Silver Nanowires Market to Register Growth At A CAGR Of 9% By 2035
Research Nester’s recent market research analysis on
“Silver
Nanowires Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a
detailed overview of the global silver nanowires market in terms of market
segmentation by fabrication techniques, application, and by region.
World
Wide Demand for Electronic Devices That Exhibits High Energy Efficiency and
Performance to Promote Global Market Share of Silver Nanowires Market
The
demand for electronic devices that could exhibit excellent performance with a
profitable consumption of energy is the major factor thought to drive the
market growth during the forecast period. The transparent conductive film is an
inevitable component in many electronic devices used by consumers during the
present times. These films are manufactured using several raw materials, of
which one of the most prominent is silver nanowires. Wearable electronics,
smartphones, and tablets are all devices that use silver nanowires for their
transparent conductive film. The high conductivity of silver nanowires ensures
that the incorporation of these transparent conductive films enhances the
performance of these electronic devices while making them more energy efficient.
Some of the major growth factors and challenges
that are associated with the growth of the global silver nanowires market are:
Growth Drivers:
·
Considerable Increase in
the Spending on Research
·
Large-scale Adoption of
Energy Sources for Renewable Energy
Challenges:
One of the major factors that should hinder market
growth during the forecast period is the very high cost of silver nanowires.
Silver nanowires are mostly used in the manufacturing of transparent conductive
materials. However, silver nanowires are often replaced by alternatives such as
indium tin oxide (ITO) as a result of their high pricing. This large-scale
replacement of silver nanowires with other raw materials for the manufacturing
of transparent conductive materials for electronic devices is thought to affect
market growth adversely. The insufficient availability and the difficulties in
sourcing silver nanowires might also restrict the global market size for silver
nanowires.
By
application, the global silver nanowires market is segmented into optical,
chemical, anti-microbial, and thermal. Of these, the chemical application is
expected to contribute to the market growth the most. The chemical application
is expected to hold the largest share of market revenue, amounting to 35% by
the end of the forecast period. One of the major chemical applications of
silver nanowires is in the manufacturing of solar cells. The demand for
renewable energy is the major driving force behind the growth of the
application. Further, the rise in funding for research and development (R&D)
is boosting the use of silver nanowires in energy storage, biomedicine, and
other chemical applications.
By region, the Asia Pacific silver nanowires
market is to generate the highest revenue by the end of 2035. This growth is
anticipated by the wide use of consumer electronics all through the region. The
presence of the largest producers of electronics, such as Japan, China, and
South Korea, should contribute considerably to Asia Pacific's projected revenue
share of 35% in the market by 2035. China Academy of Information and
Communications Technology estimated the smartphone shipments of the country
during the first quarter of 2021 at 365 million units, with a year-on-year
growth of 66%. Further, the regional market should also benefit from growing
investments in R&D, a large manufacturing sector, and favorable government
policies.
This
report also provides the existing competitive scenario of some of the key
players of the global silver nanowires market which
includes company profiling of Cambrios
Technologies Corporation, C3Nano, Seashell Technology LLC, Nanopyxis
Corporation, Blue Nano Inc., RAS AG Materials, NanoComposix, Saint-Gobain S.A.,
Carestream Advanced Materials, ACS Material LLC, and others.
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