The Silver Nitrate Market is forecast to reach $XX million by 2027, after growing at a CAGR of 3.9% during 2022-2027. Sliver nitrate, a silver salt raw material, is one of the most important chemical compounds due to its varied industrial and commercial applications. Increasing utilization of silver nitrate as a cauterizing, sclerosing, and an anti-microbial agent in medical and pharmaceutical industries will further drive the market. Furthermore, the use of silver nitrate as silver plating material in the electroplating industry and in ceramic, electronics, and explosive industries, is further expected to create new opportunities for the growth of the global silver nitrate industry in the forecast era.
The: “Silver Nitrate Market Report - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the silver nitrate industry.
Silver Nitrate USP Grade held the largest share in the silver nitrate market. USP grade silver nitrate is widely used for applications in pharmaceutical and biotechnology. It is used to regulate growth, prevent bleeding and protect against infection as a cauterizing agent. It's also used to remove warts, skin tags, verrucae, and excess granular tissues in clinics. In addition, it is used for eliminating aphthalous ulcers in dentistry applications. It's also used in the medical industry as an antiseptic, disinfectant, and an anti-microbial agent. Furthermore, it is used in podiatric applications for killing cells in nail beds and wound healing applications to prevent microbial growth. Due to its cauterizing and antibacterial properties, demand for USP grade silver nitrate to be used in medical & healthcare applications is expected to grow in the forecast period.
Photography & jewelry held the largest share in the silver nitrate market in 2019 and is projected to grow at a CAGR of 3.5% during the forecast period 2022-2027. Silver nitrate is combined with potassium or sodium halide salts to form insoluble silver halide. Modern film photography relies on the light sensitivity of the crystals of silver halide found in the film. Once the film is exposed to light, the crystals of the silver halide shift to record a latent image which turns into a photograph. The precision of this method makes photography, video, and X-rays valuable for non-digital consumers. Also, the high reflectivity and luster make it ideal for jewelry, silverware and mirrors. Thus, owing to the above factors the demand for silver nitrate is expected to increase in the photography & jewelry applications, over the forecast period. Photographic films are made using this insoluble silver halide. Nevertheless, a decrease in the use of photographic films in professional cameras and an increase in consumer preference for digital imaging have hindered the market for silver nitrate that is used in photographic film processing.
North America held the largest share with 33.5% in the silver nitrate market in 2019. Increasing demand for silver nitrate as a cauterizing agent is expected to fuel demand for silver nitrate in developed economies such as the US and Canada during the forecast period. Advances in medicine and the introduction of electroplating techniques in North America are likely to boost the market for silver nitrate in the short term. According to the International Trade Administration, the United States is the world's largest market for medical devices. This is expected to rise to $208 billion by 2023. In 2018, U.S. exports of medical devices into key product categories defined by the Department of Commerce exceeded $43 billion. Also, rising medical-industry FDI investments in emerging North American economies are also a key factor likely to drive the sector. Owing to all these factors, the market for silver nitrate in the North America region is anticipated to rise in the forecast period.
Silver nitrate is a natural compound, used as an infectious ant agent. In wound treatment, topical application of silver nitrate is also used to help dissolve and debride hyper granulation tissue or rolled calloused edges in wounds or ulcerations. It’s also an effective agent to cauterize bleeding in wounds. Silver nitrate is a highly caustic substance; hence it must be used with caution to avoid safe tissue damage. Applied to the skin and mucous membranes, silver nitrate is either used in the form of a stick as a lunar caustic (or caustic pencil) or in water solutions of 0.01 to 10 percent silver nitrate. The stick is used to extract warts and tissue from the granulation, and to cauterize wounds and ulcerations. It is also used for the diagnosis of the verruca, granulation tissue, wound healing, stoma repair, anterior epistaxis, skin tags, and aphthouses stomatitis pain relief. Thus, increasing the use of silver nitrate in medicals will drive the market in the forecast period.
The major restraint observed in the growth of the silver nitrate market is the health hazards associated with the compound. Silver nitrate is a chemical with a caustic effect which causes irritation. When consumed over a long period of time in the skin it causes a greyish discoloration of the tissues. This phenomenon is known as argyria. It causes inflammation and damage to mucous membranes if inhaled. Silver Nitrate if consumed by mouth can have dangerous effects and sometimes causes death also. It can also lead to vomiting, bloody diarrhea, dizziness and convulsions also. Some of the chronic effects due to long term exposure to silver nitrate include general depression, headache, and loss of mental capability. Also, in some cases it has been observed that exposure to silver nitrate causes cancer. Silver Nitrate is also considered highly toxic to aquatic life forms. Therefore, the handling of this material should also be carried out in complete accordance with local laws and regulations. Thus, inhalation of methylene chloride causing severe health effects can hinder the growth of the market in the forecast period.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the silver nitrate market. In 2019, the market of silver nitrate has been consolidated by the top five players accounting for xx% of the share. Major players in the silver nitrate market are American Elements, Ames Goldsmith, Avantor, GFS Chemicals, Merck, ProChem, Ames Goldsmith Corporation, Chenzhou Nonferrous Metals, JSC and Barker Industries among others.
Silver Nitrate Market is forecast to reach $XX million by 2027, after growing at a CAGR of 3.9% during 2022-2027. Sliver nitrate, a silver salt raw material, is one of the most important chemical compounds due to its varied industrial and commercial applications. Increasing utilization of silver nitrate as a cauterizing, sclerosing, and an anti-microbial agent in medical and pharmaceutical industries will further drive the market. Furthermore, the use of silver nitrate as silver plating material in the electroplating industry and in ceramic, electronics, and explosive industries, is further expected to create new opportunities for the growth of the global silver nitrate industry in the forecast era.
The: “Silver Nitrate Market Report - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the silver nitrate industry.
Silver Nitrate USP Grade held the largest share in the silver nitrate market. USP grade silver nitrate is widely used for applications in pharmaceutical and biotechnology. It is used to regulate growth, prevent bleeding and protect against infection as a cauterizing agent. It's also used to remove warts, skin tags, verrucae, and excess granular tissues in clinics. In addition, it is used for eliminating aphthalous ulcers in dentistry applications. It's also used in the medical industry as an antiseptic, disinfectant, and an anti-microbial agent. Furthermore, it is used in podiatric applications for killing cells in nail beds and wound healing applications to prevent microbial growth. Due to its cauterizing and antibacterial properties, demand for USP grade silver nitrate to be used in medical & healthcare applications is expected to grow in the forecast period.
Photography & jewelry held the largest share in the silver nitrate market in 2019 and is projected to grow at a CAGR of 3.5% during the forecast period 2022-2027. Silver nitrate is combined with potassium or sodium halide salts to form insoluble silver halide. Modern film photography relies on the light sensitivity of the crystals of silver halide found in the film. Once the film is exposed to light, the crystals of the silver halide shift to record a latent image which turns into a photograph. The precision of this method makes photography, video, and X-rays valuable for non-digital consumers. Also, the high reflectivity and luster make it ideal for jewelry, silverware and mirrors. Thus, owing to the above factors the demand for silver nitrate is expected to increase in the photography & jewelry applications, over the forecast period. Photographic films are made using this insoluble silver halide. Nevertheless, a decrease in the use of photographic films in professional cameras and an increase in consumer preference for digital imaging have hindered the market for silver nitrate that is used in photographic film processing.
North America held the largest share with 33.5% in the silver nitrate market in 2019. Increasing demand for silver nitrate as a cauterizing agent is expected to fuel demand for silver nitrate in developed economies such as the US and Canada during the forecast period. Advances in medicine and the introduction of electroplating techniques in North America are likely to boost the market for silver nitrate in the short term. According to the International Trade Administration, the United States is the world's largest market for medical devices. This is expected to rise to $208 billion by 2023. In 2018, U.S. exports of medical devices into key product categories defined by the Department of Commerce exceeded $43 billion. Also, rising medical-industry FDI investments in emerging North American economies are also a key factor likely to drive the sector. Owing to all these factors, the market for silver nitrate in the North America region is anticipated to rise in the forecast period.
Silver nitrate is a natural compound, used as an infectious ant agent. In wound treatment, topical application of silver nitrate is also used to help dissolve and debride hyper granulation tissue or rolled calloused edges in wounds or ulcerations. It’s also an effective agent to cauterize bleeding in wounds. Silver nitrate is a highly caustic substance; hence it must be used with caution to avoid safe tissue damage. Applied to the skin and mucous membranes, silver nitrate is either used in the form of a stick as a lunar caustic (or caustic pencil) or in water solutions of 0.01 to 10 percent silver nitrate. The stick is used to extract warts and tissue from the granulation, and to cauterize wounds and ulcerations. It is also used for the diagnosis of the verruca, granulation tissue, wound healing, stoma repair, anterior epistaxis, skin tags, and aphthouses stomatitis pain relief. Thus, increasing the use of silver nitrate in medicals will drive the market in the forecast period.
The major restraint observed in the growth of the silver nitrate market is the health hazards associated with the compound. Silver nitrate is a chemical with a caustic effect which causes irritation. When consumed over a long period of time in the skin it causes a greyish discoloration of the tissues. This phenomenon is known as argyria. It causes inflammation and damage to mucous membranes if inhaled. Silver Nitrate if consumed by mouth can have dangerous effects and sometimes causes death also. It can also lead to vomiting, bloody diarrhea, dizziness and convulsions also. Some of the chronic effects due to long term exposure to silver nitrate include general depression, headache, and loss of mental capability. Also, in some cases it has been observed that exposure to silver nitrate causes cancer. Silver Nitrate is also considered highly toxic to aquatic life forms. Therefore, the handling of this material should also be carried out in complete accordance with local laws and regulations. Thus, inhalation of methylene chloride causing severe health effects can hinder the growth of the market in the forecast period.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the silver nitrate market. In 2019, the market of silver nitrate has been consolidated by the top five players accounting for xx% of the share. Major players in the silver nitrate market are American Elements, Ames Goldsmith, Avantor, GFS Chemicals, Merck, ProChem, Ames Goldsmith Corporation, Chenzhou Nonferrous Metals, JSC and Barker Industries among others.
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Report Coverage
The: “Silver Nitrate Market Report - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the silver nitrate industry.
- By Grade: Analytical Reagent Grade (ACS), Silver Nitrate USP Grade, and Silver Nitrate Technical Grade.
- By Application: Medicine & Healthcare, Photography & Jewelry, Analytical Reagents, Glass Coating, Ceramics, and Others.
- By Geography: North America, Asia Pacific, Europe, Middle East & Africa, and South America.
Key Takeaways
- Increasing the use of silver nitrate as an effective antiseptic, disinfectant and for the manufacturing of polished mirrors for the glass coating is expected to boost the silver nitrate market over the forecast period.
- In addition to important chemical properties such as light stability, water solubility and non-hygroscopic nature, silver nitrate has the comparative advantage of being the least costly of silver salts, making the silver nitrate industry lucrative.
- Owing to the toxic nature of silver nitrate, the market possesses strict government norms and regulations which can create hurdles for the silver nitrate market in the projected period.
- According to the Food and Drug Administration (FDA), the COVID-19 outbreak 2020-2021, is likely to impact the medical product supply chain including potential disruptions to supply or shortages of critical medical products.
Silver Nitrate Market Segment Analysis - By Grade
Silver Nitrate USP Grade held the largest share in the silver nitrate market. USP grade silver nitrate is widely used for applications in pharmaceutical and biotechnology. It is used to regulate growth, prevent bleeding and protect against infection as a cauterizing agent. It's also used to remove warts, skin tags, verrucae, and excess granular tissues in clinics. In addition, it is used for eliminating aphthalous ulcers in dentistry applications. It's also used in the medical industry as an antiseptic, disinfectant, and an anti-microbial agent. Furthermore, it is used in podiatric applications for killing cells in nail beds and wound healing applications to prevent microbial growth. Due to its cauterizing and antibacterial properties, demand for USP grade silver nitrate to be used in medical & healthcare applications is expected to grow in the forecast period.
Silver Nitrate Market Segment Analysis - By Application
Photography & jewelry held the largest share in the silver nitrate market in 2019 and is projected to grow at a CAGR of 3.5% during the forecast period 2022-2027. Silver nitrate is combined with potassium or sodium halide salts to form insoluble silver halide. Modern film photography relies on the light sensitivity of the crystals of silver halide found in the film. Once the film is exposed to light, the crystals of the silver halide shift to record a latent image which turns into a photograph. The precision of this method makes photography, video, and X-rays valuable for non-digital consumers. Also, the high reflectivity and luster make it ideal for jewelry, silverware and mirrors. Thus, owing to the above factors the demand for silver nitrate is expected to increase in the photography & jewelry applications, over the forecast period. Photographic films are made using this insoluble silver halide. Nevertheless, a decrease in the use of photographic films in professional cameras and an increase in consumer preference for digital imaging have hindered the market for silver nitrate that is used in photographic film processing.
Silver Nitrate Market Segment Analysis - By Geography
North America held the largest share with 33.5% in the silver nitrate market in 2019. Increasing demand for silver nitrate as a cauterizing agent is expected to fuel demand for silver nitrate in developed economies such as the US and Canada during the forecast period. Advances in medicine and the introduction of electroplating techniques in North America are likely to boost the market for silver nitrate in the short term. According to the International Trade Administration, the United States is the world's largest market for medical devices. This is expected to rise to $208 billion by 2023. In 2018, U.S. exports of medical devices into key product categories defined by the Department of Commerce exceeded $43 billion. Also, rising medical-industry FDI investments in emerging North American economies are also a key factor likely to drive the sector. Owing to all these factors, the market for silver nitrate in the North America region is anticipated to rise in the forecast period.
Silver Nitrate Market Drivers
The growing demand from the medical sector
Silver nitrate is a natural compound, used as an infectious ant agent. In wound treatment, topical application of silver nitrate is also used to help dissolve and debride hyper granulation tissue or rolled calloused edges in wounds or ulcerations. It’s also an effective agent to cauterize bleeding in wounds. Silver nitrate is a highly caustic substance; hence it must be used with caution to avoid safe tissue damage. Applied to the skin and mucous membranes, silver nitrate is either used in the form of a stick as a lunar caustic (or caustic pencil) or in water solutions of 0.01 to 10 percent silver nitrate. The stick is used to extract warts and tissue from the granulation, and to cauterize wounds and ulcerations. It is also used for the diagnosis of the verruca, granulation tissue, wound healing, stoma repair, anterior epistaxis, skin tags, and aphthouses stomatitis pain relief. Thus, increasing the use of silver nitrate in medicals will drive the market in the forecast period.
Silver Nitrate Market Challenges
Health effects of silver nitrate
The major restraint observed in the growth of the silver nitrate market is the health hazards associated with the compound. Silver nitrate is a chemical with a caustic effect which causes irritation. When consumed over a long period of time in the skin it causes a greyish discoloration of the tissues. This phenomenon is known as argyria. It causes inflammation and damage to mucous membranes if inhaled. Silver Nitrate if consumed by mouth can have dangerous effects and sometimes causes death also. It can also lead to vomiting, bloody diarrhea, dizziness and convulsions also. Some of the chronic effects due to long term exposure to silver nitrate include general depression, headache, and loss of mental capability. Also, in some cases it has been observed that exposure to silver nitrate causes cancer. Silver Nitrate is also considered highly toxic to aquatic life forms. Therefore, the handling of this material should also be carried out in complete accordance with local laws and regulations. Thus, inhalation of methylene chloride causing severe health effects can hinder the growth of the market in the forecast period.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the silver nitrate market. In 2019, the market of silver nitrate has been consolidated by the top five players accounting for xx% of the share. Major players in the silver nitrate market are American Elements, Ames Goldsmith, Avantor, GFS Chemicals, Merck, ProChem, Ames Goldsmith Corporation, Chenzhou Nonferrous Metals, JSC and Barker Industries among others.
Silver Nitrate Market is forecast to reach $XX million by 2027, after growing at a CAGR of 3.9% during 2022-2027. Sliver nitrate, a silver salt raw material, is one of the most important chemical compounds due to its varied industrial and commercial applications. Increasing utilization of silver nitrate as a cauterizing, sclerosing, and an anti-microbial agent in medical and pharmaceutical industries will further drive the market. Furthermore, the use of silver nitrate as silver plating material in the electroplating industry and in ceramic, electronics, and explosive industries, is further expected to create new opportunities for the growth of the global silver nitrate industry in the forecast era.
Report Coverage
The: “Silver Nitrate Market Report - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the silver nitrate industry.
- By Grade: Analytical Reagent Grade (ACS), Silver Nitrate USP Grade, and Silver Nitrate Technical Grade.
- By Application: Medicine & Healthcare, Photography & Jewelry, Analytical Reagents, Glass Coating, Ceramics, and Others.
- By Geography: North America, Asia Pacific, Europe, Middle East & Africa, and South America.
Key Takeaways
- Increasing the use of silver nitrate as an effective antiseptic, disinfectant and for the manufacturing of polished mirrors for the glass coating is expected to boost the silver nitrate market over the forecast period.
- In addition to important chemical properties such as light stability, water solubility and non-hygroscopic nature, silver nitrate has the comparative advantage of being the least costly of silver salts, making the silver nitrate industry lucrative.
- Owing to the toxic nature of silver nitrate, the market possesses strict government norms and regulations which can create hurdles for the silver nitrate market in the projected period.
- According to the Food and Drug Administration (FDA), the COVID-19 outbreak 2020-2021, is likely to impact the medical product supply chain including potential disruptions to supply or shortages of critical medical products.
Silver Nitrate Market Segment Analysis - By Grade
Silver Nitrate USP Grade held the largest share in the silver nitrate market. USP grade silver nitrate is widely used for applications in pharmaceutical and biotechnology. It is used to regulate growth, prevent bleeding and protect against infection as a cauterizing agent. It's also used to remove warts, skin tags, verrucae, and excess granular tissues in clinics. In addition, it is used for eliminating aphthalous ulcers in dentistry applications. It's also used in the medical industry as an antiseptic, disinfectant, and an anti-microbial agent. Furthermore, it is used in podiatric applications for killing cells in nail beds and wound healing applications to prevent microbial growth. Due to its cauterizing and antibacterial properties, demand for USP grade silver nitrate to be used in medical & healthcare applications is expected to grow in the forecast period.
Silver Nitrate Market Segment Analysis - By Application
Photography & jewelry held the largest share in the silver nitrate market in 2019 and is projected to grow at a CAGR of 3.5% during the forecast period 2022-2027. Silver nitrate is combined with potassium or sodium halide salts to form insoluble silver halide. Modern film photography relies on the light sensitivity of the crystals of silver halide found in the film. Once the film is exposed to light, the crystals of the silver halide shift to record a latent image which turns into a photograph. The precision of this method makes photography, video, and X-rays valuable for non-digital consumers. Also, the high reflectivity and luster make it ideal for jewelry, silverware and mirrors. Thus, owing to the above factors the demand for silver nitrate is expected to increase in the photography & jewelry applications, over the forecast period. Photographic films are made using this insoluble silver halide. Nevertheless, a decrease in the use of photographic films in professional cameras and an increase in consumer preference for digital imaging have hindered the market for silver nitrate that is used in photographic film processing.
Silver Nitrate Market Segment Analysis - By Geography
North America held the largest share with 33.5% in the silver nitrate market in 2019. Increasing demand for silver nitrate as a cauterizing agent is expected to fuel demand for silver nitrate in developed economies such as the US and Canada during the forecast period. Advances in medicine and the introduction of electroplating techniques in North America are likely to boost the market for silver nitrate in the short term. According to the International Trade Administration, the United States is the world's largest market for medical devices. This is expected to rise to $208 billion by 2023. In 2018, U.S. exports of medical devices into key product categories defined by the Department of Commerce exceeded $43 billion. Also, rising medical-industry FDI investments in emerging North American economies are also a key factor likely to drive the sector. Owing to all these factors, the market for silver nitrate in the North America region is anticipated to rise in the forecast period.
Silver Nitrate Market Drivers
The growing demand from the medical sector
Silver nitrate is a natural compound, used as an infectious ant agent. In wound treatment, topical application of silver nitrate is also used to help dissolve and debride hyper granulation tissue or rolled calloused edges in wounds or ulcerations. It’s also an effective agent to cauterize bleeding in wounds. Silver nitrate is a highly caustic substance; hence it must be used with caution to avoid safe tissue damage. Applied to the skin and mucous membranes, silver nitrate is either used in the form of a stick as a lunar caustic (or caustic pencil) or in water solutions of 0.01 to 10 percent silver nitrate. The stick is used to extract warts and tissue from the granulation, and to cauterize wounds and ulcerations. It is also used for the diagnosis of the verruca, granulation tissue, wound healing, stoma repair, anterior epistaxis, skin tags, and aphthouses stomatitis pain relief. Thus, increasing the use of silver nitrate in medicals will drive the market in the forecast period.
Silver Nitrate Market Challenges
Health effects of silver nitrate
The major restraint observed in the growth of the silver nitrate market is the health hazards associated with the compound. Silver nitrate is a chemical with a caustic effect which causes irritation. When consumed over a long period of time in the skin it causes a greyish discoloration of the tissues. This phenomenon is known as argyria. It causes inflammation and damage to mucous membranes if inhaled. Silver Nitrate if consumed by mouth can have dangerous effects and sometimes causes death also. It can also lead to vomiting, bloody diarrhea, dizziness and convulsions also. Some of the chronic effects due to long term exposure to silver nitrate include general depression, headache, and loss of mental capability. Also, in some cases it has been observed that exposure to silver nitrate causes cancer. Silver Nitrate is also considered highly toxic to aquatic life forms. Therefore, the handling of this material should also be carried out in complete accordance with local laws and regulations. Thus, inhalation of methylene chloride causing severe health effects can hinder the growth of the market in the forecast period.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the silver nitrate market. In 2019, the market of silver nitrate has been consolidated by the top five players accounting for xx% of the share. Major players in the silver nitrate market are American Elements, Ames Goldsmith, Avantor, GFS Chemicals, Merck, ProChem, Ames Goldsmith Corporation, Chenzhou Nonferrous Metals, JSC and Barker Industries among others.
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Table of Contents
1. Silver Nitrate Market - Market Overview
2. Silver Nitrate Market - Executive Summary
3. Silver Nitrate Market - Landscape
4. Silver Nitrate Market - Market Forces
5. Silver Nitrate Market -Strategic analysis
6. Silver Nitrate Market - By Grade (Market Size - $Million)
7. Silver Nitrate Market - By Application (Market Size - $Million)
8. Silver Nitrate Market - By Geography (Market Size - $Million)
9. Silver Nitrate Market - Entropy
10. Silver Nitrate Market - Company Analysis
Methodology
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