LONDON--(BUSINESS WIRE)--The global silver nanoparticles market is projected to grow at a CAGR of nearly 16% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global silver nanoparticles market for 2017-2021. Based on the end-users, the market is divided into healthcare and life sciences, clothing and textiles, electronics, and food and beverages segments.
The global silver nanoparticles market is anticipated to grow at a steady rate during the forecast period backed by increasing demand from the healthcare and life sciences segment. The demand for nanosilver is on the rise due to the antimicrobial properties that it offers. Some of the driving factors for the market include increasing production of applications necessitating miniature electronic systems, applicational benefits of silver nanoparticles on a wide range of applications, and antimicrobial properties of silver nanoparticles.
Technavio’s research study segments the global silver nanoparticles market into the following regions:
- Americas
- EMEA
- APAC
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Silver nanoparticles market in the Americas
“The Americas occupied a majority 42% of the market in 2016 due to increasing demand from the healthcare and electronics industries. The region offers a mature market for the consumption of electronics that use silver nanoparticles, thereby translating into an increased demand,” says Kshama Upadhyay, a lead analyst at Technavio for metals and minerals research.
Silver nanoparticles are increasingly used in printed electronics. Some of the important types of synthesis of particles of silver prevalent in the market include chemical synthesis, bacterial-induced synthesis, fungal-derived synthesis, plant-mediated synthesis, and light synthesis. The factors contributing to the growth of the market are the increased demand for ready-made and processed food containing silver nanoparticles, increased importance, and awareness for sterilized clothes.
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Silver nanoparticles market in EMEA
By revenue, silver nanoparticles market is expected to reach USD 645.48 million by 2021. The market in this region is expected to grow at a moderate pace during the forecast period, with the demand for silver nanoparticles predominantly driven by the increased demand for water treatment, personal care products, and detergents.
In Europe, countries such as Germany significantly contribute to the growth of the market owing to the growth of the healthcare industry. The increased focus on the healthcare industry considering disinfecting medical equipment and wound healing has also fueled the demand. Additionally, rising healthcare expenditures for safe healthcare practices expands sales and fuels the market growth.
Silver nanoparticles market in APAC
“APAC is estimated to be the fastest-growing segment of the market, driven by the robust growth of the electronics industry in the region. China and South Korea are among the leading countries considering increasing consumption of electronics, thereby directly favoring the market,” says Kshama.
Developing economies such as China and India have strengthened the market in the region. For instance, Samsung emerged as the first company in the region to incorporate silver nanoparticles into its products. Consequently, an antibacterial technology named Silver Nano that involved the use of silver nanoparticles was introduced by the company.
The top vendors in the global silver nanoparticles market highlighted in the report are:
- Cima NanoTech
- Cline Scientific
- EMFUTUR
- Meliorum
- NanoHorizons
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