Nanocopper Oxide Market Growth and Analysis by 2027

[Research Report] The nanocopper oxide market was valued at US$ 75.9 million in 2018 and is projected to reach US$ 251.1 million by 2027; it is expected to grow at a CAGR of 14.4% from 2019 to 2027.

Nanocopper oxide is a reddish or brownish-black nanoparticle used as catalyst in chemical industry. Various properties such as toughness along with ductility, better strength, and high electrical conductivity which make them ideal for diversified industrial applications. Further, research on such nanoparticles is gaining momentum. Therefore, rising R&D activities in the past few years by several research institutions, centers, and industries are driving the growth of the market.

Asia Pacific is expected to be the fastest-growing region for the nanocopper oxide market during the forecast period. The tremendous growth in industrial and infrastructural activities is the major reason behind the nanocopper oxide market growth in Asia Pacific. A few of the major economies in the region, such as China and India, are favorable for production activities. Hence, to meet the growing demand, many new companies are entering the regional market. Further, strong growth in numerous sectors such as semiconductor, building and construction, and energy would raise the demand for electrical goof and painting and coating in the coming years. This is expected to have a positive impact on the growth of the nanocopper oxide market in Asia Pacific during the forecast period.

Nanocopper Oxide Market: Strategic Insights

Impact of COVID-19 Pandemic on Nanocopper Oxide Market

The COVID-19 outbreak adversely affected economies and industries in various countries due to lockdowns, travel restrictions, and business shutdowns. The chemicals & materials industry is among the significant industries suffering from severe disruptions, such as restrictions on the supply chain and the shutdown of production plants. The shutdown of different plants and factories in various countries disrupted the global supply chains and negatively impacted the sales of electrical and paints and coating industries. The consumption of nanocopper oxide was also hampered due to declining demand from end-use industries. Various companies have already announced possible delays in product deliveries and slump in future products sales. However, there is ease in the restrictions and manufacturing activities with the introduction of vaccination drives. 

Market Insights

Upsurge in Consumption of Nanocopper Oxide in Biomedical Applications

Metal oxide nanoparticles consist of unique structure, redox, and catalytic characteristics, high surface area, better mechanical stability, and biocompatibility. Therefore, several metal oxide nanoparticles have gained considerable interest in biomedical therapeutics, bio-imaging, and biosensing applications. The synthesis of nanoparticles of copper oxide with improved size and desirable characteristics has become the foremost thrust area for the biomedical industry. In the biomedical domain, “sensing” constitutes to be a major application area of nanomaterials pertaining to their nano size and extraordinary physicochemical features. Although, with the advancement in technology, a paradigm shift has been made toward “theranostic” mix of sensing and therapeutic characteristics on a single platform. Apart from this, copper oxide nanoparticles are efficiently used for targeting in vivo and in vitro environments. In future, CuO NPs for biomedical applications may involve identification and detection of disease or viruses in the human body. For instance, several studies represent that CuO NPs can be used for the detection of H1N1 flu virus. Further, one of the most interesting innovations in the medical industry is the use of bed sheets containing CuO NPs as they reduce the chances of microbial infections within hospitals. Also, the use of CuO NPs in pillowcases and beddings has been associated with an improved aspect of the facial and foot skin. Therefore, with the rise in investment in R&D activities, along with increase in advancements in the biomedical industry, the demand for nanocopper oxide is expected to rise in the coming years.

End User-Based Insights

By end user, the nanocopper oxide market is segmented into electrical and electronics, paints and coatings, catalysts, energy storage, and others. The electrical and electronics segment holds the largest market share. The paint and coating segment is expected to register the highest CAGR during the forecast period. The nano coatings are used in paints and coatings to seal, protect, or color the solid surface. For this purpose, pigments such as solid nano particulates play an imperative role and have been used since millennia. Nowadays, nanomaterials are being used to increase the effectiveness and provide new functionalities to paints. There are already numerous nano-enhanced paints in the market. Recently, the demand for nanocopper oxide has witnessed a slight increase, with the increasing demand for innovative paints and coating in the automotive industry. Therefore, the growing automotive industry drives the paints and coatings market, which, in turn, propels the growth of the nanocopper oxide market.

Key players operating in the global nanocopper oxide market are American Elements; Hongwu International Group Ltd.; Inframat Corporation; nanoComposix; Nanoshel LLC; Nanostructured & Amorphous Materials, Inc.; PlasmaChem GmbH; SkySpringNanomaterials Inc.; Strem Chemicals Inc.; and US Research Nanomaterials, Inc. Major players in the market focus on strategies such as mergers and acquisitions and product launches to increase the geographical presence and consumer base globally.

The regional trends and factors influencing the Nanocopper Oxide Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Nanocopper Oxide Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Nanocopper Oxide Market Report Scope

Nanocopper Oxide Market Players Density: Understanding Its Impact on Business Dynamics

The Nanocopper Oxide Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights

• Progressive industry trends in the nanocopper oxide market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the market from 2017 to 2027
• Estimation of global demand for nanocopper oxide market
• Porters analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the market
• Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The market size of the nanocopper oxide at various nodes
• Detailed overview and segmentation of the market, as well as the industry dynamics
• Size of the market in various regions with promising growth opportunities