Increase in demand for nano silver from various antimicrobial applications in end use industries and rapid growth of the electronics and pharmaceutical sectors in the province drive the growth of the India nano silver market. By end-user, the electrical and electronics segment dominated the market in 2019, and is expected to maintain its dominance throughout the forecast period.
Portland, OR, June 28, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the India nano silver market was estimated at $61.6 million in 2019 and is expected to hit $208.2 million by 2027, registering a CAGR of 21.3% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
Increase in demand for nano silver from various antimicrobial applications in end use industries and rapid growth of the electronics and pharmaceutical sectors in the province drive the growth of the India nano silver market. On the other hand, rise in concerns over environmental impact and toxicity nano silver products impede the growth to some extent. However, growth in awareness and trend toward biological synthesis method is expected to be beneficial for the market growth.
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COVID-19 scenario-
- The outbreak of the pandemic led to declined demand for nano silver in India, owing to suspended manufacturing units, industrial activities, and disrupted supply chain management.
- The suspended operations in the end using sectors including equipment, electronics equipment and others affected the market sales to certain extent.
- India has been one among the most hit nations by the second wave of covid-19. This has further created several challenges for the market. However, as the nation has started recovering and the regulations are getting eased off, the industry is expected to recoup soon.
The India nano silver market is analyzed across method of synthesis and end user. Based on method of synthesis, the chemical reduction segment accounted for more than half of the total market share in 2019, and is expected to rule the roost by 2027. The biological segment, on the other hand, would cite the fastest CAGR 22.7% during the forecast period.
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By end-user, the electrical and electronics segment held the major share in 2019, accounting for more than one-fourth of the market. The segment is expected to lead the trail throughout the forecast period. However, the pharmaceuticals segment would also cite the fastest CAGR of 22.3% by the end of 2027.
The key market players analyzed in the India nano silver market report include Merck KGaA, Mincometsal, Nanochemazone, Inc., Nanocomposix, Nano Labs, Nanoshel LLC, Reinste Nanoventures Pvt. Ltd, The key players operating in the India nano silver market are American Elements, Filo Lifesciences Pvt. Ltd, and Sisco Research Laboratories Pvt. Ltd.
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