Transparency Market Research has released a new market report titled “Nanosilver Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023” According to the report, the global nanosilver market was valued at US$ 700.9 Mn in 2014 and is anticipated to reach US$ 2,415.5 Mn by 2023, expanding at a CAGR of 14.8% between 2015 and 2023.
Silver particles ranging from 1nm to 100nm in size are called nanosilver. Small particle size, large surface area, and excellent antibacterial and conductive properties are the major advantages of nanosilver. Hence, it is used in various applications such as electronics, cosmetics, medical, pharmaceuticals, pesticides, textiles, plastics, paints & coatings, electrical, water treatment, food & beverages, packaging and detergents. 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 geometry of the nanosilver particle. Based on product type, nanosilver can be further divided into powder, colloidal, and master batch forms.
In terms of revenue, electrical & electronics accounted for major share of the nanosilver market in 2014. This trend is projected to continue during the forecast period. Healthcare is expected to be the fastest growing end-user segment of the nanosilver market in terms of revenue during the forecast period. It held nearly one-third share of the global nanosilver market in terms of revenue in 2014. Nanosilver is applied as coating in the food & beverages packaging. This helps preserve food for longer time. Nanosilver is also employed in the manufacture of textiles such as socks, medical garments, gloves, and sportswear. It is primarily used for filtration, purification, and neutralization processes in the water treatment industry. Other end-user industries that employ nanosilver include personal care, detergents, and optics. These end-user industries are estimated to expand at a significant CAGR during the forecast period.
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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.
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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