San Francisco, California, May 19, 2015 (GLOBE NEWSWIRE) -- Global silver nanoparticles market is expected to reach USD 2.45 billion by 2022, according to a new study by Grand View Research, Inc. Rising demand for antimicrobial materials in healthcare applications is expected to drive silver nanoparticles market over the forecast period. Development of high-end electronics coupled with growing demand for gadgets is expected to promote silver nanoparticle market growth over the next seven years.
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Healthcare was the largest application segment, accounting for over 30% of global silver nanoparticles market revenue in 2014. Growth of the healthcare market on account of growing consumer awareness regarding general well-being, increasing geriatric population and rise in disposable income is expected to augment silver nanoparticles market. Increasing demand for antimicrobial textiles on account of rising consumer awareness regarding hygiene is anticipated to stimulate market growth.
Further key findings from the study suggest:
- Increasing application scope of silver nanoparticles in transparent conductors, which are widely used in touch screens, LED & OLED display and lighting coupled with growing demand for high-end gadgets is expected to drive market growth
- North America dominated the global silver nanoparticles market in 2014 accounting for over 35% of the market in terms of volume and the trend is anticipated to continue over the forecast period. Rising awareness regarding prevention of hospital acquired diseases is expected to play an important role in promoting silver nanoparticles use in medical devices & equipment and textiles
- Increasing application scope of silver nanoparticles in children's toys in order to reduce spread of diseases by minimizing surface antimicrobial activities is expected to open new opportunities for market growth over the forecast period
- Emergence of nanofinished textiles for odor control and curb growth of infection causing bacteria is expected to propel silver nanoparticles market demand
- Presence of stringent regulatory framework, particularly in North America and Europe, is anticipated to hamper silver nanoparticles market. Furthermore, numerous studies have been undertaken to ascertain harmful effects of nanosilver to the environment, which is further anticipated to restrain market growth.
- Key players present in the global silver nanoparticle market include Emfutur Technologies, Meliorum Technologies Inc, Nanoshel, NanoHorizons and Cline Scientific AB. The market is characterized by companies developing proprietary manufacturing technologies. For instance, Cima Nanotech developed SANTE (Self Assembling Nanotech Technology), an innovative self-assembling coating material.
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For the purpose of this study, Grand View Research has segmented the global silver nanoparticles market on the basis of application and region:
Global Silver Nanoparticles Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
- Electronics & electrical
- Food & beverages
Global Silver Nanoparticles Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
- North America
- Latin America
- Asia Pacific
- South Korea
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Source:Grand View Research