by The global silver nanowires market is estimated to be valued at US$ 170.57 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031
Silver nanowires are ultra-fine strands of silver that are only about 100 nm in diameter and tens of microns in length. They are efficient conductors of electricity and heat and have several advantages over traditional materials such as ITO. They are transparent, have high flexibility, can be produced at low cost and are more durable than ITO. These properties make them ideal for use in applications such as touchscreens, OLED and LCD displays, smart windows and transparent electrodes in solar cells. The growing demand for flexible and transparent displays in consumer electronics such as smartphones and wearables is a major driver for the silver nanowires market.
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. Quantum Profile Systems and Amstep Products are among the leading suppliers of silver nanowires globally.
The growing demand for flexible electronics driven by the proliferation of smartphones, wearables and e-readers is propelling the silver nanowires market. Manufacturers are increasingly adopting silver nanowires as the material of choice for applications that require transparent and flexible conductive coatings.
Major players in the Silver Nanowires Market Demand are expanding their production capacities through acquisitions and greenfield projects as well as entering into strategic collaborations with end-use industries to cater to the rising global demand. For instance, Optimum Technologies built a large scale manufacturing facility in Taiwan in 2021 to double its silver nanowire production capacity.
Market Key Trends
One of the key trends gaining traction in the silver nanowires market is their increasing use in smart windows. Silver nanowires have emerged as a promising alternative to traditional oxide semiconductors for applications in power generation and energy savings. When applied to glass surfaces, silver nanowire coatings can regulate heat and light transmission in response to environmental triggers like temperature, humidity and light intensity. This enables use of smart windows in energy efficient buildings and vehicles. Major automakers and building materials companies are actively investing in R&D to commercialize Silver Nanowire Market based smart window technologies.
Porter’s Analysis
Threat of new entrants: High capital requirements (mining and refining) and economies of scale in production limit new companies from entering the market. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and differentiated products of existing companies. Bargaining power of suppliers: Suppliers of silver and precursor chemicals have moderate to high bargaining power due to the lack of substitute materials and expertise required in processing nanowires. Threat of new substitutes: Copper nanowires and other nanomaterials pose potential threats but silver remains the best electrical conductor at nanoscale. Competitive rivalry: Intense competition exists among existing players to gain market share and scale through investments in R&D and product differentiations.
Geographical regions: North America currently holds the largest share of the global silver nanowires market in terms of value owing to high investments in research and electronics sector in US and Canada. Rapid pace of industrialization and increasing electronics production in Asia Pacific, especially in China, makes this region the fastest growing market for silver nanowires. Countries such as Taiwan, South Korea and Japan are also major consumers.
*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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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
