Silver Nanoparticles Market - By Application (Healthcare & Lifesciences, Textiles, Electronics & Electricals, Food & Beverages) & Forecast, 2020-2027

Silver Nanoparticles Market Size

Global silver nanoparticles market size surpassed USD 2 Billion in 2020 and is likely to grow at a CAGR of 14.5% by 2027. Increasing demand for novel drug delivery systems based on microsphere particles and polymeric nanoparticles to enhance the effectiveness of therapeutic drugs and technological advancements in nanoscience & technology & the growing awareness of unique biological, optical, thermal, electrical & chemical properties and high electricity conductivity of silver nanoparticles will accelerate industry growth.
 

Silver nanoparticles are colloidal metal nanoparticles, ranging up to 100nm in size. They are adopted in a wide range of industries such as engineering, biomedicine, and manufacturing. These products find growing adoption in active food packaging in combination with either edible or non-biodegradable polymers owing to their high antiviral, anti-yeast, antifungal, and antimicrobial properties.
 

Silver nanoparticles are increasingly incorporated in electronics owing to its high electrical conductivity and ability to be blended with various conductive polymers such as polyaniline, polythiophene, and polypyrrole. Favorable government regulations, growing demand for handheld consumer electronic devices, and growing work-from-home policies in the wake of the coronavirus pandemic will drive the electronic industry in the short to medium term and boost the silver nanoparticles market expansion.
 

Silver Nanoparticles Market Analysis

The healthcare & life sciences application segment surpassed USD 740 million in 2020 and is projected to grow at a CAGR of 7.8% during the forecast timeframe. These products offer various biological effects such as wound repair, enhancing vaccine immunogenicity, bone healing, anticancer, and antimicrobial effects. The coronavirus outbreak in late 2019 resulted in the growing research on the antiviral effect of silver nanoparticles, indicating that these products have the ability to inhibit the COVID-19 infection.
 

The increasing penetration of health insurance, rising prevalence of chronic lifestyle diseases, such as obesity, heart disease & diabetes, and technological advancements will stimulate the healthcare sector growth, thereby boosting the silver nanoparticles market growth. The rising elderly population globally has increased the requirement for healthcare services owing to the high susceptibility of this segment to chronic illnesses.
 

Growing fatalities due to cancer on account of rising exposure to potential carcinogens, unhealthy diets, and the adoption of a sedentary lifestyle will accelerate silver nanoparticle adoption as anticancer properties. The rise in human lifespan has also increased the possibility of cancer-causing genetic mutations, leading to increased cancer prevalence. Silver nanoparticles offer potent apoptosis-inducing and antiproliferative properties, making them effective antitumor agents.
 

The textile application will surpass USD 1.4 billion by 2027, registering a gain of 7.3%. Consumers exhibit a growing preference for textiles with various benefits, such as antibacterial, antistatic, UV protection, wrinkle resistance, and water repellence, which will boost the adoption of silver nanoparticles. Significant industrialization, primarily in emerging nations such as China, India, and Mexico, along with evolving technology allowing efficient fabric production will boost the textile sector and augment the global silver nanoparticles market share.
 

The substantial expansion of the automobile and transportation sectors has significantly increased the demand for nonwoven fabrics. The growing hygiene awareness due to the COVID-19 pandemic, improving lifestyles, and general population growth have resulted in an ample demand for hygiene products, such as sanitary napkins, adult incontinence products, and baby diapers, further driving the nonwovens sector. The growing consumer preference for novel hygiene products incorporated with silver nanoparticles for antibacterial effects will stimulate the market growth.
 

Evolving textile trends, rising disposable incomes, and increasing urbanization have led to the growing demand for high-quality textiles & fibers. The ecommerce sector growth and the booming fashion industry will boost the textile industry growth. Recent research indicates that silver nanoparticles have the ability to impart antimicrobial properties to fabrics without adverse effects on the color.
 

The silver nanoparticles demand in North America surpassed USD 745 million in 2020 and will register a gain of over 14% by 2027. The region is witnessing significant population growth, particularly elderly citizens. Favorable government initiatives in recent times, such as the Affordable Care Act, have increased the affordability of health insurance for most U.S. citizens, thereby stimulating the healthcare industry growth.
 

The COVID-19 outbreak has led to an enhanced innovations in the healthcare sector, particularly in the provision & distribution of services through urgent care & retail clinic utilization and telehealth expansion. The pandemic has also brought about increased outreach to underserved & rural communities through mobile health units, indicating a tremendous growth potential of the healthcare sector, in turn, boosting the silver nanoparticles market sales.
 

The U.S. is witnessing a substantial rise in citizens aged 65 years and older owing to increasing life expectancy, which will lead to an increase in healthcare spending owing to the higher prevalence of health disorders with advancement in age. Silver nanoparticles are associated with various health benefits, such as antiviral properties, bone healing, and antidiabetic properties.
 

Silver Nanoparticles Market Share

The global silver nanoparticles industry share is moderately fragmented and includes various manufacturers such as:

• BASF
• Sigma Aldrich
• Nanocs
• Advanced Nano Products
• NanoHorizons, Inc 
• American Elements.

Various manufacturers aim to exploit the rising demand for antibacterial products in the wake of the coronavirus pandemic to develop new personal care or hygiene products based on silver nanoparticles. Manufacturers are also engaged in expanding their production capacity to meet the rising product demand.
 

Nanoshel is a manufacturer of a wide range of nano compounds & nanomaterials, which include silver nanoparticles of various sizes such as 50nm - 80nm, and 80nm - 100nm. The company has developed a silver-nanoparticle-based organic sanitizer, which allows it to capitalize on the growing demand for disinfection solutions in the healthcare sector. The company also plans to develop a nanomaterials facility in Ireland by 2024 to expand its distribution network.
 

The global silver nanoparticles market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in USD Million from 2020 to 2027 for the following segments:

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By Application

• Electronics & electricals
• Healthcare & life sciences
• Food & beverages
• Textiles
• Others

The above information has been provided for the following countries:

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Malaysia
  • Indonesia
• Latin America
  • Brazil
  • Argentina
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE