The development of diluted magnetic semiconductors (DMS) that combine magnetic properties with semiconducting behavior is a promising area of research that could lead to the creation of entirely new types of devices that are faster, more efficient, and potentially cheaper. In this investigation, DMS nanocompositions represented by V0.05-XCoxZn0.95O, (x = 0.01, 0.02, 0.03, 0.04, 0.05) were synthesized via a modified Pechini-sol-gel process. X-ray analysis showed a successful incorporation of V and Co ions into ZnO structure. The size and shape of the nanoparticles changed depending on the V/Co doping percentage. The addition of the blend of 2 wt% V and 3 wt% Co ions significantly reduced the particle size from 21 nm to 14 nm. The X-ray photoelectron analysis identified complex interactions between vanadium/cobalt dopants and the surrounding ZnO lattice with significant influence of cobalt incorporation on vanadium's oxidation state. It further revealed a significant influence of cobalt incorporation on vanadium’s oxidation state. Vanadium primarily exists as V3+ upon vanadium-mono doping (ZV5). However, co-doping with Co/V leads to a shift towards the V5+ state. Enhanced absorption extending into the visible light region was observed in either mono or (V/Co) co-doped samples. Notably, the band gap energy decline was more pronounced in the 5 mol% Co-doped ZnO, recording a value of 2.58 eV. An additional band gap around 1.8 eV appeared in Co-doped samples, potentially due to transitions in Co2+ ions. The combination of V and Co induced a ferromagnetic behavior with fully saturated order. The ZV3C2 composition exhibits the most promising characteristics, boasting the highest saturation magnetization (1.037 emu/g). Accordingly, robust ferromagnetism of V0.05-XCoxZn0.95O, (x = 0.01, 0.02, 0.03, 0.04, 0.05) nano-particles is a promising approach for spintronic applications.
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