Enjoy complimentary customisation on priority with our Enterprise License!
The silver sulfate market share is expected to increase to USD 378.26 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.77%.
This silver sulfate market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers silver sulfate market segmentation by end-user (agriculture, food industry, pharmaceutical, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The silver sulfate market report also offers information on several market vendors, including ACP Chemicals Inc., American Elements, AppliChem GmbH, Avantor Inc., Eastman Kodak Co., Ereztech LLC, HiMedia Laboratories Pvt. Ltd., Honeywell International Inc., Jiodine Chemical Qingdao Co. Ltd., Merck KGaA, Modison Metals Ltd., Otto Chemie Pvt. Ltd., Pheonix Industries, Ricca Chemical Co., Santa Cruz Biotechnology Inc., Schwitz Biotech, Strem Chemicals Inc., and Thermo Fisher Scientific Inc. among others.
Download the Free Report Sample to Unlock the Silver Sulfate Market Size for the Forecast Period and Other Important Statistics
The low cost and easy availability of raw materials is notably driving the silver sulfate market growth, although factors such as the harmful effects of silver sulfate may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the silver sulfate industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Silver Sulfate Market Driver
One of the key factors driving growth in the silver sulfate market is the low cost and easy availability of raw materials. Silver sulfate has a wide range of applications, including its usage in the silver-plating process, medical use, wastewater treatment, and solar and fuel cell technology. Silver sulfate is also used to remove tarnish from aluminum as it combines with other metals to produce silver. Unlike silver fluoroborate and silver perchlorate, silver sulfate is non-hygroscopic. In an effort to substitute silver cyanide, the white chemical known as silver sulfate is employed in the silver-plating process. Owing to its usage as an antioxidant, lubricant, and catalyst, the chemical sector is expected to be one of the major consumers of silver sulfate during the forecast period. Thus, the increase in the adoption of silver sulfate in various industries is expected to contribute to the global silver sulfate market growth.
Key Silver Sulfate Market Trend
The growing application in the pharmaceutical segment is a silver sulfate market trend that is expected to have a positive impact in the coming years. Silver compounds, especially silver sulfate, are incorporated in the bandages that are used to treat wounds ranging from minor skin wounds to severe lacerations and skin abrasions. It is also used in ointments in wound care applications to help prevent and treat wound infections in patients with serious burns. It prevents bacterial growth that can infect an open wound. This helps to decrease the possibility of the bacterium spreading to the skin or blood, where it can result in a dangerous blood infection (sepsis). Broad antibacterial action is exhibited by silver sulfate In addition, due to its effectiveness against yeast, Thus, the increased demand for silver sulfate to manufacture medical products such as ointments due to its antiseptic properties can propel the market.
Key Silver Sulfate Market Challenge
The harmful effects of silver sulfate will be a major challenge for the silver sulfate market during the forecast period. The use of silver sulfate can cause a serious risk of eye irritation, respiratory issues, and skin irritation. When taken orally, sulfates can cause diarrhea but are not easily absorbed. The consumption of silver sulfate is harmful to individuals who have organ impairment (such as liver or kidney dysfunction). A few people develop skin inflammation when they come in contact with silver sulfate. The inhaling of silver sulfate can cause respiratory issues in a few people. Further lung damage can result from the body's reaction to such irritability. Such factors may hinder the global silver sulfate market growth.
This silver sulfate market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global silver sulfate market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the silver sulfate market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the silver sulfate market encompasses successful business strategies deployed by the key vendors. The silver sulfate market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
acpchem.com - The company offers silver sulfate which is used for medical purposes.
acpchem.com - Through the unified segment, the company offers laboratory chemical reagents and industrial chemicals.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The silver sulfate market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the silver sulfate market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
42% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for silver sulfate in APAC. Market growth in this region will be slower than the growth of the market in other regions.
The increasing disposable income of people will facilitate the silver sulfate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Owing to the COVID-19 pandemic in 2020, several countries in North America, such as the US, Canada, and Mexico, imposed lockdowns to contain the spread of the disease, which resulted in the shut down of factories, shops, and other businesses. However, the demand for silver sulfate resumed in 2021 and manufacturing facilities resumed operations. Hence, the regional silver sulfate market is expected to witness growth during the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The silver sulfate market share growth by the agriculture segment will be significant during the forecast period. The agriculture segment holds a majority share in the global silver sulfate market. In several crop plants, including cucumber, and tomato, silver sulfate is an efficient fungicide for the control of powdery mildew. It can also guard against bacterial and fungal plant diseases, enhancing yields and ensuring high-quality goods with low pesticide residue. The fungus ultimately perishes due to the silver ions' inhibition of the enzymes necessary for the fungus' development and disruption of spore germination. Hence, the agriculture segment is expected to witness growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the silver sulfate market size and actionable market insights on post COVID-19 impact on each segment.
Silver Sulfate Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.77% |
Market growth 2022-2026 |
$ 378.26 million |
Market structure |
Fragmented |
YoY growth (%) |
3.42 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key consumer countries |
US, Canada, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ACP Chemicals Inc., American Elements, AppliChem GmbH, Avantor Inc., Eastman Kodak Co., Ereztech LLC, HiMedia Laboratories Pvt. Ltd., Honeywell International Inc., Jiodine Chemical Qingdao Co. Ltd., Merck KGaA, Modison Metals Ltd., Otto Chemie Pvt. Ltd., Pheonix Industries, Ricca Chemical Co., Santa Cruz Biotechnology Inc., Schwitz Biotech, Strem Chemicals Inc., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.