A particle with a size between 1 and 100 nanometers is referred to as a nanoparticle. They have numerous applications in the fields of optics, electronics, and medicine. They are able to successfully build a connection between molecular structures and bulk materials. Excellent physical, chemical, and surface properties of nanoparticles make them suitable for use in a variety of industries. Nanoparticles are used extensively in a variety of industries, including chemical & coatings, automotive, electrical & electronics, pharmaceutical & healthcare, marine, aviation, personal care & cosmetics, and defense.
Global Metal And Metal Oxide Nanoparticles Market is estimated to account for around US$ 31.81 Billion in terms of value in the year 2022 and it is predicted to grow at a CAGR of 12.5% during the forecast period (2023-2030).
Drivers:
Increasing demand for magnesium oxide nanoparticles from furnace linings, pharmaceuticals, food additives, and construction &ceramics applications 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. For instance, according to the Japan Electronics and Information Technology Industries Association (JEITA), the worldwide electronics and IT industry's output value is expected to increase by 7% year on year in 2021, reaching US$ 3,175.6 billion. As demand for the electronics sector grows, this is one of the key factors driving the metal and metal oxide nanoparticles market. Therefore, the aforementioned application of nanoparticles is expected to bolster the market growth of metal and metal oxide nanoparticles.
Market Opportunities
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 population 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.
Market Restraints
The volatile price of zinc and several environmental hazards associated with zinc as it is insoluble in water is expected to restrict the market growth of the metal and metal oxide nanoparticles. Furthermore, inhaling too much zinc may cause metal fume fever, which is also anticipated to limit the market growth for metal and metal oxide nanoparticles.
Key Takeaways:
With a 29.7% market share in terms of value, the Asia Pacific region dominated the global market for metal and metal oxide nanoparticles in 2023, followed by Europe and North America.On the basis of application, personal care & cosmetics segment dominated the global metal & metal oxide nanoparticles market in 2023 with 36.6 % of the market share in terms of value, followed by chemical & coating and pharma & healthcare respectively.
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Market Trends
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.
Impact of Coronavirus (Covid-19) Pandemic
The coronavirus pandemic has affected one of the most important sectors of the global economy, the 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 the 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 the chemical industry.
Competitive Section:
- American Elements
- S. Research & Nanomaterials Inc
- Nanoshel LLC
- Meliorum Technologies Ltd
- Nanostructured & Amorphous Materials, Inc
- Nanophase Technologies Corporation
- Showa Denko K.K.
- NanoComposix Inc.
- Tekna Systèmes Plasma Inc.
- Sigma-Aldrich Co. LLC
