Nano Copper Oxide Market size is forecast to reach $249.70 million by 2025, after growing at a CAGR of 20.20% during 2020-2025. Investments in research and development, the increase in nano copper oxide penetration in different end-user industries and excellent nano copper oxide physiochemical features; are driving demand nano copper oxide. In order to improve end product performance, nano copper oxides are normally added in small amount. The demand for nano copper oxide in all regions has risen significantly because of its important physiochemical properties and also the market players operating in this market will have significant opportunities owing to the investments that are being made for advancements in this field.
- The demand for nano-copper oxide in the energy storage industry has been driven by substantial investment in research and development by major companies and customer acceptance. For example, scientific research on the production and development of leading inks with use of copper oxide in different countries is rigorous.
- To order to monitor and safeguard consumers ‘interest, the FDA, REACH and other regulations have developed specific guidelines for nanomaterials in a variety of industries.
- The electrical and electronics segment has highest share in 2019, owing to its excellent physio-chemical properties. Growing disposable income coupled with rising demand for smartphones, laptops, tablets, and electronic gadgets are driving the segment growth.
- The nano copper oxides can be used in various end user industries, because of its excellent electrical, catalytic, photoconductive, optoelectronic devices, mechanical and chemical properties.
End User – Segment Analysis
Electricals & Electronics segment holds the largest share in Nano Copper Oxide Market and growing at a CAGR of 22.2% during the forecast period 2020-2025. The use of nano copper oxides in this industry such as magnetic storage media, semiconductors, cathodes, solar cells and many other has created a significant business opportunities for manufactures of nano copper oxides. The increasing need for capacity storage has resulted in tremendous need for nano-copper oxides used in supercapacitors and lithium-ion-battery electrodes. Due to their high energy storage capacity, low costs, safety and environmental performance, the potential of Nano Copper Oxides to replace Graphite Anodes in Lithium Ion Batteries may raise the demand for Nano Copper Oxides in the forecast period. The ubiquitous use of lithium-ion batteries in applications ranging from electric vehicles to hybrid phones and power storage systems is expected to generate high demand in future for nano copper oxides.
Geography – Segment Analysis
APAC dominated the nano copper oxide market share with more than 38.6% in 2019, followed by North America and Europe. China and Japan will account for a major share in electronics and electricals market owing to the increasing government funding and support and advancement in technology. Furthermore, in addition to growing market demand, favorable conditions for production activity have led to strategic investments in APAC region for global companies. The presence of large market players and new market players, mainly in countries like China, India and others, are trying to get on to the market, to contribute the business growth.
Drivers – Nano Copper Oxide Market
- Increasing replacement of copper oxide
Copper oxides of nanoscale are produced for special applications and about 100 times more finely than copper oxides of different physical properties. Nano-copper oxide exhibits fascinating characteristics, including optical, catalytic, mechanical and electrical. They are also photovoltaic and photoconductors because of the narrow band distance between CuO crystal structures. These are used in semi-conductor systems (to increase fluid viscosity and enhance thermal properties conductivity for use in energy conversion), gas transducer, battery, solar converter, microelectronics and hot fluid transmission.
Challenges – Nano Copper Oxide Market
- High toxicity may hamper the market growth
Adverse effects have been reported in humans, such as nausea and vomiting after copper oxide powder swallowing or lung damage after copper oxide fumes breathe into the air. In most cases such impacts have the effect that the copper ions emitted from copper oxide are exposed to very large doses of this metal and thus a greater bioavailability of copper. Copper is, however, an essential trace factor for the normal function of many tissues, including the nervous system, the immune system, the heart and skin, and capillary formation. Copper is accepted and processed exceptionally well by humans. Though, this is not the case with all animals and other species of wildlife are more prone to copper toxicity.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Nano Copper Oxide Market. In 2019, the market of Nano Copper Oxide has been consolidated by the top five players accounting for xx% of the share. Major players in the Nano Copper Oxide Market are American Elements, Hongwu International Group Ltd., Inframat Corporation, Ionic Liquids Technologies GmbH, NanoComposix, Inc., Nanoshel LLC, Nanostructured & Amorphous Materials, Inc., PlasmaChem GmbH, SkySpring Nanomaterials, Inc. and US Research Nanomaterials Inc., among others.