November 30, 2020
According to a recent study titled ‘Colloidal Selenium Nanoparticles Market Size By Grain Structure, By Purity, By Application, Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report LLC, worldwide colloidal selenium nanoparticles market is expected to record an appreciable growth rate during 2019-2026, subsequently accumulating USD 475 million by the end of the forecast period.
Rising R&D activities in solar cell and semiconductor industries, growing investments in medical sector for treating and preventing cancer, favorable federal regulations, increasing awareness about the safety risks of nanotechnology are the major factors fueling global selenium nanoparticles market growth. However, high costs of these nanoparticles may restrain the industry expansion in the upcoming years, cites the study.
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Based on grain structure, global colloidal selenium nanoparticles industry from spherical segment is expected to grow significantly and reach a valuation of USD 350 million by 2026. The growth is attributable to better colloidal stability and enhanced superior settling efficiency of these products in comparison to rod structured ones.
In terms of purity, 2N segment is expected to witness a sizeable growth over the forecast timeframe, attributable to its affordability quotient. Meanwhile, 3N segment is projected to generate USD 245 million in revenues by the year 2026.
Considering the application scope, global colloidal selenium nanoparticles market is projected to register 30% CAGR over the projected timeline. Increasing use of colloidal SeNP as a drug delivery agent and its adoption in cancer treatment worldwide is fostering the segment growth.
On the geographical front, colloidal selenium nanoparticles industry in North America will continue to showcase strong growth trends in the upcoming years with U.S. leading the way. According to trusted estimates, the regional market is set to secure a revenue share of USD 100 million by 2026, creditable to rising healthcare expenditure and increasing R&D in nanotechnology. Whereas, APAC market is touted to expand at a robust pace, largely driven by the growth in electronics and semiconductor industries.
Key players influencing the global colloidal selenium market trends are Nanocs, Inc., American Elements, Nano Research Elements, Nanoshel, LLC, and Land & Green Technology Co., Ltd.