Silver Nitrate Market is Estimated to Witness High Growth Owing to its Wide Range of Applications in Healthcare and Other Industries
Silver nitrate is an inorganic compound widely used in various industries such as healthcare, photography, electronics and others owing to its disinfectant and antibacterial properties. It is used as disinfectant for wounds and ulcers, in chemical analysis to detect the presence of halides and in photography development process. With rising demand from these industries, the use of silver nitrate is increasing at a robust pace. The global Silver Nitrate Market is estimated to be valued at US$ 575.5 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key trends driving the growth of the global silver nitrate market is its increasing application in the healthcare industry. Silver nitrate is widely used as antiseptic for treating burns, wounds and ulcers due to its antibacterial properties. It helps prevent infections and promotes healing. With risi...