Nanocopper Oxide Market Forecast to 2027 - COVID-19 Impact and Global Analysis by End User (Electricals and Electronics, Paints and Coatings, Catalysts, Energy Storage, Others); and Geography
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The nanocopper oxide market was valued at US$ 75,937.5 thousand in 2018 and is projected to reach US$ 251,148.8 thousand 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 known to possess several physical and chemical characteristics useful across several end-use industries. Over the years, an increase in spending toward R&D activities related to nanocopper oxide has been initiated by several research institutions, centers, and industries. Further, research on such nanoparticles is gaining momentum, which is attributable to their properties such as toughness along with ductility, better strength, and high electrical conductivity making them ideal for diversified industrial applications..
The Asia Pacific region is expected to be the fastest growing region for the nanocopper oxide market in the forecasted period. The growth of the Asia Pacific region is primarily attributed to the increase in population along with growth in industrial and infrastructural activities. Some of the major economies, in the region, include China, India and others are looked upon as favorable regions for production activities. Hence, to meet out the growing demand for nano copper oxide, many new companies are entering the market. Further, strong growth in semiconductor, building and construction, energy and other sector are set to raise the demand for electrical goof, paints and coating and others. This is expected to have a positive impact upon the growth of the nanocopper oxide market in the Asia Pacific region..
Effect of COVID-19 on Nanocopper Oxide Market
COVID-19 outbreak first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of positive cases and reported deaths. The outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemical and materials industry is one of the major industries that are facing serious disruptions such as factories shutdown, supply chain breaks, events cancellations, and office shutdowns as a result of this outbreak.
Global Nanocopper Oxide Market
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Market Insights
Use of Nanocopper Oxide in Biomedical Applications
Metal oxide nanoparticles are known for their unique structure, redox and catalytic characteristics, high surface area, better mechanical stability, and biocompatibility. Therefore, several metal oxide nanoparticles, including nanocopper oxide, have gained considerable interest in the field of biomedical therapeutics, bio-imaging and biosensing applications. The synthesis of nanoparticles of copper oxide with improved size and desirable characteristics has become 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. Other than this, copper oxide nanoparticles are being efficiently used for targeting in both in vivo and in vitro environments. The future CuO NPs in 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. Also, being antimicrobial agents, these nanoparticles are mainly utilized in hospitals as they possess the ability to kill more than 99.9% of Gram-positive and negative bacteria within 2 hours of exposure. Several studies suggest that the utilization of these nanomaterials can minimize the occurrence of hospital-acquired infections. 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 increased advancement in biomedical industry, the demand for such nanomaterials is expected to rise.
End User-Based Insights
Based on end user, the nanocopper oxide market is segmented into electrical and electronics, paints and coatings, catalysts, energy storage, and others. The paint and coating segment is expected to grow at a higher CAGR during the forecast period. Paint and coatings depict a liquid which is castoff to coat a solid surface in order to seal, protect or colour. For this purpose, pigments such as solid nano particulates plays an imperative role and have been used since millennia. Nowadays, nanomaterials are being used in order to increase the effectiveness and to provide new functionalities to the paints. There are already numerous nano-enhanced paints on the market. Recently, the demand for nanocopper oxide have witnessed a slight increase, with the increasing demand for innovative paints and coating in automotive industry. Currently, the most applicable nanomaterials for the paint and coating industry are silicon dioxide and nanoscale titanium dioxide; however, demand for silver, copper, aluminium oxide, zinc oxide, cerium dioxide, copper oxide, is also expected to increase over the forecast period, which is anticipated to enhance over the forecast period in the paints and coating industry significantly..
Global Nanocopper Oxide Market, by End User– 2018 & 2027
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Strategic Insights
Several strategic initiatives are commonly adopted by companies to expand their footprint worldwide. The players present in the nanocopper oxide market such as American Elements, nanoComposix, and PlasmaChem GmbH are among the market players implementing this strategy to enlarge the customer base and gain significant market share, which also permits the players to maintain their brand name globally.
Report Spotlights
- Progressive industry trends in the global nanocopper oxide market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global nanocopper oxide market from 2017 to 2027
- Estimation of global nanocopper oxide demand across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and global nanocopper oxide demand
- Market trends and outlook coupled with factors driving and restraining the growth of the global nanocopper oxide market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global nanocopper oxide market growth
- Global nanocopper oxide market size at various nodes of market
- Detailed overview and segmentation of the global nanocopper oxide market, as well as its dynamics in the industry
- Global nanocopper oxide market size in various regions with promising growth opportunities
Global Nanocopper Oxide Market – By End User
- Electricals and Electronics
- Paints and Coatings
- Catalysts
- Energy Storage
- Others
Company Profiles
- American Elements
- Hongwu International Group Ltd.
- Inframat Corporation
- nanoComposix
- Nanoshel LLC
- Nanostructured & Amorphous Materials, Inc.
- PlasmaChem GmbH
- SkySpringNanomaterials Inc.
- Strem Chemicals Inc.
- US Research Nanomaterials, Inc.
- Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the global nanocopper oxide market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as key market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Frequently Asked Questions
The major 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; SkySpring Nanomaterials Inc.; Strem Chemicals Inc. and US Research Nanomaterials, Inc; among many others.
In 2018, the nanocopper oxide market was predominant in North America at the global level. This dominance is attributable to rising adoption of advanced material and technology across the various end use industries. North America region is considered to be an established industrial sector wherein strong investment are being made in research and development activities to develop improved products. Further, the region is considered to be manufacturing hub for leading players of nanocopper oxide market. These manufacturers include American Element, nanoComposix, SkySpring Nanomaterials Inc., Strem Chemicals, Inc. and many others who are influencing the growth of the market.
Electrical and electronics segment is the leading segment in the forecast period. The nanoparticles of copper oxide uniquely possess catalytic, optical, mechanical, and electrical characteristic features which make them ideal materials to be used across electronic and electrical applications. Other than this, they also exhibit photovoltaic and photoconductive properties, which have led to an increase in demand across electrical and electronic applications. With the rapid industrialization and increase in demand for advanced technologies, the demand for nanocopper oxide is expected to rise.