by Silver nanowires are extremely thin metallic wires with diameters typically ranging from 30 to 150 nanometers. They are finding increasing use in applications such as touchscreens, OLED and LCD displays, touch panels and other transparent conductive films in consumer electronics. The rapidly growing consumer electronics industry driven by rising demand for smart devices and wearables is expected to be a key driver for the silver nanowires market.
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:
Growing Demand for Transparent Electronics (as referred in the heading): One of the major drivers propelling the growth of the silver nanowires market is the increasing demand for transparent conductive films in various electronic applications such as touchscreens, touch panels, OLED/LCD displays and other transparent conductors in consumer electronics. Silver nanowires allow higher light transmittance as compared to other transparent conductive materials like ITO and are emerging as a promising substitute for it. With surging popularity of smart devices, wearables and other electronics having touch-sensitive controls, the demand for silver nanowires is expected to increase significantly over the forecast period.
Rising Demand from the Touchscreens Segment: Within the application segments, touchscreens dominate the silver nanowires market and are expected to exhibit most robust growth. Proliferating smartphones and tablets industry has boosted the touchscreen market substantially. Silver nanowires enable production of thinner, lighter and high-resolution touchscreens. They offer various advantages like flexibility, stretchability and cost-effectiveness. These advantages are increasing silver nanowires preference among touchscreen manufacturers.
Segment Analysis
The global Silver Nanowire Market can be segmented based on offer, end-use industry and geography. Based on offer, the market is divided into silver nanowires film and silver nanowire suspension. Among these, silver nanowire film segment is dominating the market and is expected to maintain this trend over the forecast period. Film format offers ease of application for uses such as touch panels and transparent electrodes which is driving the growth of this segment.
PEST Analysis
Political: The silver nanowires market is not directly impacted by political factors. However, government regulations around environment safety and electronics waste disposal impact the market indirectly.
Economic: Rising disposable incomes in emerging economies are driving demand for electronic goods which use silver nanowires in applications like touch panels. Overall economic growth worldwide is propelling the market growth.
Social: Increasing adoption of consumer electronics and demand for energy efficient building materials are the key social factors augmenting the silver nanowires market. Growing health awareness regarding indoor air quality is also favoring the market.
Technological: Advancements in materials science have enabled development of transparent electrodes using silver nanowires which find application in touch screens, LCDs and others. Scaling up nanowire production through new synthesis techniques is another technological development supporting market expansion.
Key Takeaways
The global Silver Nanowires Market Share is expected to witness high growth over the forecast period. 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 regional market currently dominates due to presence of major consumer electronics manufacturers in countries like China, South Korea and Taiwan. Rapid industrialization and urbanization are spurring electronics demand in the region. Presence of leading consumer electronics manufacturers and a large production base for electronics in these countries is driving silver nanowires consumption. Rapid pace of industrialization and urbanization has also been spurring the demand for electronics and energy efficient building materials in the region.
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. Most of the key players are involved in strengthening their distribution networks and developing innovative synthesis techniques to reduce nanowire manufacturing costs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
