Albany, NY -- (SBWIRE) -- 11/02/2016 -- Nanosilver are silver particles ranging from 1nm to 100nm in size. Currently, nanosilver particles are used in a variety of applications. These include electronics, cosmetics, medical, pharmaceutical, pesticides, textiles, plastics, paints & coatings, water treatment, food & beverages, packaging, and detergents. Small particle size, large surface area, less loading of silver, and excellent antibacterial and conductive properties are the major advantages of nanosilver. Silver nitrate along with other silver salts such as silver sulfate, silver acetate, sodium borohydride and silver oxide is employed in the manufacture of nanosilver depending upon the size and the geometry of the nanosilver particle. Based on product type, nanosilver is available in powder, colloidal, and master batch forms.

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Electrical & electronics is the largest end-user of nanosilver; it is employed in conductive inks, biological and chemical sensors, flexographic inks, RFID tags, printed circuit boards, and other conductive components due to its good optical and conductive properties. Miniaturization in the electronics field is driving the demand for nanosilver in the electrical & electronics industry. Healthcare is the fastest growing end-user segment of nanosilver, as nanosilver is used for anti-microbial applications. Nanosilver is employed in the manufacture of medical instruments and coating for disinfectants in the biomedical industry. Nanosilver ions help reduce pain, healing time, and frequency of changing dressing in patients suffering from burn injuries. This is projected to drive the nanosilver market during the forecast period. Novel applications of nanosilver in the field of biomedical are expected to create new opportunities for market players. Research and development is being conducted to expand the application of nanosilver in medical devices, personal care, textile industries, etc. However, lower cost of conventional silver vis-à-vis nanosilver is anticipated to hamper market growth.

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North America was the largest consumer of nanosilver in 2014, led by high demand for nanosilver-based products in the U.S. It accounted for more than 40% share of the global nanosilver market in 2014. Asia Pacific was the second-largest consumer of nanosilver in 2014, due to increasing demand for this material in electrical & electronics applications in Japan and South Korea. It is also the fastest growing region for the nanosilver market. The nanosilver market in Europe is estimated to expand at a modest rate during the forecast period. Regulatory concerns regarding harmful effects of nanosilver on health and environment and high cost of nanosilver are likely to hamper the global nanosilver market. However, technological innovation and achievement of economies of scale are anticipated to lower technological costs in the near future.

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Growth in the antimicrobial coating industry is expected to propel the nanosilver market in the next eight years. Furthermore, rising demand for nanosilver in various applications is estimated to act as a major opportunity for the nanosilver market in the near future. Efforts are being taken to simplify the manufacturing process of nanosilver. This is projected to lower the manufacturing cost substantially. Key players in the nanosilver market include NovaCentrix, NSM (Nano Silver Manufacturing SDN BHD), Advanced Nano Products Co., Ltd., Creative Technology Solutions Co., Ltd., Ames Goldsmith Corp., Applied Nanotech, Inc., SILVIX Co., Ltd., NanoMasTech., and ras materials GmbH. The nanosilver market is fragmented; the top players concentrate on strategic mergers and portfolio enhancement to maintain their market share.

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