Silver nanowires or silver nanowire films are nanoscale conductive thin films that can be applied to surfaces or incorporated into materials as a transparent conducting layer. Silver Nanowires have excellent electrical and thermal conductivity and can provide anti-bacterial protection and better flexibility as compared to other transparent conducting materials like ITO. They provide the dual benefit of excellent conductivity and optical transparency which make them useful for applications in touch screens, OLED and LCD displays, smart windows and transparent heaters.
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 Opportunity:
The opportunity for advanced materials and devices is driving growth of the silver nanowires market. Silver nanowires are being widely explored for applications in transparent and flexible devices due to their high electrical conductivity and optical transparency. They enable development of new generation of touch panels, flexible displays, smart windows and more. The emergence of novel applications such as wearable devices, Internet of Things devices and development of renewable energy technologies provide immense opportunities for utilization of silver nanowires and further innovation in advanced materials and technologies. The demand from emerging application areas is expected to surge significantly during the forecast period which can propel the silver nanowires market growth.
Porter's Analysis
Threat of new entrants: The threat of new entrants in the silver nanowires market is moderate as significant capital investments are required to enter the market and build a brand reputation and customer trust.
Bargaining power of buyers: The bargaining power of buyers in the silver nanowires market is high as the market is fragmented with presence of several vendors providing silver nanowires. Buyers can negotiate on price and quality with ease.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required for manufacturing silver nanowires are commoditized and available from multiple sources globally.
Threat of new substitutes: The threat of substitutes is moderate as silver nanowires have properties superior to traditional substitutes like copper, aluminum and currently there are no direct substitutes available for silver nanowires.
Competitive rivalry: The competitive rivalry is high due to presence of numerous local and international players offering similar product portfolios.
SWOT Analysis
Strength: Silver nanowires have high electrical and thermal conductivity. They can be produced using simple and cost-effective processes.
Weakness: Mass production of silver nanowires is challenging. They are more expensive than traditional materials.
Opportunity: Growing demand from touch panels, displays, solar cells provides significant growth opportunities. Increasing R&D for developing new applications will further drive the market.
Threats: Stringent regulations regarding manufacturing and disposal of nanowires. Rise in prices of silver may increase production costs.
Key Takeaways
The global Silver Nanowires Market Share is expected to witness high growth over the forecast period driven by increasing use of touchscreens, flexible displays, wearable devices and growth in renewable energy sector. 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.
Regionally, Asia Pacific dominates the silver nanowires market and is expected to maintain its lead position through 2030. China is the largest producer and exporter of silver nanowires while South Korea, Japan and India are other major countries rapidly adopting silver nanowires in various applications.
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. Major players are focusing on expanding their production capacities and global footprint through partnerships and joint ventures to meet the rising demand worldwide.
For more insights, read- https://www.ukwebwire.com/silver-nanowires-market-trends-size-and-share-analysis/
