Global Silver Nanoparticles market growing at 13% CAGR up to 2024
Silver Nanoparticles Market size is set to surpass USD 3 billion by 2024 UK silver nanoparticles market size was over USD 40 million in 2015.
Silver Nanoparticles Market size is set to surpass USD 3 billion by 2024; according to a new research report by Global Market Insights, Inc.
Silver is among the highly-commercialized nanoparticles globally, due to its rich antimicrobial and antifungal properties. The material has wide acceptability in medical and textile industry for sterilizing the equipment and clothing.
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Increasing demand from the food & beverage packaging industry will stimulate silver nanoparticles market growth. This is due to the benefits associated with its antibacterial properties and improving shelf life. Food & beverages segment generated over USD 70 million revenue in 2015. Prevention from pathogens and maintaining food quality is among the key trending factor facilitating product penetration in this segment.
Silver nanoparticles market size from textiles was over 20% of the overall industry revenue in 2015. Improving or adding different functionalities to the textile including UV protection, stain resistance, and breathability have alleviated the product demand. Floor covering, kitchen and cleaning cloths, car seat covers, tire fabric, geotextiles, and curtains are major categories contributing revenue in this segment. MEA silver nanoparticles market demand from textiles were over USD 4 million in 2015. GCC countries were the major contributors, increase in the number of hospitals will propel the product demand.
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Major synthesis approaches for production include Chemical Vapor Deposition (CVD), Physical Vapor Deposition (PVD), and Vacuum Evaporation on Running Liquids (VERL). Potential novel productions routes under investigation include Superficial Fluid (SCFs) precipitation process and biological routes.
Regulatory norms pertaining to GHG emission have created new avenues for PV cells market. The material is also gaining popularity in touchscreens, liquid crystal displays, and OLEDs. Other potential applications include paint & coatings, agriculture, water treatment, and cleaning products.
Key insights from the report include:
U.S. silver nanoparticles market size was worth over USD 300 million in 2015. Rising demand for processed and readymade food has alleviated the product demand. Growing importance for sterilized clothes in order to prevent workers from unwanted germs is another key driving factor.
UK silver nanoparticles market size was over USD 40 million in 2015. Positive outlook from the healthcare industry pertaining to disinfecting medical equipment and in the wound healing process are major influencing factors. Regulatory compliances associated with hazardous waste while synthesizing nanomaterials may impose threat to industry.
Asia Pacific is mainly driven by South Korea and China silver nanoparticles market growth. Bulk electronics production and high consumption has propelled the regional demand. India is projected to witness significant growth due to the electronics & IT industry expansion in the coming years.
Global silver nanoparticles market share is fragmented and competitive in nature. NanoHorizons, Emfutur Technologies, Nanoshel, Nanocs, Cima Nanotech, Applied Nanotech, American Elements, and Cline Scientific are among the key industry participants. Other prominent companies on the basis of regional presence are Ames Goldsmith, Bayer, Advanced Nano products, and Meliorum Technologies.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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