WILMINGTON, DE / ACCESSWIRE / December 2, 2022 / Transparency Market Research Inc. - The global Molybdenum Trioxide Nanopowder Market is projected to rise at a CAGR of 13.5% during the forecast period, 2022 to 2031. Because of their high oxidation state and uncommon layered structure, (MoO3) nanoparticles are used in a variety of applications. It has advantageous electronic and optical properties, which further propels the Molybdenum Trioxide Nanopowder Market demand.
As per the molybdenum trioxide nanopowder industry trends, the increasing demand for renewable sources of energy and power is boosting the growth of this market. The rising use of electrochemical energy for sustainable energy is projected to augment the molybdenum trioxide nanopowder growth in the forecast period.
The increasing use of molybdenum trioxide nanopowder in catalysts for the manufacture of multiple chemicals will aid in the expansion of this market in the forecast period. Catalysts help to reduce toxicity, the time needed for a reaction to produce chemicals, and pollution, and thus, they are currently in high demand. The rise in awareness about pollution control and government measures to control or reduce pollution levels are expected to increase the Molybdenum Trioxide Nanopowder Market demand in the future.
The global Molybdenum Trioxide Nanopowder Market is projected to rise from a revenue of US$ 1.6 Bn in 2021 to reach a value of US$ 5.3 Bn by the end of 2031.
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Key Findings of Study -
Increasing Need for High-Energy Capacitors Will Boost Demand: molybdenum trioxide nanoparticles provide high potential in the creation of high-energy capacitors. They are also used for the production of supercapacitors that are also used for energy storage in the renewable energy industry. Carbon such as graphene can be installed with MoO3 nanoparticles for use as an organic electrolyte for high-energy lithium-ion capacitors. Such uses will boost the demand for MoO3 in the future market.
Increasing Demand for Electronic Devices Will Drive Growth: Electrochemical storage of energy systems has the ability to make significant contributions to achieving sustainable energy. They release energy in the form of electricity and are used for absorption and storage purposes. As a result, the demand for portable, and flexible electronics and electricity storage devices, will increase sales of fuel cells and supercapacitors. The use of molybdenum trioxide nanopowder in these devices will automatically promote the growth of this market in the future.
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Key Drivers -
Energy storage systems are critical for storing renewable energy. They also help with the efficient integration of renewable energy into the grid. Increased investment in renewable energy is anticipated to help achieve the surge in global energy demand. Thus, heavy investments in molybdenum trioxide nanopowder manufacturing units from the renewable energy sector will bolster the growth of this market.
Regional Growth Dynamics -
North America emerged dominant in 2021 with a 35.6% share in the market and will further grow at a CAGR of 14.2% during the forecast period. The presence of major manufacturing industries such as glass, chemicals, textiles, ceramics, and others and the high demand for MoO3 to use in various applications will help this regional market flourish.
Asia Pacific market will witness rapid growth in the forecast period on account of the increasing demand from the healthcare and personal care industries as well as the electronics sector.
Key Players -
Some of the key molybdenum trioxide nanopowder manufacturers include Merck KGaA, American Elements, US Research Nanomaterials Inc., Shanghai Theorem Chemical Technology Co. Ltd., Hunan Fushel Technology Ltd., SAT Nano Technology Material Co. Ltd., Nano Research Elements Inc., Novarials Corporation, Edgetech Industries LLC, Skyspring Nanomaterials Inc., Nanografi Nano Technology, Nanoshel LLC., and others.
Molybdenum Trioxide Nanopowder Market Segmentation -
Automotive and Transportation
Middle East and Africa
Russia & CIS
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