Global Nanosilver Market - 2023-2030

Global Nanosilver Market - 2023-2030

Global Nanosilver Market reached US$ 1.5 Billion in 2022 and is expected to reach US$ 6.3 Billion by 2030, growing with a CAGR of 19.5% during the forecast period 2023-2030.

Nanosilver has become increasingly used in products including water and air purifiers, hair dryers, washing machines, socks, pharmaceuticals, medical devices and food packaging due to its superior capabilities, which include small size, high conductivity along with thermal and antibacterial characteristics. The market has potential in specialized industries like solar energy, food and beverage, pharmaceuticals and medicine, which are predicted to drive up demand.

The greatest end-use for nanosilver, accounting for more than 35.2% of the market, is electronics. Important electronics manufacturers including Samsung, LG and Daewoo have nanosilver products available. Healthcare firms Smith & Nephew and Nano Care Technology sell items that include nanosilver. Due to rising demand for medication delivery, pharmaceuticals, creams and lotions, the market is anticipated to expand.

Dynamics

An Increase in Cosmetic and Personal Care Product Production

The rapid growth of nanosilver is due to its anti-microbial, anti-fungal and anti-inflammatory qualities, nanosilver is largely employed as a preservative in cosmetics and personal care products. Nanosilver is used in cosmetics and personal care products to stop the growth of unwelcome bacteria, hence increasing the shelf life of the product.

The International Trade Administration (ITA) reports that South Korea is one of the top ten worldwide beauty businesses, contributing 2.8% of global sales in 2019. In 2019, the market was valued at US$ 9.4 billion, with a 4.9% increase in total local cosmetic output over the previous year. The growth in the cosmetic industry is directly impacting the growth of the nanosilver market in a positive way.

Expansion of the Water Treatment Sector

Killing or preventing the growth of hazardous bacteria in water can be accomplished by using nanosilver as a disinfectant. To improve water purification and lower microbiological contamination, it can be added to filtration systems, membranes or other treatment procedures. So, the demand for nanosilver is increasing in the water treatment sector.

Microorganism colonies called biofilms grow on surfaces that are submerged in water. As a result, water treatment systems may clog and perform less effectively. In order to preserve the efficiency of water treatment machinery, nanosilver-coated surfaces or nanosilver dispersions can aid in preventing the growth of biofilms.

Additionally, work on the construction of a new wastewater treatment facility in Morocco started in December 2021. In 2023, the facility is expected to start operating. A total of 8 million cubic metres of wastewater can be treated annually at the facility. As a result, it is anticipated that the demand for nanosilver, which is needed to make the filter media and membrane systems utilized in these facilities, will rise as a result of the new development of wastewater treatment plants. In subsequent years, these factors are expected to fuel market expansion.

Concerns about the Toxicity of Nano Goods in the Environment

The utilization of nanoparticles is frequently associated with the production of nano pollution. Nano pollution results from waste or byproducts produced during the production of nanomaterial. The waste and byproducts produced during the manufacturing of nanomaterials may wind up in landfills and damage the air and water supply.

Since it is yet unclear what the entire scope of nano pollution will do to the environment, the development of nanotechnology, including nanosilver, is seen as a growing environmental problem. In addition, prolonged exposure to or inhalation of silver nanoparticles during their production process may result in heart and lung issues.

The development of the nanosilver sector throughout the predicted period may therefore be constrained by these environmental and health issues related to the production of nanomaterials.

Risks Associated with Nanosilver

Nanoparticles, particularly nanosilver, can enter the environment in a variety of ways, including through the usage of products, during manufacturing processes, along with product disposal. The accumulation of these nanoparticles in environments and water sources might interfere with natural processes and have an effect on both terrestrial and aquatic animals.

Numerous nanoparticles, particularly nanosilver, may be damaging to aquatic life and other sorts of life, according to a growing body of studies. Damage to disruption of metabolic functions and cellular structures and consequences for development and reproduction are all possible. Nanoparticle accumulation in species over time may result in bioaccumulation in the food chain.

Risks to human health could come from greater nanoparticle concentrations in predators or higher-order species as a result of this accumulation. Since nanoparticles are relatively new compounds, it is still unclear how they will affect the environment and people's health in the long run. Concerns about the possibility of unanticipated effects in the future are sparked by this ambiguity, which is restraining the nanosilver market growth.

Segment Analysis

The global Nanosilver market is segmented based on form, application, end-user and region.

Rising Demand For Manufacturing of Drugs and Medical Equipment in Healthcare Industry

The healthcare segment held the largest nanosilver market share of 31.8% in 2022 in the nanosilver market analysis report. The growth is due to the increased global manufacturing of drugs and medical equipment.

For instance, the pharmaceutical business in Vietnam is predicted to develop at a rate of 10% annually between 2017 and 2028 as a result of a rise in pharmaceutical production and sales in the nation. According to recent findings from the Indian Economic Survey 2021, the country's domestic pharmaceutical industry is predicted to triple in size over the next ten years.

Additionally, the Mexican medical equipment market was estimated by the International Trade Administration (ITA) to be worth US$16.80 billion in 2020, an increase of 10% from US$15.27 billion in 2019. Additionally, the market for medical devices in Canada was estimated to be worth US$ 8.6 billion U.S. in 2020. All these above-mentioned factors contribute to the growth of the market.

Geographical Penetration

Asia-Pacific Growing with the Demand in Healthcare Industry

Asia-Pacific nanosilver market held the largest market share of 38.3% in 2022 in the nanosilver market analysis. Nanosilver has the potential to be used in medical devices, dressings for wounds and antibacterial coatings—all of which are crucial for wound care and infection control. The growing healthcare infrastructure and advancements in medical technology in the APAC area may be fueling demand for such products.

Due to the rising demand for nanosilver in the healthcare industry, consumption of this metal is particularly high in this region. The Ministry of Health and Family Welfare (MoHFW) received INR 86,200.65 crore in the Union Budget 2022–2023 to enhance the country's healthcare sectors, along with its facilities, goods and services, claims the India Brand Equity Foundation (IBEF).

The General Statistics Office of Vietnam estimates that Vietnam's entire pharmaceutical production was worth US$ 3,484.5 million in 2020, up around 7% from US$ 3,255.6 million in 2019. In addition, the manufacture of pharmaceuticals in Japan was valued at US$87.03 million in 2019, up 39% from the previous year, according to the Ministry of Health, Labour and Welfare (MHLW) of the Government of Japan. All these above-mentioned factors contribute to the market growth.

Competitive Landscape
The major global players include Silvix, NanoMas Technologies, NovaCentrix., Nano Silver Manufacturing, Creative Technology Solutions, Applied Nanotech Holdings., Ames Goldsmith Corporation, Advanced Nano Products., NanoHorizons and Cima NanoTech.

COVID-19 Impact Analysis

The nanosilver market has been positively impacted by COVID-19, majorly due to its demand in the healthcare industry. Preventing the transmission of infection is crucial because COVID-19 is a highly contagious disease and there are currently no viable treatments or vaccines for it. Social seclusion, the use of masks and PPE and the reinforcement of hygiene practices have all been used to try to stop the virus from spreading.

Several companies made investments in nanotechnology-based goods to create efficient cleaning solutions and PPE in this context. According to research, silver nanoparticles are one of the most effective metal disinfectants against bacteria, viruses and other microorganisms and have strong antibacterial properties. Since ancient times, silver has been used to treat illnesses.

The nanosilver market has been positively impacted by COVID-19, majorly due to its demand in the healthcare industry. Many pharma manufacturers employ nanosilver in their product lines. Employing this strategy A Malaysian company named SHEPROS has created a disinfectant called Nano Silver that kills a variety of microorganisms, including viruses, by adversely affecting cellular metabolism and preventing cell growth by suppressing the basal metabolism of the electron transport system.

Nano Silver contains a suspension of silver nanoparticles with a size of 25 nm. This substance is offered for sale and functions as a sanitizer for SARS-CoV-2. Similar to this, a company called Weinnovate Biosolutions, has created an alcohol-free, aqueous-based colloidal silver solution that exhibits antiviral properties by preventing the production of viral negative-strand RNA and viral budding. Other silver-based nanoformulations sold as disinfectants and sanitizers

Russia- Ukraine War Impact

International partnerships and research collaborations were impacted by the Ukraine-Russia conflict. The research institutes or businesses were unable to successfully collaborate due to geopolitical issues, scientific breakthroughs and discoveries within the nanosilver field were hampered. The battle altered consumer buying habits and public image as well as consumer preferences. This had an effect on the market for consumer goods containing nanosilver, such as clothing or cosmetics.

By Product
• Nanosilver Collids
• Nanosilver Particles
• Nanosilver Nanowires

By Synthesis Method
• Physical Method
• Chemical Method
• Biological Method

By Application
• Food Packaging
• Antimicrobial Agents
• Electricals and Electronics
• Healthcare
• Textiles
• Others

By End-User
• Healthcare
Drug Delivery
Medical Devices
Surgical and Wound Care
Others
• Cosmetics and Personal Care
Skin Care
Hair Care
Others
• Electrical and Electronics
Appliances
Semiconductor
Others
• Textile Industry
Casual
Protective
Sports
Others
• Water Treatment
• Food and Beverage
• Solar
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On May 13, 2023, at PCIM Europe 2023, Toyochem, the polymer materials business of the Japanese Toyo Ink Group, unveiled sintering nano-silver pastes specifically designed for power electronics bonding in automotive applications.
• On April 5, 2023, An effective and all-natural substitute for conventional fluoride toothpaste was introduced by Fresh Mouth, a top supplier of dental care products. This new brand of non-fluoride toothpaste contains nanosilver particles.
• On October 29, 2020, POSTsilver, a silver ion antimicrobial film with a 99.9% kill rate for bacteria and viruses, was introduced in Canada through a distribution deal with A2Z Wholesale Inc. of Quebec. A translucent smart polymer called POSTsilver was developed to guard against the retransmission of bacteria and viruses, including COVID-19, on high-touch surfaces.

Why Purchase the Report?
• To visualize the global nanosilver market segmentation based on product, synthesis method, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of nanosilver market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Technology mapping available as Excel consisting of key technologies of all the major players.

The global nanosilver market report would provide approximately 69 tables, 75 figures and 181 Pages.

Target Audience: 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies