Nanosilver Market poised to gain traction from textile portfolio
Selbyville, Delaware, United States, October 7 2020 (Wiredrelease) Global Market Insights, Inc –:Recent years have witnessed profound traction for silver nanotechnology, thereby boosting nanosilver market value. A wide range of end-use applications, including food & beverage, water treatment, healthcare and textile has instilled confidence among stakeholders to expand their footfalls in untapped areas.
Nanosilver has gained impetus in the healthcare offerings for it is said to have a medicinal value, attributed to its antifungal, antibacterial, antiviral, anticatalytic and antiprotozoal features. Global Market Insights, Inc., has projected nanosilver market size to surpass US$3.3 billion by 2024.
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Some of the industry dynamics and trends which are poised to have an influence on business strategies are delineated below:
Notable trend in healthcare
In a bid to contain the healthcare-associated infections (HAI), stakeholders perceive nanosilver as a novel approach to reduce the potential risk of the pathogen transmission between healthcare workers and patients.
Emerging as a fascinating domain, nanosilver particles are setting the trend in medical applications, including diagnosis, wound dressing and pharmacological treatment. Nanosilver will continue to attract attention on the heels of antimicrobial spectrum and the ability to kill almost all types of bacteria in its proximity.
The advancements in the manufacturing techniques of nanosilver particles are likely to attract the attention of a myriad of industries eager to exploit the innate properties of nanosilver.
Nanosilver Market | Infusion of funds in textiles poised to drive growth
Of late, textiles coated with nanosilver have gained traction in both medical and non-medical applications. Buoyed by nanosilver’s innate properties, including UV protection, dirt and water repellents, wrinkle resistance and breathability, textile manufacturers have exhibited increased traction towards the particles.
Textile segment is likely to expand at an impressive CAGR of around 13% through 2024, mainly attributed to its nanomaterials which are added to the textiles during the fiber production or during the finishing. For instance, nano titanium dioxide has gained popularity for UV protection and researchers are looking into its antibacterial properties by amalgamating nanosilver with nano titanium dioxide.
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Unlocking growth opportunities in North America
Forward-looking companies are eyeing to expand their offerings in the U.S., Canada and Mexico as leading companies continue to boost their portfolios in North America. It is pertinent to mention that nanosilver particles are highly sought-after in healthcare industry and electrical and electronics industries.
Presence of major companies in the region has furthered the nanosilver industry outlook as stakeholders are poised to pour funds in the region. North America nanosilver market share was pegged at over 40% in 2016, similar growth trajectory is likely to be witnessed through 2024.
Stakeholders also perceive biological or green synthesis to boost revenue generating opportunities as biologically synthesized nanosilver particles are environmentally friendly. Besides, chemical synthesis is also expected to gain traction among to the end-markets.
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