Metal Oxide Nanoparticles Market is projected to reach $1.8 billion by 2030, growing at a CAGR of 7.3% from 2021 to 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, " Metal Oxide Nanoparticles Market by Type, End Use Industry, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the global metal oxide nanoparticles market was valued at $0.9 billion in 2020, and is projected to reach $1.8 billion by 2030, growing at a CAGR of 7.3% from 2021 to 2030”

Nanotechnology based on metal oxide is poised to gain high traction in the coming future, as new applications of MONPs are emerging. Currently, MONPs are used in the electronics, automotive, healthcare, construction, and personal care industries. Although there are number of metal oxide in nano sizes, only some of them are majorly used. Although bulk forms of titanium dioxide, aluminum oxide, and iron oxide have been used for many years, the use of nanoparticles of these metal oxides have led to spike in demand for MONPs. The demand for MONPs is currently more from electronics, healthcare, construction, and personal care segments. Gas sensors based on MONPs provide high sensitivity and easy detection of gaseous contaminates at low cost. Other than sensors, MONPs in electronics and optoelectronics include use in integrated circuits, batteries, solar cells, and antennas. In addition, biomedical applications of MONPs are projected to offer new growth opportunities for the market in the long term. Currently, nanoparticles based on iron oxide are used in cancer therapy. However, MONPs have the potential to negatively impact both human health and the environment, which hinders the growth of the global metal oxide nanoparticles market. Various studies have shown that MONPs possess physical and chemical properties that can cause cell damage through excessive generation of reactive oxygen species (ROS) with subsequent damage to DNA, proteins and lipids. To counter this restraint, the prospect of developing MONPs through green synthesis seems attractive. Green synthesis of metal nanoparticles has attracted wide attention due to its feasibility and very low environmental impact. In green synthesis, MONPs are extracted from fungi, algae, bacteria, and plants (usually terrestrial) in which a variety of metabolites act as reducing agents in NPs synthesis. 

The global metal oxide nanoparticles market is segmented into type, end use industry, and region. Depending on type, the global metal oxide nanoparticles market is fragmented into aluminum oxide, titanium dioxide, copper oxide, magnesium oxide, zinc oxide, and others. The titanium dioxide segment garnered the largest share in 2020, owing to greater use in electronics and biomedical applications. On the basis of end-use industry, the global metal oxide nanoparticles market is segregated into optics & electronics, healthcare, automotive, construction, ceramic & glass, personal care, paints & coatings, and others. The optics & electronics segment exhibited the highest growth in 2020, owing to the use of MONPs for manufacturing batteries, sensors, antennas, integrated circuits, and optics. Region wise, the global metal oxide nanoparticles market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest market share in 2020, owing to the presence of well-established electronics and healthcare markets.

The key players engaged in the development and synthesis of MONPs include EPRUI Biotech Co. Ltd., Hongwu International Group Ltd., Intelligent Materials Pvt. Ltd. (Nanoshel), Meliorum Technologies Inc., Merck KGaA, Nanophase Technologies Corporation, NanoResearch Elements Inc., SkySpring Nanomaterials Inc., Star Grace Mining Co. Ltd., and TCT Nanotech. Most of these players offer a wide range of metal oxides and products are differentiated on the basis of their purities.

Key findings of the study

• Asia-Pacific accounted for the largest market share in the metal oxide nanoparticles market, and is projected to grow at a CAGR of 8.0%. Countries such as China, India, Korea, and Japan are key end users of MONPs
• Depending on the type, the titanium dioxide segment accounted for the largest market share in 2020, owing to its wide range of applications such as cosmetics, electronics, construction, and healthcare
• By end-use industry, optics & electronics segment accounted for the largest revenue share in 2020, and is expected to grow at the CAGR of 7.7%. The segment includes the use of MONPs for various sensors, integrated circuits, and solar cells

Impact Of Covid-19 On The Global Metal Oxide Nanoparticles Market

• The COVID-19 pandemic has negatively affected the global economy, thereby changing consumer spending patterns globally.
• This directly affected sales of cosmetic products and cosmetic ingredients such as TiO2 and ZnO.
• In addition, there was a shortage in raw material supply as major countries such as China and Germany had to cease its manufacturing setups to focus on controlling the pandemic. The major end users of MONPs such as electronics, semiconductor, automotive, glass, and cosmetics faced such issues.
• However, the healthcare sector and the biomedical sector associated with it gained significant attention post the pandemic as vaccine development and drug therapies took prime importance.