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Nano Zinc Oxide Market Segmented By process such as Indirect process, Direct process, Wet chemical process, Laboratory synthesis with product type such as Uncoated Nano Zinc Oxide and Coated Nano Zinc Oxide
Zinc oxide (Zno) is a white powder formed by oxidising zinc metal, which naturally occurs as zincite minerals. The zinc oxide particles with size less than 100 nanometre are usually called as nano zinc oxide. Nano zinc oxide is widely used in numerous applications such as manufacturing of rubber (tyres), cigarettes filters, concrete, ceramic, coating agents, food additives, glass, lubricants, paints, ointments, adhesives, plastics, sealants, and pigments amongst others.
Use of zinc oxide has been widely found in cosmetic products for making different skin lotions, creams, etc. Nano zinc oxide acts as a UV filter used in sunscreen. It is anticipated that the market for nano zinc oxide is being driven by the growth in the bio medical applications. The nano zinc oxide market is estimated to grow at significant CAGR over the forecast period due to innovation in nanomaterial technology.
Nano Zinc Oxide Market Drivers
The driving factor for the growth of the nano zinc oxide market is its comprehensive use in the personal care industry. Nano zinc oxide is mostly used in cosmetic products such as sunscreen as UV filter because of its ability to absorb UV rays. Another use of nano zinc oxide is as cosmetic colorant to change the appearance of cosmetic products on the skin as it easily gets mixed with other particles and is easily breakable and highly stable in nature. Use of nano zinc oxide is safe as approved by the food and drug administration (FDA).
Advancement in nanomaterial technology has led to the increase in use of nano zinc oxide in biomedical applications. Properties of nano zinc oxide such as low toxicity and biodegradability make it prominent element for the health care industry and can be used in different aspects of metabolism.
Emerging nanomaterial technology has found its use in biomedical applications such as imaging, drug delivery, gene delivery and biosensing due to its unique properties such as phototoxic effect, optical, and piezoelectric and ability to get dissolved with both highly acidic and highly basic materials. Nano zinc oxide is toxic for cancer cell thus it is also used in cancer therapy.
Nano Zinc Oxide Market Trends
Recent research in nanomaterial technology has spotted use of nano zinc oxide in the agriculture industry. Utilization of nano zinc oxide in gas sensors and biosensors in the agriculture industry is expected to boost the demand for nano zinc oxide due to its excellent optical, physical, and antimicrobial properties.
Concerning to the pollution, the demand for bio products has increased, which is expected to increase adoption of green synthesised nano zinc oxide in different areas, which is safe and eco-friendly as compared to other chemical synthesis.
Nano Zinc Oxide Market Restraints
Use of nano zinc oxide is proved to be safe for skin application, but inhaling nano particles via spray containing nano zinc oxide particles or other products can be harmful for living beings, causing health problems, which is expected to be a restraining factor for the growth of the global nano zinc oxide market.
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Asia Pacific is expected to be an attractive market in the global nano zinc oxide market owing to the increasing demand for paints & coating, cosmetic products majorly in countries such as China and India. Increasing awareness and growing use of personal care products in regions such as North America is projected to create moderate demand for nano zinc oxide in the region. The growing chemical industry in Europe is expected to drive the growth of the nano zinc oxide market in the region.
Developed economies such as North America and Europe hold significant share in the global nano zinc oxide market with increasing investments in the biomedical sector. Japan is expected to witness moderate growth in the global nano zinc oxide market. Latin America is expected to show positive economic outlook resulting by increased foreign direct investment in regions such as Brazil and Mexico, thus creating demand for nano zinc oxide in the latter half of the forecast period.
Examples of some of the key participants identified across the value chain of the global nano zinc oxide market are: