Nanosilver Market to hit $3.3bn by 2024

Global Market Insights, Inc

OCEAN VIEW, Delaware, October 17, 2017 /PRNewswire/ --

Nanosilver Market share is poised to surpass USD 3.3 billion by 2024; according to a new research report by Global Market Insights, Inc. Robust demand for anti-microbial coating across food & beverage industry, healthcare, consumer applications, personal care, etc. will boost nanosilver market size. This is chiefly due to anti-microbial properties possessed by product which helps across several applications in the aforementioned industries. For instance, in the medical industry, product is used to manufacture tubes, bandages, ointments, etc.

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Sturdy growth in nano-technology based consumer electronics in North America will help in attaining promising gains in the nanosilver market size in the coming years. It is extensively used in manufacturing electronic devices & equipment owing to its high thermal & electrical conductivity in inks, pastes and adhesives. Increasing demand for superconductors is expected to bolster growth of the nanosilver market which is credited to space restraints which is otherwise required for conventional cables. In addition, demand for nanosilver inks is growing due to need for higher resolution ink required in printed electronics, especially in gravure, inkjet and flexographic printing. These trends are anticipated to make noteworthy contribution to nanosilver market size.

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Strict laws and standards formulated by the U.S. EPA, FIFRA and other regulatory agencies against product applications due to its harmful implications on environment & human health will obstruct nanosilver market size. In addition, high product cost will be another factor which is likely to hinder nanosilver market size.

Nanosilver market size for physical mode of synthesis attained a prominent industry size which is anticipated to rise at a moderate rate by 2024. In physical mode, it is synthesized by evaporation and condensation which is carried using tube furnace at atmospheric pressure. However, this mode is not preferred for product generation as tube furnace occupies large space and consume large amount of energy which needs significant amount of time to achieve thermal stability. Biological and chemical reduction mode of synthesis are usually preferred owing to several advantages including cost-effectiveness, energy efficient, etc. which is likely to help propel nanosilver market size in the forecast spell.