Nanocopper oxide is a red or brown to black nanomaterial available in various forms and is used to meet the needs of the diversified user base. These nanoparticles possess several chemical and physical attributes including antimicrobial and antibiocide properties, photovoltaic properties, relatively stability, and superconductivity. They are generally used in small quantities to boost the performance of the endproduct; they are also considered to be cost-efficient advanced solutions. The nanonparticles are, therefore, used to manufacture batteries, semiconductor devices and equipment, gas sensors, microelectronics, and other equipment. Extensive research and development activities in the field of nanotechnology have paved the way for the application of these nanoparticles in biomedical, agricultural, textile, and other relevant industries.
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Market Overview and Dynamics
The nanocopper oxide market was valued at US$ 26,527.3thousand in 2018 and is projected to reach US$ 85,892.9thousand by 2027; it is expected to grow at a CAGR of 14.1% from 2019 to 2027.Factors driving the market growth include increasing demand for nanocopper oxidein the production of electronic equipment, and increasing use of metal oxide nanoparticles in paints and coatings. However, thehigh level of toxicity associated with nanocopper oxiderestrains the market growth.
Key Market Segments
The nanocopper oxidemarket, based on enduser, is segmentedinto electrical and electronics, paints and coatings, catalysts, energy storage, and others. In 2018, the electrical and electronics segment accounted for the largest share of the North America nanocopper oxide market; the paints and coatings segment is expected to register the highest CAGR during the forecast period.Advances in the physical scale and cost of computing power have offered devices geared at a customer market to carry substantial onboard processing proficiency. Similarly, low cost has urged mass adoption of handheld and smaller computing products using specialty materials such as nanocopper oxide.Moreover, nanocopper oxide materials have enabled the possibility of making devices that are flexible, transparent, lightweight,and low cost.
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Impact of COVID-19
The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals and materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. In North America, the US is one of themanufacturing hubsand is the largest raw material supplier for various industries. The overall market breakdown due to COVID-19 is also affecting the growth of the nanocopper oxide market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
Major Sources and Companies Listed
A few of the major primary and secondary sources associated with this report on the nanocopper oxidemarket are American Elements; Inframat Corporation; nanoComposix; Nanoshel LLC; Nanostructured & Amorphous Materials, Inc.; SkySpringNanomaterials Inc.; Strem Chemicals Inc.; and US Research Nanomaterials, Inc.
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