Global Nanometals Market - Segmented by Product Type, End-user Industry and Region - Growth, Trends and Forecasts (2018 - 2023)
The global nanometals market is expected grow at a significant rate during the forecast period (2018 - 2023), majorly driven by increasing usage in fuel additives, and emerging usage in the water treatment industry. Nanometals have higher surface area. The nanometals of size 10nm have 10% of their atoms on the surface, where as the ones of size of 2.5nm have 60% of their atoms on their surface. Due to such a high percentage of atoms exposed on their surface, nanometals have an advantage over their bulk materials.
Increasing Usage in Fuel Additives Driving the Market
With the advancements in technology, and the growing demand for nanotechnology, manufacturers are further improving the combustion by adding nanometals in the additives, such as cerium oxide nanoparticles, aluminum nanoparticles, and magnesium-aluminum and cobalt oxide nanoparticles. For instance, cerium oxide (nanometal-oxide) has the ability to catalyze combustion by donating oxygen atoms. Adding cerium oxide to fuel aids in efficient decomposition of soot and unburnt hydrocarbons, in turn reducing the amount of exhaust emissions and ensuring efficient utilization of fuel or maintaining the corporate average fuel economy standard.
Silver to Dominate the Market
Silver nanometal include silver nanoparticles, stabilized silver salts, polymer and metal oxide composites, and silver-impregnated zeolite and activated carbon materials. Currently, there are more than 1,317 nanotechnology-based products on the market. Silver nanometal account for more than 23% of all Nano-products. Silver nanometal is known as excellent antimicrobial agent, and therefore, they could be used as alternative disinfectant agents. Many textiles, keyboards, wound dressings, and biomedical devices contain silver nanoparticles, which continuously release a low level of silver ions to provide protection against bacteria.
Growing Demand from Automotive and Healthcare Driving the Asia-Pacific Market
The growth in technology and increase in investments in research & development with government support has driven the market for nanometals with its high usage in various applications. In Asia-Pacific, China is the largest producer of automotive, with more than 29 million automobiles (passenger & commercial vehicles combined) produced in 2017. In Asia-Pacific, the healthcare industry is growing as the rollout of public health care programs combined with growing consumer wealth are anticipated to boost health care spending. Thus, growing demand from automotive and healthcare is boosting the nanometals market in the forecast period.
Major Players: Eprui Nanomaterials & Microspheres, Reinste, Baikowski, and BC Nanotech, amongst others.
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Analyzing various perspectives of the market with the help of Porter’s five forces analysis
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