Nanosilver market was valued at US$ 1.2 Bn in 2017, and is expected to reach US$ 3.7 Bn by 2026, at a CAGR of 15.2 % during forecast period.
Global Nanosilver market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Nanosilver market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Nanosilver market.
Nanosilver is not a new discovery by nanotechnologists, it has been used in various products for over a hundred year. The antimicrobial effects of minute silver particles, which were then known as “colloidal silver,” were known from the earliest days of its use.
The major drivers behind the growth of the nanosilver market are growing antimicrobial applications in the pharmaceutical and medical sector and increasing use in consumer electronics. However, growing concerns over environmental impact and toxicity of nanosilver, high processing costs, and stringent environmental regulations could hamper the growth of the nanosilver market.
The electrical & electronics segment is projected to offer several lucrative opportunities to the overall uptake of nanosilver as the trend of miniaturization continues to strengthen. Nanosilver market to the metal’s superior electrical conductivity, this property has won nanosilver extensive usage in the electrical and electronics industry. Thus is the growing demand for consumer electronics is expected to have a positive influence on the global nanosilver market. Nanosilver is used as an alternative to carbon nanotubes, graphene, traditional silver, and indium tin oxide.
Further, because of excellent antimicrobial properties of nanosilver has led to its growing application in the pharmaceutical industry. The changing medical and healthcare sector are also expected to propel the growth of the global nanosilver market during forecast period. In medical sector nanosilver is widely used in production of bandages, surgical blades, and for wound dressing.
Every year some 320 tonnes of nanosilver are used worldwide, some of which is released into wastewater, thus finding its way into natural water recirculation systems. Recent findings have suggested that some nanosilver particles are rapidly converted to more stable silver sulfides in certain oxygen-free environments where sulfates are present, such as waste water plants.
Based on the method of synthesis the nanoparticle, Chemical reduction method of synthesis for nanosilver market is projected to hold major market shares in the nanosilver market during forecast period. In chemical reduction method, product is prepared as stable and colloidal dispersion in organic solvent or water. Silver ions are reduced with various complexes which is followed by accumulation into clusters which subsequently forms colloidal silver particles. Reducing agents, for instance hydrazine, sodium borohydride, formaldehyde, etc. are used to reduce a silver containing salt to produce nanosilver particles. Green chemistry for chemical synthesis addresses our future challenges in working with chemical processes and products by inventing novel reactions that can maximize the desired products and minimize by-products, designing new synthetic schemes and apparatus that can simplify operations in chemical productions, and seeking greener solvents that are inherently environmentally and ecologically benign.
Geographically, the North America region is expected to be a key region witnessing high, nanosilver demand from growing electronics and healthcare industries. Further, Asia Pacific is also expected to witness significant growth owing to upcoming electronics manufacturing facilities in China, India, and South Korea coupled with high demand for these products globally.
The global market for nanosilver has its own set of challenges. The biggest challenge for the global market is the exorbitant cost of production as compared to conventional silver. This translates to significant capital investments, which is not possible for most players. Thus, it has restricted the entry of several players. Capital-intensive nature of the market has also magnified the risks of breaking even and surviving competition for many companies. Furthermore, the volatile nature of raw material prices is projected to hamper the growth of the overall nanosilver market in the forthcoming years.
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Scope of the Global Nanosilver Market
Global Nanosilver Market, by Method of Synthesis
- Physical Synthesis
- Biological Synthesis
- Chemical Reduction
Global Nanosilver Market, by End User
- Electrical & Electronics
- Food & Beverage
- Clothing & Textiles
- Personal Care & Cosmetics
- Water Treatment
- Others (Agriculture, Space Technology, Construction, and Detergents)
Global Nanosilver Market, by Region
- North America
- Middle East & Africa
- South America
Key Players operating in the Global Nanosilver Market
- Cambrios Technologies Corp.
- Cima Nano Tech, Inc.
- Blue Nano, Inc.
- Applied Nanotech Holdings, Inc.
- Advanced Nano Products
- Ames Goldsmith Corporation
- NovaCentrix Corp.
- NanoMas Technologies
- Silvix Co. Ltd.
- ABC Nanotech, Ltd.
- Agfa Specialty Products
- Reinste Nano Venture Pvt. Ltd.
- Carestream Health, Inc.
- Chengdu Huarui Industrial Co., Ltd.
- Zhengzhou Dongyao Nano Materials Co., Ltd.
- Nano Labs Corp.
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