The global silver nano powder market size is projected to increase rapidly owing to the rising demand for nanosilver particles in the healthcare industry, finds Fortune Business Insights™ in its report, titled “Silver Nano Powder Market, 2022-2029”.
Made of nanosilver particles, silver nano powder is used as an antibiotic in the healthcare industry, and its antibacterial properties are expected to be utilized for a variety of health treatments, which include urinary catheters, bone cementing, oral cavity fillings, and wound dressings. Thus, the versatility of this powder is one of the main factors responsible for driving this market’s growth. Furthermore, the antibacterial properties of nanosilver powder have stoked its adoption in biomedical devices, widening the scope of this market.
However, the increasing usage of substitute products such as copper nano powder and the rise in the prices of silver nano particles are projected to restrain the market growth.
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Market Segmentation
On the basis of form, this market is divided into ultra-high purity, high purity, coated, oleic oil-coated, dispersed, polymer-dispersed, and others. Based on application, the market is classified into healthcare, textiles, electronics, food packaging, chemical, and others. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights/Summary:
This research report offers an in-depth study of the driving factors, restraints, and trends related to the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of all possible market segments.
Drivers/Restraints:
Rising Demand for Silver Nano Powder as a Catalyst to Boost Market Growth
The use of silver nano powder as a catalyst is gaining prominence and the most common application of this powder is in the healthcare industry. The demand for the silver nanopowder has increased due to its effective antimicrobial properties and the transformation in healthcare products, which in turn has resulted in fuelling the growth of this market. For instance, nanosilver powders can be leveraged as antimicrobial agents to make bio-detectors, dental biomaterials, and medical-grade textiles.
On the other hand, despite their various advantages and uses, nanoscale particles can lead to potential health hazards. For example, according to researchers from the United Arab Emirates University, such materials can accumulate in the environment, enter food chains, and infiltrate the bloodstream. Thus, the probable health effects of silver nano and other such powders may create hindrances for this market.
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Regional Insights:
Improving Healthcare Facilities to Accelerate the Asia Pacific Market Growth
Asia Pacific region is expected to dominate the silver nano powder market share owing to the rapid growth and development of the healthcare sector. Notable improvements in health facilities will spur the adoption of nanosilver powder, which is used for diverse operations, such as the treatment of burns and wounds and also as a disinfectant and room spray.
North America is another region anticipated to dominate this market due to increasing demand for silver nano powder in the electronics industry due to its high conductivity and oxidation resistance. Europe is projected to generate lucrative opportunities for market players on account of the rising demand for this powder in the chemical industry, as its catalytic properties make it useful for the production of chemicals such as benzene, dyes, and others.
Competitive Landscape
Introduction of Innovative Solutions by Key Players to Feed Market Competition
Key players are deeply engaged in manufacturing various forms of silver nano powder to widen their offerings to customers. This strategy is also allowing companies to strengthen their portfolios and further expand their market presence, as well as establish a foothold in emerging economies.
List of Key Players Covered in the Silver Nano Powder Market Report:
- American Elements
- Nanoshel LLC
- SkySpring Nanomaterials Inc.
- Sisco Research Laboratories Pvt. Ltd.
- Nanografi Nano Technology
- AUTO FIBRE CRAFT
- Novacentrix
- Hongwu International Group Ltd.
- Oocap Inc.
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