According to Global Market Insights Inc., the market for silver nanoparticles is expected to exceed $ 5.5 billion by 2027.
Technological advances in the healthcare sector, the increasing adoption of targeted drug delivery, and increasing demand for antimicrobial food packaging should fuel market growth, the report said
SELBYVILLE, Del., July 15, 2021 / PRNewswire / – Based on a report by Global Market Insights Inc Silver nanoparticle market was estimated at $ 2 billion in 2020 and should be exceeded $ 5.5 billion until 2027, registration a CAGR of 14.5% from 2021 to 2027. The report provides an in-depth analysis of key investment routes, key profit strategies, drivers and opportunities, fluctuating industry trends, market estimates, and size and competition scenarios.
Product demand from food and beverage applications was exceeded $ 200 million in 2020 and should continue to grow due to the effectiveness of silver nanoparticles in keeping food fresh and as an antibacterial deodorant.
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The global market for silver nanoparticles from healthcare and life sciences applications should outperform $ 2 billion by 2027. These products offer various advantages such as an efficient antimicrobial effect and low toxicity compared to conventional bactericides, which promotes product integration in automatically disinfecting medical devices. Growing consumer awareness of the importance of health, as well as rising health expenditure due to rising disposable incomes, are likely to trigger market growth.
The market for silver nanoparticles from textile applications is likely to grow by over 7.3% in the forecast period. Due to their high color stability, these products are widely used as sustainable dyes in the textile sector. The rising purchasing power, evolving lifestyle patterns, and the expansion of the fashionable apparel industry should accelerate the growth of the silver nanoparticle market.
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Europe exceeded $ 560 million in 2020 and should see healthy growth over the forecast period. The presence of a growing elderly segment of the population in the region has significantly increased the demand for health services. The healthcare sector is likely to see the introduction of innovative technologies such as Artificial Intelligence (AI), Virtual Reality, Mobile Healthcare, and the Internet of Things (IoT), which offer ample growth opportunities for silver nanoparticles. On the other hand, Latin America should surpass $ 145 million by 2027 due to the expansion of the fashion retail sector, which is driving the growth of the textile industry.
Key industry participants at the Silver nanoparticle industry are BASF, Sigma Aldrich, Nanocs, Advanced Nano Products, NanoHorizons, Inc. and American Elements. The industry players focus on product development, mergers and acquisitions, strategic partnerships and joint ventures, and long-term investment strategies for research and development.
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About Global Market Insights Inc.
Global Market Insights, Inc., based in Delaware, USA, is a global market research and consulting service provider. Global Market Insights, Inc. provides syndicated and custom research reports, growth consulting, and business intelligence services, and aims to provide customers with pervasive insights and actionable market data to aid in strategic decision-making.
GMIPulse, our business analytics platform, provides an interactive online option to explore our proprietary industry research data in a user-friendly and dynamic way. Customers can explore market intelligence in 11 top-level categories and hundreds of industry segments, covering regional, company and cross-sectional statistics that make our offering a standout for decision makers.
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Silver Nanoparticle Market Outlook – 2027
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SOURCE Global Market Insights Inc.
