Silver Nanoparticles Market will Target Emerging Markets by 2025
Silver nanoparticles are sized between 100 nm to 1 nm and are often used as silver oxide rather than pure silver. One of the key physical properties of using silver nanoparticles is that their structures can be easily arranged depending on the application that they are needed for. More often than not, it is spherical silver nanoparticles are utilized in most applications, while other forms such as octagonal and diamond are preferred in more specific applications. Silver nanoparticles find a massive scope of applications in medical fields, where they can be used in animal studies and laboratory research, as well as assessments in toxicity or efficacy of chemicals.
The common methods of synthesizing silver nanoparticles include wet chemistry which is the leading synthesis method, monosaccharide reductions which is one of the simpler methods, citrate reductions, and polyol processing. Silver nanoparticles also hold a wide range of applications in electrochemistry, electronics and semiconductors, textiles, food and beverages, optics, and cosmetics. Of these, food and beverage and healthcare hold the leading scope of applications for silver nanoparticles, a trend that is likely to continue over the coming years as well.
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Silver Nanoparticles Market: Overview
Silver nanoparticles exhibit distinct electrical, thermal, and optical properties and are amongst the most widely used nanoparticles for consumer products. They find application in a wide range of products such as chemical and biological sensors and photovoltaics. For instance, silver nanoparticles are used in photonic devices and molecular diagnostics, which make use of novel optical properties of these materials. Additionally, they are extensively used in cosmetics, healthcare, chemical industries, electronics, nonlinear optical gadgets, food and feed, textiles, electronics, and electrochemical applications.
Silver Nanoparticles Market: Key Trends
The rising application scope of silver nanoparticles in healthcare and food and beverages due to its antimicrobial properties is expected to drive the global silver nanoparticles market. Silver nanoparticles improves product shelf life and prevents pathogens from infesting them.
Silver nanoparticles are the most used commercially amongst all nanoparticles and accounted for more than half of the consumption of overall nanoparticles in the recent past. The advanced catalytic and optic properties of silver nanoparticles make them highly suitable for electronic goods. Silver nanoparticles are preferred in various applications including food packaging, wound healing, and plastic bags owing to its ability to destroy bacterial cells and weaken the cell membrane.
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Top beauty products companies around the world are using silver nanoparticles in their products for added offerings. For instance, Dior has introduced a nano-based product ‘Diorskin Forever’ for improved skin. The roll out of differentiator products gives a competitive edge for product manufacturers over their peers, which is leading to the increased demand for silver nanoparticles.
Strict regulations pertaining to the use of silver nanoparticles, particularly in North America and Europe is countering the growth of this market. However, research is underway to find out if silver nanoparticles have a detrimental effect on the environment.
Silver Nanoparticles Market: Market Potential
Nanoparticles are at the forefront of biological research is well established in a recent industry development. Researchers at the University of Michigan and Northwestern University have reported the design and development of the most complex crystal made from nanoparticles.
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The work demonstrates that nanotechnology can bring together materials in new ways, forging new design capabilities. For instance, crystals made of nanoparticles, such as the newly developed ones, can be used to control light – this is because nanoparticles display coordinated interaction with light waves due to their similar sizes.
Silver Nanoparticles Market: Regional Outlook
North America, led by the U.S. is a major regional market for silver nanoparticles. The flourishing food and beverage industry along with regulations to adhere to food safety standards has positively impacted the growth of the regional market. Moreover, clothes sterilization is increasingly being adopted due to the increasing health safety considerations among workers.
In Europe, Germany contributes significant revenue to the regional market due to the growth of the healthcare industry. Moreover, increasing healthcare expenditures combined with regulatory compliances for safe healthcare practices is contributing to the growth of this regional market.
China and South Korea are key contributors to the growth of the Asia Pacific silver nanoparticles market. The presence of some of the top electronic goods manufacturing companies along with favorable FDI policies are the major factors supporting the industry’s growth in the region.
The Middle East and Africa is expected to exhibit significant growth in healthcare and life sciences segment.
Silver Nanoparticles Market: Competitive Landscape
Key participants in the global silver nanoparticles market include Emfutur Technologies, Nanocs, Cima Nanotech, American Elements, NanoHorizons, Nanoshel, Cline scientific, and Applied Nanotech. Some other prominent companies in the market are Bayer, Ames Goldsmith, Meliorum Technologies, and Advanced Nano products.
R&D initiatives and mergers and acquisitions for strong presence across the value chain and for strong distribution networks is among the key growth strategies.
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