Portland, OR, Jan. 13, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global silver salt market was estimated at $0.9 billion in 2020 and is expected to hit $2.0 billion by 2030, registering a CAGR of 7.9% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Rise in demand from the medical sector and several end-use industries drives the growth of the global silver salt market. On the other hand, harmful effects associated with the usage of silver salt restrain the growth to some extent. However, increase in usage of silver salt in the ceramic and weather modification industry is projected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic has given way to a steep incline in demand for silver salts in the form of nanoparticles for various medical & medical devices applications, which in turn, has impacted the global silver salt market positively.
- This trend is quite likely to continue post pandemic as well.
The global silver salt market is analyzed across type, application, and region.
Based on type, the silver iodide segment accounted for more than one-fourth of the total market share in 2020, and is expected to rule the roost by 2030. The silver bromide segment, on the other hand, would garner the fastest CAGR of 9.7% throughout the forecast period.
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Based on application, the medical & medical devices segment and chemical manufacturing segment contributed to nearly two-fifths of the total market revenue each in 2020, and are projected to lead the trail by 2030. The medical & medical devices segment alone, however, would exhibit the fastest CAGR of 9.0% during the forecast period.
Based on region, the market across Asia-Pacific held the major share in 2020, garnering around half of the global market. The same region would also manifest the fastest CAGR of 8.1% throughout the forecast period. Other provinces studied in the report include North America, LAMEA, and Europe.
The key market players analyzed in the global silver salt market report include ACHEMTEK, ALFA Chemistry, ALFA AESAR, Yogi Dye Chem Industries, American elements, ABCR GmBH, BOC Science, Finetech Industry, Micron Platers, and Metalor Technologies. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
