- The nanosilver market is likely to witness significant growth. It is likely to grow at around USD 1,845.5 million by 2020. This is due to increasing demand for industrial silver from different consumer industries. Also, increasing antimicrobial applications in pharmaceuticals and medical sectors are likely to boost the demand for the nanosilver market.
For Market Research Report on “Nanosilver Market” Visit – http://www.radiantinsights.com/research/global-nanosilver-market-size-regional-outlook-application-analysis-competitive-insights-and-forecasts-2014-to-2024
The pivotal factors driving the market are the increasing consumer electronics industries and rising demand for antimicrobial coatings in various applications. However, high prices of traditional silver and environment concerns regarding the harmful effects of nanosilver are likely to restrain the market over the coming years.
The nanosilver market can be bifurcated into consumers and geographies. The market, on the basis of consumers, can be divided into healthcare, textiles, electronics & electricals, water treatment and food & beverages. Electronics and electricals dominated the nanosilver market and captured about 34% share in 2013.
Geographically, the nanosilver market can be fragmented into four key regions, including North America, Asia Pacific, Europe and ROW (rest of the world). North America dominated the market on account of the increasing healthcare and electronic sectors in the region. It was followed by Europe and Asia Pacific.
Asia Pacific is expected to show huge growth for the nanosilver market during the forecast period. This is due to increasing applications of nanosilver in the emerging markets of China and India. Also, increasing healthcare and electronics sectors and improved infrastructure are likely to propel the nanosilver market over the coming years. Additionally, rising pharmaceutical sectors in the world are likely to create huge opportunities for the nanosilver market.
Information Source: Radiant Insights
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