Nano Zinc Oxide Market Overview
As per MRFR analysis, the Nano Zinc Oxide Market Size was estimated at 4.92 (USD Billion) in 2022. The Nano Zinc Oxide Market Industry is expected to grow from 5.63(USD Billion) in 2023 to 18.7 (USD Billion) by 2032. The Nano Zinc Oxide Market CAGR (growth rate) is expected to be around 14.27% during the forecast period (2024 - 2032).
Key Nano Zinc Oxide Market Trends Highlighted
The global nano zinc oxide market is driven by the increasing demand for zinc oxide in diverse industries such as electronics, construction, and healthcare. As an essential additive in paints, coatings, and plastics, nano zinc oxide enhances their durability and UV protection capabilities. Its antibacterial and antifungal properties make it crucial in the production of personal care and cosmetic products.Market opportunities lie in the growing adoption of zinc oxide in energy-efficient devices, such as solar cells and light-emitting diodes. Its potential in environmental remediation, particularly in water and soil purification, presents significant market growth opportunities. Moreover, the increasing demand for nanotechnology in advanced materials and applications further fuels market expansion.
Recent market trends include the development of functionalized nano zinc oxides with tailored properties to meet specific end-user requirements. The emergence of bio-based zinc oxide production methods using sustainable feedstocks aligns with the growing emphasis on environmental consciousness. Additionally, the integration of nano zinc oxide into composite materials has opened new avenues for advanced applications in optics, electronics, and catalysis.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Nano Zinc Oxide Market Drivers
Increasing Demand for Nano Zinc Oxide in Electronics
The global electronics industry is booming due to the growing demand for such products as smartphones, tablets, and other electronic gadgets. Nano zinc oxide is a material that has a number of electronic uses, including solar cells, batteries, and displays. As such, the continuous rise in the demand for various electronic items will fuel the growth of the electronic market in the future. Additionally, this material boasts a high number of properties: it is highly resistant to heat and chemicals, possesses a high refractive index, and is transparent and conductive.Consequently, it is perfectly suitable for use in solar cells, batteries, and displays. As a result of the growing demand for the also in industry, the market of nano zinc oxide is projected to increase from USD 5.63 billion in 2023 to USD 18.7 billion in 2032, at a CAGR of 14.27%. Furthermore, aside from the increasing needs of the rising electronics industry, the growth of the nano zinc oxide market is also associated with the growing demand for nano zinc oxide for a number of other uses, namely, healthcare, cosmetics, and food.It is used in the healthcare industry in the making of such applications as drug delivery, wound healing, and sunscreens. Moreover, it is also applied in cosmetics as an antibacterial and antifungal agent. Finally, the material is used in the food industry as a food additive that helps prolong the preservation of different food items.
Rising Awareness of the Benefits of Nano Zinc Oxide
The other hot motivator of the development of the nano zinc oxide market is the increasing awareness of the benefits of nano zinc oxide. Nano zinc oxide is known to be a safe and effective material that is widely used. In addition, it is non-toxic and hypoallergenic, and it has some antibacterial and antifungal properties. The increasing awareness of the benefits of nano zinc oxide has already resulted in the further expanded use of this material in various applications, including healthcare, cosmetics, and food.Regarding healthcare, nano zinc oxide is used for drug delivery, wound healing, and sunscreens. As for cosmetics, this material is used as an antibacterial and antifungal agent. Finally, with regard to food, nano zinc oxide is used as a food additive in order to extend the shelf life of food products. The increased awareness of the benefits of nano zinc oxide will be a popular motivator for the further development of the nano zinc oxide market in the future.
Government Regulations and Support for Nano Zinc Oxide
Another vital driver of the nano zinc oxide’s market growth is the relevant government regulations and support. Nowadays, government agencies in various countries across the globe become increasingly aware of the potential benefits of nano zinc oxide and promoting this material are adopting different types of regulations to control and facilitate its development and use. Governments also support projects and companies developing specific applications of zinc oxide.In the following years, government regulations and support are expected to continue driving the zinc oxide market growth.
Nano Zinc Oxide Market Segment Insights
Nano Zinc Oxide Market Form Insights
The Global Nano Zinc Oxide Market is classified by Form into Powder, Slurry, and Colloidal Dispersions. The Powder segment generated the highest market share in 2023 and is anticipated to retain its dominance throughout the analyzed period. The growth of this segment is attributed to the increasing consumption of the nano zinc oxide powder in a wide range of applications, such as paint coatings, rubber plastics, and ceramics. The Slurry segment is expected to register a high growth rate during the analyzed period. The increasing demand for nano zinc oxide slurries for the production of various electronic devices, solar cells, and semiconductors is expected to drive the growth of the analyzed segment.The Colloidal Dispersions segment is anticipated to grow at a steady rate during the analyzed period. The expanding utilization of the nano zinc oxide colloidal dispersions in the manufacturing of various sunscreens, lotions, cosmetics, and personal care products is the major factor contributing to the steady growth of the segment. The Global Nano Zinc Oxide Market segmentation by Form provides an in-depth analysis of the market and is beneficial for the stakeholders to understand the lucrative segments, make effective business decisions, and formulate their product-specific market strategy to boost their revenue.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Nano Zinc Oxide Market Application Insights
The Applications segment can be divided into Cosmetics, Pharmaceuticals, Sunscreen, Paints, Coatings, and Textiles. In 2023, the Cosmetics segment took up the greatest share of the Global Nano Zinc Oxide Market, about 28.5%. The immense demand for this product exists due to the UV protective and antimicrobial properties of nano zinc oxide, making it one of the crucial components for the manufacturing of sunscreens, creams, and foundations. It is projected that the Pharmaceuticals segment would be the fastest-growing during the analyzed period, given the fact that nano zinc oxide is increasingly being used for drug carriers and wound healing.In 2024, the Application segment of the market would reach USD 6.43 billion, realizing a CAGR of 13.4% for the period from 2023 to 2032.
Nano Zinc Oxide Market Purity Insights
The Purity segment of the Global Nano Zinc Oxide Market is expected to witness significant growth in the coming years. The demand for high-purity nano zinc oxide is increasing due to its superior properties, such as enhanced optical, electrical, and mechanical characteristics. Among the different purity grades, 99.99% nano zinc oxide is expected to hold the largest market share, driven by its wide application in various industries, including electronics, pharmaceuticals, and cosmetics. The increasing use of nano zinc oxide in sunscreens and other personal care products is also contributing to the growth of the 99.99% purity segment.The market for 99.9% nano zinc oxide is also expected to grow at a steady pace, driven by its use in paints, coatings, and other industrial applications. The demand for 99.7% and 99.5% nano zinc oxide is expected to remain relatively lower, but these grades are still used in certain niche applications, such as in sensors and catalysts. Overall, the Purity segment of the Global Nano Zinc Oxide Market is expected to continue to grow, driven by the increasing demand for high-purity nano zinc oxide across various industries.
Nano Zinc Oxide Market Particle Size Insights
The particle size segment is a crucial aspect of the Global Nano Zinc Oxide Market segmentation. This segment categorizes the market based on the size of the nano zinc oxide particles, which significantly influences their properties and applications. Among the key particle size ranges, '10-20 nm,' '20-50 nm,' '50-100 nm,' and '100-200 nm' hold significant market shares. The '10-20 nm’ particle size range is particularly valuable in applications requiring high surface area and reactivity, such as in photocatalysis, sensing, and drug delivery systems.The '20-50 nm' range offers a balance of properties, making it suitable for various applications, including cosmetics, sunscreens, and biomedical devices. The '50-100 nm' range is often preferred for applications where controlled release and targeted delivery are crucial, such as in drug delivery and tissue engineering. The '100-200 nm' range finds applications in industries such as electronics, optics, and energy storage due to its unique optical and electrical properties. The Global Nano Zinc Oxide Market is projected to reach a substantial market size of 5.63 billion USD in 2023, and it is anticipated to grow exponentially in the coming years, driven by increasing demand from end-use industries such as electronics, healthcare, and cosmetics.The market growth is attributed to the unique properties of nano zinc oxide, including its antimicrobial, UV-protective, and catalytic capabilities. These properties make nano zinc oxide a versatile material for various applications, propelling market expansion.
Nano Zinc Oxide Market Crystal Structure Insights
The global nano zinc oxide market is segmented by crystal structure into wurtzite and cubic. Among these, the wurtzite segment held a dominant market share in 2023 and is projected to maintain its dominance throughout the forecast period. The wurtzite structure is more stable than the cubic structure, making it more suitable for a wide range of applications. The wurtzite structure also has a higher surface area than the cubic structure, which makes it more reactive. The global nano zinc oxide market revenue for the wurtzite segment is expected to reach USD 7.8 billion by 2032, growing at a CAGR of 14.5%.The cubic segment is expected to grow at a CAGR of 13.7% during the forecast period. The growth of the cubic segment is attributed to the increasing demand for cubic nano zinc oxide in the electronics industry. Cubic nano zinc oxide is used in a variety of electronic devices, such as solar cells, transistors, and light-emitting diodes (LEDs).
Nano Zinc Oxide Market Regional Insights
The regional segmentation of the Global Nano Zinc Oxide Market provides insights into the market's geographic distribution and performance. North America is anticipated to hold a significant market share due to the presence of major manufacturers and the increasing adoption of nanotechnology in various industries. Europe is another key region driven by stringent regulations regarding the use of chemicals and the growing demand for eco-friendly materials. The APAC region is projected to witness substantial growth, attributed to the expanding electronics and healthcare industries in countries such as China and India.South America and the MEA region are expected to contribute to the overall market growth with increasing investments in infrastructure and industrial development. By 2024, the Global Nano Zinc Oxide Market revenue is forecasted to reach USD 6.23 billion, indicating steady market growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Nano Zinc Oxide Market Key Players And Competitive Insights
Major players in Nano Zinc Oxide Market industry are constantly striving to gain a competitive advantage by investing in research and development (RD) to introduce innovative products and technologies. Leading Nano Zinc Oxide Market players are focusing on developing high-performance, cost-effective, and environmentally friendly products to meet the evolving demands of customers. The Nano Zinc Oxide Market is characterized by intense competition, with established players and emerging companies vying for market share. Strategic partnerships, mergers, and acquisitions are common strategies adopted by companies to expand their global presence and product portfolios.US Nano is a leading company in the Global Nano Zinc Oxide Market, offering a comprehensive range of nano zinc oxide products for various applications. The company is known for its commitment to innovation and customer satisfaction, and it has established a strong global distribution network. US Nano's products are used in a wide range of industries, including cosmetics, personal care, paints and coatings, and electronics. The company has received numerous awards and recognitions for its contributions to the industry.Nanoscale Materials is a major competitor in the Global Nano Zinc Oxide Market, specializing in the production of high-quality nano zinc oxide powders. The company is known for its advanced manufacturing capabilities and stringent quality control processes. Nanoscale Materials offers a wide range of nano zinc oxide products tailored to meet the specific requirements of different industries. The company has a strong focus on sustainability and environmental responsibility, and it has implemented various initiatives to reduce its carbon footprint.
Key Companies in the Nano Zinc Oxide Market Include
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Solvay
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M2I Corporation
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Nanoshel
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Jiangsu Tianhe Industrial Co Ltd
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Jilin Province Changchun Jilin University North Chemical Co Ltd
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Tokyo Chemical Industry
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Evonik Industries
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MTI Corporation
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AZO Materials
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Nanophase Technologies
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Arkema SA
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Obducat
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US Research Nanomaterials
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Shenzhen Nano Tech
Nano Zinc Oxide Market Industry Developments
The global nano zinc oxide market size was valued at USD 5.63 billion in 2023 and is projected to reach USD 18.7 billion by 2032, exhibiting a CAGR of 14.27% during the forecast period. The increasing demand for nano zinc oxide in various applications, such as personal care, paint coatings, and electronics, is driving market growth.Recent developments in the market include the launch of innovative products and strategic collaborations among key players. For instance, in January 2023, Evonik Industries launched a new grade of nano zinc oxide, AEROSIL R 972, specifically designed for use in sunscreens and other personal care products. Additionally, in June 2023, BASF and Arkema announced a partnership to develop and commercialize new nano zinc oxide-based solutions for the automotive and construction industries.
Nano Zinc Oxide Market Segmentation Insights
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Nano Zinc Oxide Market Form Outlook
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Powder
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Slurry
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Colloidal Dispersions
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Nano Zinc Oxide Market Application Outlook
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Cosmetics
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Pharmaceuticals
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Sunscreen
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Paints Coatings
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Textiles
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Nano Zinc Oxide Market Purity Outlook
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Nano Zinc Oxide Market Particle Size Outlook
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10-20 nm
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20-50 nm
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50-100 nm
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100-200 nm
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Nano Zinc Oxide Market Crystal Structure Outlook
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Nano Zinc Oxide Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
4.92(USD Billion) |
| Market Size 2023 |
5.63(USD Billion) |
| Market Size 2032 |
18.7(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
14.27% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Solvay, M2I Corporation, Nanoshel, Jiangsu Tianhe Industrial Co Ltd, Jilin Province Changchun Jilin University North Chemical Co Ltd, Tokyo Chemical Industry, Evonik Industries, MTI Corporation, AZO Materials, Nanophase Technologies, Arkema SA, Obducat, US Research Nanomaterials, Shenzhen Nano Tech |
| Segments Covered |
Form, Application, Purity, Particle Size, Crystal Structure, Regional |
| Key Market Opportunities |
Increasing demand for UV protection growth in the electronics industry, rising adoption in healthcare |
| Key Market Dynamics |
Increasing demand in electronics Enhanced antibacterial properties Growing application in sunscreens Rising preference in cosmetics Technological advancements |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Nano Zinc Oxide Market is estimated to be around USD 5.63 Billion in 2023.
The Global Nano Zinc Oxide Market is projected to reach around USD 18.7 Billion by 2032, exhibiting a CAGR of 14.27% during the forecast period from 2024 to 2032.
The Asia-Pacific region is expected to dominate the Global Nano Zinc Oxide Market in the coming years due to the increasing demand for nano zinc oxide in various industries, such as electronics, healthcare, and personal care.
The major applications of nano zinc oxide include UV protection in sunscreens and cosmetics, antibacterial coatings in medical devices, and semiconductor materials in electronics.
The key competitors in the Global Nano Zinc Oxide Market include BASF, Umicore, Solvay, Evonik, and Arkema.
The key growth drivers of the Global Nano Zinc Oxide Market include the increasing demand for nano zinc oxide in various industries, such as electronics, healthcare, and personal care, as well as the growing awareness of the benefits of nano zinc oxide, such as its UV protection and antibacterial properties.
The challenges faced by the Global Nano Zinc Oxide Market include the high cost of production, the lack of standardization, and the potential environmental and health risks associated with the use of nano zinc oxide.
The opportunities for the Global Nano Zinc Oxide Market include the development of new applications for nano zinc oxide, such as in energy storage and catalysis, as well as the growing demand for nano zinc oxide in emerging markets.
The key trends in the Global Nano Zinc Oxide Market include the increasing demand for nano zinc oxide in transparent conductive films, the development of new nano zinc oxide-based composites, and the growing adoption of nano zinc oxide in biomedical applications.
The potential risks associated with the Global Nano Zinc Oxide Market include the environmental and health risks associated with the use of nano zinc oxide, as well as the regulatory challenges associated with the production and use of nano zinc oxide.
