Nano Zinc Oxide Market size is forecast to reach $704 million by 2025, after growing at a CAGR of 12% during 2020-2025. Nano Zinc Oxide market is expected to witness the significant growth due to novel physiochemical characteristics, such as anti-bacterial, anti-corrosive, anti-fungal, catalytic, and UV filtering properties. They are mostly used in paints & coatings, cosmetics, household products, food contact materials, medical dressings, textiles, electronics, and others.
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End Use Industry – Segment Analysis
Cosmetic product segment has been the primary market for Nano Zinc Oxide. Cosmetic segment is one of the attractive market due to increased purchasing power in the emerging economies and awareness among the consumers regarding adverse effects of UV rays. Functionality of nano zinc oxide in the cosmetic is high because of its excellent physio-chemical properties. Nanoparticles are now popularly used in every personal care product available in market, including shampoo, deodorant, sunscreens, soaps, toothpaste, hair conditioner and others. Minimal regulatory constraints and limited health impacts is increasing Nano zinc oxide implementation in skincare and medical products.
Geography – Segment Analysis
Asia Pacific dominates the Nano Zinc Oxide market with a share of more than 38%, followed by North America and Europe. Asia Pacific is witnessing strong growth prospects owing to surge in consumption of personal care and cosmetics products. Asia-Pacific is the largest personal chemicals care market and is likely to register the fastest growth during the forecast period. China, which has the largest market for personal care products in Asia-Pacific dominated the market. The market is expected to register a higher growth owing to the increasing number of products offering comfort, convenience and health benefits in the market. Enormous growth in personal care market in India, combined with increasing use of ingredients in these products, has been driving the India’s cosmetic market. India continues to be one of major target markets due to huge consumer base.
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Drivers – Nano Zinc Oxide Market
Advancement in Nano material technology has led to the increase in use of nano zinc oxide in biomedical applications. Propertied of nano zinc oxide has made it one of the prominent element for the health care industry. The advanced nano material has found its use in biomedical applications such as imaging, drug delivery, gene deliver and others.
Challenges – Nano Zinc Oxide Market
The use of nano zinc oxide in the skin care application has been prove beneficial but inhaling nano particles can be harmful for human health. There is a growing need to understand the impact of nanoparticles on toxicity that can easily enter the cells and cause oxidative stress. These products have become a direct source of pollution in the environment and thereby greatly impact on ecosystem.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Nano Zinc Oxide market. In 2019, the market of Nano Zinc Oxide has been consolidated by the top five players accounting for xx% of the share. Major players in the Advanced Nano Technologies Limited, BYK, Elementis Specialties, Grillo Zinkoxid GmbH, Hakusuitech Co. Ltd. and others.
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