Portland, OR, Nov. 09, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global silver nanoparticles market accounted for $1.8 billion in 2019, and is expected to hit $4.1 billion by 2027, registering a CAGR of 15.7% from 2020 to 2027.
Increase in demand for silver nanoparticles in food & beverage, electronics & IT, hospitality, and textile sectors drives the growth of the global silver nanoparticles market. However, availability of substitutes hampers the market growth. On the contrary, surge in R&D activities for use of particles in various industries would open new opportunities for the market players in the future.
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Covid-19 scenario:
- To curb the spread of infection, governments of various countries implemented the shutdown of manufacturing factories, which resulted in a sharp decline in the production of silver nanoparticles.
- The pandemic has disrupted the supply chain and decreased sales of silver nanoparticles. Thus, major market players have been formulating contingency plans.
The global silver nanoparticles market is segmented on the basis of synthesis method, shape, application, and region. Based on synthesis method, the market is categorized into wet chemistry, ion implantation, and biological synthesis. The biological synthesis segment is expected to portray the highest CAGR of 16.4% during the forecast period. However, the wet chemistry segment held the largest share in 2019, accounting for around half of the market.
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On the basis of shape, the market is classified into spheres, platelets, rods, colloidal silver particles, and others. The colloidal silver particles segment is estimated to register the highest CAGR of 16.5% during the forecast period. However, the spheres segment held the lion’s share in 2019, contributing to around two-fifths of the market.
The global silver nanoparticles market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is projected to manifest the highest CAGR of 16.2% from 2020 to 2027. However, the market across North America dominated in 2019, holding around two-fifths of the total revenue.
The global silver nanoparticles market report includes an in-depth analysis of major market players such as Ames Goldsmith Corporation, Meliorum Technologies, Inc., Applied Nanotech, American Elements, ANP Corporation, BBI Solutions, BASF, Cima NanoTech, Cline Scientific Ab, and NanoComposix.
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