by The silver nanowires market has been gaining significant traction over the past few years, mainly driven by growing demand from touch screens and optoelectronics. Silver nanowires exhibit high conductivity and transparency, which makes them suitable for applications in touch panels, optoelectronics, flexible displays and other similar products. They help improve the performance, flexibility and cost-effectiveness of various electronic devices. In touchscreens, silver nanowires replace indium tin oxide as the transparent conducting layer. The improved durability and flexible attributes of silver nanowire electrodes have also increased their usage in foldable and rollable displays.
The global silver nanowires market is estimated to be valued at US$ 170.57 billion in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031
Key Takeaways
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 companies are focusing on new product development and capacity expansion activities to cater to the growing demand.
The rising adoption of touchscreens and flexible displays across various consumer electronics is a major growth opportunity for Silver Nanowires Market Growth . Countries like China, India, Japan and South Korea having a strong electronics manufacturing base are likely to significantly contribute to the global demand.
In terms of regions, Asia Pacific currently dominates the global silver nanowires market owing to the presence of major electronics manufacturing countries in the region. However, with the increasing use of electronic products worldwide, other regions like North America and Europe are also expected to offer lucrative opportunities over the coming years.
Market Drivers
Growing demand for touchscreen devices is a key factor driving the silver nanowires market. Rapid urbanization along with rising disposable income has boosted the sales of smartphones, tablets and other consumer electronics in developing economies. Improved functionality along with ongoing technological advancements has augmented the adoption of capacitive touchscreens using silver nanowire electrodes. Moreover, rising applications of silver nanowires in flexible OLED displays, smart textiles and solar cells are expected to provide a significant impetus to the market during the forecast period.
PEST Analysis
Political: Government regulations on the nanotechnology sector are still evolving. New policies and regulations related to product safety and environmental impact may impact the silver nanowires market.
Economic: The silver nanowires market is anticipated to grow at a steady pace, driven by increasing demand from touchscreens, transparent heaters and other applications. Rising consumer spending especially in automotive and electronics sectors will fuel market growth.
Social: Penetration of new technologies related to touchscreens and appearance of IoT devices has increased consumer exposure and acceptance of nanotechnology applications. This is positively impacting demand for silver nanowires.
Technological: Silver nanowires allow creating transparent conductive films with high electrical conductivity and optical transparency. Researchers are working on improving the conductivity and transparency of such films for new applications in photovoltaics, smart windows and flexible displays.
The Asia Pacific region currently dominates the global silver nanowires market in terms of value. China is the largest producer and consumer of silver nanowires. Increasing manufacturing activity in industries like automotive, consumer electronics and renewable energy is driving market growth in the region.
North America is expected to be the fastest growing market for silver nanowires during the forecast period. Wide application of silver nanowires in touchscreen panels of consumer electronics such as smartphones and tablets is majorly fueling the market in this region. Additionally, expanding electric vehicle manufacturing is augmenting regional demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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