A recent study conducted by the strategic consulting and market research firm; BlueWeave Consulting revealed that the global metal nanoparticle market was worth USD 16,462.5 million in 2021. The market is further anticipated to reach USD 30,953.6 million in 2028 at a significant CAGR of 10.2% during the forecast period, i.e., 2022-2028. The growing demand for gold nanoparticles in the pharmaceutical & healthcare industry, along with the expanding application areas for metal nanoparticles, are expected to drive the global metal nanoparticles market. Besides, the speedy growth of the healthcare sector is another factor driving the demand of the global metal nanoparticles market. Also, the growing government support and funding for metal nanoparticles, coupled with the increasing demand for innovative drugs and targeted diagnoses & therapeutics is driving the development of new and advanced materials.
Growing Popularity of Gold Nanoparticles in Various Healthcare Sectors
Pharmaceutical companies are looking at gold nanoparticles as a possible non-toxic carrier for drug delivery. Advanced properties of gold nanoparticles include an extensive surface-to-volume ratio, customizable charge, hydrophilicity, and functionality through surface chemistries, which support the demand for gold nanoparticles in the pharmaceutical industry. Additionally, conventional gold nanoparticles with other gold nanoparticle types, such as nanorods, nanoshells, nanocages, and nanostars, are increasingly used in optical microscopy, which drives the growth of the global metal nanoparticles market. In April 2021, Sona Nanotech, a leader in gold nanoparticles integration in healthcare, announced a collaboration with the Institute of Biomedical Engineering at the University of Toronto to research gold nanorod's leading attributes. As investment in healthcare sectors and technologies advance further, the growing demand and application of gold nanoparticles are expected to propel the global metal nanoparticles market forward.
Ill-effect of Metal Nanoparticles on Environment Anticipated to Impede The Market Growth
Various metallic nanoparticles, like silver and gold, can benefit the environment; however, a number of other nanoparticles have ill effects on the environment. For instance, titanium dioxide nanoparticles, which are a major component of sunscreen, have the potential to harm marine life. Various studies have also shown that aluminum nanoparticles have an adverse effect on the growth of plants' roots. Moreover, Nickel oxide nanoparticles also have a negative impact on marine life. Therefore, the ill effects of metal nanoparticles in the environment are expected to restrict the growth of the global metal nanoparticles during the forecast period.
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Impact of COVID-19 on the Global Metal Nanoparticle Market
The pandemic led to nationwide lockdowns worldwide, starting with European countries. The lockdown created disruptions across the entire supply chain, and companies operating in the metal nanoparticles market were affected severely. Furthermore, metals prices soared to new heights in 2020 amid pandemics. The prices of iron ore and copper soared significantly while zinc and nickel prices became highly volatile. In addition, aluminum prices hit a 17-month high in October 2020 and are on the rise again in 2021, Additionally, with China battling an energy crisis and natural gas prices rising, titanium prices also rose in 2020 because of scrap shortages and a tight supply.
Moreover, the second wave of the COVID-19 halted the market's recovery towards the end of 2020, and with the currently ongoing freight shortage, energy crisis, growing prices of natural gas, and rising cases of Omicron variant, the global metal nanoparticle market is expected to take some time before reaching pre-pandemic levels.
The Pharmaceutical & Healthcare Segment is Expected To Grow at a Highest CAGR During the Forecast Period
Based on the end-use industries, the pharmaceutical & healthcare segment is predicted to be the fastest-growing sector in the global metal nanoparticles market during the forecast period. The segment’s growth can be attributed to its utilization of image-guided in-vivo therapies and in-vitro techniques to detect variations in organs and tissues. Additionally, the introduction of new and advanced materials, due to the growing demand for innovative drugs and target-specific diagnostics & therapeutics, is propelling the market for metal nanoparticles.
Asia-Pacific will Dominate the Global Metal Nanoparticles Market during the Forecast Period.
The global metal nanoparticles market has been analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Due to the flourishing end-user segments, such as electronics & semiconductors, and healthcare, the Asia Pacific region is predicted to account for the largest revenue share in the global metal nanoparticles market throughout the forecast period. On the other hand, with a well-developed healthcare industry, North America has held the lion's share of the market in the past and will continue to dominate in the future.
Global Metal Nanoparticle Market - Competitive Landscape
The key players in the global metal nanoparticle companies are American Elements, B.B.I. Group, Eprui Biotech Co. Ltd., Meliorum Technologies Inc., NanoComposix, Nanocs Inc., Nanoshel LLC, Nanostructured & Amorphous Materials Inc., Strem Chemicals Inc., Tanaka Holdings Co. Ltd., U.S. Research Nanomaterials Inc., BlackTrace Holdings Ltd., Nanophase Technologies Corporation, Cytodiagnostics Inc., Sigma Aldrich, Hongwu International Group Ltd., BASF SE, Cerion LLC, Ames Goldsmith Corporation, Advanced Nano Products Co Ltd., Plasmachem GmbH, and other prominent players. In light of the numerous concerns regarding the quality of nanomaterials, it becomes imperative to incorporate technologies that deliver accurate and granular results to satisfy the needs of the market. As a result, major players have started incorporating Industry 4.0 techniques for improving their market share. In addition to this, the market has been witnessing a large number of acquisitions over the past years, with three acquisitions conducted in 2021 alone, indicating a growing level of competition in the market.
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