Nano Zinc Oxide Market size to exceed $800mn by 2026
Published Date: October 30, 2019 Authors: Kiran Pulidindi, Hemant Pandey
Nano Zinc Oxide Market size is set to surpass USD 800 million by 2026; according to a new research report by Global Market Insights, Inc. The global market is anticipated to grow at a CAGR of over 13% from 2019 to 2026.
Nanomaterials are employed across multiple industries owing to their superior mechanical, optical, magnetic, electronic and catalytic properties. Nano zinc oxides (ZnO) are specialty nanomaterials available in the form of dispersions or powder. Nano ZnO exhibits high surface to volume ratio and quantum size effect. Combination of zinc oxide nanostructures with nanocellulose and graphene for the reduced shape, structure and size will significantly propel nano zinc oxide market demand in electronics application.
Rising popularity for metal oxides in biomedical science
Rising product developments in nanomaterials are providing a positive outlook for metal oxide nanoparticles in the biomedical fields. Increasing application of product in anticancer drug, antibacterial & antimicrobial, gene delivery, cell imaging and biosensing medicines will create lucrative opportunities for market players. Ease of incorporation, stable structures, low health impacts are few factors that will contribute to metal oxide popularity in biomedical science.
Zinc oxide nanoparticles provide high biocompatibility and low toxicity, thus attracting manufacturers to enhance their usage for increased product reliability and durability. Increasing inclination of industry players for the use of zinc oxide nanoparticles for biological application is influencing product share in the forecast timeframe.
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Proliferating cosmetics industry shall propel zinc oxides nanoparticle demand
Nanoparticle zinc oxides are utilized in sunscreens for providing better UVA protection. Ongoing improvisations in regulatory requirements for advanced formulations will positively influence the safety and effectiveness of sunscreens. Moreover, introduction of new products complying with recent standards will escalate nano zinc oxide market over the forecast timeframe. Shifting consumer inclination towards utilizing safe and reliable cosmetic products is likely to propel the industry size over the forecast timeframe.
In April 2016, as per Annex VI of the EU Cosmetics Regulation, European union allowed the use of zinc oxide around 25% in the cosmetic manufacturing. Emerging government regulations will support the use of nano materials. However, potential environmental risk factors associated with product shall hinder the market demand in the years to come. Additionally, Nano titanium dioxide will pose a threat to the nano zinc oxide market share owing to the high availability of the material across the globe.
Browse key industry insights spread across 226 pages with 365 market data tables & 18 figures & charts from the report, “Nano Zinc Oxide Market Size By Product (Coated Nano ZnO, Un-coated Nano ZnO), By Application (Personal Care & Cosmetics, Paints & Coatings, Textiles, Electronics), Industry Analysis Report, Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Coated segment shall have considerable growth rate
Nano zinc oxide market is broadly segmented into coated and un-coated variants. In past few years, un-coated nano zinc oxide held a major share in the market. However, the coated variants of nano zinc oxide grained traction on account of enhanced functionality that it rendered to the final product, including high UV protection. Additionally, the product performed reasonably over the mentioned period. These trends governed the increased produce over the specified time period.
Sunscreen will likely to remain largest application
Nano zinc oxide is used in broad range of applications across multiple domains. Preparation of sunscreen holds the largest proportion in terms of consumption of nano zinc oxide. They are observed to provide greater UV protection function as compared to other minerals used in sunscreen and personal care products. Hence, on account of these properties, product demand was observed to increase over the mentioned period.
Asia Pacific and Latin America shall become key nano zinc oxide markets
Asia Pacific and Latin America is witnessing strong growth prospects owing to improving economic condition, increased disposable income and subsequent surge in consumption of personal care and cosmetics products. Emerging new economic power houses such as India, China and Brazil along with growing population in these two regions shall have positive impact on overall market product market demand.
Industry players enhancing their distribution capacity
Companies are taking extra efforts to enhance distribution capacity in order to penetrate into new markets and expand market share. For instance, in January 2018, Biesterfeld Spezialchemie a manufacturer of chemical additives and products announced its agreement with Grillo to distribute its zinc oxide products in Poland, Spain, Italy, UK, and France. This partnership will enable company to expand its distribution operations in Europe catering to growing market. Key players engaged in nano zinc oxide market share are BASF, Strem Chemicals Inc, NYACOL Nano Technologies Inc., Showa Denko, Sakai Chemical Industry, Meliorum Technologies Inc., Inframat Advanced Materials, and SkySpring Nanomaterials Inc.