Nanoparticles can be referred to as a particle that has a size between 1 to 100 nanometer. They find various application across electronics, optics, and medicine industry. They can create an effective bridge between the molecular structures and the bulk materials. Nanoparticles have excellent physical, chemical, and surface properties that enable their application across various industries. Chemical & coatings, automobile, electrical & electronics, pharma & healthcare, marine, aviation, personal care & cosmetics, and defense are some of the major end-user of nanoparticles.
Global metal & metal oxide nanoparticles market is estimated to account for around US$ 22,857.0 million in terms of value in the year 2019 and it predicted to grow at a CAGR of 13.6% during the forecast period (2020-2027).
Increasing demand for magnesium oxide nanoparticles from furnace linings, pharmaceuticals, food additives, and construction &ceramics application is projected to positively impact the market growth. The growing use of titanium oxide nanoparticles in healthcare and the pharmaceutical industry is further expected to foster market growth. Therefore, the aforementioned application of nanoparticles is expected to bolster the market growth of the metal and metal oxide nanoparticles.
The growing use of zinc oxide nanoparticles from the healthcare industry for the development of the anticancer drug, antibacterial, bio sensing products, and cell imaging, gene delivery is expected to offer new avenues to the market. Moreover, the growing disposable income of the populations is increasing their purchasing power which is creating demand for various consumer products is further expected to provide potential opportunities to the market of metal and metal oxide nanoparticles.
The volatile price of zinc and several environmental hazards associated with the zinc as it is insoluble in water is expected to restrict the market growth of the metal and metal oxide nanoparticles. Moreover, excessive inhalation of zinc may metal fume fever which is further expected to restrict the market growth of the metal and metal oxide nanoparticles.
On the basis of region, Asia Pacific region dominated the global metal & metal oxide nanoparticles market in 2019 with a 29.7% of market share in terms of value, followed by Europe and North America respectively.
On the basis of application, personal care & cosmetics segment dominated the global metal & metal oxide nanoparticles market in 2019 with 36.6 % of market share in terms of value, followed by chemical & coating and pharma & healthcare respectively.
Increasing demand for metal oxide nanoparticles from Asia pacific region is a major trend in the market due to the growth of the manufacturing industries. Growth in research &development activities supports favorable government regulations for developing advanced metal oxide nanoparticles with improved properties is expected to augment the market growth. Moreover, the growing demand for metal oxide nanoparticles from adhesive &sealants, plastic, and glass is also expected to accelerate the market growth of the metal and metal oxide nanoparticles.
Metal & Metal Oxide Nanoparticles Market - Impact of Coronavirus (Covid-19) Pandemic
The coronavirus pandemic has affected one of the most important sectors of the global economy –Chemicals Industry which contributes around 7.0 % to the global GDP and provides employment to around 120 million people (including directly and indirectly). The production of chemicals has declined across the globe, due to lower demand from the end-use industries such as coatings, agriculture, consumer durables, electronics, healthcare, food processing, construction, and automobile. This is expected to reduce demand for metal & metal oxide nanoparticles from the chemical industry. According to Coherent Market Insights, metal & metal oxide nanoparticles is expected to grow at a lower CAGR due to reduced demand from chemical industry.
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