Silver Nanowires Market Fuels By Enhanced Optical Properties

Posted 2024-02-05 10:29:13

The global silver nanowires market is an advanced nanomaterial with the potential to revolutionize many industries including electronics, energy, and healthcare. Silver nanowires have high electrical and thermal conductivity and can be grown to lengths over 150 micrometres with diameters ranging from 30-120 nanometres. These superior properties make silver nanowires ideal for use in touch panels, flexible displays, heaters, biosensors and water purification systems.

The Global Silver Nanowires Market Size is estimated to be valued at US$ 170.57 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Rising Demand from Touch Panels and Flexible Displays: Silver nanowires are widely used in fabricating transparent electrodes required for touch panels and flexible displays owing to their superior optical and electrical properties compared to other materials like indium tin oxide. They provide high conductivity and flexibility necessary for next generation displays. With growing demand for touch-enabled consumer electronics and wearables, the usage of silver nanowires in touch panels and flexible displays is expected to rise significantly over the forecast period.

SWOT Analysis

Strength: Silver nanowires have electrical and thermal conductivity superior to copper. They are flexible and lightweight making them ideal for applications requiring bendability and transparency such as wearable electronics, touchscreens and solar panels. Silver nanowires can be produced through a simple wet chemical synthesis method reducing manufacturing costs compared to other materials like indium tin oxide.

Weakness: The synthesis process of silver nanowires produces hazardous chemical byproducts requiring special containment and disposal procedures increasing environmental costs. Silver nanowires have lower electrical conductivity when compared to materials like copper limiting their applications where highest conductivities are required.

Opportunity: Integration of silver nanowires into touchscreens, displays, solar panels and other transparent conductive applications is expected to grow significantly over the forecast period driven by the miniaturization of consumer electronics and expansion of renewable energy sector. Development of greener and less hazardous synthesis methods can help address environmental concerns and reduce production costs.

Threats: Availability of alternative materials like graphene, carbon nanotubes and conductive polymers possessing comparable or improved properties threatens silver nanowire market share over time. Fluctuating silver prices can increase production costs impacting overall profits.

Key Takeaways

The global silver nanowires market is expected to witness high growth over the forecast period driven by increasing use of transparent conductive materials in touchscreens, wearables and solar panels. The global silver nanowires market is estimated to be valued at US$ 170.57 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.

Regional analysis: The Asia Pacific region is expected to continue dominating the silver nanowires market accounting for over 50% of global demand through 2031 led by China, South Korea and Japan. Growing electronics and renewable energy industries in the region are major consumers of transparent conductive materials. Europe and North America are other major markets for silver nanowires driven by technological advancements and research activities in touchscreen, solar and wearable applications.

Key players: Key players operating in the silver nanowires market are Quantum Profile Systems Ltd., Amstep Products, Novaproducts Global, Optimum Technologies, Inc., Tarkett S.A., MEISHUO Building Materials Co. Ltd., Kinesik Engineered Products, Spectrum Floors, C.A.T. LTD. and Litokol. Players are focusing on R&D to develop newer synthesis techniques and value-added applications of silver nanowires to gain market share.

Get More Insights on This Topic: https://www.newsanalyticspro.com/silver-nanowires-market-demand-growth-and-regional-outlook-by-2030/

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