The scope of “The Insight Partners” recent study on the “Metal Nanoparticle Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Metal (Gold, Silver, Iron, Platinum, Titanium, and Others) and End-Use Industry (Pharmaceutical and Healthcare, Electrical and Electronics, Chemical, Personal Care and Cosmetics, and Others),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The metal nanoparticle market was valued at US$ 25,373.92 in 2020 and is projected to reach US$ 81,567.38 by 2028; it is expected to grow at a CAGR of 15.9% from 2021 to 2028. Metal nanoparticles are basically engineered materials and their size ranges from 10 to 100nm. Metal Nanoparticles have exceptional properties such as high aspect ratio and uniform size. They are used in a wide spectrum of applications, such as catalysis, medical, and energy storage.
The metal nanoparticles are made from nanoscale matters consisting of both organic and inorganic materials combined with different metals. The metal component plays an important role in their application as green catalysts, which is attributed to their larger surface-area-to-volume ratio than the bulk material. There has been an increase in focus for the development of green catalysts that are eco-friendly and re-usable, which helps in minimizing waste; moreover, these catalytic materials are considered indispensable. Metal nanoparticles with high surface areas and more active sites increase the rate and yield of reactions. Gold nanoparticles are used in various chemical reactions as a catalyst. The surface of gold nanoparticles can be used for selective oxidation. Platinum nanoparticles, which have high dispersibility and catalytic activity, are widely being used in electrocatalytic oxidations in fuel cells. Applications of copper nanoparticles in nanotechnology include catalytic organic transformation, electrocatalysis, and photocatalysis. Thus, the increasing use of metal nanoparticles as catalysts with the growing popularity of green catalysts is driving the metal nanoparticles market.
Based on end-use industry, the global metal nanoparticles market is segmented into pharmaceutical and healthcare, electrical and electronics, chemicals, personal care and cosmetics, and others. The pharmaceuticals and healthcare segment held the largest market share in 2020. Metal nanoparticles have various applications in the pharmaceutical and healthcare sector such as their use as therapeutic agents as well as in drug delivery, bioimaging, and cancer treatment and diagnostics. Many countries across the world are researching on metal nanoparticles that can be applied for cancer treatment. Along with this, the use of gold nanoparticles in the COVID-19 antibodies test kits is driving the demand for metal nanoparticles in the pharmaceutical and healthcare sector.
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Based on metal, the global metal nanoparticles market is segmented into gold, silver, iron, platinum, titanium, and others. Based on end-use industry, the market is segmented into pharmaceutical and healthcare, electrical and electronics, chemical, personal care and cosmetics, and others. By geography, the global metal nanoparticle market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America comprises countries such as the US, Canada, and Mexico. Europe constitutes Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific consists of China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. Middle East & Africa (MEA) comprises South Africa, Saudi Arabia, the UAE, and the Rest of MEA. South America constitutes Brazil, Argentina, and the Rest of South America.
Impact of COVID-19 Pandemic on Metal Nanoparticle Market
The ongoing COVID-19 pandemic has impacted the metal nanoparticles market. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, which has created revenue loss and damage. The disruptions in the production and supply chain have had a negative impact on the metal nanoparticles market. The implementation of lockdown in various countries along with travel restrictions has lessened the global supply of products along with a reduced logistic operation. Research has been ongoing for the utilization of gold nanoparticles for COVID-19 testing kits, which will provide the results in minutes. In the US, a group of researchers at the University of Maryland claimed that they have developed a diagnostic test that can detect the novel coronavirus that causes COVID-19 within 10 minutes and the results will be visible with naked eyes. Along with this, Sugentech, Inc. (a company in Republic of Korea) developed SGTi-flex COVID-19 IgM/IgG test kit, which is a gold nanoparticle-based immunochromatographic test kit that determines COVID-19’s IgM and IgG antibodies. The test helps in determining the antibodies that are specific proteins, which are developed in response to the infection. Thus, an increased usage of gold nanoparticles in the healthcare sector is having a positive impact on the metal nanoparticles market.
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