Global Silver Nitrate Market
Global Silver Nitrate Market Report Description:
Global Silver Nitrate market report gives comprehensive outlook on silver nitrate across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global silver nitrate market gives historical, current, and future market sizes (US$ Mn) on the basis of purity, grade, end user and region. This report studies global silver nitrate market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global silver nitrate market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global silver nitrate market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global silver nitrate market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global silver nitrate products.
Global Silver Nitrate Market:
The global market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Easy availability and low cost of the compound, growing demand for silver nitrate from medical & healthcare industry, increase in research & development activities, superior properties of silver nitrate and increased demand from end user industries are some key factors propelling the market growth. However, factors such as side effects of silver nitrate, stringent government norms & regulations varying in different regions and economic downturns are hampering the market growth.
Growing Demand for Silver Nitrate from Medical & Healthcare Industry is Fueling the Market Growth
Silver nitrate is an inorganic and caustic chemical compound that is made by dissolving silver in nitric acid. It appears as a white crystalline solid and is water soluble, non-hygroscopic, and can be corrosive if ingested. Silver nitrate is a natural compound that is used as an anti-infective agent. It is a topical used to cauterize infected tissues around a skin wound. Silver nitrate can also help create a scab to help stop bleeding from a minor skin wound. It is also used to help remove warts or skin tags.
Pure silver nitrate is an intermediate in the preparation of other silver salts, including the colloidal silver compounds used in medicine and the silver halides incorporated into photographic emulsions. Thus, increased demand for silver nitrate to manufacture medical products such as ointments due to its antiseptic properties can further enhance the market growth during the forecast period.
Side Effects of Silver Nitrate Hampers the Market Growth
Silver nitrate when used topically has been noted to cause irritation, redness. The main toxic effect of topical silver nitrate is a generalized gray pigmentation of the skin called argyria. This is very rare with chronic topical use and typically occurs more frequently with chronic systemic absorption. On average, 3.8 grams of silver nitrate given orally can cause argyria to begin.
Silver nitrate is mainly considered a poison with ingestion due to the corrosive nature of the compound. If ingested, silver nitrate can cause potentially fatal gastroenteritis and gastrointestinal bleed. Hence, side effects of silver nitrate limits the market growth.
Asia Pacific Accounts for Larger Market Revenue Share in Global Silver Nitrate Market
Asia Pacific accounted for larger revenue share in global silver nitrate market with considerable CAGR as the region is the major producer of silver nitrate and rise in industrialization in countries such as China and India. Also, china is the major contributor for the growth of the market in this region due to production capacity expansions by chemical and pharmaceutical manufacturers. In addition, North America held significant market share during predicted period owing to rising demand for silver nitrate as sealing agent in developed economies such as the U.S. and Canada.
Key player’s profiles in the global silver nitrate market include:
- American Elements
- Ames Goldsmith Corporation
- Barker Industries
- ESPI Metals
- Jiangsu Shangyong New Material Co., Ltd
- Pheonix Industries
- RICCA Chemical Company
- Chemical Industries
- Shengzhou Jingui Silver Industry Co., Ltd.
- Tongling Nonferrous Metals Group Holding Co.,Ltd
- Umicore Precious Metals Refining
Global silver nitrate market is surging owing to frequent acquisitions and launchings by the market players.
Key Findings of the Report:
- Global silver nitrate market expanding at significant CAGR over 2019 to 2025 owing to growing demand for silver nitrate from medical & healthcare industry
- Based on grade, silver nitrate ACS grade segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global silver nitrate market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Silver Nitrate Technical Grade
- Silver Nitrate ACS Grade
- Silver Nitrate USP Grade
By End User
- Medical & Healthcare
- Photography & Jewellery
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA