Silver Nanoparticles Market Size By Application (Healthcare & Lifesciences, Textiles, Electronics & IT, Food & Beverage), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, Netherlands, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024
Increasing demand of silver nanoparticles owing to excellent physiochemical and optoelectronic properties involved in the healthcare, electronics, and textile industry boosting market share. Antifungal and anti-bacterial properties are propelling application trend in food products, food packaging products, meat & seafood, cosmetics, and personal care fostering industry growth.
Silver nanoparticles delivers medicinal benefits specially in reducing cancer tumours owing to superior property in resisting cellular growth escalating industry share. Medicinal advancement has improved diagnostic methods by providing benefits as an anticancer agent in treatments and cure medicines propelling product demand.
U.S. FDA mainly regulates nanotechnology products along with EPA Environment Protection Agency has developed note keeping guidelines for manufacturers of the nanomaterial. European Union is studying on defining nanomaterials and engineered nanomaterials in commercial product usage. Permissible regulatory policies are positively impacting the adequate usage in several applications majorly fuelling product landscape due to numerous advantages.
In the nanotechnology, silver nanoparticles provided improved results owing to excellent strength to volume ratio are the primary drivers fuelling market penetration. Manufacturing companies are focusing on strengthening product applications including printing ink, paste, and fillers specially to enhancing efficiency & productivity are driving silver nanoparticles market.
Fluctuating raw material prices are affecting product demand over several regions. High product prices pertaining to high-end machinery and equipment required for production are among major factors hampering industry growth.
Healthcare silver nanoparticles market registered more than USD 470 million in 2017. Medicinal advantages including anti-microbial property is serving prominent application in pharmaceutical industry. Surging cost treatments from last few years nanomaterial is proving a cost-effective solution in life sciences leading towards high adoption of silver nanoparticles.
Electronic & electricals market is likely to witness over 12.6% CAGR up to 2024. Rapid advancements in electronics & IT industry owing to rising product innovation and processing pace instigating need for high conductive materials to qualify leading edge electrical machinery. Improving demand for high conductive particle including semiconductors, keyboards, and mobile phones are instigating silver nanoparticles market growth. High optical and electrical conductivity is mainly required in various semiconductor and electronic devices, touchscreens, LEDs and OLEDs for enhancing processing efficiency are major drivers increasing product demand.
North America silver nanoparticles industry is projected to register over 12.3% CAGR up to 2024. Strong revenue shares mainly driven by the U.S. and Canada owing to stringent food hygiene regulations for safety standards are propelling product profile. Strong presence of major electronic manufacturing companies along with prominent R&D activities in processing devices are primarily propelling market.
Asia Pacific silver nanoparticles market was estimated more than USD 400 million in 2017 owing to the large presence of a consumer population fuelling regional growth. The improving economies including China, India, and Japan owing to improved health awareness along with rising need for contaminated free water solutions escalating product demand.
Silver nanoparticles market is competitive owing to presence of limited companies. The major companies are American Elements, Cima Nanotech, BASF and Advanced Nano Products. Other companies are NanoHorizons, Nanocs, Meliorum Technology, BBI Solution, and Cline Scientific are the notable players in the market.