Nano Copper Oxide Market Expected to Reach $84.81 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Nano Copper Oxide Market," The nano copper oxide market was valued at $39.09 million in 2021, and is estimated to reach $84.81 million by 2031, growing at a CAGR of 8.1% from 2022 to 2031.

Increased popularity of nano copper oxide in electrical & electronics, paints & coatings, semiconductors, coatings, energy storage, catalysts, and other industries has led to a significant increase in demand. Using strategic partnerships and collaborations, all market participants make substantial investments to discover new commercial markets for their product divisions. Increase in demand for electronic devices and antimicrobial coatings, as well as a decline in nano copper oxide pricing, are among the primary drivers driving the demand for nano copper oxide. Nevertheless, humans have experienced negative effects including nausea and vomiting after ingesting copper oxide powder and lung damage after breathing copper oxide fumes. In most instances, these impacts expose the copper ions released by copper oxide to exceptionally high concentrations of this metal, resulting in an increase in copper bioavailability. Copper, on the other hand, is a trace element necessary for the regular functioning of several tissues, including the immune system, neurological system, heart, skin, and capillary development. Copper is accepted and processed extraordinarily effectively by humans. However, this is not the case for all species, since some are more sensitive to copper poisoning. All these factors are anticipated to restrain the market growth throughout the forecast period. The government assists companies and laboratories by giving funding and subsidies. Nano copper oxide is the nanomaterial with the best catalytic, optical, mechanical, and electrical capabilities. Nano copper oxide also possesses photoconductivity and photovoltaic uses due to the tiny bandgap. Applications include semiconductors, batteries, gas sensors, microelectronics, solar energy converters, and heat transfer fluids. All these elements open the way for advanced nano copper oxide R&D, as well as more opportunities to identify new uses for the material.

In 2021, electrical & electronics was the largest end-user segment in terms of revenue with almost half of the share followed by energy storage and others. In electrical & electronics end-user, nano copper oxide is mainly used in conductive coatings. Extraordinary physio-chemical properties of nano copper oxide have increased their demand in wide array of end-user as it results in improved performance of end-products.

The nano copper oxide market is segmented on the end-use industry and region. On the basis of end-use industry, the market is categorized electricals & electronics, energy storage, paints & coatings, catalysts and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

In the paint & coatings business, nano copper oxide is used in ship antifouling paints. It also inhibits the growth of microbes such as fungus and algae, and theoretically, ships may save up to 40 percent of their fuel. The majority of industry employed this biocide for preventative wood treatments. Developments in the construction industry in Japan and South Korea is surges the demand for paints and coatings and hence boosts the growth of the nano copper oxide market.

Copper nanoparticle ink is created using nano copper oxide particles. Its development is a result of the product's increasing use in research and laboratories. There is a rise in demand in electronic sector need for copper oxide nanoparticle ink in Japan and South Korea. This is anticipated to drive the market growth.

Major players operating in the global Nano copper oxide market are American Elements, Hongwu International Group Ltd, Inframat Advanced Materials, LLC, Merck KGaA, Nanjing Emperor Nano materials Co., Ltd, Nanoshel LLC, Nanostructured & Amorphous Materials, Inc, Novacentrix, Iolitec Ionic Liquids Technologies GmbH, PlasmaChem GmbH, Sisco Research Laboratories Pvt. Ltd., SkySpring Nanomaterials Inc, Stream Chemicals, Inc, Suzhou Canfuo Nanotechnology Co., Ltd., and US Research Nanomaterials, Inc.

IMPACT OF COVID-19 ON THE GLOBAL NANO COPPER OXIDE MARKET

• The COVID-19 pandemic had a negative impact on the economics and industries of various nations as a result of several lockdowns, travel restrictions, and company closures.
• The chemicals and materials industry is one of the principal industries facing significant disruptions, including supply chain restrictions and facility shutdowns. The shutdown of several warehouses and factories in worldwide markets disrupted global supply networks and affected the electrical and paint & coating sectors' revenue.
• Nano copper oxide consumption has also been hindered by a drop in demand from end-use industries. Multiple businesses have already warned of potential delays in product deliveries and a decline in future product sales.
• In contrast, the launch of vaccination campaigns has loosened constraints on manufacturing activity.

Key findings of the study

• By end-use industry, the electricals & electronics segment is expected to grow at a CAGR of 8.9%, in terms of revenue, during the forecast period owing to increased demand for electrical & electronics product especially from Asia-Pacific region.
• By region, Asia-Pacific garnered a share of 43.05% in 2021 in terms of revenue and is projected to grow at a CAGR 8.8% owing to increased demand from paints & coatings and electrical & electronics industry.