. An atomistic modeling approach is proposed for the development of novel nanomaterials applied in 5G and beyond.