Report : North America Nanocopper Oxide Market Forecast to 2027 - Covid-19 Impact and Regional Analysis by End User (Electricals and Electronics, Paints and Coatings, Catalysts, Energy Storage, Others); and Country
Increasing Demand for Electronic Equipmentto Escalate Nanocopper OxideMarket Growth at CAGR of 14.4% during 2019–2027
According to our latest market study on “North AmericaNanocopper Oxide Market to 2027 – COVID-19 Impact and Analysis – By End User (Electricals and Electronics, Paints and Coatings, Catalysts, Energy Storage, Others); and Country,”the market was valued at US$ 26,527.3 thousand in 2018 and is projected to reach US$ 85,892.9 thousand by 2027; it is expected to grow at a CAGR of 14.1% from 2019 to 2027.The report highlightskey factors driving the market growth, and prominent players and their developmentsin the market.
Nanocopper oxide is a red or brown to black nanomaterial available in various forms and is used to meet the needs of the diversified user base. These nanoparticles possess several chemical and physical attributes including antimicrobial and antibiocide properties, photovoltaic properties, relatively stability, and superconductivity. They are generally used in small quantities to boost the performance of the endproduct; they are also considered to be cost-efficient advanced solutions. The nanonparticles are, therefore, used to manufacture batteries, semiconductor devices and equipment, gas sensors, microelectronics, and other equipment. Extensive research and development activities in the field of nanotechnology have paved the way for the application of these nanoparticles in biomedical, agricultural, textile, and other relevant industries.
There has been an exponential increase in the demand for electronic equipment for various purposes. This is mainly ascribed to technological advancements,along with rise in investment in R&D to come up with new and improvised devices. The rise in population with increased disposable income has led to the surge in the demand for electrical and electronic components. The growth of the electrical industry is further backed by the advancementsin nanotechnology, followed by increased adoption of the same, which has reshaped the scope of modern science and technology. In recent years, the nanostructures of metal oxides such as copper oxide have gained significant momentum. Nanocopper oxides are manufactured for specific applications and exhibit superior quality over copper oxide, with absolutely different physical properties. Copper oxide nanoparticles (CuO NPs) are being increasingly deployed in the production of several electrical and electronic equipment as they lower productioncosts as well as impart properties such as thermal stability, suitable photovoltaic properties, stability, and superconductivity. These materials exhibit superior electrical, mechanical, catalytic, and optical properties, which make them ideal to be used in the production of smartphones, laptops, and tablets, among otherelectronic devices. The CuO NPs possess strong superconductive features, making them suitable to be used in many different consumer electronics such as gas sensors, batteries, and solar cells. They are widely being deployed in heat transfer fluids, microelectronics, and other electronic devices. Other than this, they are used to produce nanocopper oxides that are mainly used in conductive coatings in electrical and electronic applications. Further, the exceptional physiochemical properties of nanocopper oxide have encouraged their use in the electrical industry.
The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals and materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. China is the hub of manufacturing and the largest raw material supplier for various industries worldwide, and disturbed operations in the country are affecting several businesses from all other countries dependent on its manufacturing sector.The overall market breakdown due to COVID-19 is also affecting the growth of the nanocopper oxide market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
The North Americananocopper oxidemarketis concentrated with several well-established players; these companies includeNanocopper oxidesuch asAmerican Elements; Inframat Corporation; nanoComposix; Nanoshel LLC; Nanostructured & Amorphous Materials, Inc.; PlasmaChem GmbH, SkySpringNanomaterials Inc.; Strem Chemicals Inc. and US Research Nanomaterials, Inc.
The report includes the segmentation of the North Americananocopper oxidemarket as follows:
Nanocopper Oxide Market, By EndUser
Nanocopper Oxide Market, By Country
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