Silver nanoparticles market likely to gain sizeable revenue from textiles
With metal nanoparticles setting the trend in a slew of consumer goods, such as textiles, food, pastes and soaps, silver nanoparticles have gained popularity owing to its chemical, physical and biological attributes. In a bid to boost their market value, stakeholders are poised to infuse investments in silver nanoparticles that have earned the reputation of being non-toxic and having low cost vis-à-vis platinum and gold.
With the highest degree of commercial value, silver nanoparticles have attracted the interest of textiles, food & beverage, electronics and healthcare industry players. For instance, antifungal activities have made them immensely prominent in a slew of medical and consumer products, including medicine, cosmetics, food, soaps and plastics.
In the recently compiled research report by Global Market Insights, Inc., silver nanoparticles market size has been projected to surpass US$3 bn by 2024.
Trends stemming from cosmetics
Silver nanoparticle is emerging as a fastest growing market in cosmetics as the nanoparticle prevents contamination of bacterial and fungi with pathogenic contamination. Silver nanoparticles are also being used in dyeing of cosmetic foundations, lipsticks, eyebrow pencils and powders.
Silver nanoparticles are also foraying into oral care gels and toothpaste to prevent the growth of bacteria which tend to cause stinking oral smells and dental cavities.
Paints and coatings are also becoming a lucrative portfolio as coatings containing silver nanoparticles are being used in automotive, hygiene and construction industries. Application of nanoparticles has played instrumental role in protecting the product against UV radiation and corrosion. Notably, silver nanoparticles with coating are being sought-after for they have disinfectant and antibacterial properties.
Pharmaceutical application spurs growth
Silver nanoparticles have been gaining impetus in pharmaceutical application as these nanoparticles show a wide spectrum of antiviral, anti-tumor, anti-bactericidal, and antiangiogenic properties.
Silver nanotechnology is also being used in orthopedics on the heels of its antimicrobial properties and is being used in bone cement, trauma implants and hydroxyapatite coatings to ward off biofilm formulation. Stakeholders may be inclined to invest in healthcare space to fuel the growth in silver nanoparticles market.
Opportunities in food and beverage
With traction for silver nanoparticles becoming more evident in food and beverage application, there are opportunities up for grabs for stakeholders in the industry. In recent years, silver nanoparticles are being used in a myriad of sub-segments, including food packaging, food supplements, and functional food ingredients.
Stakeholders may eye to infuse funds in textile applications, including clothing, furnishing, and housing as silver nanoparticles can reduce bacterial growth on the textile. Use of silver nanoparticle as compared to conventional nanoparticles is likely to be ramped up to reduce or prevent bacterial infections.
With expanding food and beverage industry in North America, the region appears well placed in the silver nanoparticles market outlook. Food manufacturers will use silver nanoparticles to ward off augmentation of undesirable microorganisms and boost the bioavailability of the nutritional components.
Environmental effect: a potential challenge
Penetration of silver nanoparticles in the environment may lead to degradation effects, thereby increasing toxicological concerns. As such, stakeholders have upped their investment in research and development activities to measure the potential risks of nanoparticles.
With thousands of tons of silver nanoparticles produced each year globally, its use in food packaging, pharmaceutical, textiles, coating and cosmetics will surge by leaps and bounds in the next five years. Industry analysis has made an optimistic estimate and projects use of nanoparticles to proliferate considerably in North America.
Source: https://www.gminsights.com/industry-analysis/silver-nanoparticles-market
