Portland, OR -- (SBWire) -- 07/03/2018 --Nano Copper Oxide Market Report, published by Allied Market Research, was valued at $24,660 thousand in 2015 and forecasts that the global market is expected to garner $120,670 million by 2022, registering a CAGR of 25.4% during the period 2016-2022. Electricals & electronics segment is expected to remain the highest revenue-generating segment throughout the forecast period. North America held the leading position in the global market in 2015, and is expected to maintain its lead throughout the study period.
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According to Eswara Prasad, Team Lead Chemical Research at AMR, Strong demand in electronic equipment along with decreasing prices are the factors resulting in a significant upsurge in nano copper oxide demand in long run, though toxicity at higher concentration may hamper the market growth.
The demand for nano copper oxide has witnessed tremendous growth driven by the penetration in electrical & electronics, paints & coatings, semiconductors, coatings, energy storage, catalysts, and others. Nano copper oxide industry players are investing immensely to find new commercial avenues for their product segments via strategic partnership and collaborations. Some of the major factors that drive the demand for nano copper oxide include the upsurge in demand for electronic products, increase in demand for antimicrobial coatings, and decrease in prices of nano-copper oxide. However, factors such as toxicity to human lungs and aquatic life are expected to hamper the market growth during the forecast period. Growth in research & development coupled with government subsidies and increase in the number of an end-user industry will provide significant opportunities to the industry players across the value chain.
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In 2015, electricals & electronics was the largest end-user segment in terms of revenue with around half of the share followed by catalysts 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 penetration in a wide array of end-user as it results in improved performance of end-products.
The nanomaterial is researched extensively for its excellent properties and a wide range of applications. Government facilitates this by providing funds & subsidies to firms and labs. Nano copper oxide is the nanomaterial with excellent optical, catalytic, mechanical, and electrical properties. Other specific characteristics of the nano-copper oxide include photovoltaic application and photoconductivity due to the presence of narrow band gap. The application area includes semiconductor devices, gas sensor, batteries, and solar energy converter, microelectronics and heat transfer fluids. All these factors pave way elaborated research & development for nano copper oxide and increased opportunities in finding new applications of the material.
Key findings of Nano Copper Oxide Market:
-Energy storage segment is expected to witness highest CAGR of 26.7% during the forecast period.
-Electricals & electronics along with catalyst segment together account for more than two-thirds market share.
-North America is anticipated to lead the market throughout 2022, growing at a CAGR of 24.9%, in value terms from 2016 to 2022.
-China, Germany, and U.S. were the leading country in the global nano copper oxide market in 2015.
In 2015, North America accounted for more than one-third of the worldwide demand for nano copper oxide and are expected to maintain their lead position throughout the forecast period. Also, Asia-Pacific is projected to be the fastest growing region, with a CAGR of 26.2% during the forecast period owing to the economic and industrial development happening in emerging economies.
Major players in the industry invest significantly on research and development to launch new commercial applications at low cost. Strategic collaborations and business expansion are the other major strategies adopted by the industry players. The major companies profiled in the report include American Elements, Inframat Corporation, Hongwu International Group Ltd., NaBond Technologies Co., Nanocomposix, Nanoshel LLC, Nanostructured & Amorphous Materials, Inc., PlasmaChem GmbH, SkySpring Nanomaterials, Inc., and US Research Nanomaterials, Inc.
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