Market Overview:
Silver nanowires are essential nanomaterials that find diverse applications in a wide range of industries including touch screens, displays, solar cells, sensors, and more. These are nanoscale sized silver wires that can enhance electrical conductivity of various materials due to their high aspect ratio. Made through a wet chemical fabrication process, silver nanowires enable development of highly transparent and flexible conductive electrodes, which are increasingly replacing conventional ITO electrodes.
Market key trends:
One of the key drivers propelling growth of the silver nanowires market is their increasing use in touch screens and displays. Silver nanowires help in producing cost-effective and flexible touch screens for next generation devices such as foldable smartphones, tablets, and wearables. They lower surface sheet resistance by 4-5 times as compared to conventional PEDOT:PSS and ensure high optical transparency. Another major trend is the use of silver nanowires in organic photovoltaics for improving photovoltaic efficiency. Their high aspect ratio enable development of highly conductive and transparent electrodes, thereby boosting power conversion efficiency of solar cells.
Porter’s Analysis
Threat of new entrants: The silver nanowires market requires high capital investments for research and development activities, which pose a barrier for new players.
Bargaining power of buyers: The presence of numerous players operating in the silver nanowires market enables buyers to compare products and prices, thereby increasing their bargaining power.
Bargaining power of suppliers: raw material suppliers have moderate bargaining power due to availability of substitute raw materials that can be used by manufacturers.
Threat of new substitutes: New materials such as copper nanowires, graphene, and carbon nanotubes pose a threat of substitution. However, silver nanowires still remain the material of choice for most applications.
The global Silver Nanowires Market Demand is estimated to be valued at US$ 148.1 Million in 2023 and is expected to exhibit a CAGR of 34.6% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global silver nanowires market size is expected to witness high growth, exhibiting CAGR of 34.6% over the forecast period of 2023 – 2030, due to increasing demand from touch panels, OLED/LCDs, solar cells, health care, and electrical components.
The Asia Pacific region dominates the global silver nanowires market and is estimated to continue its dominance during the forecast period. Factors such as rapidly growing electronics industry, increasing per capita income, developing nanotechnology infrastructure are driving the regional market.
Key players operating in the silver nanowires market are Cambrios, Blue Nano, C3Nano, Nanopyxis, Hefei Vigon Material Technology, Gu’s New Material, ACS Material, Zhejiang Kechuang Advanced Materials, BASF, PlasmaChem, Suzhou ColdStones Technology, Nanopix, Novarials, Abrisa Technologies, ACS Material LLC, Blue Nano Inc., Cambrios Technologies Corporation, Hefei Vigon Material Technology Co., Novarials Corporation, Seashell Technology LLC.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
