Nanosilver Market for Electrical & Electronics, Healthcare, Food & Beverages, Textile, Water Treatment and Other End-use Industries - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020
Albany, NY -- (SBWIRE) -- 12/10/2014 -- Transparency Market Research has released a new market report titled "Nanosilver Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020." According to the report, the global nanosilver market was valued at USD 682.0 million in 2013 and is anticipated to reach USD 1,845.6 million by 2020, expanding at a CAGR of 15.4% between 2014 and 2020.
Increasing demand for nanosilver-based consumer products, especially in developed countries, coupled with growing antimicrobial applications of nanosilver is expected to drive the global nanosilver market during the forecast period. Additionally, shift towards miniaturization of electronic products is projected to boost the market. However, volatility in prices of silver and high price of nanosilver over conventional silver is anticipated to hamper market growth between 2014 and 2020. Novel applications in the field of electronics, textile and medical are likely to create new opportunities in the market in the next few years.
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Electrical & electronics industry dominated the global nanosilver market in 2013, accounting for over 37% of the global demand for nanosilver in terms of volume. Increase in the number of nanosilver-based electronic products such as air purifiers, water purifiers, washing machines, refrigerators, and hair dryers is expected to drive the nanosilver application in the electrical & electronics industry. Healthcare emerged as the second largest consumer of nanosilver due to excellent antibacterial properties of nanosilver. Additionally, the industry is less price-sensitive. This further boosts the nanosilver market. Other end-use industries such as personal care, detergents, ATM machines and construction are anticipated to grow at a significant rate during the forecast period. Emerging applications of nanosilver in textiles include socks, hospital gowns and bedding.
North America dominated the global nanosilver market in terms of volume and revenue in 2013. The region accounted for more than 41% share in terms of volume in 2013. Rising demand for nanosilver-based products in the U.S. is expected to augment the growth of the nanosilver market in North America. In terms of volume, Asia Pacific is likely to be the fastest growing region, expanding at a CAGR of over 13% between 2014 and 2020. Shift of manufacturing units of electronic products in Asia Pacific is anticipated to drive the nanosilver market in the region. Demand for nanosilver is predominant in applications such as water treatment, personal care and detergents in Europe. The market for nanosilver in Europe is projected to grow at a moderate pace during the forecast period.
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The global nanosilver market is fragmented in nature with no clear leader and small production capacities. Leading industry participants include Nano Silver Manufacturing Sdn Bhd, NovaCentrix, Advanced Nano Products Co. Ltd., Ames Goldsmith Corporation, Creative Technology Solutions Co. Ltd., Applied Nanotech Holdings, Inc., NanoMas Technologies, Inc., ras materials - Zukunft clever gestalten, SILVIX Co., Ltd. and Bayer MaterialScience AG.
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This report segments the global nanosilver market as follows:
Nanosilver Market - End-use Industries Analysis
Electrical & electronics
Food & beverages
Others (Including pesticides, plastics, detergents, etc.)
Nanosilver Market - Regional Analysis
Rest of the World
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