For the last few years, research and development in the field of nanoparticles such as zinc oxide, TiO2, and graphite has gained momentum. Zinc oxide nanoparticles are referred to as semiconductor materials, due to their unique properties such as high binding energy and wide band gap. These materials possess antifungal, antibacterial, and UV-filtering properties. They are used in various fields such as material science, optics, bio-medicine, and electronics. They are widely employed in the building & construction industry as an additive to concrete and ceramics. They are used as catalysts in cosmetics such as calamine lotion and ointments to treat skin diseases; as coating agents in the paints & coatings industry, as additives in food products; and as filler materials in the manufacture of cigarettes. Zinc oxide nanoparticles are also employed in vulcanization of rubber for the manufacture of tires.
Based on processing technique, the global zinc oxide nanoparticles market has been categorized into spray pyrolysis method, precipitation method, hydrothermal method, micro-emulsion method, and sol gel method. Sol gel is one of the most popular processing techniques, followed by spray pyrolysis. Demand for these two techniques is expected to rise during the forecast period, due to cost-effectiveness and easy processability offered by them. Rising number of end-user industries such as automotive, pharmaceutical, and building & construction coupled with increased usage of zinc oxide nanoparticles as an additive or catalyst are factors expected to raise the demand for these nanoparticles during the forecast period. Zinc oxide nanoparticles possess good conductivity, which aids in the removal of high amount of heat generated during churning motion of tires. In addition, these nanoparticles increase water-resistivity when employed during the cement manufacturing process. Owing to their antibacterial and antifungal properties, zinc oxide nanoparticles are increasingly used in the pharmaceutical industry for the manufacture of zinc pastes, zinc ointments, bandages, and adhesive tapes for wound and skin treatment.
Rising demand for various sensors such as bio-sensors, chemical sensors, gas sensors, and optoelectronic devices is expected to drive the global zinc oxide nanoparticles market in the near future. Furthermore, rising demand for UVA/B filters in sun protection and sunscreen cosmetics is leading to expansion of the market at a significant rate. However, toxicity associated with zinc oxide processability may hamper growth of the market in the near future. Progression of zinc oxide nanoparticles from the laboratory level to the industrial level is a major challenges for manufacturers. However, increasing investments in research & development, industrial collaborations, and government initiatives are some of the factors that would create ample opportunities for manufacturers in the next few years.
Geographically, the global zinc oxide nanoparticles market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America leads the global market for zinc oxide nanoparticles, due to high investments in R&D activities in the region. Furthermore, rising demand for high-quality interior electronics, especially in the automotive industry, is likely to boost the market in the region during the forecast period. The markets in Asia Pacific and Europe are anticipated to expand significantly during the forecast period, due to rapid industrialization and urbanization in the two regions. Increasing disposable income in China, ASEAN, and India is expected to provide lucrative opportunities to zinc oxide manufacturers in Asia Pacific in the near future. Rising consumer awareness and increased purchasing power for high-quality cosmetics in Latin America and Middle East & Africa are factors driving the zinc oxide nanoparticles market in the two regions.
Key players operating in the global zinc oxide nanoparticles market are Advanced Nano Technologies Limited, Nanophase Technology Corporation, Hakusuitech Co., Ltd., Sakai Chemical, Showa Denko, and Weifang Longda Zinc Industry, Co., Ltd.