Robust demand for anti-microbial coating across food & beverage industry, healthcare, consumer applications, personal care, etc. will boost nanosilver market size.
Sellbyville, DE -- (SBWIRE) -- 12/11/2018 -- According to a new research report by Global Market Insights, Inc. Nanosilver Market size is poised to exceed USD 3.3 billion by 2024. Robust demand for anti-microbial coating across food & beverage industry, healthcare, consumer applications, personal care, etc. will boost nanosilver market size. This is chiefly due to anti-microbial properties possessed by product which helps across several applications in the aforementioned industries. For instance, in the medical industry, product is used to manufacture tubes, bandages, ointments, etc.
Sturdy growth in nano-technology based consumer electronics in North America will help in attaining promising gains in the nanosilver market size in the coming years. It is extensively used in manufacturing electronic devices & equipment owing to its high thermal & electrical conductivity in inks, pastes and adhesives. Increasing demand for superconductors is expected to bolster growth of the nanosilver market which is credited to space restraints which is otherwise required for conventional cables.
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Nanosilver market has emerged as one of most opportunistic business spheres in recent times. Prominent players across the electrical, medical, textile, and food & beverage sectors have been depicting considerable interest in deploying nanosilver in their products pertaining to its special optical, biological, and electrical properties. In fact, conductive nano-inks, used for printing continual conductive polymers have emerged as another precise application of nanosilver. These polymers are extensively used in electronics equipment to modernize chip technologies, the extensive proliferation of which is slated to influence nanosilver industry share positively.
The scientific community, it has been observed, has been continually involved in the development of new innovative technologies in the nanosilver space. For instance, a team of researchers from the Ludwig-Maximillians-Universitaet Muenchen (LMU) and Ohio University have detected that silver nanoparticles have the capability to reduce energy consumption in light-based computer systems. In consequence, the adoption of this technology for various applications will lead to energy conservation in the future, which may considerably impact nanosilver market trends.
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Nanosilver is extensively used to manufacture printing inks, which are heavily deployed for 3D printing applications. Of late, the 3D printing technology is being utilized widely across the medical and automotive domains, on the grounds of which it has been forecast that nanosilver market will stand to gain much from the humongous proliferation of 3D printing. Taking into account the future scope of this dynamic technology, prominent nanosilver market players have been forging alliances with 3D printing equipment manufacturers to enhance product functionality.
For instance, NovaCentrix and nScrypt have partnered to develop a next-generation 3D printing tool for manufacturing functional and complex products. The United States Army Research Laboratory has also established a partnership with FlexTech to use 3D printing technology for rapid prototyping of electronic devices and its components. These instances validate the vast expanse of 3D printing, which would incidentally propel nanosilver market share as well. Speaking of which, some of renowned participants in nanosilver industry include NovaCentrix, Creative Technology Solutions Co. Ltd., SILVIX Co., Ltd., Nano Silver Manufacturing Sdn Bhd, Bayer MaterialScience, Advanced Nano Products Co Ltd., and Applied Nanotech Holdings, Inc.
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Nanosilver particles are reputed to encompass beneficial medicinal properties – they are antifungal, antiviral, antibacterial, and anti-inflammatory as well, pertaining to which, they are extensively used for various biomedical, clinical, water purification and textile material applications. The widespread deployment of this product in biomedical applications especially, is likely to augment the overall nanosilver market share.
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