The Silver Nanoparticles Market is projected to surpass $5.5 billion by 2027, says Global Market Insights Inc.
SELBYVILLE, Del., July 15, 2021 /PRNewswire/ -- Based on a Global Market Insights Inc. report, the global Silver Nanoparticles Market was estimated at $2 billion in 2020 and is slated to exceed $5.5 billion by 2027, registering a CAGR of 14.5% from 2021 to 2027.
SELBYVILLE, Del., July 15, 2021 /PRNewswire/ -- Based on a Global Market Insights Inc. report, the global Silver Nanoparticles Market was estimated at $2 billion in 2020 and is slated to exceed $5.5 billion by 2027, registering a CAGR of 14.5% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size and competitive scenarios.
The product demand from food & beverage applications surpassed USD 200 million in 2020 and should further grow owing to the effectiveness of silver nanoparticles in maintaining food freshness and as an antibacterial deodorant.
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The global silver nanoparticles market from healthcare & life science applications should surpass USD 2 billion by 2027. These products offer various benefits such as efficient antimicrobial action and low toxicity compared to conventional bactericides, boosting product incorporation in auto-sanitizing medical devices. Growing consumer awareness of the importance of health along with rising spending on healthcare owing to increasing disposable incomes is likely to trigger market growth.
The silver nanoparticles market from textile applications is likely to register over 7.3% gains in the predicted period. These products are extensively used as sustainable coloring agents in the textile sector on account of their high color stability. The rising spending capacity, evolving lifestyle patterns, and expansion of the fashionable apparel industry should accelerate silver nanoparticles market growth.
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Europe surpassed USD 560 million in 2020 and should witness healthy growth over the forecast period. The presence of a growing elderly population segment in the region has significantly increased the demand for health services. The healthcare sector is likely to witness the adoption of innovative technologies, such as Artificial Intelligence (AI), virtual reality, mobile healthcare, and the Internet of Things (IoT), offering ample growth opportunities for silver nanoparticles. On the other hand, Latin America should surpass USD 145 million by 2027 owing to the expansion of the fashion retail sector, driving textile industry growth.
Key industry participants in the silver nanoparticles industry are BASF, Sigma Aldrich, Nanocs, Advanced Nano Products, NanoHorizons, Inc., and American Elements. Industry players are focused on product development, merger & acquisition, strategic partnership & joint venture, and R&D investment strategies over the long run.
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About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Silver Nanoparticles Market Outlook - 2027
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SOURCE Global Market Insights Inc.
