June 17, 2020
According to the research report titled ‘Nanocopper Oxide Market Forecast to 2027 - COVID-19 Impact and Global Analysis by End User, available with Market Study Report LLC, the global nanocopper oxide market was worth USD 75,937.5 thousand in 2018 and is likely to reach USD 251,148.8 thousand by 2027. It is estimated to record a CAGR of 14.4% over 2019-2027.
Nanocopper oxide is a brown, black or red colored nano material available in different forms and utilized to fulfil the needs of diversified users. These nanoparticles possess many physical and chemical properties such as antibiocide and antimicrobial characteristics, along with superconductivity, relative stability, and photovoltaic properties. These nano materials are usually utilized in less quantity to uplift the performance of the final product or end-product and are regarded as a cost-efficient and advanced solution.
Nanoparticles are used in manufacturing microelectronics, gas sensors, semiconductor devices, and equipment, batteries, and other equipment. These nanoparticles are also utilized in industries such as textile, agriculture, biomedical, and others.
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In terms of end-user, the market is bifurcated into energy storage, catalysts, paints and coatings, electrical and electronics, and others. The paints and coatings segment is likely to show robust growth over the analysis period.
The electrical and electronics end-use segment is projected to record substantial growth over the forecast period driven by optical, catalytic, electrical, and mechanical features. In addition to these qualities, nanoparticles are photoconductive and photovoltaic which boosts segmental share. Increasing demand for advanced technology and industrialization is likely to have a trivial impact on the demand of nano copper oxide.
Given the COVID-19 pandemic, countries like Germany, France, Republic of Korea, Spain, Iran, U.S, Italy, and China are the most affected out of all with respect to number of cases and deaths, as of March 2020. The widespread outbreak of this pandemic has led to disruptions in the global chemical and materials sector which is projected to influence market size in approaching years.
From the regional point of view, the market is bifurcated into Middle East and Africa (MEA), South America, Asia Pacific (APAC), Europe, and North America. North America held the biggest share of global nano copper oxide market, followed by APAC, in 2018. In North America, investments are made in the field of research and development to develop improved products.
The leading organizations in the global nano copper oxide market are US Research Nanomaterials, Strem Chemicals Incorporation, SkySpring Nanomaterials Incorporation, PlasmaChem GmbH, Nanostructured & Amorphous Materials Incorporation, Nanoshel LLC, nanoComposix, Inframat Corporation, and Hongwu International Group Limited among others.