Nanometals Market Overview
Nanometals market is forecast to reach US$3.1 billion by 2027, after growing at a CAGR of 14.2% during the forecast period 2022-2027. Nanometals are submicron entities that are usually composed of pure metals such as gold, platinum, silver, zinc, titanium, copper, iron, and palladium) or their compounds such as zin oxide, titanium dioxide, or copper tin alloy. Recently, nanometals made of volcanic ash are being used as a sustainable binder for the production of raw materials. Nanometals are commonly used in a wide range of applications such as healthcare, aeronautics, chemical, energy, electronics, automotive, building, and construction. An increase in demand from electronics, and the healthcare industry can act as major drivers for the market. However, the high capital costs associated with the production of nanometals can act as a major constraint for the market.
Nanometals Market COVID-19 Impact
There is no doubt that the COVID-19 lockdown has impacted the nanometals industry. Strict lockdowns all over the world interrupted the entire supply and trade of raw materials from manufacturing hubs like China, and India. However, the nanometals industry started gaining momentum during the end of 2020 due to increasing demand for vaccines and drugs such as Hydroxychloroquine and Remdesivir that were used to fight against COVID-19. For instance, according to a research report published on PLOS medicine, the cumulative volume of antibiotics that were sold in 2020 was about 16,290 million doses. Likewise, Gilead Sciences reported that its total revenue increased by 17% after incorporating the sales of coronavirus treatment Remdesivir. The increasing demand for drugs required for the treatment of COVID-19 along with increasing demand for vaccines to be manufactured in bulk in many countries across the world resulted in the growth of the nanometals industry as it plays an important role in the production of these drugs and vaccines. Nanometals can be customized for targeted delivery of drugs, and also help improve bioavailability, along with providing a controlled release of medication from a single dose. All of these factors have eventually led to the growth of the nanometals market and it is expected to rise in the upcoming years as well.
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Nanometals Market Segment Analysis – By Type
Silver nanometals held the largest share in the Nanometals Market in 2021 and is expected to grow at a CAGR of 14.2 % between 2022 and 2027. Silver nanometal usually comprises of stabilized silver salts, silver nanoparticles, composites of polymer and metal oxides, along with activated carbon materials, and silver-impregnated zeolite. The anti-inflammation, anti-bacterial, and wound healing properties of silver nanometals make it ideal for a wide range of applications such as wound and burn treatment, dental work, surgeries, and biomedical devices. Hence, these factors are most likely to increase their demand in the upcoming years.
Nanometals Market Segment Analysis – By End-Use Industry
The Pharmaceutical & Healthcare Industry held the largest share in the Nanometals Market in 2021 and is expected to grow at a CAGR of 14.5 % between 2022 and 2027. The major reason behind this is their wide usage and effectiveness in the development of better and safer drugs. Initially, healthcare professionals had recommended antiviral drugs as the major mean of protection against COVID-19, especially because of their effectiveness in resolving pneumonia and other respiratory illnesses caused by the virus. According to recent research published on Springer in February 2021, the use of nanometals have effectively proven its value through its application drug delivery and nanosensors in other diseases. Likewise, it also states that nanometals along with their components can play a significant role in several phases of prevention, diagnosis, treatment, vaccination, and research associated with COVID-19. Nanometal-based antimicrobial technology when combined with personal equipment proved to provide greater safety of healthcare workers as well. Moreover, nanometals help in facilitating the enhancement of pharmacological drug properties as well.
Since nanometals have improved solubility, multi-functionality, can be customized for targeted delivery of drugs, and also help improve bioavailability, along with providing a controlled release of medication from a single dose, the use of nanometals required for the production of antiviral drugs, and the vaccine is also expected to rise significantly, which can help boost the market growth.
Nanometals Market Segment Analysis – By Geography
The Asia Pacific held the largest share in the Nanometals Market in 2021 up to 30%. A recent study indicates that the total sales revenue of traditional pharmaceuticals in China amounted to about $28.8 billion in 2019 and is expected to increase in the upcoming years. Likewise, recent reports from India Brand Equity Foundation (IBEF) shows that the Indian pharmaceutical sector supplies over 50% of the global demand for various vaccines, 40% of the generic demand for the US, and 25% of all medicines for the UK during the ongoing COVID-19 pandemic. It also states that India holds the second-largest share of the pharmaceutical and biotech workforce in the world. According to the Indian Economic Survey 2021, the domestic pharmaceutical market is estimated to grow 3x in the next decade. Similarly, under Union Budget 2021-22, the Ministry of Health and Family Welfare has been allotted INR 73,932 crore (US$ 10.35 billion) and the Department of Health Research has been allotted INR 2,663 crore (US$ 365.68 billion). The government allotted INR 37,130 crore (US$ 5.10 billion) to the ‘National Health Mission’. India plans to set up a nearly INR 1 lakh crore (US$ 1.3 billion) fund to provide a boost to companies to manufacture pharmaceutical ingredients domestically by 2023.
Nanometals have properties such as high biocompatibility, stability, anti-bacterial property and provide the possibility of large-scale production which makes them ideal for various medical applications and medical drug production. Hence, in this way an increase in demand of medicines and drugs from pharmaceutical sectors across multiple countries will eventually lead to an increase in demand of nanometals required for their production as well, thus, leading to market growth.
Nanometals Market – Drivers
An increase in demand from the electronics industry is most likely to increase demand for the product
According to a recent research published in the Journal of Scientific and Technical Research, nanometals are widely used in electronic applications such as Solar Cell, Photo Catalysis, Imaging Sensor, Display, Optical Detector, and Laser due to the ideal properties that it holds. These nanometals properties include better optical polarizability, chemical properties, and better electrical conductivity. Glennmont Partners has launched an independent power company called BNZ in 2021 for the purpose of developing and operating solar photovoltaic (PV) projects in Southern Europe. The company intends to install 1 gigawatt of solar PV capacity in Portugal, Italy, and Spain by 2024. This will further, drive the demand for nanometals in the upcoming years.
An increase in demand from the healthcare industry is most likely to increase demand for the product
Silver nanometals are widely used in healthcare applications because of the properties they hold such as anti-inflammation, anti-bacterial, and wound healing properties that are commonly used for applications such as wound and burn treatment, dental work, surgeries, and biomedical devices. They are also used in the production of medicines since they provide targeted delivery of drugs, help sustain the drug or gene effect in target tissues, and also helps to enhance bioavailability and stability. According to a report published by IMS Institute for Healthcare Informatics, the overall volume of medicines used across the globe reached around 4.5 trillion doses by 2020 with an approximate cost of around $1.4 trillion. As the demand of medical drug production in healthcare sectors in countries across the globe increases, the demand for the use of nanometals is also expected to rise significantly, which can help boost the market growth.
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Nanometals Market – Challenges
High capital cost associated with the production of nanometals can cause an obstruction to the market growth
According to a recent article published on “engineering.com”, the cost of batch processing of nanometals is usually very high. For example, the cost of production of gold nanometals is around USD$80,000 per gram whereas a gram of raw gold costs around USD$50. Likewise, the cost of production of other nanometals is also generally very high. Hence, the high capital cost associated with the production of nanometals is likely to confine the market growth.
Nanometals Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Ethylene Vinyl Acetate Market. Nanometals Market top companies are:
Eprui Nanomaterials and Microspheres
In June 2021, Danaher acquired Precision NanoSystems (PNI), which focuses on the development of technologies and solutions for genetic medicines, which include mRNA vaccines and therapeutics.
In August 2019, Baikowski SA acquired a manufacturing company called Mathym SAS. Mathym SAS is a nanotechnology company that focuses on the development, manufacturing, and commercialization of nano-dispersions. The products from the company are widely used in a variety of applications such as the dental and orthopedic sectors, surface, ceramic coating along with 3D printing applications, where they play a major role in providing or reinforcing critical properties of composite materials.
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- Silver Nanometals segment held the largest share in the Nanometals Market since the demand for silver nanometals is increasing rapidly due to the ideal properties it holds such as better electrical, optical and thermal strength, along with high electrical conductivity, and biological properties.
- Pharmaceuticals & Healthcare Industry in Nanometals Market is expected to see the fastest growth, owing to increasing demand for nanometals like zinc oxide, and silver nanometals required for the production of medical drugs, ointments, treatment and other medical applications.
- Nanometals such as copper tin alloy, and titanium dioxide have properties such as high mechanical strength, low melting point, optical properties, high surface area, and better corrosion resistance that makes it ideal for the production of various construction materials.
- Asia-Pacific dominated the Nanometals Market in 2021. The major reason behind this is the rising requirement and demand for medical drugs and vaccines that has specifically seen a surge after the increase of COVID-19 cases around the world.
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