Nanosilver Market Size

Nanosilver Market Size

Nanosilver Market size was over USD 1 billion in 2016 and will witness 15.6% growth over the projected timespan. 

Strong product demand in the electrical & electronics industry in North America is likely to make significant contribution to nanosilver market size during the forecast period. Silver holds the highest electrical and thermal conductivity and is henceforth widely used in consumer electronics in the form of paste, inks and adhesives. Nanosilver possess high performance levels, and is therefore replacing traditional silver in electronics application. It offers higher surface area per unit volume due to small particle size, which allows reduction in silver loading in various applications. Moreover, the convergence of technologies has resulted in robust demand for consumer devices including entertainment products, home appliances, computer peripherals and telecom equipment. With the advent of the convergence revolution, different streams including video, information technology, and digital audio have merged into a single, comprehensive business. These technological innovations are likely to replace conventional electronic components such as indium tin oxide (ITO), conventional batteries, capacitors, etc. which will subsequently help boost nanosilver market size by 2024.

Rising product demand for antimicrobial coatings in medical and consumer hygiene applications as it possesses excellent anti-microbial properties will have positive impact on the nanosilver market size in the coming years. Medical applications include bandages, tubing, catheters, dressings, powders, and creams and consumer hygiene applications includes clothing, personal care products, food packaging, etc.

Stringent regulations formed against product use across various end-user industries including electrical & electronics, healthcare, food & beverages, textile and water treatment industry owing to its hazardous impact on human health & environment is likely to hamper the nanosilver market size in the coming years. Furthermore, high product prices are also likely to obstruct the business growth during the forecast period.