Silver Nanowires Market Is Estimated To Witness High Growth Owing To Its Unique Electrical And Thermal Properties
Silver nanowires are exceptionally small structures made of pure silver, with at least one dimension measuring less than 100 nanometers. They have a range of applications across various industries including electronics, healthcare and lighting sectors. Nanowires can enhance properties of materials like conductivity and optical characteristics when incorporated in very small volumes. They are commonly used to produce transparent conductive electrodes as an alternative to Indium Tin Oxide. Silver nanowires allow for greater flexibility, durability and higher transparency when used to make touchscreens, OLED and solar cell devices.
The global silver nanowires market is estimated to be valued at US$ 148.06 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers propelling the growth of silver nanowires market is its unique electrical and thermal properties. Silver nanowires have significantly higher electrical and thermal conductivity compared to other nanomaterials like carbon nanotubes. This allows silver nanowires to effectively transport electrons and dissipate heat, making them ideal for applications in touch panels, flexible displays, heaters and antennas. Moreover, silver nanowires offer high optical transparency which is essential for use as transparent conductive films in optoelectronic devices. The combination of good conductivity and transparency make silver nanowires an attractive alternative to commonly used Indium Tin Oxide.
SWOT Analysis
Strength: Silver nanowires have high electrical and thermal conductivity which makes them suitable for applications like touch screens and transparent heaters. Their small size allows them to be embedded into materials without impacting transparency. They provide cost savings over existing materials like Indium Tin Oxide.
Weakness: Production of silver nanowires requires complex and expensive manufacturing processes. This increases the overall cost of products using silver nanowires. There are also environmental concerns around the release of silver into the environment from products using silver nanowires.
Opportunity: The growing demand for flexible displays and touchscreens from industries like consumer electronics and automotives provides an opportunity to increase the use of silver nanowires. Their optical properties make them suitable for emerging technologies like smart windows which can control heat and light passing through windows.
Threats: Other emerging conductive nanomaterials like graphene, carbon nanotubes and conductive polymers threaten the demand for silver nanowires. Stringent regulations around the use of nanomaterials in consumer products pose a challenge for silver nanowire manufacturers and players using them.
Key Takeaways
The global Silver Nanowires Market Share is expected to witness high growth over the forecast period owing to increasing demand from applications like touch screens, transparent heaters and flexible electronics. The global silver nanowires market is estimated to be valued at US$ 148.06 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the market due to presence of numerous solar panel, touch screen and electronics manufacturers in countries like China, Taiwan and South Korea. Countries in this region are also leading producers as well as consumers of silver nanowires.
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. These players are focusing on developing improved manufacturing technologies to reduce production costs and make silver nanowires more competitive against alternatives. Partnerships across the supply chain are also a key focus area.
For more insights, read- https://www.pressreleasebulletin.com/silver-nanowires-market-trends-size-and-share-analysis/
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