LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global metal oxide nanoparticles market to grow at a CAGR of almost 10% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global metal oxide nanoparticles market for 2017-2021. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers.
The global metal oxide nanoparticles market is expected to grow at a rapid rate owing to the increase in demand from various applications, which includes manufacturing, electronics, and optics. Nanoparticles provide high volume-to-surface area ratio and therefore increase the reactivity of the metal. The demand for metal oxide nanoparticles is concentrated mainly in North America. However, APAC is the fastest-growing market.
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Technavio chemicals and materials analysts highlight the following three factors that are contributing to the growth of the global metal oxide nanoparticles market:
Miniaturization of devices
Increasing R&D activities and innovations in technology have created the demand for reliable and compact electronic devices. The need for reducing material costs and growth in the demand for smaller assemblies in specific applications has led to the miniaturization of electronic devices. The miniaturization of devices is crucial in the electronics and optics industry.
Ajay Adhikary, a lead metals and minerals research analyst at Technavio, says, “The trend of miniaturization is also observed in the medical and consumer electronics sectors due to the minimization of space required and the need for reducing the weight of the devices. Furthermore, the popularity of compact, portable, and lightweight electronic devices that are cost-effective is growing.”
Growing demand in APAC
In recent years, there has been rapid growth in the nanotechnology market in APAC owing to significant industrial and economic developments in the region, especially in India and China. In addition, the robust growth in the personal care products and pharmaceutical sectors in these countries has increased the demand for metal oxide nanoparticles.
“Metal oxide nanoparticles are also used in Japan producing pollutant-degrading traffic pavement and as a pigment in the country’s highly developed paint and coatings industry. The market growth in the region is further fueled by the strong financial and regulatory support of governments for the development of new applications of nanomaterials,” adds Ajay.
Increasing acceptance of UVA/B filters in sunscreens and sun protection cosmetics
Zinc oxide and titanium dioxide are the two types of physical sunblock that are the most used. Both zinc oxide and titanium dioxide offer broad-spectrum UVA and UVB protection. They are used every day by individuals with sensitive skin and children as they rarely cause skin irritation.
It has been found that people who use sunscreen daily have 24% less skin aging. Traditionally, sun care product manufacturers used titanium-based microparticles to increase the consistency and viscosity of their products. However, as these products were difficult to apply, not user-friendly, and prone to cause irritation on the skin, manufacturers have shifted to titanium dioxide nanomaterials.
Top vendors:
- American Elements
- EPRUI Nanoparticles & Microspheres
- Reinste
- Sigma-Aldrich
- US Research Nanomaterials
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