Sellbyville, DE -- (SBWIRE) -- 06/30/2020 -- As per Global Market Insights, Inc., report, silver nanoparticles market is estimated to reach 3 billion by 2024, increasing at an anticipated CAGR of 13% over the forecast period. Additionally, the document also includes pivotal information on the current market scenario, advancing technologies, expansive competitive landscape, industry strategies, growth prospects, and market segmentation.

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The optical properties of silver nanoparticles have been used widely to manufacture sensors and other functional parts of photonic devices. According to reports, electronics and electricals application segment from silver nanoparticle market is expected to register a steady 12% CAGR between 2016-2024.

Rapid technological developments in the electronics & IT sector along with shifting focus toward the expansion of nano-electronic components will certainly complement silver nanoparticles market trends. Increased demand for high conductive parts for products including keyboards, semiconductors, and mobile phones will have a considerable impact on the deployment of silver nanoparticles in the electronics sector.

Based on the application spectrum in the silver nanoparticles market, the research report bifurcates the segment into Healthcare & Lifesciences, Textiles, Electronics & IT, and Food & Beverage. It provides minute details on the growth drivers, current and predicted market share, expected segment valuation, individual segmental growth rate, and much more.

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Rising preference for packaged food and proliferating demand for ready-to-eat products will drive the industry expansion. It is estimated that the food & beverage application segment will contribute over USD 300 million towards silver nanoparticles market share by 2024.

Increased health and safety concerns as well as the constant need to eradicate disease spreading bacteria, microbes, and viruses are likely to reinforce the demand for the silver nanoparticles across the packaging sector.

Top companies in the silver nanoparticles market are American Elements, Ames Goldsmith Corporation, ANP Corporation, Applied Nanotech, BASF, BBI Solutions, Cima NanoTech, Cline Scientific Ab, Meliorum Technologies, Inc., NanoComposix, Nanocs lnc, NanoHorizons, and Nanoshel LLC.

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