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Nano Metal Oxide Market size is forecast to reach $8.3 billion by 2026, after growing at a CAGR of 9.3% during 2021-2026. Nano Metal oxides are used in the fabrication of various microelectronics circuits such as sensors, piezoelectric devices, fuel cells among others. So, with rise in demand for electronics products such as optoelectronics, semiconductors, transmitters and others, the nano metal oxide industry is witnessing an increase in demand.The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world were in completely lockdown due to the pandemic. The semiconductor supply and demand were hindered as, semiconductor revenue has declined by 0.9% in 2020, according to Gartner, Inc. This is a decline of 12.5% as compared with the previous quarter. .
Nano Metal Oxide Market Segment Analysis – By Type
Aluminium oxide segment held the largest share in the nano metal oxide market in the year 2020 and is expected to grow at a CAGR of 6.8% during the forecast period. Aluminium oxide nanoparticles have unique abrasion resistance and properties for use in optical lenses, windows, flooring and other surfaces and coatings prone to scratching.
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Nano Metal Oxide Market Segment Analysis – By Application
Electrical & Electronics sector has been the primary market for nano metal oxide in the year 2020 and is expected to grow at a CAGR of 9.5% during the forecast period. Metal oxide nanoparticles are majorly used in electrical & electronics for the fabrication of microelectronic circuits, sensors, piezoelectric devices, fuel cells, coatings for the passivation of surfaces against corrosion, and as catalysts. So, with the rise in electronics industry, the demand for various electronics devices will also increase.
Nano Metal Oxide Market Segment Analysis – By Geography
APAC has dominated the nano metal oxide market in the year 2020 and is expected to grow at a CAGR of 8.7% during the forecast period. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing.
Nano Metal Oxide Market Drivers
Increasing demand for Silica
Colloidal silica nanoparticles are amorphous materials and are generally spherical in shape. Nanoparticles silica are used in paints and coatings to improve the degree of finish, increase the scrub and stain resistance, cut short the time of drying, and provide protection from UV rays. They are also used in plastics and can significantly improve the toughness, strength, wear and ageing resistance of plastics. Hence owing to its better performance, the increasing demand for silica in paint industry is expected to drive the market growth for nano metal oxide market.
Growing Cosmetic Industry
Nanotechnology is used in cosmetic industry to keep skin more youthful and provide protection from harmful sunlight. The applications of nanomaterials found in cosmetic products include moisturizers, hair care, makeup, sunscreen and others. Titanium oxide and zinc oxide are the main compounds used in these applications. According to the IndustryARC Experts Insights, U.S cosmetic industry is estimated of almost 42 billion USD. So, the growing cosmetic industry around the world is expected to drive the demand for nano metal oxide market.
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Nano Metal Oxide Market Challenges
Government regulation on use of titanium dioxide
Titanium dioxide is the most widely used white pigment in products such as paints, coatings, plastics, paper, inks, fibres, food and cosmetics because of its brightness and high refractive index (>2.4) properties. Whereas according to the food and agriculture organization. US regulations authorize its use as a color additive in foods in general at levels not to exceeds 1%.
Market Landscape
Major players in the Nano Metal Oxide Market are Abc Nanotech Co , Ltd, American Element, Baikowski Sa, Eprui Nanoparticles Microsphere Co , Ltd, Goodfellow Group, Hongwu International Group Ltd, Nanoe, Nanophase Technology Corporation, Nanoshel Llc, Nanostructured Amorphous Materials, Inc, Nissan Chemical Industries, Ltd, among others.
Acquisitions/Technology Launches
In September 2020, Showa Denko had decided that its consolidated subsidiary Showa Denko Carbon Holding GmbH (SDCH) will merge with its consolidated subsidiary Showa Denko Europe GmbH (SDE), and that the surviving company SDCH will change its company name into Showa Denko Europe GmbH (new SDE) effective as of January 1, 2021.
In August 2019, Baikowski SA has acquired manufacturing company Mathym SAS. Mathym SAS is a nanotechnology company that specializes in the development, manufacture, and commercialization of nanodispersions.
Key Takeaways
Asia-Pacific dominates the nano metal oxide market owing to increasing demand from applications such as automotive and aviation industries.
The growing use of titanium dioxide for sun protection lotions, wood preservatives, and textile fibers, is likely to aid in the market growth of nano metal oxide.
The increasing demand for nano silica in paints and coatings industry will increase the market demand for nano metal oxide in the near future.
Governments regulations regarding use of titanium dioxide will create hurdles for the nano metal oxide market.
Related Reports :
A. Metal And Metal Oxide Nanoparticles Market
https://www.industryarc.com/Research/Metal-And-Metal-Oxide-Nanoparticles-Market-Research-504307
B. Magnesium Oxide Nanopowder Market
https://www.industryarc.com/Research/Magnesium-Oxide-Nanopowder-Market-Research-503067
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