Global Silver Nanoparticles Market size worth above USD 5.5 billion by 2027
Published Date: July 14, 2021 Authors: Kunal Ahuja, Amit Rawat
According to a new research report by Global Market Insights Inc., the Silver Nanoparticles Market size is set to surpass USD 5.5 billion by 2027.
Silver nanoparticles (AgNPs) are minute particles, with a size of 1nm to 100nm and are fabricated from the noble metal, silver. The product is primarily used for its potent antimicrobial properties in the healthcare sector where its adoption is likely to increase significantly owing to stringent regulations, rising awareness about safety & hygiene, and the onset of COVID-19. The product is also an ideal carrier in targeted drug delivery pertaining to its high-density surface ligand attachment, adjustable shape & size, and stability of nucleic acids on its surface.
Economic recovery in the post-lockdown phase to drive the silver nanoparticles market from electronics & electrical application
The silver nanoparticles market size with regards to electronics & electricals application should surpass USD 985 million by the end of 2027. The product finds widespread usage as conductive fillers in electronically conductive adhesives and microelectronic materials. It is also witnessing increasing adoption in consumer electronic products such as smartphones, automobile appliances, computers, and household appliances.
The sales of consumer electronics have risen in recent months owing to the relaxation of the coronavirus pandemic-induced lockdowns, expansion of the online retail sector, and the reopening of brick-& mortar retail stores. The adoption of innovative technologies, such as Artificial Intelligence (AI), voice recognition technology, and the Internet of Things (IoT), will further boost the electronics industry and stimulate the demand for silver nanoparticles.
“According to industry forecasts, the electronics & electricals segment to register about 7.6% gains by 2027 owing to technological advancements in the electronics industry”
Browse key industry insights spread across 200 pages with 108 market data tables and 19 figures & charts from the report, “Silver Nanoparticles Market Size, By Application (Healthcare & Life Sciences, Textiles, Electronics & Electricals, Food & Beverages), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The growing focus on maintaining food quality & safety to augment the business growth from food & beverages
The food & beverage application segment will exceed USD 515 million by the end of 2027. These products offer excellent antimicrobial action, which prevents food spoilage. Increasing research activities to investigate the effectiveness of nanotechnology-based packaging to enhance food safety & quality will fuel the growth of the silver nanoparticles market.
AgNPs are increasingly incorporated in packaging materials to produce antimicrobial packaging, thus ensuring food safety and extending shelf life. The increasing requirement for food owing to population growth and growing preference for convenience & processed food owing to the adoption of hectic lifestyles are likely to augment the silver nanoparticles market share.
“As per market forecasts, the food & beverages segment will witness a CAGR of over 7.1% by 2027 owing to growing research efforts to boost the shelf life”
The presence of a well-established textile manufacturing hub will drive product demand in Asia Pacific
The demand for silver nanoparticles in Asia Pacific is likely to witness gains over 16% during the forecast period. The booming textile industry primarily due to the presence of a well-established manufacturing hub, availability of cheap labor, and low production cost will drive product demand. AgNPs are increasingly used to produce high-density coatings on the surface of commercial fabrics to protect them from bacteria.
Rising disposable incomes, changing consumption patterns, and population growth will increase the demand for clothing in the region and stimulate the demand for silver nanoparticles. The role of China as a dominant textile exporting country, whose exports are rising in recent years will further stimulate the textile sector. Major international fabric companies have shifted their production base to China to avail cost and regulatory benefits, accelerating the silver nanoparticle market growth.
Major silver nanoparticles manufacturers are primarily focusing on capitalizing the product’s role as an antimicrobial agent while others are engaged in research & development and expansion of the production capacity. Major manufacturers in the silver nanoparticles industry include Meliorum Technologies, BASF, Nanocs, nanoComposix, NanoHorizons, AMES Goldsmith, Advanced Nano Products, American Elements, and Sigma Aldrich.