Albany, NY -- (SBWIRE) -- 07/18/2018 -- A recent study by Transparency Market Research (TMR) has detected that since the global nanosilver market is in budding stage and the technology is capital-intensive, the opportunities are limited for new entrants, while a few manufacturers hold the lion share. The TMR report identifies Nano Silver Manufacturing Sdn Bhd, Applied Nanotech Holdings, Inc., and Bayer MaterialScience as some of the key players in the global market for nanosilver. Most of these companies either buy raw material from suppliers before processing them, or use in-house materials. The nanosilver produced is used internally or supplied to other end-use industries.
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As per the estimations of the report, the global nanosilver market will expand at a robust CAGR of 15.4% during the forecast period of 2014 to 2020, reaching a substantial valuation of US$1.8 bn by the end of 2020. The analyst of the report has high hopes from the market for nanosilver, which is at the backbone of miniaturization trend in the electronic industry. Partnerships, capacity and business expansion, acquisitions, mergers, and product as well as application development is expected to define the leader of this market in the near future.
Miniaturization of Electronic Devices Serves Maximum Demand
Based on end-use industry, the TMR report segments the global nanosilver market into electrical and electronics, food and beverages, healthcare, textile, water treatment, and others such as detergents and personal care. Among these diverse end-use industries wherein nanosilver is applicable, the electrical and electronic sector currently serves the maximum demand and it is expected to remain the most lucrative market segment in the near future. Increasing application of nanosilver in printing electronics including flexographic and inkjet printers, capacitors, miniature printed circuit boards, and printed sensors will keep the demand for nanosilver flowing from the electrical and electronics industry. The healthcare industry, wherein nanosilver is used for bandages, surgical blazes, and wound dressing, is anticipated to remain second most profitable end-use segment, ahead of the food and beverages as well as textile industries.
Geographically, the report takes stock of all important regions including North America, Asia Pacific, Europe, and the Rest of the World, and rates North America as most lucrative region. This significant demand from North America nanosilver market is primarily from the developed countries of the U.S. and Canada, wherein the electronics industry is booming and the healthcare infrastructure is robust. The food and beverage industry is expected to provide traction of Europe nanosilver market.
Superior Electrical Connectivity Makes Nanosilver Highly Useful
Increasing application scope of nanosilver owing to its superior properties, the prosperity of the electronics and healthcare industries, rise in demand for industrial nanosilver from diverse end-use industries, decreasing price of nanosilver, government funding and support for the use of nanosilver, and increasing demand for antimicrobial coatings in several industries are some of the key factors driving the demand in the global nanosilver market. On the other hand, high price and concerns pertaining to the harmful effects of nanosilver on human health and the environment are a few glaring restraints that are expected to challenge the market for nanosilver from achieving its true potential during the forecast period. Nevertheless, technological innovation, economies of scale, and vast opportunities in numerous sectors are a few favorable trends of the global nanosilver market.
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The author of the report credits the high electrical conductivity of silver that makes it widely used across consumer electronics as key factor that will keep the demand incrementing in the near future. As nanosilver exhibits high performance level, it will eventually replace traditional silver used in the manufacture of electronics, according to the author.
The information presented in this review is based on a Transparency Market Research report, titled, "Nanosilver Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020."