According to the latest research report published by The Insight Partners, titled “Nanocopper Oxide Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by End User,” the nanocopper oxide market size was valued at US$ 75.9 million in 2018 and is projected to reach US$ 251.1 million by 2027; it is expected to grow at a CAGR of 14.4% from 2019 to 2027. The projected growth of the market during the forecast period is attributed to the increase in demand for electrical equipment.
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Nanocopper oxide is a reddish or brownish-black nanoparticle used as catalyst in chemical industry. Various properties such as toughness along with ductility, better strength, and high electrical conductivity which make them ideal for diversified industrial applications. Further, research on such nanoparticles is gaining momentum. Therefore, rising R&D activities in the past few years by several research institutions, centers, and industries are driving the growth of the market.
Increasing Demand For Nanocopper Oxide Market
There has been exponential increase in the demand for electronic equipment for various purposes. The growing demand is attributable to advancement in technologies along with rise in investment in R&D in order to come up with new and improvised devices. Rise in population with increased disposable income has led to increase in the demand for electrical and electronic components. The growth of the electrical industry is further backed by the advancement and adoption of nanotechnology, which has reshaped the scope of modern science and technology.
Some of the companies competing in The Nanocopper Oxide Market are
- American Elements
- Hongwu International Group Ltd
- nanoComposix
- Inframat Corporation
- Nanoshel LLC
- Nanostructured & Amorphous Materials, Inc.
- Plasmachem Gmbh
- SkySpringNanomaterials Inc
- Strem Chemicals Inc.
- US Research Nanomaterials, Inc.
Nan copper oxides are manufactured for specific end use and exhibit superior quality over copper oxide with absolutely different physical properties. Copper oxide nanoparticles (CuO NPs) are being increasingly deployed in the production of several electrical and electronic equipment owing to the low cost of production associated, along with thermal stability, suitable photovoltaic properties, stability, and superconductivity. These materials exhibit superior electrical, mechanical, catalytic, and optical properties, which make them ideal to be used in the production of several electronic devices such as smart phones, laptops, and tablets. CuO NPs possess strong superconductive features, making them suitable to be used in many different consumer electronics such as gas sensors, batteries, and solar cells. They are widely being deployed in heat transfer fluids, microelectronics, and other electronic devices. Other than this, they are used to produce nanocopper oxide, which is mainly used in conductive coatings in electrical and electronic applications.
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