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"Global Nanosilver Market was Valued at US$ 1.65 Bn in 2019 and it is Expected to Reach More than US$ 6.37Bn by 2028, Likely to Grow with the CAGR of 16.2% During the Forecast Period."
Nanosilver is silver particles ranging from 1nm to 100nm in size. Its small particle size, large surface area, excellent antibacterial and conductive properties are attributed in a variety of applications such as electronics, cosmetics, medical, pharmaceuticals, pesticides, textiles, plastics, food & beverages, packaging, paints & coatings, water treatment, and detergents. The emerging application areas where research efforts are underway are again in the fields of medicine and a few in the area of conductive applications.
The Industrial Silver Demand From Various End-Use Industries Is Anticipated To Drive The Global Nanosilver Market Growth Over The Forecast Period
Growing antimicrobial applications in the pharmaceutical and medical sectors coupled with the Increasing use in consumer electronics are expected to result in market growth.80% of Nanosilver is presently used as an antibacterial agent as the Nano Silver exhibits antibacterial as well as conductive properties. Thus, it finds use in various applications, ranging from healthcare, plastics, food packaging while the conductive properties make it find application in electronics, conductors, and touch screens, etc.
However, silver price fluctuation, high product cost as compared to silver coupled with huge investments for production technology development expected to restrict market demand over the forecast period.
The Electronics Application Segment Is Expected To Dominate The Nanosilver Market During The Forecast Period
Electronics application was the largest segment, valued over US$ xx million and accounted for over 35% of the global revenue share of the Nanosilver market in 2019 and this trend is expected to remain unchanged the forecast period.
North America is expected to be a key region witnessing high nanosilver demand from growing electronics and electrical industries. The Asia Pacific is also expected to witness significant growth in electronics applications owing to upcoming electronics manufacturing facilities in China and South Korea coupled with high demand for these products globally.
The consistent advancement in the electrical & electronics industry resulted in replacing conventional silver applications with the Nanosilver. For instance, Nanosilver is used in manufacturing Radio Frequency Identification (RFID) tags which are capable of storing larger amounts of data than bar codes. In addition, Nanosilver finds applications in supercapacitors that are extensively utilized in grid disturbances, hybrid buses, etc. which will help achieve prominent gains in the electrical & electronics industry for nanosilver market size over the forecast period.
The Biological Mode of Synthesis is Expected to Witness Highest Growth in the Global Nanosilver Market Across the Globe
The Biological mode of synthesis is projected to grow at the highest rate in the Nanosilver market during the forecast period. This segment accounted for xx% share in the global Nanosilver market owing to the fact that it's a green mode which allows production in aqueous condition with low energy requirements and low cost. The bio-organisms act as reducing and capping agents for product synthesis with low polydispersity and good yield over 55% in this mode.
While the Chemical reduction mode of synthesis is anticipated to be the highest share and is likely to grow at a significant CAGR over the forecast period. In this mode, the product is prepared as stable and colloidal dispersion in organic solvent or water. Silver ions are reduced with various complexes which are followed by accumulation into clusters which subsequently forms colloidal silver particles. Reducing agents, for instance, In the production of nanosilver particle Chemicals such as hydrazine, sodium borohydride, formaldehyde, etc are used to reduce silver-containing salt.
The North America Is Expected to Dominate the Nanosilver Market During the Forecast Period
The North America region emerged dominant in the global market was valued over USD$ xx millions and holding a share of more than 40% in 2019 and this trend is expected to continue over the forecast period. North America has been exhibiting the most lucrative prospects for nanosilver sales owing to the consistent technological advancements in consumer electronics to meet rapidly changing consumer preferences in the region. In addition, the healthcare industry will majorly contribute to the rising demand for nanosilver in North America.
The market in Europe expected to hold a significant share in the nanosilver market over the forecast period. The exponential growth in the electrical and electronics industry in Europe has been attracting the most prominent vendors of nanosilver. The rising food and beverage market in the region is also expected to boost sales of nanosilver considerably.
The Asia-Pacific Region Is Projected to Register a Highest Growth in the Nanosilver Market during the Forecast Period
The Asia Pacific region the second-largest share in the overall market and is expected to be the fastest-growing region at a CAGR of over16 % during the forecast period.
The rising product demand across several end-user industries including electrical & electronics, food & beverage, healthcare, textile, water treatment and personal care industry in the region is driving the demand for Nanosilver in the regional market. For instance, Nanosilver finds extensive applications in treatment, diagnosis, drug delivery, medical device coating, and personal health care owing to its anti-microbial properties. The High production capacities of the consumer electronics industries in South Korea and China have proven extremely profitable for the regional market.
Global Nanosilver market is consolidated with key players holding major share of global Nanosilver market.Some of Key players operating in the global Nanosilver market are Advanced Nano Products, Ames Goldsmith Corporation, Applied Nanotech Holdings, Bayer MaterialScience, Creative Technology Solutions, Nano Silver Manufacturing, NovaCentrix, NanoMas Technologies and Silvix.
Nanosilver Market Key Segments:
Nanosilver Market, By Mode of Synthesis
- Chemical reduction
- Biological synthesis
- Physical synthesis
Nanosilver Market, By
- Electrical & electronics
- Food & beverages
- Water treatment
- Others (Including personal care, detergents, etc.)
Nanosilver Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America