Silver Nanowires Market Size and Trends

The silver nanowires market is expected to reach US$ 1.60 Bn by 2031, from US$ 2.57 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 7.0% during the forecast period (2024-2031). Silver nanowires are ultrathin wires made of silver with diameters typically below 100 nm and lengths up to 100 microns. These exhibit exceptional electrical and thermal conductivity, and are increasingly being used in applications such as transparent conductive films, conductive inks, printed electronics, and biomedicine. The silver nanowires market growth is driven by factors such as growing demand from electronics and touch screen industries, increased use of silver nanowires in transparent conductive films and electrodes, and rising application in solar cells.

Silver Nanowires Market Drivers:

Growing demand from electronics industry: The electronics industry is increasingly adopting silver nanowires in touchscreens, displays, sensors, and other devices due to their exceptional electrical conductivity and optical transparency. For instance, in January 2022, Samsung announced it would use silver nanowires instead of ITO in smartphone displays. Companies like LG, Sony, Xiaomi are also developing displays with silver nanowire electrodes. The superior flexibility and lower cost of silver nanowires over ITO boosts its adoption in consumer electronics.
Increased use of silver nanowires in solar cells: Silver nanowires are gaining significant traction in photovoltaic applications as these can enable thin, flexible, lightweight, and highly efficient solar cells. Applying a transparent silver nanowire electrode on solar cells improves light absorption and enhances efficiency as compared to conventional electrodes. For example, in 2021, the researchers at the University of New South Wales developed a solar cell with certified 25.5% efficiency by using silver nanowire electrodes. With the rising global solar photovoltaic installations, there will be huge demand for silver nanowires in improving solar cell efficiency.
Application of silver nanowires in touch screens: Silver nanowires are increasingly being used in resistive and capacitive touch panels and screens in smartphones, tablets, laptops, and other devices. These are coated as transparent conducting electrodes on touch sensors and help enhance sensitivity, transmittance, and mechanical flexibility as compared to ITO-based touchscreens. Leading touch screen manufacturers are adopting silver nanowires.

Application of silver nanowires in transparent heaters: Silver nanowire based transparent heaters is an emerging opportunity area due to their high optical transmittance and excellent thermal conductivity. These heaters can be used to defog/de-ice automobile mirrors and windows, and other surfaces prone to misting.

Use of silver nanowires in biomedicine: Silver nanowires are garnering increasing research interest for applications in biosensing, drug delivery, tissue engineering, wound healing and medical devices owing to their high conductivity and antibacterial properties. For example, silver nanowire patches are being developed to monitor heart rate and bio signals. Silver nanowires are also used in conjunction with stem cells for cardiac tissue regeneration after myocardial infarction.

Application of silver nanowires in smart textiles: Silver nanowire coatings on textiles can impart electrical conductivity, thus, turning them into smart e-textiles. E-textiles integrated with silver nanowires have applications in communication, sensing, heating, monitoring, and fashion.

Use of silver nanowires in 3D printing: Silver nanowire inks have major potential in 3D printing of electronic devices, antennas, sensors, circuits, and others. These can enable direct printing of highly conductive components and interconnects. XJet, a company that operates in various industries, including private aviation, pressure washing, and additive manufacturing, develops silver nanowire inks optimized for 3D printing. The unique geometry control possible with 3D printing can open up innovative designs using silver nanowires.

Silver Nanowires Market Trends:

Increasing research on synthesis methods: Significant research is underway to improve and scale up the synthesis of silver nanowires by using methods such as polyol, solvothermal, hydrothermal, and chemical vapor deposition. Emphasis is on achieving longer aspect ratios, better size control, and large-scale production while minimizing costs. For instance,2021, researchers from Brown University have demonstrated high-yield synthesis of silver nanowires up to 100 μm in length using an improved polyol method. Such research trends will support commercialization.
Development of hybrid transparent electrodes: Hybrid transparent electrodes combining silver nanowires along with materials like graphene, carbon nanotubes, metal meshes, conductive polymers, and ITO are an emerging trend. Hybrids aim to leverage the synergistic properties of different materials for enhanced conductivity, flexibility, mechanical strength, and stability. For example, Panasonic is developing hybrid electrodes by using silver nanowires and ITO. Such electrodes can potentially replace ITO in displays and solar cells.
Advancements in nanowire surface modification: Surface modification of silver nanowires by using organic and inorganic materials is being researched extensively to improve dispersion stability, adhesion to substrates, and compatibility with solvents and polymers. This enables ease of processing and device fabrication by using silver nanowires. Modification by using materials like titanium oxide, silanes, dopamine polymer, and polyethylene glycol is being studied. Market players like ACS Materials is a company that is involved in the supply of advanced chemicals and materials. The company offers a range of products, including graphene-based materials.offer surface-modified silver nanowires.
Growth in printed electronics: The printed electronics industry is expected to significantly drive silver nanowire demand due to their printability, flexibility, and high conductivity. Screen, inkjet, and gravure printing using silver nanowire inks on plastic, paper, and textiles can enable high-throughput manufacturing of electronics like sensors, antennas, circuits, batteries, and displays.