Report : Asia Pacific Metal Nanoparticles Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Metal (Platinum, Gold, Silver, Iron, Titanium, and Others) and End-Use Industry (Pharmaceutical and Healthcare, Electrical and Electronics, Chemicals, Personal Care and Cosmetics, and Others)
Pharmaceutical and Healthcare Segment to Dominate Asia Pacific Metal Nanoparticles Market during 2021-2028
According to a new market research study on “Asia Pacific Metal Nanoparticles Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Metal, End-Use Industry and Country,” is expected to reach US$ 28,300.73 million by 2028 from US$ 9,164.25 million in 2021. The market is estimated to grow at a CAGR of 17.5% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific metal nanoparticles market along with the drivers and restraints pertaining to the market growth. Wide application scope of metal nanoparticles in medical industry and rise in the use of metal nanoparticles in the form of catalysts are major factors driving the growth of the Asia Pacific metal nanoparticles market. However, unfavourable impacts of metal nanoparticles on environment and ecosystems along with high costs and complexities involved in manufacturing may hinder the growth of Asia Pacific metal nanoparticles market.
In Asia Pacific, India reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including metal nanoparticles manufacturing activities. However, various research has been ongoing for the utilization of gold nanoparticles for COVID testing kits, that will provide the results in a matter of minutes. A group of researchers claims that they have developed a diagnostic test that can detect the SARS-CoV-2 (causative agent of COVID-19) within 10 minutes of test and the results will be visible to naked eyes. The test is a simple colorimetry-based assay that uses gold nanoparticles that are capped with the nucleic acid sequence of the nucleocapsid phosphoprotein of the virus. The test is based on the determination of specific antibodies that are developed in response to the infection. Thus, a surge in the use of gold nanoparticles in the healthcare sector, particularly in the development of rapid COVID-19 test kits, is boosting the metal nanoparticles market.
The market for Asia Pacific metal nanoparticles is segmented into metal, end-use industry and country. Based on metal, the market is segmented into platinum, gold, silver, iron, titanium, and others. In 2020, the gold segment held the largest share in Asia Pacific metal nanoparticles market. Based on end-use industry, the Asia Pacific metal nanoparticles market is divided into pharmaceutical and healthcare, electrical and electronics, chemical, personal care and cosmetics, and others. The electrical and electronics segment is expected to be the fastest growing segment over the forecast period. Based on country, the Asia Pacific metal nanoparticles market is divided into Australia, China, India, Japan, South Korea and rest of Asia Pacific. In 2020, China held the largest share in Asia Pacific metal nanoparticles market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific metal nanoparticles market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for metal nanoparticles.
American Elements; BBI Group; EPRUI Biotech Co. Ltd., Meliorum Technologies, Inc.; NanoComposix; Nanosc, Inc.; Nanoshel LLC.; and TANAKA Holdings Co., Ltd. are some of the leading companies in the Asia Pacific metal nanoparticles market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.