Nano zinc oxide market 2019
How will the global nano zinc oxide market gain traction via rising demand from the cosmetics sector?
Nano zinc oxides are increasingly used in the cosmetics and the paints & coatings sectors. Especially in the cosmetics sector, nano zinc oxides are used for making different skin creams and lotions. Growing customer awareness and demand for reliable and safe cosmetic products could support product penetration. Increasing purchasing power and the surging requirement for high quality cosmetic items would contribute to nano zinc oxide industry expansion.
According to a study conducted by Global Market Insights, Inc., the global nano zinc oxide market is anticipated to exceed USD 800 million valuations by 2026.
Coated nano zinc oxide are renowned for its UV blocking capabilities. It is mostly used as a viable ingredient for developing sunscreen cosmetic products. Stringent federal regulations and standards regarding the safety of cosmetic products could improve coated nano zinc oxide market dynamics. For instance, the U.S. FDA. is working with industry players to determine the safety of sunscreen active ingredients. Moreover, the need for new cosmetic products that complying with updated standards may augment the nano zinc oxide market share in the forthcoming years.
In the paints and coating industry, nano zinc oxides are used as mold inhibitors and pigment primarily to enhance the thermal stability and photostability of latex products. High-rise investments in the building and construction sector along with numerous renovation and expansion activities initiated on existing infrastructure is likely to accelerate the demand for architectural coatings.
Moreover, increasing production and exports of coating products in the U.S. could aid regional industry expansion. For instance, coating export from the U.S. was reportedly valued around USD 1.85 billion, accounting for two-thirds of the total industry exports. Moreover, development of new coating and paint formulation with reduced particle size distribution and nanoparticle concentration is anticipated to stimulate nano zinc oxide market size in the paints and coatings industry.
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The electronics industry is also accounting a noteworthy share in the nano zinc oxides market. The industry primarily opts for nano zinc oxide nanosheets owing to the product’s larger surface area and improved crystallinity. Increasing R&D activities and development of zinc oxide nanostructures and nanomaterials blends could accelerate product traction this industry.
Nano zinc oxides have some remarkable properties, like the ability to trigger reactive oxygen species (ROS) with the release of zinc ions which support product usage in anticancer and antibacterial fields. However, toxicity concerns associated with the use of nano zinc could hamper market growth. Upsurge production of nano ZnO could also result in increased environmental release through domestic as well as industrial wastewaters, which may thereby restrain industry growth.
Prominent industry players operating in global nano zinc oxides market are increasing focused on offering high-quality, cost-effective products with the help of advanced processing technologies. Easy availability of products that offer features like anti-microbial and UV protection has strengthened the network of distributors and suppliers. Companies are also trying to expand their consumer base. For instance, in 2019, Advance NanoTek announced an extension of its production facility with the launch of its Australian plant in Brisbane to establish itself as frontrunner zinc oxide products in the industry.
Author Name : Abhijeet Kakade