(MENAFN- EIN Presswire) India Nano Silver Market Regional Share, Industry Size and Future Growth
PORTLAND, OREGON, UNITED STATES, April 12, 2024 /EINPresswire / -- The Nano Silver Market in India exceeded USD 61.6 million in 2019 and is projected to surpass USD 208.2 million by 2027, with a compound annual growth rate (CAGR) of 21.3% from 2020 to 2027. The report offers a comprehensive analysis of the market, covering top investment pockets, winning strategies, drivers and opportunities, market size estimations, competitive landscape, and emerging trends in the India Nano Silver market.
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The growth of the Nano Silver market in India is fueled by increased demand for nano silver in various antimicrobial applications across industries, coupled with rapid growth in the electronics and pharmaceutical sectors. However, concerns regarding the environmental impact and toxicity of nano silver products pose challenges to market growth. Nonetheless, the rising awareness and adoption of biological synthesis methods are expected to benefit market growth.
The COVID-19 pandemic has significantly impacted the Nano Silver market in India. The outbreak led to a decline in demand due to suspended manufacturing units, disrupted industrial activities, and supply chain disruptions. Operations in end-user sectors such as equipment and electronics were suspended, affecting market sales. Although India faced challenges during the second wave of COVID-19, with recovery efforts underway and easing regulations, the industry is expected to rebound.
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The report analyzes the Nano Silver market in India based on synthesis method and end-user segments. The chemical reduction method dominated the market share in 2019 and is expected to continue its dominance through 2027. Meanwhile, the biological synthesis segment is projected to witness the fastest CAGR of 22.7% during the forecast period.
In terms of end-users, the electrical and electronics segment held the largest share in 2019 and is expected to maintain its dominance throughout the forecast period. However, the pharmaceuticals segment is anticipated to exhibit the fastest CAGR of 22.3% by 2027.
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Key players in the India Nano Silver market include Merck KGaA, Mincometsal, Nanochemazone Inc., Nanocomposix, Nano Labs, Nanoshel LLC, Reinste Nanoventures Pvt. Ltd, American Elements, Filo Lifesciences Pvt. Ltd, and Sisco Research Laboratories Pvt. Ltd.
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