Rising Applications in Silver Nitrate Market

Posted 2023-11-29 12:06:50

The Silver Nitrate Market is estimated to be valued at US$ 363.1 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis:

· Strength: Established production and supply chain capabilities of key players. Wide applications of silver nitrate in various end use industries.

· Weakness: High manufacturing and production costs. Stringent regulations regarding silver nitrate production and use.

· Opportunity: Growing demand for silver nitrate in applications such as photography, catalysts, silver plating, wastewater treatment and others. Increasing uptake in medical applications such as wound dressings and antimicrobials.

· Threats: Availability of alternatives and growing environmental concerns regarding the silver nitrate based products. Volatility in raw material prices.

Key Takeaways:

The Global Silver Nitrate Market Size is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing demand from various end use industries such as medical, electronics, and chemicals. The silver nitrate market size for 2023 is US$ 363.1 Mn.

Regional analysis: The North America silver nitrate market is projected to dominate the global market over the forecast period owing to strong end use industries base like healthcare, electronics and chemicals in the region. Asia Pacific silver nitrate market is expected to grow at fastest CAGR during the forecast period due to increasing industrialization and urbanization in developing countries like China and India.

Key players operating in the silver nitrate market are Ames Goldsmith, Ricca Chemical Company, Rochester Silver Works, Tongling Noferrous Metals Group, Jiangsu Shangyong New Material, Yinxing Chem, Chenzhou Jingui Silver Industry, Shenzhen Sunshine Chem, Shaanxi Kaida Chemical Engineering, Metalor Technologies International, Umicore, Materion Corporation, Tanaka Holdings, Heraeus Holding, Fujifilm, Boliden Group.