The global nanosilver market is expected to grow owing to industrial silver demand from various end-use industries in the next six years. Increasing use in consumer electronics coupled with growing antimicrobial applications in the pharmaceutical and medical sector are expected to result in nanosilver market growth. Superior properties including small size, high conductivity along with thermal and antimicrobial characteristics of nanosilver has resulted in application growth such as water & air purifier, hair dryer, washing machines, socks, drugs, medical devices and food packaging. Increasing application scope is expected to be a key driver for the nanosilver market over the forecast period. The nanosilver market finds opportunities in niche applications such as solar energy, food & beverage, pharmaceuticals and medical which are expected to contribute to high demand.
Nanosilver can be used as substitutes to graphene, carbon nanotubes, indium tin oxide and conventional silver in LCDs, OLEDs and smartphones which is expected to drive demand. Furthermore, antimicrobial applications including hospital doorknobs & handrails, wound dressings and medical device coatings is expected to positively impact nanosilver market growth. Higher product cost as compared to silver coupled with huge investments for production technology development is expected to restrict nanosilver market demand over the forecast period. Silver price fluctuation adversely affects nanosilver prices thus hampering market growth.
Electronics application was the largest end-use, accounting for over 35% of the nanosilver market in 2013. Key electronics companies including LG, Samsung and Daewoo consist of product offering including nanosilver. Smith & Nephew and Nano Care Technology are healthcare companies offering products comprising nanosilver. The nanosilver market is expected to grow owing to increasing use in pharmaceuticals, drug delivery, creams and lotions. North America is expected to be a key region witnessing high nanosilver demand from growing electronics and healthcare industries. Asia Pacific is also expected to witness significant growth owing to upcoming electronics manufacturing facilities in China and South Korea coupled with high demand for these products globally. The global nanosilver market is fragmented in nature with a number of small manufacturers situated locally. Key market players include Advanced Nano Products, Ames Goldsmith Corporation, Applied Nanotech Holdings, Bayer MaterialScience, Creative Technology Solutions, Nano Silver Manufacturing, NovaCentrix, NanoMas Technologies and Silvix.
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