Nano Silver Market: By Method of Synthesis (Biological Synthesis, Chemical Reduction, and Physical Synthesis), By End User (Clothing & Textiles, Electrical & Electronics, Food & Beverage, Personal Care & Cosmetics, Pharmaceuticals, Water Treatment, and Others)  and by Geography  

Nano Silver Market size was valued at USD 434 million in 2022 and is expected to reach USD 1,608 million by 2028, supported by a significant CAGR of 20.6% from 2023-2029. In the next six years, the worldwide nanosilver market is predicted to rise due to industrial silver demand from various end-use industries. Market growth is likely to be fueled by rising antimicrobial applications in the pharmaceutical and medical sectors, as well as rising consumer electronics usage. Nanosilver's superior features, such as its small size, high conductivity, and thermal and antibacterial capabilities, have led to increased use in products like water and air purifiers, hair dryers, washing machines, socks, pharmaceuticals, medical equipment, and food packaging. Over the projected period, expanding application scope is expected to be a key driver for the market. Increasing use of nano silver in consumer electronics, outstanding antimicrobial properties of nanosilver, growing expenditure on healthcare, miniaturization of printed sensors and increasing demand for superconductors are some key factors influencing the market growth.

However, factors such as high product prices and stringent regulations formed against product use are hampering the market growth.The major methods used for silver nanoparticle synthesis are the physical and chemical methods. The problem with the chemical and physical methods is that the synthesis is expensive and can also have toxic substances absorbed onto them. Hence, high costs of nano silvers hampers the market growth. Global nano silver market is surging owing to frequent acquisitions and launchings by the market players. For instance, in Mar 2014, NovaCentrix acquired PChem to effectively utilize its nanosilver ink technology to further expand its customer base and improve its profitability in the industry.