Zinc Oxide Nanoparticles Market
Zinc Oxide Nanoparticles Market By Grade (Coated (Surface Treated), Uncoated), By Production Method (Direct Method, Indirect Method ), By Application, By Function - Global Mraket Forecast 2020-2026
Global Zinc Oxide Nanoparticles Market Size and Growth:
The global zinc oxide nanoparticles market is poised to embark on a positive growth trajectory, expanding at a CAGR of ~7% during the forecast period (2020-2030). With the efficacy to offer broad spectrum protection in sunscreens against UVA and UVB (in the range of 320–400 nm), zinc oxide nanoparticles have emerged as the best choice of UV filters among sunscreen manufacturers.
Impressive protection against pre-mature skin aging such as wrinkling and uneven pigmentation coupled with prevention against skin cancer have driven the consumption of zinc oxide nanoparticles in recent years. Further, its compatibility with other metal oxides such as titanium dioxide to improve UVB protection and to increase the sun protection factor will fuel the demand for zinc oxide nanoparticles.
Zinc Oxide Nanoparticles Market Research by Application
Increasing concern around solar radiations and their side effects such as pre-mature skin aging, immune system suppression, and cancer have pushed consumers towards the usage of sunscreen products.
The highly beneficial zinc oxide nanoparticles properties make it an ideal ingredient in cosmaceutical applications. Consequently, these have become a part of daily use, personal care products and color cosmetics.
Zinc oxide nanoparticles, being a natural broad spectrum UV filter, have become an ideal ingredient in sun care products. For instance, according to BASF, in the last five years, products launched using zinc oxide nanoparticles in North America were 90% sun care products.
Zinc Oxide Nanoparticles Market Research by Region
In East Asian countries, zinc oxide nanoparticles applications include skin care products which are used for tanning prevention, skin whitening and premature skin aging. Based on these trends, UV filters are being increasingly used across a range of skin care products, such as BB creams, makeup products, day creams, color cosmetics and lipsticks.
On the back of this scenario, the East Asia zinc oxide nanoparticles market is projected to experience an impressive growth rate of ~8% over the forecast period. However, North America is poised remain the leading consumer of zinc oxide nanoparticles accounting for over one third of the market share by 2030.
Zinc Oxide Nanoparticles Market Manufacturers – Key Strategies
The global zinc oxide nanoparticles market is partially consolidated in nature, in which the top six players accounted for over one third of the global production in 2019. ALTANA, EverZinc, BASF, Tata chemicals Ltd. are the key stakeholders. Under a targeted strategic approach, prominent players like BASF, ALTANA and Hakusui Tech Co., Ltd. have been involved in acquisition, production capacity expansions, and product launches in new markets.
Further, new entrants have made significant investments and focused on ramping up production lines to penetrate in the zinc oxide nanoparticles market. For instance, in 2019, EverZinc expanded its production capacity in Netherlands and BYK expanded its roots by opening up new business divisions in Shanghai.
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COVID-19 Impact Insights
The COVID-19 pandemic has brought the entire world to its knees. The number of fatalities arising out of the pandemic is increasing exponentially every day. In response, strict social distancing measures have prompted people to remain indoors and limit their interaction with the outside world. As a consequence, various businesses have experienced massive supply-chain disruptions in the wake of halted production.
This also applies to the zinc oxide nanoparticles market. With people being confined to their homes, the demand for cosmetic products has fallen. This has restricted the application of zinc oxide nanoparticles as raw materials as production of cosmetic products itself has fallen. This is expected to hamper the market’s growth.
North America is a leading consumer of zinc oxide nanoparticles, accounting for nearly one third of the global consumption in 2019. At present, the United States is the worst affected region by the coronavirus outbreak with the region accounting for over one third of the global COVID-19 confirmed cases. Analyzing the current scenario, North America may take a long time to recover, impacting the near-term growth of the zinc oxide nanoparticles market.
In contrast, East Asia is less impacted, with the rate of recovery being significantly higher. In spite of this, the pandemic is not anticipated to subside anytime soon, meaning that the global economic meltdown is anticipated to continue through 2020. This is anticipated to significantly impact sales of zinc oxide nanoparticle based products throughout the year.
“Uncertainties related to the COVID-19 outbreak will restrict the growth of the global zinc oxide nanoparticles market in the midterm (2019-2024) forecast. The market is likely to surge in the aftermath”, says the Fact.MR analyst.
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About the Report
Fact.MR published an exclusive forecast report for zinc oxide nanoparticles market between 2020 and 2030. The foremost objective of this report on zinc oxide nanoparticles market is to pitch spearhead insights on market scenario, demand generators and technological advancements in the zinc oxide nanoparticles market. Also, the study on zinc oxide nanoparticles market addresses key dynamics, which are expected to diversify the sales and future prominence of zinc oxide nanoparticles market.
The report on zinc oxide nanoparticles market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of zinc oxide nanoparticles market elaborating on the key segments. Also, the report outlines visionary insights on dynamics zinc oxide nanoparticles market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for zinc oxide nanoparticles.
Supply chain analysis and pricing analysis of zinc oxide nanoparticles market along with the difference between zinc oxide nanoparticles used as per applications have also been included in the report to help the readers clearly understand the product framework map in zinc oxide nanoparticles market.
Zinc Oxide Nanoparticles Market: Segmentation
Fact.MR has segmented the zinc oxide nanoparticles market on the basis of production method, grade, function, application, and region.
By Production Method :
- Direct Method (French Process)
- Indirect Method (American process)
By Grade :
- Coated (Surface Treated)
By Function :
- UV Shielding Agent
- Antibacterial and Antifungal Agent
- Plastic Cross-linking Agent
By Application :
- Cosmetics & Personal Care
- Sun Care
- Skin Care
- Color Cosmetics
- Paints & Coatings
- Polymers & Textiles
By Region :
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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