Silver Nanowires Market Size

Silver Nanowires Market Size

Silver Nanowires Market size is projected to grow at 26.5% CAGR and industry expects consumption of above 11 tons by 2025. Growing demand for highly conductive material in order to manufacture optical, chemical and thermal products may drive silver-based nanowires market size by 2025.

The products posse’s noble properties including strong optical transmittance and conductivity, thereby used in thermal and anti-microbial applications. These products are next generation TEC (Transparent Conductive Electrodes) for semi-conductor devices due to their high optical transmittance, flexibility, low manufacturing cost and compact sheet resistance.

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COVID 19 outbreak had a significant impact on the global silver nanowires market. To stop the spread of COVID 19 virus, governments across the globe-imposed lockdowns, including temporary shutdown of operation in industrial units. This resulted in decline in silver nanowires production. Silver nanowires are widely used in electronics and optics industry due to their anti-microbial efficacy & low toxicity. Thus, the temporary shutdown of end-user industries also decreases the nanowires demand. Also, government initiatives focusing on solar energy across the globe as well as ongoing solar projects are also put on hold, impacting the silver nanowire usage. However, once the market is stable due to increasing necessity of solar power it is anticipated the market will grow significantly over the forecast period.

Silver based nanowires exhibits unique bond of valance electrons, thus making them ideal for conductive applications. These products have wide surface area, strong electrical conductivity, and high aspect ratio, thereby can be used as a replacement for indium tin oxide in transparent conductive layers. Properties including surface morphology and mechanical adhesion enable silver-based nanowires to have application in optoelectronic devices as transparent conductors.

Characteristics including ready availability, low light interference, strong transmission and low haze will promote product demand by 2025. Silver based nanowire is highly flexible and therefore used in flexible substrates as their dispersion inks in to roll coatings. Growing demand for alternatives to ITO owing to increasing product cost due to depletion of indium source may foster the silver nanowires market share in projected timeline.

Silver based nanowires have wide applications in electronics and optics industry for their anti-microbial efficacy & low toxicity. Growing product usage in photovoltaics, chemical and biological sensors owing to its unique electrical, thermal, and optical properties may boost industry size in forecast timeframe. These nanowires are also utilized in conductive inks, fillers and pastes due to high electrical conductivity, low sintering temperature and stability, thus propelling the silver nanowires market demand.

Increasing product utilization for photonic, coatings, and molecular diagnostics owing to its anti-microbial properties due to continuous release of silver ions which provide protection against bacteria will favor industry growth. These products are also utilized in textiles, wound dressings, keyboards, and bio medical devices will stimulate the silver nanowires market by 2025.

These products possess strong mechanical hold and suppleness which allows them to have application in modern LEDs and carbon-based solar cells. These products are transparent conductors and have very low shunt resistance and strong optical and electrical presentation. These factors will propel industry growth in forecast timeline. 
 

Vulnerability to damage by high energetic ultraviolet radiation along with lack of efficiency in harsh environmental conditions may hamper industry growth. Lack of proper infrastructure for product manufacturing along with high investment costs may affect the Silver nanowires market trend.