Silver Nanoparticles Market expected to reach $6.6 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research titled, “Silver Nanoparticles Market by Synthesis Method, Shape, Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The silver nanoparticles market was valued at $1.5 billion in 2020, and is projected to reach $6.6 billion by 2030, growing at a CAGR of 15.6% from 2021 to 2030.

Silver nanoparticles are ultra-fine particles of silver ranging from 1 to 100 nm. Some of the factors driving the silver nanoparticles market growth are need for energy efficient lighting system alongside expanding penetration of light emitting diode (LED) lighting, increasing demand for antibiotic coatings in healthcare applications, and others. Some of the advantages of silver nanoparticles in antibacterial application are strong sterilization, strong permeability, and others. However, silver nanoparticles are required to have ultra-high purity and ultra-low defects. 

Silver nanoparticles antimicrobial coatings make it effective for use in healthcare and hygienic applications. Silver nanoparticles have a great surface-area-to-volume ratio and are employed in therapeutic applications such as wound dressing, catheter coating, and antibacterial hand gels as they are effective against a wide range of germs. These factors drive the demand for silver nanoparticles, further boosting growth of the market. To control the properties of silver nanoparticles, the manufacturing process must be reliable along the atomic length scale. For instance, silver nanoparticles require high purity and achieving this purity level requires materials to be processed at elevated temperatures & pressures, large amount of organic solvents, or under a controlled environment. This results in a significant overall cost of production for silver nanoparticles. In addition, the concerns regarding the impact of silver nanoparticles on human health and the environment nanomaterials, and stringent government environmental regulation are some of the factors hindering the market growth.

The silver nanoparticles market is segmented on the basis of synthesis method, shape, application, and region. Based on synthesis method, the silver nanoparticles market is categorized into wet chemistry, ion implantation, and biological synthesis. On the basis of shape, it is divided into sphere, platelet, rods, and colloidal silver particles and others. Various application of silver nanoparticles studied in the report are healthcare and life sciences, textiles, electronics and IT, food and beverages, pharmaceuticals, cosmetics, water treatment, and others. On the basis of region, the silver nanoparticles market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). The silver nanoparticles market share is analyzed for all main regions and segments.

On the basis of synthesis method, wet chemistry segment holds the highest share of the silver nanoparticles market in 2020 in terms of volume and revenue and the trend is expected to continue during the forecast period. Though wet chemical synthesis method uses harmful chemicals for production of silver nanoparticles but desired shape and morphology is obtained by using this method.

In 2020, electronics and IT was the largest application with around 28.9% volume share, followed by pharmaceuticals, Textile, healthcare and life science. This is attributed to factors such as increased demand for conductive inks for flexographic printing and inkjet.

In 2020, North America accounted for dominant share of the worldwide demand for silver nanoparticles and is expected to maintain their lead position throughout the forecast period. This is attributed to factors such as presence of established consumer base such as healthcare, rise in investment in R&D activities, and presence of key players in the region.

The silver nanoparticles market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the silver nanoparticles market include Nano Products, American Elements, Ames Goldsmith, Cerion LLC, Dune  silver, E. Merck KG, Meliorum, MKnano (M K Impex Corp.), Nanocomposix, Nanocs Inc., Nanogap Sub-nm-powder, S.A., NANOGRAFI Co. Inc., Nanopure, Nanoshel, Novacentrix, PEN Inc., Prime Nanotechnology Co.,Ltd., Strem, Tecnan, Thermo Fisher Scientific, and US Research Nanomaterials Inc.

Other players in the value chain of the silver nanoparticles market are Emfutur Technologies, Bayer, BASF, BBI Solutions, Sukgyung AT Co., Ltd., QuantumSphere, Inc., KCIL-NanoXpert Technologies, Microspheres-Nanospheres, and others.

Key Findings Of The Study

• The silver nanoparticles market is analyzed from 2020 to 2030
• On the basis of region, the North America silver nanoparticles market gained a share of 40.4% in terms of revenue in 2020
• The electronics and IT application garnered a share of 30.5% in terms of volume in 2020
• On the basis of shape, the sphere segment gained a share of 40.6% in terms of volume in 2020
• On the basis of synthesis method, the wet chemistry segment gained 50.6% share, in terms of volume in 2020
• A comprehensive analysis of the factors that drive and restrain the market growth is provided in the report
• The qualitative data in this report aims at the market dynamics, silver nanoparticles market trends, and developments in the industry
• The silver nanoparticles market size in provided in terms of volume and revenue

Impact Of Covid-19 On The Silver Nanoparticles Market

• The outbreak of COVID-19 in China and its spread across numerous countries globally halted the manufacturing activities of industrial sectors, which correspondingly hampered silver nanoparticles manufacturing as well.
• The raw material procurement was also challenged owing to the outbreak of COVID-19.
• The COVID-19 pandemic is expected to have significant impacts on industrial participants operations, indirectly and directly, with respect to customer behaviors, labor shortages or stoppages, inventory, sales, business and manufacturing operations, and others. 
• As per the companies operating in the market, there are numerous uncertainties about the COVID-19 pandemic, comprising the scope of scientific and health problems, the expected period of the pandemic, and the political, and economic disturbance it might cause. 
• Manufacturing as well as the supply regions witnessed economic slowdown owing to lockdown.
• The food industry witness increase in sales and profit. Consumers were increasing inventories as much as possible in March 2020 during the initial phase of the pandemic. This increased the demand for silver nanoparticles from the food industry.
• The COVID-19 pandemic further boosted demand for chips in laptops and data centers, because of sudden increase in activities, such as internet shopping, gaming, conference calling, and work from home. This resulted in increased demand for silver nanoparticles from the electronics industry.
• The manufacturing as well as supply regions or countries witnessed economic slowdown owing to lockdown. The downstream section of the value chain i.e. the end user has witnessed less demand, which has impacted the market growth. For instance, the electronics sector has been witnessing slow down owing to decreased consumer electronics sales that resulted in decreased demand for raw materials consequently impacting the demand for silver nanoparticles.