Sliver Nitrate, a silver salt raw material, is one of the most important chemical compound due to its varied industrial and commercial applications. Silver nitrate compound have an important presence in medical & healthcare, photography & jewelry, glass coating and other applications. Besides important chemical properties such as stability to light, solubility in water and non-hygroscopic nature, silver nitrate have competitive advantage of being the least expensive of the silver salts, making the silver nitrate market lucrative. The past trends reveals high growth rates in the silver nitrate market due to extensive use of silver nitrate as photographic emulsions and as an agent to remove copper oxide firescale from silver articles. Silver nitrate is an important antiseptic, disinfectant, and is also used for glass coating to manufacture shiny mirrors. A large portion of silver consumed globally goes into the production of silver nitrate compounds. Silver nitrate is produced by a chemical reaction between silver and nitric acid, further it acts as an intermediate chemical, from which other silver compounds are made and thus possesses important laboratory applications. However, the silver nitrate market has encountered a decline in growth rate in past decade, which is majorly due to reduced use of silver nitrate in photographic applications. The silver nitrate market possess strict government norms and regulations due to its toxic nature. It can cause adverse effects to humans and environment, especially has severe danger to fish and other aquatic organisms.