The global metal oxide nanoparticles market is expected to witness strong growth over the forecast period owing to increasing demand from major end-use industries including adhesives & sealants, automotive, energy, electronic & optoelectronics, aerospace, and packaging. Strong growth of these end-use industries is anticipated to trigger the metal oxide nanoparticles market growth over the forecast period. Owing to properties of metal oxide nanoparticles such as electronic, mechanical, optical, and chemical catalytic properties they find vast applications in high-tech industries.
In addition, increasing the application scope of metal oxide nanoparticles in the electronics & optoelectronics industry is expected to accelerate the market growth over the next seven years. Increasing R&D activities to enhance product applications coupled with rapid growth in nanotechnology is anticipated to drive the metal oxide nanoparticles market. Recent innovation supports the applications of metal oxide nanoparticles in pharmaceuticals, cosmetics, and medical & life sciences which are anticipated to boost the market demand over the forecast period.
Based on various metal oxides used, the market is segmented into aluminum, bismuth, cerium, iron, magnesium, silicon, titanium, zinc, zirconium, nickel, antimony tin, copper and manganese, and Indium tin. The zinc oxide nanoparticles market has been witnessing strong growth owing to its increasing application in sunscreen lotions and cosmetics on account of its high UV protection properties. in addition, zinc oxide nanoparticles are used in textiles, electronics, paints, and coatings owing to their anti-bacterial, anti-fungal, anti-corrosion, and catalytic properties.
The magnesium oxide nanoparticles market is expected to witness strong growth over the next seven years on account of increasing demand from furnace linings, construction and ceramics, pharmaceuticals, and food additives. Moreover, the titanium oxide nanoparticles market is anticipated to witness significant growth in light of its rising applications in the medical & pharmaceutical, and cosmetics sectors.
End-use industries in the metal oxide nanoparticles market include electronics & optoelectronics, automotive, adhesives & sealants, aerospace, construction, medical, food & beverages, and packaging. In addition, these particles are employed in the manufacture of sporting goods, agriculture activities, and manufacture of catalysts, sensors, and textiles. Electronics and optoelectronics industries widely use these nanoparticles owing to properties such as electrical, optical, and mechanical.
Metal oxide nanoparticles are anticipated to witness strong growth in the medical sector owing to their increased application as anti-bacterial and anti-fungal agents. Automotives, construction, aerospace, and packaging industries are expected to witness strong growth on account of strong support from emerging countries including India, China, and Brazil. This in turn is anticipated to propel the metal oxide nanoparticles market over the projected period.
North America was the largest market for metal oxide nanoparticles market owing to high venture capital investments in R&D activities to enhance nanoparticle product applications. Huge demand from end-use industries including automotive and pharmaceutical is likely to boost its market in the region. The Asia Pacific and Europe markets are anticipated to witness significant growth over the next seven years on account of increasing demand electronics, automotive, and aerospace sectors.
Key players in the metal oxide nanoparticles market include American Elements, Eprui Nanoparticles & Microspheres Co. Ltd., NanoScale Corporation, Reinste Nanoventures, Altair Nanomaterials, US Research Nanomaterials Inc., Sigma Aldrich, and Access Business Group.
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The shortage in supply of raw materials from Chinese manufacturers has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. However, the producers are expected to move away from China aiming to reduce the future risks that would affect the business and to reduce the manufacturers' cluster in a single country in order to smoothen the supply chain. The report will account for Covid19 as a key market contributor.
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