LONDON--(BUSINESS WIRE)--The global silver nitrate market is expected to post a CAGR of close to 4% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the global silver nitrate market is the superior properties of silver nitrate. Silver nitrate is an inorganic compound that is used to produce silver derivatives and many essential chemical products owing to its superior physical and chemical properties. It is water soluble and highly hygroscopic in nature and it has antiseptic, antibacterial, and antifungal properties. Therefore, it is widely used in the medical and pharmaceutical industries. Silver nitrate is also extensively used in laboratories as an analytical reagent, catalyst, and organic staining agent, thanks to its superior chemical properties. Thus, these superior properties of silver nitrate are major factors for its use in commercial and industrial applications.
This market research report on the global silver nitrate 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
In this report, Technavio highlights the increased medical applications of silver nitrate as one of the key emerging trends in the global silver nitrate market:
Global silver nitrate market: Increased medical applications of silver nitrate
Owing to its antiseptic and antibacterial properties, silver nitrate has several medical uses including wound closure. It is used in ointments and sprays in wound care applications to remove debride hyper granulation tissue or calloused rolled edges in wounds. Silver nitrate is also used to cauterize blood vessels in the nose to prevent nose bleeding. It is also used to cure verruca, granulation tissue, wound healing, stoma maintenance, anterior epistaxis, skin tags, and pain relief for aphthous stomatitis. Thus, the increased demand for silver nitrate to manufacture medical products such as ointments due to its antiseptic properties can propel the market during the forecast period.
“Apart from the increased medical applications of silver nitrate, the global silver nitrate market is also expected to be positively influenced by the increased demand for silver nitrate in photography and jewelry applications owing to its superior physical and chemical properties,” says a senior analyst at Technavio for research on specialty chemicals.
Global silver nitrate market: Segmentation analysis
This market research report segments the global silver nitrate market by application (photography and jewelry, medical and healthcare, and analytical reagents) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2017 with a market share of close to 42%, followed by APAC and EMEA respectively. Although the APAC held the market share of less than the Americas in 2017, it is expected to register the highest incremental growth during the forecast period.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
