In 2018, the global market for nanocopper oxide was valued at approximately US$ 75,937.5 thousand and is anticipated to grow to around US$ 251,148.8 thousand by 2027, reflecting a compound annual growth rate (CAGR) of 14.4% from 2019 to 2027.
Nanocopper oxide is characterized as a red or brown-black nanomaterial that comes in various forms, catering to a wide range of applications. These nanoparticles exhibit numerous chemical and physical properties, including antimicrobial and antibiocide capabilities, photovoltaic characteristics, stability, and superconductivity. Typically utilized in small quantities, nanocopper oxide enhances the performance of end products and is regarded as a cost-effective advanced solution. Consequently, it finds applications in the production of batteries, semiconductor devices, gas sensors, microelectronics, and other technologies. Ongoing research and development efforts have expanded the use of these nanoparticles into fields such as biomedical, agricultural, textile, and other relevant sectors.
The nanocopper oxide market is categorized by end-user applications, including electrical and electronics, paints and coatings, catalysts, energy storage, and others. In 2018, the electrical and electronics sector was the leading segment in the nanocopper oxide market; however, the paints and coatings segment is projected to experience significant growth during the forecast period. The unique catalytic, optical, mechanical, and electrical properties of copper oxide nanoparticles make them particularly suitable for various electronic and electrical applications. Additionally, their photovoltaic and photoconductive attributes have spurred increased demand in these sectors. With rapid industrialization and a growing need for advanced technologies, the demand for nanocopper oxide is expected to escalate.
Impact of COVID-19
The COVID-19 pandemic originated in Wuhan, China, in December 2019 and has since spread rapidly worldwide. By March 2020, countries such as China, Italy, Iran, Spain, South Korea, France, Germany, and the United States were among the most severely affected, with significant numbers of confirmed cases and fatalities. As of May 18, 2020, the World Health Organization reported 4,589,526 confirmed cases and 310,391 deaths globally. The pandemic has disrupted economies and industries across various nations due to lockdowns, travel restrictions, and business closures. The global chemical and materials sector is one of the industries experiencing substantial disruptions, including supply chain interruptions, cancellation of technology events, and office closures due to the pandemic.
Geographically, the nanocopper oxide market is divided into several regions: North America, Europe, Asia-Pacific (APAC), South America (SAM), and the Middle East & Africa (MEA). In 2018, North America held the largest share of the global nanocopper oxide market, followed closely by the Asia-Pacific region. This dominance can be attributed to the increasing adoption of advanced materials and technologies across various end-use industries. North America is recognized as a well-established industrial sector, with significant investments in research and development aimed at creating enhanced products. Furthermore, the region serves as a manufacturing hub for leading players in the nanocopper oxide market. Key manufacturers include American Elements, nanoComposix, SkySpring Nanomaterials Inc., Strem Chemicals, Inc., among others, who are pivotal in driving market growth.
Prominent players in the global nanocopper oxide market include American Elements, Hongwu International Group Ltd, Inframat Corporation, nanoComposix, Nanoshel LLC, Nanostructured & Amorphous Materials, Inc., PlasmaChem GmbH, SkySpring Nanomaterials Inc., Strem Chemicals Inc., and US Research Nanomaterials, Inc.
The overall size of the global nanocopper oxide market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the global nanocopper oxide market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate and analyze the collected data. Participants in this process include industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the nanocopper oxide market.