North America Nanocopper Oxide Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By End User; and Country

The Nanocopper oxide market was valued at US$ 26,527.3 thousands in 2018 for North America and is projected to reach US$ 85,892.9 thousands by 2027; it is expected to grow at a CAGR of 14.1% from 2019 to 2027.

Nanocopper oxide is a red or brown to black nanomaterial available in various forms and is used to meet the needs of the diversified user base. These nanoparticles possess several chemical and physical attributes including antimicrobial and antibiocide properties, photovoltaic properties, relatively stability, and superconductivity. They are generally used in small quantities to boost the performance of the end product; they are also considered to be cost-efficient advanced solutions. The nanonparticles are, therefore, used to manufacture batteries, semiconductor devices and equipment, gas sensors, microelectronics, and other equipment. Extensive research and development activities in the field of nanotechnology have paved the way for the application of these nanoparticles in biomedical, agricultural, textile, and other relevant industries.

The nanocopper oxide market, based on end user, has been segmented into electrical and electronics, paints and coatings, catalysts, energy storage, and others. In 2018, the electrical and electronics segment accounted for the largest share of the North America nanocopper oxide market; the paints and coatings segment is expected to register the highest CAGR during the forecast period. Advancement in the physical scale and cost of computing power system have permitted devices geared at a customer market to carry substantial onboard processing proficiency. Sequentially, low cost has urged mass adoption of handheld and smaller computing products using specialty materials such as nanocopper oxide. Smartphones, technically a replacement for landlines, offer the widest variety of functions and facilities, though function-specific products with onboard computing. Wearables, including fitness monitors and other smart products; and smart sensors and controls for the home, including computerized thermostats, have seen delivery numbers more than triple y-o-y. Nano-scale innovations are playing a noteworthy role in future consumer devices. Moreover, nanocopper oxide enables the possibility of the low-cost production of flexible, transparent, and lightweight devices.

The nanocopper oxide market in North America has been segmented into the US, Canada, and Mexico. The US held the largest share of the market in 2018, followed by Canada and Mexico, respectively. In North America, nanocopper oxide is extensively used in industries such as construction, paint and coatings, energy & power, electrical and electronics, and chemicals & materials. Copper is one of the popular raw materials used in the construction industry. It is used in the manufacturing of water pipes, while it is also popular as a roofing material due to its resistance toward extreme weather conditions. Besides its wider application in the form of copper coinage, nanocopper oxide - a biocidal agent - is currently most widely used among various industries. In the paint and coatings industry, the nanocopper oxide is applied in antifouling paints for ships. It also prevents the growth of microorganisms such as fungi and algae, and ships can theoretically save up to 40% fuel. For the preventive wood preservatives, most of the industries take used this biocidal.

American Elements; Inframat Corporation; nanoComposix; Nanoshel LLC; Nanostructured & Amorphous Materials, Inc.; SkySpring Nanomaterials Inc.; Strem Chemicals Inc.; and US Research Nanomaterials, Inc., are among the major players in the North America nanocopper oxide market.The COVID-19 pandemic, which first began in Wuhan (China) in December 2019, has spread at a fast pace worldwide. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are a few of the worst-affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures, there are ~7,127, 753 confirmed cases and 407, 159 total deaths globally. The outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals & materials is one of the major industries suffering serious consequences such as supply chain disruptions, technology events cancellations, and office shutdowns. The US has reported the highest number of confirmed COVID-19 cases in the region. The lockdown of various plants and factories in the US is affecting the global supply chains and negatively impacting the manufacturing and delivery schedules, and electronic goods sales. All these factors are likely to limit the growth of the chemicals & materials industry in North America in the coming months.

The overall North America nanocopper oxide market size has been derived in accordance to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the nanocopper oxide market.

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