The Global Silver Nanowires Market Report includes a comprehensive analysis of the present of the market. The report starts with the basic Industry overview and then goes into each and every detail.
According to credible reports, silver nanowires market size is projected to exceed USD 1.5 billion by 2025. Silver nanowire is set to become a prominent component in today’s highly advanced technologies that find significant usage across optical, conductive and anti-microbial applications. This is expected to transform the outlook of global silver nanowires industry in the upcoming years.
The reason silver nanowires are gaining massive traction for various applications is their relatively higher transmission rates and lower resistance. This combination has significantly increased their usability in the electronics sector as it facilitates 10-finger touch, longer battery life and brighter displays that are known to be the critical elements in enhancing the user experience.
In addition, silver nanowires are highly flexible which makes them versatile. Thin and curved silver nanowires are largely used in kiosks, wearables, solar panels, point-of-sale devices, gaming machines, automobile displays and GPS systems. Besides, silver nanowires are cost-effective as compared to other similar materials.
Amid the rapid expansion of electronics industry across the globe, the application of silver nanowires is also increasing enormously which is positively influencing the industry landscape. This is encouraging the manufacturers to develop more advanced solutions that can effectively serve the accelerating product demand. Quoting an instance, in 2020, NanoDirect, a materials science firm involved in developing advanced flexible and printed electronics, announced the launch of Direct Silver, its silver nanowire range. According to the company, this new offering has been designed to be used in highly conductive and transparent electronic coatings and inks used in printed and flexible electronics.
Speaking on the thriving electronics sector, Asia Pacific is known to be a prominent hub of electronics with the strong presence of large chipmakers, semiconductor and consumer electronics companies such as Taiwan Semiconductor Manufacturing Co., Samsung Electronics, Sony, SK Hynix, etc. This makes it a strategically significant region for silver nanowire market.
According to Taiwan’s Ministry of Economic Affairs, production recorded by the domestic electronic components industry increased by 19.33% in 2020 as compared to the previous year. In addition, industrial production across the native optoelectronics and computer industry also increased by 11.02% in 2020 as compared to 2019. These figures provide lucrative growth prospects for silver nanowire market in Asia Pacific.
Apart from electronics, silver nanowires find important applications in medical domain. Their excellent optical characteristics have impelled their application in medical imaging which is used for producing images of various human body parts for treatment and diagnostic purposes. With the significant rise in the incidences of chronic and other serious disorders in the past few years, the deployment of medical imaging technology has tremendously increased.
According to the World Health Organization (WHO) statistics, noncommunicable diseases like heart disease, cancer, chronic lung disease and diabetes are collectively responsible for around 70% of the deaths globally. This is anticipated to propel the demand for X-Ray, Magnetic resonance imaging, endoscopic, tactile imaging, etc. which in turn will drive the adoption of silver nanowires in the subsequent years.
Demand for passenger safety systems to foster automotive plastics applications
Asia Pacific automotive plastics market is slated to witness notable growth, owing to the significant demand for modern automobiles in countries like India, China, South Korea, and Japan. As per the OICA, nearly 25.72 million automobiles, including cars and passenger vehicles were produced in China in 2019. Increasing consumer preference towards automobiles lashed with advanced automotive electronics and passenger safety systems are encouraging industry players to expand their businesses to APAC.
Increasing construction activities to boost APAC acrylonitrile butadiene styrene market growth
On that account, a recent research by Global Market Insights, Inc., anticipates the acrylonitrile butadiene styrene market size to exceed a valuation of USD 39.27 billion through 2027.
Shift towards shatterproof polymethyl methacrylate materials from glass to foster PMMA market for co
PMMA market for construction application in Italy from cell cast sheets & blocks is anticipated to exceed a valuation of nearly $14.5 million by the end of the forecast timeframe. PMMA cell cast sheets, because of their attributes like greater optical clarity, matt surface, gloss, and anti-reflective, are highly used in construction of museum and aquarium casings. Growing demand for PMMA cell casts as a cost-effective alternative for materials including metal, ceramics, wood, and glass for construction application due to greater strength features is likely to foster the overall market growth.
