Nanosilver Market Analysis

Nanosilver Market Analysis

Chemical reduction mode of synthesis for nanosilver market size attained the highest share and is likely to grow at a healthy CAGR over the projected timespan. In this mode, product is prepared as stable and colloidal dispersion in organic solvent or water. Silver ions are reduced with various complexes which is followed by accumulation into clusters which subsequently forms colloidal silver particles. Reducing agents, for instance hydrazine, sodium borohydride, formaldehyde, etc. are used to reduce a silver containing salt to produce nanosilver particles.
 

Biological mode of synthesis for nanosilver market size is anticipated to attain the highest CAGR during the forecast period. This is due to the fact that it is a green mode which allows production in aqueous condition with low energy requirements and low cost. In this mode, bio-organisms act as reducing and capping agent for product synthesis with low polydispersity and good yield over 55%.
 

Nanosilver market size for electrical & electronics attained a significant share which is valued over USD 350 million in 2016. This is due to consistent advancement in electrical & electronics industry which has been replacing conventional silver applications with the product. For instance, product is used in manufacturing Radio Frequency Identification (RFID) tags which are capable of storing larger amounts of data than bar codes. In addition, product finds applications in super capacitors which are extensively utilized in grid disturbances, hybrid buses, etc. which will help achieve prominent gains in electrical & electronics industry for nanosilver market size over the projected timeframe.
 

Nanosilver market size for food & beverage industry is anticipated to grow at a CAGR close to 14% in the coming years. It is extensively used in food & beverage packaging for protection against foodborne disease owing to its excellent anti-microbial, anti-fungal and anti-viral properties. Stringent regulations to maintain health & hygiene propelled demand for antimicrobial food packaging which is a special packaging that releases active biocide substances to improve the overall food quality and extended shelf life.
 

Asia Pacific nanosilver market size is projected to grow at the highest CAGR which is accounted at 16% by 2024. This is mainly due to rising product demand across several end-user industries including electrical & electronics, food & beverage, healthcare, textile, water treatment and personal care industry in the region. For instance, product finds extensive applications in treatment, diagnosis, medical device coating, drug delivery, and for personal health care owing to its anti-microbial properties.
 

North America nanosilver market size was valued over USD 400 million in 2016. This is attributed to consistent technical advancements in the consumer electronics to meet rapidly changing consumer preferences in the region. For instance, Metropolis Technology, based in the U.S. offers silver and nanotechnology-based hair dryers that help in eliminating frizz and preventing split ends. In addition, product is extensively used in the healthcare, water treatment, food & beverage and personal care industry in the region which will help attain prominent gains to nanosilver market size by 2024.