Metallic Nanowires Market Size (2024-2030)

The  Global Metallic Nanowires Market was valued at USD 193.50 million and is projected to reach a market size of USD 441.31 million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 12.5%. 

Metallic nanowires have gained attention during the early 2000s. Due to their superior characteristics and properties, they are employed in the electrical and electronic sectors for various applications. In the future, with a growing focus on R&D, this market can have potential applications in the fields of healthcare, advanced materials, and energy. During the forecast period, this market is set to see a notable growth.

Key Market Insights:

As per a report, China’s smartphone shipments reached 365 million units in the first quarter of 2021, showing a year-on-year increase of 66% which further profited the metallic nanowire market.

Another report showed that domestic electronic production in India increased from $29 billion in 2014-15 to $67 billion in 2020-21, thereby driving the growth of the electronics industry and the Silver Nanowires Market.

According to the International Organization of Motor Vehicle Manufacturers (OICA), the global production of passenger cars rose from 55,834,45,6 units in 2020 to 57,054,29,5 units in 2021 boosting the progress of this market.

In 2019, according to an article published, China did the majority of research in nanotechnology, with 74,000 published articles in total. Predictions indicated that the US, Germany, and Brazil are likely to lead the nanotechnology industry in 2024.

Release of silver ions from silver nanowires can pose an environmental risk due to inefficient disposal methods. More than 28% of the farms were violating certain policies regarding this. To tackle this, alternatives are being found and studies along with implementing proper waste management solutions.

Metallic Nanowires Market Drivers:

Emphasis on energy efficiency is aiding the market growth.

Metallic nanowires are used mainly due to their energy conservation properties. They are used in solar cells, touchscreens, LEDs, laptops, and other flexible devices. There has been rapid advancement in a few metallic nanowires like silver and copper. Moreover, Governmental involvement in promoting the use of renewable resources has been a boon for the market. Researchers are working on the potential applications of metallic nanowires in building a sustainable environment and energy-efficient smart buildings to further broaden human knowledge as well as lead a comfortable life.

The increasing adoption of flexible electronics is boosting the expansion.

Devices which include laptops, tablets, phones, and others have become very crucial for our day-to-day activities. Silver is one of the most common metallic nanowires used for these devices. It is mainly used for making transparent conductive films. The good electrical conductivity of silver, coupled with the excellent ductility and bendability exhibited by the wires make them ideal for flexible devices. Additionally, properties like thermal conductivity, low sheet resistance, and a higher aspect ratio make them a suitable choice.

Rapid advancements in research activities are helping in progress.

Research into 1D metallic NWs has sparked innovation in several fields over the past 10 years, including flexible transparent conductive films and electrodes, conductive polymer nanocomposites, touch sensors, wearable optoelectronic devices, photovoltaic (PV) cells, electrochromic devices, and thermal energy storage. Furthermore, evolvement in the electronic industry coupled with IoT to create small, miniatured, and flexible devices is propelling the development

Metallic Nanowires Market Restraints and Challenges:

Price, proper handling, and ensuring the right performance are the main restraints that the market is currently facing.

Associated costs are one of the biggest market hurdles. A lot of investments are required for manufacturing, processing, maintenance, and storage. Moreover, they take a lot of time to manufacture which further increases the money required. This can drain the smaller firms demotivating them to continue. Secondly, proper handling is necessary to prevent any environmental and human hazards due to the presence of certain toxic compounds in them. Thirdly, ensuring a good performance is a big issue. Certain drawbacks of Ag nanowires include their high roughness, low adhesion to substrates, atmospheric corrosion, degradation under UV and visible light, and poor contact at wire-wire junctions

Metallic Nanowires Market Opportunities:

There have been recent trends in achieving fitness. To ensure this, various wearable technologies are available. This provides the market with an ample number of opportunities for their production. Secondly, electric vehicles are economy-friendly. This demand is expected to generate profits for this market because they are mainly used in lithium-ion batteries. Innovations in aerospace and defense to produce lightweight materials are helping the market. Furthermore, R&D activities about the role of drug delivery and treating diseases like cancer are being undertaken.

METALLIC NANOWIRES MARKET REPORT COVERAGE:

Metallic Nanowires Market Segmentation:

Metallic Nanowires Market Segmentation: By Type:

• Silver
• Gold
• Copper
• Others

Based on type, silver metallic nanowires are the largest growing in this market. They have advantageous properties like high electrical conductivity, transparency in the visible range of wavelengths, and flexibility. Moreover, they are very much preferred in automotive industries for automotive, pressure, and temperature sensors due to their properties. They hold a share of around 45%. Copper nanowires were the fastest growing holding a share of around 30%. This is due to their cost-effectiveness, flexibility, and conductivity. They are a popular choice in the electronics and renewable industry.

Metallic Nanowires Market Segmentation: By Application:

• Consumer Electronics
• Chemical and Biological Sensors
• Solar Cells
• Nanogenerators
• Others

Based on application, consumer electronics are the largest growing in the market. The increasing demand for smaller, faster, more efficient, and more flexible electronics is the key factor for the market success. Metallic nanowires are used in this industry because of their electrical conductivity which provides a better scope for the consumer electronics category. Additionally, they are perfect for boosting the performance of these components because of their high surface-to-volume ratio, which enables quick and effective electron transmission. The main metals used are silver, iron, and gold. They are estimated to hold a share of around 35% in this market. Solar cells are the fastest-growing application. The demand for utilizing renewable energy and its sources is fueling the enlargement. Furthermore, support, investments, and funds from Governmental bodies are helping as well. According to the International Energy Agency, the global solar installation was around 107 Gigawatt in 2020. All these factors help in the expansion of the solar cell segment.

Metallic Nanowires Market Segmentation: Regional Analysis:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East and Africa

Based on region, Asia Pacific is the largest growing in this market. This is because of the robust facilities, technological advancements, demand, and presence of key players, enormous manufacturing, and abundance of semi-electronics and electronics markets. Countries like China, India, and Japan are the top leaders. The economy of these countries is flourishing due to the import and export trade of these nanowires. Moreover, there have been a lot of R&D activities and investments from the Government as well as investors. Furthermore, Asian countries usually have plenty of metals to help with development. They hold a total share of around 40%. North America is the fastest growing. North America is the fastest growing holding a share of around 25% in the market. Research activities, the economy, and the demand for consumer electronics are aiding the progress. They are growing to be amongst the largest manufacturing regions. Healthcare and biotechnology applications are assisting the market growth.

COVID-19 Impact Analysis on the Global Metallic Nanowires Market:

The outbreak of the virus had a mixed impact on the market. Lockdowns, movement restrictions, and social isolation were the new norm. This caused the shutting down of many manufacturing units and companies. Due to budget restrictions, layoffs were frequent creating an economic slowdown. Import-export trade was affected due to disruptions in the supply chain, logistics, and transportation. However, a shift towards online work was observed. Remote communication was the one way to have contact with the rest of the world. Working from home was common and this increased the need to have personal devices like laptops, tablets, and smartphones. As per a report, demand for laptops and tablets during the pandemic jumped to 200% and 90% respectively on a pre and post-lockdown basis.

Latest Trends/ Developments:

Companies are also spending heftily to improve existing innovations alongside maintaining competitive pricing. An inclination toward sustainable manufacturing production processes is being prioritized. Other latest research includes exploring their application in biomedical implants, improvement in connectivity part of 5G network, neuromorphic computing, and integration of quantum dot.

Key Players:

1. Cambrios Technologies Corporation
2. Blue Nano, Inc.
3. Seashell Technology, LLC
4. NanoTech Labs, Inc.
5. Novarials Corporation
6. Innova Dynamics, Inc.
7. Nanocomposix
8. Brewer Science, Inc.
9. PlasmaChem GmbH
10. Nanowired Srl

In October 2022, C3Nano announced the scaling-up of its Ultra-Nanowires™ product line for advancing new industry applications with plated nanowires.

In February 2020, the Centre of Scientific and Industrial Research (CSIR) National Chemical Laboratory (NCL) team of scientists developed a technology for manufacturing precision silver nanowires on a large scale.