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The size of the Indian nano-silver market was valued at $ 61.6 million in 2019 and is expected to reach $ 208.2 million by 2027, with a CAGR of 21.3% from 2020 to 2027.
PORTLAND, OREGON, UNITED STATES, October 25, 2021 /EINPresswire.com/ – According to the report published by Allied Market Research, the Indian Nanosilver Market was estimated at $ 61.6 million in 2019 and is expected to reach $ 208.2 million by 2027, registering a CAGR of 21.3% from 2020 to 2027. The report provides a detailed analysis of the main pockets of investment, best winning strategies, drivers & opportunities, market size & estimates, competitive landscape and changing market trends.
The increasing demand for nanosilver from various antimicrobial applications in end-use industries and the rapid growth of electronics and pharmaceutical sectors in the province are driving the growth of India’s nanosilver market. On the other hand, increasing concerns about the environmental impact and toxicity of nanosilver products are hampering growth to some extent. However, the growth in awareness and trend towards biosynthesis method is expected to be beneficial for the growth of the market.
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COVID-19 scenario-
The outbreak of the pandemic has led to a drop in demand for nanosilver in India, due to the suspension of manufacturing units, industrial activities and disrupted supply chain management.
The suspended operations at the end using sectors including equipment, electronic equipment and others affected the market sales to some extent.
India was one of the countries most affected by the second wave of covid-19. This has also created several challenges for the market. However, as the country has started to recover and regulations ease, the industry is expected to recover soon.
Indian nanosilver market is analyzed by synthesis method and end user. Based on the synthetic method, the chemical reduction segment accounted for more than half of the total market share in 2019 and is expected to reign on the roost by 2027. The organic segment, on the other hand, would cite the CAGR on faster 22.7% during the forecast period.
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By end user, the electrical and electronics segment held the largest share in 2019, accounting for more than a quarter of the market. The segment is expected to lead the trail throughout the forecast period. However, the pharmaceuticals segment is also said to have the fastest CAGR of 22.3% by the end of 2027.
The major market players analyzed in the India Nanosilver Market report are Merck KGaA, Mincometsal, Nanochemazone, Inc., Nanocomposix, Nano Labs, Nanoshel LLC, Reinste Nanoventures Pvt. Ltd, the major players operating in the Indian nanosilver market are American Elements, Filo Lifesciences Pvt. Ltd and Sisco Research Laboratories Pvt. Ltd.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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