Press release
Silver Salt Market worth $2.0 Billion by 2030, Rising demand from the medical sector & several end-use industries
Silver Salt Market
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Rise in demand from the medical sector and several end-use industries drives the growth of the global silver salt market. On the other hand, harmful effects associated with the usage of silver salt restrain the growth to some extent. However, increase in usage of silver salt in the ceramic and weather modification industry is projected to create lucrative opportunities in the industry.
Based on type, the silver iodide segment accounted for more than one-fourth of the total market share in 2020, and is expected to rule the roost by 2030. The silver bromide segment, on the other hand, would garner the fastest CAGR of 9.7% throughout the forecast period.
COVID-19 scenario-
The outbreak of the pandemic has given way to a steep incline in demand for silver salts in the form of nanoparticles for various medical & medical devices applications, which in turn, has impacted the global silver salt market positively.
This trend is quite likely to continue post pandemic as well.
The global silver salt market is analyzed across type, application, and region.
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Based on application, the medical & medical devices segment and chemical manufacturing segment contributed to nearly two-fifths of the total market revenue each in 2020, and are projected to lead the trail by 2030. The medical & medical devices segment alone, however, would exhibit the fastest CAGR of 9.0% during the forecast period.
Based on region, the market across Asia-Pacific held the major share in 2020, garnering around half of the global market. The same region would also manifest the fastest CAGR of 8.1% throughout the forecast period. Other provinces studied in the report include North America, LAMEA, and Europe.
The key market players analyzed in the global silver salt market report include ACHEMTEK, ALFA Chemistry, ALFA AESAR, Yogi Dye Chem Industries, American elements, ABCR GmBH, BOC Science, Finetech Industry, Micron Platers, and Metalor Technologies. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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By Type
Silver Chloride
Silver Bromide
Silver Iodide
Silver Fluoride
Silver Nitrate
Others
By Application
Photographic Film & Paper
Chemical Manufacturing
Medical and medical devices
Others
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