India Nano Gold Market is Expected to Reach $499.7 Million by 2027

According to a new report published by Allied Market Research titled, “The India Nano Gold Market by Type, Diameter Size, Application and End User: Country Opportunity Analysis and Industry Forecast, 2020–2027,” the India nano gold market size was valued at $201.4 million in 2019, and is projected to reach $499.7 million by 2027, growing at a CAGR of 17.0% from 2020 to 2027. Nano gold materials/particles are ultra-fine particles of gold ranging from 5 nm to 500 nm and manufactured from chloroauric acid. Nano gold materials or particles are used in various applications including sensors, catalysts in chemical reactions, fuel cell applications, and in the diagnosis of heart diseases, cancers, and others. Some of the advantages of nano gold are chemical stability, easy functionalization, biocompatibility, solubility, and others.

The key factor driving the growth of the India nano gold market is rapid growth of electronics, healthcare, and chemical industries in the country. Furthermore, rise in demand for consumer electronics products in the region is expected to fuel the demand for electronic chips, sensors, and others used in manufacturing of electronics products; thereby, driving the growth of the market during the forecast period. In addition, rise in use of gold nanoparticles in medical and biological applications is anticipated to fuel the growth of the market during the analyzed time frame. However, the concerns regarding the impact of nano gold products on human health and the environment and stringent government environmental regulation are some of the factors hindering the market growth in India.

Depending on type, the water-soluble segment held the highest India nano gold market share of around 43.2% in 2019, and is expected to maintain its dominance during the forecast period. This is owing to increase in use of water -soluble gold nanoparticles in the applications including spin coating, self-assembly, and monolayer formation. 

By diameter size, the less than 40nm segment held the highest market share of around 54.2% in 2019, and is expected to maintain its dominance during the forecast period. This is owing to rise in demand for gold nanoparticles with diameter size less than 40 nm from applications such as drug delivery, energy-related devices, surface-enhanced Raman labels, sensing/detection, biological targeting, plasmonic, and electronics applications in the country.

Depending on application, the in vitro diagnostics segment held the highest market share of around 21.9% in 2019, and is expected to maintain its dominance during the forecast period. This is owing to rise in demand for in vitro diagnostics (IVD) instruments from applications, including bedside diagnostic tests, in-home tests, and bio emergency response. In addition, increase in use of IVD instruments in clinical labs or by isolated village health service providers is anticipated to fuel the demand for nano gold in the upcoming years.

On the basis of end user, the healthcare segment holds the largest market share, in terms of revenue, and is expected to maintain its dominance during the forecast period. 

This growth is attributed to rise in demand for gold nanoparticles from healthcare applications such as therapeutics, diagnostics, antibiotics, and antigens in India during the forecast period. In addition, improvements in medical imaging and nano medicines are fueling the demand for nano gold, which in turn is projected to propel the market growth in the coming years.

India nano gold market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include Aritech Chemazone Pvt Ltd, Nanocomposix, Blacktrace Holdings Ltd, Mincometsal, Indian Platinum Private Limited, MERCK KGaA, Nano Labs, Nanoshel LLC, Techinstro, and Thermo Fisher Scientific.

Other players operating in the value chain of India nano gold market are Nano Research Lab, Nano Research Elements, Nanorex, Nanopartz, Inc., and others.

Covid-19 Impact On The Market

The India nano gold market is anticipated to witnessing steady and sluggish growth for the year 2020, owing to the outbreak of the COVID-19 pandemic. The outbreak has negatively impacted various industries across the country. In addition, ongoing projects from various industries such as construction, manufacturing, and others are on hold or cancelled, which has affected the sales of electronics devices and others. This further resulted in restraining the growth of the nano gold market till the effect of pandemic becomes less. However, rapid vaccination across the country is expected to lower the effect of pandemic. Thus, it is estimated that step-by-step end of the lockdown and rapid vaccination will boost the economy, which in turn is expected to fuel the nano gold market in India in the upcoming years.

Key Findings Of The Study

• In 2019, the water-soluble segment accounted for around 43.2% of the share in India nano gold market, and is expected to maintain its dominance till the end of the forecast period.
• In 2019, the less than 40 nm segment is accounted for 54.2% market share in 2019, and is anticipated to grow at a rate of 18.1% in terms of revenue, increasing its share in India nano gold market.
• In vitro diagnostics is the fastest-growing application segment in India nano gold market, expected to grow at a CAGR of 19.5% during 2020–2027.
• In 2019, the healthcare segment dominated India nano gold market with more than 48.3% of the share, in terms of revenue.