Metal Nanoparticle Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Metal (Platinum, Gold, Silver, Iron, Titanium, and Others) and End-Use Industry (Pharmaceutical and Healthcare, Electrical and Electronics, Chemicals, Personal Care and Cosmetics, and Others)
The global metal nanoparticles market was valued at US$ 25,373.92 million in 2020 and is projected to reach US$ 81,567.38 million by 2028; it is expected to grow at a CAGR of 15.9% from 2021 to 2028.
Metal Nanoparticles have exceptional properties such as high aspect ratio and uniform size. They are used in a wide spectrum of applications, such as catalysis, medical, and energy storage. The metal nanoparticles have various applications in end-use industries, such as pharmaceuticals and healthcare, chemical, cosmetics, and electrical and electronics.
Based on end-use industry, the global metal nanoparticles market is segmented into pharmaceutical and healthcare, electrical and electronics, chemicals, personal care and cosmetics, and others. The pharmaceuticals and healthcare segment held the largest market share in 2020. Metal nanoparticles have various applications in the pharmaceutical and healthcare sector such as their use as therapeutic agents as well as in drug delivery, bioimaging, and cancer treatment and diagnostics. Many countries across the world are researching on metal nanoparticles that can be applied for cancer treatment. Along with this, the use of gold nanoparticles in the COVID-19 antibodies test kits is driving the demand for metal nanoparticles in the pharmaceutical and healthcare sector.
Geographically, the metal nanoparticles market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). In 2020, North America dominated the market. The increased applications of metal nanoparticles in industries, such as healthcare, cosmetic, and electricals and electronics, and the presence of domestic and international companies operating in the region and continuously enhancing the overall business processes would create lucrative growth opportunities for the market in North America during the forecast period. Along with this, an increased use of gold nanoparticles in the development of photovoltaic or solar cell is driving the metal nanoparticles market growth in the region.
The ongoing COVID-19 pandemic has had a significant impact on the metal nanoparticles market. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, which has created revenue loss and damage. The disruptions in the production and supply chain have had a negative impact on the metal nanoparticles market. The implementation of lockdown in various countries along with travel restrictions has lessened the global supply of products along with a reduced logistic operation. Research has been ongoing for the utilization of gold nanoparticles for COVID-19 testing kits, which will provide the results in minutes. In the US, a group of researchers at the University of Maryland claimed that they have developed a diagnostic test that can detect the novel coronavirus that causes COVID-19 within 10 minutes and the results will be visible with naked eyes. The test is a simple colorimetry-based assay, which uses gold nanoparticles that are capped with the nucleic acid sequence of the nucleocapsid phosphoprotein of the SARS-COV-2 virus. Along with this, Sugentech, Inc. (a company in Republic of Korea) developed SGTi-flex COVID-19 IgM/IgG test kit, which is a gold nanoparticle-based immunochromatographic test kit that determines COVID-19’s IgM and IgG antibodies. The test helps in determining the antibodies that are specific proteins, which are developed in response to the infection. Thus, an increased usage of gold nanoparticles in the healthcare sector is having a positive impact on the metal nanoparticles market.
American Elements; BBI Group; EPRUI Biotech Co. Ltd.; Meliorum Technologies, Inc.; Nanocomposix; Nanosc, Inc.; Nanostructured and Amorphous Materials, Inc.; Nanoshel LLC.; TANAKA HOLDINGS Co., Ltd.; and US Research Nanomaterials INC are among the major players operating in the global metal nanoparticles market.
The overall global metal nanoparticles market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global metal nanoparticles market.
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