Asia Pacific to Register Highest CAGR in Nano-silver Market During Forecast Period
Rapid industrialization and
increasing investment in healthcare sector to drive global nano-silver market
during forecast period
According to
TechSci Research report, “Global Nano
Silver Market By Purity Level, By Application, By End-user, By Region,
Competition, Forecast & Opportunities, 2024”, global nano-silver market is expected to grow at a CAGR
of around 16% during the forecast period. Nano-silvers are witnessing adoption
in various end user industries owing to their superior properties including
small size, high conductivity along with thermal and antimicrobial
characteristics of nano-silver has resulted in application growth such as water
& air purifier, hair dryer, washing machines, socks, drugs, medical devices
and food packaging. However, high cost coupled
with huge investments for production technology development of nano-silver is likely
to hamper the growth of the market during forecast period. Additionally,
fluctuations in silver prices is adversely impacting the nano-silver market.
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Global
nano-silver market is segmented based on purity level, application, end user, region
and company. Based on application, the market can be segmented into
diagnostic,
antibacterial, conductive and optical. Of all, the antibacterial application
dominates the market owing to its growing applications in hospital doorknobs
& handrails and medical device coatings. Additionally, nano-silver is
extensively used for the production of bandages, surgical blades, and for wound
dressing. Based on end user, the market can be fragmented into electrical &
electronics, pharmaceuticals, clothing & textiles and others. The pharmaceuticals
segment is expected to register the highest growth during forecast period on
account of antimicrobial properties of nano-silver due to which it is finding
application in pharmaceutical sector.
Nano Silver Manufacturing SDN BHD,
Advanced Nano Products Co. Ltd., Ames Goldsmith Corp., Creative Technology
Solutions Co. Ltd, Applied Nanotech, Inc., Clariant International Ltd., ras
materials GmbH, SILVIX Co., Ltd., NovaCentrix, C3NANO, among others are some of the
leading players operating in global nano-silver market.
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“Asia-Pacific is
expected to be the fastest growing region in global nano-silver market during
the forecast period, owing to the growing investments in electronics,
construction and medical industries in the region. Additionally, continuous
technological advancements and healthcare improvements are further likely to
contribute to the growth of the market. Furthermore, industries including
textile, food, personal care, and water treatment are also creating pathways
for the nano-silver market to grow in the region.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Nano-silver Market By Purity Level, By
Application, By End-user, By Region, Competition, Forecast & Opportunities,
2024” has evaluated the future growth
potential of global nano-silver market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in global
nano-silver market.
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