The Silver Nitrate Market size is estimated to reach a value of US$6.2 billion by the end of 2027 after growing at a CAGR of 4.9% during the forecast period 2022-2027. Silver Nitrate is an inorganic compound that is formed by the combination of silver with nitric acid. This compound is known as lunar caustic and is a superior anti-microbial agent, antiseptic, anti-infective and precursor to various silver compounds, thereby having flourishing applicability in the medical & pharmaceutical sector. The increasing demand for silver nitrate for cauterizing, sclerosing, wart treatment and others is fueling its growth scope and acts as a driving factor in the silver nitrate industry. In addition, the rising demand for silver nitrate in photographic films and jewelry is propelling the growth prospects in the silver nitrate market. The disruptions led by the covid-19 outbreak impacted the silver nitrate market due to logistics restrictions, disturbance in medical infrastructure, demand and supply gaps and other lockdown restrictions. However, significant recovery in the major end-use sector is boosting the demand for silver nitrate for a wide range of applicability and utilization in electronics, jewelry, pharmaceuticals and others. Thus, the silver nitrate industry is anticipated to grow rapidly and contribute to the silver nitrate market size during the forecast period.
