The vast expanse of the application landscape of silver nanoparticles industry can be undeniably credited for its growth in the last decade or so. Ranging from healthcare and F&B to electronics and textiles, silver nanoparticles are liberally deployed across numerous verticals on account of their unique thermal, optical, and electrical properties. Indeed, these characteristics have also pushed the implementation of this material in photonic and molecular diagnostic devices. Additionally, given its antibacterial and anti-aging properties, nanosilver is deployed as a prime ingredient in the formulations of various wound dressings and antimicrobial coatings. It is thus rather overt that the medical sector, in the consequential years, will emerge as a crucial end-use domain for silver nanoparticles industry.
North America Silver Nanoparticles Market, By Application, 2017 & 2024, (Tons)
Silver nanoparticles market trends | Healthcare industry
The properties of nanosilver have aided the material to find massive applications in the healthcare space, as is evident from the numerous R&D activities being conducted in this regard. Recently, the Ruhr-Universität Bochum made it to the front page for having developed a unique method to observe the real-time chemical reaction of individual silver nanoparticles that would help study their reaction and degradation in biological as well as ecological systems.
The development of this procedure holds particular significance as it would help minutely analyze the anti-inflammatory and antibacterial effects of silver nanoparticles which would further aid hospitals to resolve the health issues generated due to MRSA infections. A proactive approach like that of the aforementioned is certain to prove beneficial to diagnose critical health issues, further stimulating silver nanoparticles market size from the healthcare sector.
Silver nanoparticles market trends | Electronics & IT industry
Taking into account the optical properties of silver nanoparticles, they have been used extensively to manufacture sensors and other functional components of photonic devices. In fact, silver nanoparticles have been used to generate conductive coatings, molecular sensing, plasmonic antennas, and nanocomposites. The ongoing technological advancements and shifting focus toward the development of nanoelectronic components will thus have a considerable impact on the demand of silver nanoparticles in the electronics industry. More precisely, the increasing implementation of imaging, sensing, and dielectric constants in consumer electronics products is certain to have a transformational influence on silver nanoparticles market size from the electronics and IT sector over the years ahead.
Silver nanoparticles market trends | Food & Beverage industry
The ever-expanding F&B domain and the rising preference for packaged food are also touted to augment silver nanoparticles market, pertaining to product’s antimicrobial property which could increase the shelf life of food and provide protection against foodborne diseases. In the last few years, a part of the global populace has been declining on account of the consumption of contaminated food. As per the CDC (Center for Disease Control and prevention), in the U.S., nearly 76 million people annually are afflicted with foodborne diseases, out of which approximately 325,000 are hospitalized and 5000 lose their lives. The urgent demand to control the occurrence of foodborne diseases is thus likely to boost silver nanoparticles industry share remarkably.
It is rather vital to note that despite the many benefits of silver nanoparticles, the material possesses a certain risk to human health and the environment, on the grounds of which numerous R&D activities are underway to detect an approach that may alter the toxicological effects of silver nanoparticles. For instance, a team of researchers from the China-based Nankai University has recently developed minimally toxic nanoparticles which could be used to remove bacteria in the bloodstream and wounds. The efforts put forth by the scientific turf to resolve the environmental issue associated with silver nanoparticles is thus slated to increase the product demand over the coming years.
The increasing awareness among the regulatory bodies regarding public health and safety and the subsequent implementation of food safety regulations are certain to fuel the revenue potential of silver nanoparticles market. The research community has been getting rather zealous regarding the applicability and capability enhancement of this material as well, which is bound to expand the end-use spectrum of this business sphere in the future. Aided by a favorable regulatory frame of reference and an astonishingly vast application landscape, silver nanoparticles market size has been forecast to surpass a USD 3 billion by the end of 2024.