Silver Enamel Market
Silver Enamel Market Analysis, By Type(Tooth Filling Material, Raw Materials for Jewellery, Others), By Application (Jewellery, Artware, Equipment, Others), and by Region - Global Market Insights 2022-2032
Analysis of Silver Enamel Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Silver Enamel Outlook (2022-2032)
The global silver enamel market was estimated to be worth around US$ 2 Billion by 2021. With the increasing usage of Silver Enamel for several reasons worldwide, the market is expected to reach a worth of about US$ 3.6 Billion by the end of 2032, with a projected CAGR of 5.3% during 2022 – 2032. From 2015 to 2021, the Silver Enamel Market experienced a growth of 5.9%.
One of the key factors for the rapid development of the silver enamel market is its growing usage in a variety of applications such as dental uses, jewelry, and paintings. Dental applications play a significant role in market growth. Silver enamel is used in dentistry to fill teeth because of its inexpensive nature, noncorrosive nature, durability, strength, and simplicity of application.
Another key driver is the use of silver enamel for painting. It is employed in the coating of outdoor surfaces as it is resistant to high temperatures. It prevents oxidation damage by creating protective coats on metallic products or buildings. It dries rapidly and offers the product a strong and glossy appearance.
However, a number of factors are limiting the demand for silver enamel globally. The Food and Drug Administration (FDA) has recommended that dental products be labeled with a warning ‘not to use them on those who are allergic to silver’.
The market's expansion is also hindered by the easy availability of suitable substitutes like ceramic fillings, amalgam filling, and gold alloy fillings, the emergence of dental advanced composites, and a lack of knowledge about present silver enamel products.
The demand for silver enamel is expected to decline due to its toxicity, allergic sensitivity, and decreased visual appeal quality, which would restrict the market's ability to expand globally. Additionally, it is anticipated that the doctors’ refraining from using silver enamel in dentistry in countries including Norway, Germany, Sweden, Austria, Denmark, and Finland due to health concerns can have a negative effect on the market growth.
Global Silver Enamel Market Size (2021)
US$ 2 Billion
Global Silver Enamel Market Size (2022)
US$ 2.1 Billion
Projected Market Value (2032)
US$ 3.6 Billion
Global Market Growth Rate (2022-2032)
United States Silver Enamel Market Growth Rate (2022-2032)
Key Companies Profiled
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Which region holds significant opportunity for Silver Enamel Market?
Silver enamel is widely utilized throughout the Asia Pacific for a number of reasons, especially in emerging countries like China and India, due to its low cost and easy availability in the region. The region's growing population and expanding desire for imitation jewelry are two additional market drivers for silver enamel in the region.
Besides, North America significantly contributes to the silver enamel market. The American Dental Association has authorized silver enamel for use in tooth restorative procedures. As a result, the majority of dentists in Canada and the United States utilize silver enamel. As a result, North America is anticipated to contribute significantly to the market growth worldwide.
Europe also stands as a potential market for Silver Enamel. This is mainly due to the rising concerns of oral health in countries like Poland. Additionally, the increasing demand for silver jewelry in the region is also positively impacting the market for Silver Enamel.
U.S. Silver Enamel Market Analysis
The United States has the largest market for Silver Enamel, which is projected to reach a valuation of US$ 1.3 Bn by 2032. From 2015 to 2021, the market in the US grew at a CAGR of 4.6%. Between 2022 and 2032, the US is expected to be a market with a US $500 Mn absolute dollar opportunity.
Silver enamel is popular for jewelry making in the United States in addition to being frequently used for tooth restoration. In a poll conducted by Silver Promotion Service in 2020, around 42% of the jewelers surveyed stated that sales of silver jewelry had increased for the year, and 52% of those who had claimed an increase said their rises varied from 11% to 25%. The demand for silver enamel in the U.S. is fueled by these factors.
U.K. Silver Enamel Market Analysis
The United Kingdom holds a considerable share of the market. By 2032, the market for Silver Enamel in the U.K is expected to be worth nearly US$ 100 Mn. The market has previously experienced a CAGR of 3.9% from the year 2015 to 2021 and is expected to experience a CAGR of 4.4% in the next ten years.
China Silver Enamel Market Analysis
In 2021, China was the second-largest Silver Enamel Market after the US. The market in the country is expected to reach a valuation of US$ 248 Mn by 2032. From 2015 to 2021, the market in China grew at a CAGR of 4.3%. Between 2022 and 2032, the US is expected to be a market with a US$ 93.2 Mn absolute dollar opportunity.
As of July 2020, most of the silver enamel around the world is imported from China. The top 3 import markets for Silver enamel are India, Vietnam, and Indonesia. India is the largest importer of silver enamel from China followed by Vietnam and Indonesia.
Japan Silver Enamel Market Analysis
By 2032, the market for Silver Enamel in Japan is expected to be worth US$ 200 Mn, with an absolute dollar opportunity of US$ 10 Mn. The Market has previously experienced a CAGR of 3.8% from the year 2015 to 2021 and is expected to experience a CAGR of 4.5% in the next ten years.
South Korea Silver Enamel Market Analysis
In South Korea the Market for Silver Enamel is expected to be valued at US$ 100 Mn by 2032. The market has previously experienced a CAGR of 3.1% from 2015 to 2021 and is expected to experience a CAGR of 3.9%.
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Which Type of Silver Enamel is Generating Significant Revenue in the Market?
Tooth Filling Material generated the maximum revenue in the Silver Enamel Market. Revenue through this category experienced a CAGR of 5.7% from 2015 to 2021 and is projected to experience a CAGR of 5.1% in the next ten years, from 2022 to2032.
According to a 2011 NY Times article, the American Dental Association estimates that Americans receive 175 million fillings annually. Americans have an average of three dental fillings as adults, and one in four have at least eleven tooth fillings, which is driving up the demand for silver enamel.
What was the impact of Covid-19 on Silver Enamel Market?
Similar to how it affected every other business, Covid-19 impacted the market dearly. The amount of silver enamel manufactured has dropped as a result of plant closures around the world brought on by various government-imposed lockdowns.
The price of silver enamel increased during the pandemic, which further decreased customer demand. Covid 19 concerns, according to a survey by the North American Dental Group, kept almost 71% of patients from visiting the dentist for routine care.
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At present, the Silver Enamel market is moderately competitive with only a few dominant players in the global silver enamel market. The key companies operating in the market are Pamco International, Nicole Barr, Guangzhou HuifuJewelry Co. Ltd., Fine Enamels, David-Andersen Marks, and Thompson Enamel.
Some of the recent developments by the key players in the Silver Enamel Market are :
- In May 2022, PlusDental, a producer of orthodontic treatment alternatives in Europe, agreed to be purchased by The Straumann Group. This investment will enhance the company's future consumer experience and provide new growth prospects.
- In August 2021, PPG launched PPG ENVIROCRON PCS P4 power coatings for usage in furniture, architecture, and home decor. The most recent generation of power coatings satisfies the growing demand for matte and premium-textured surfaces in a variety of applications, including urban and office furniture as well as steel and aluminum substrates for building construction.
- In July 2021, Mercedes-Benz and AkzoNobel N.V. renewed their partnership arrangement for an additional four years. This indicates that the business will keep offering services and goods for vehicle coatings, such as automotive and specialized coatings in China and as a preferred partner in Indonesia.
- In June 2021, AkzoNobel bought paint and coating manufacturer Grupo Orbis. AkzoNobel will be able to strengthen its position in South and Central America owing to this tactical acquisition.
- In March 2021, the coating technology from Qlayers provides a fully automated alternative to the current human coating methods employed in the sector that is safer, more reliable, and quicker. It is a cost-effective, sustainable solution to get rid of overspray. Customers are using this technology to apply anti-corrosive coating systems among other things.
Key Segments Covered in Silver Enamel Market Survey
- Tooth Filling Material
- Raw Materials for Jewellery
By Application :
By Region :
- North America
- Latin America
- FAQs -
The global silver enamel market is currently valued at US$ 2.1 Billion by 2022
Over the projected period, the Silver Enamel Market is expected to increase at a CAGR of 5.3%, reaching a value of US$ 3.6 Bn by 2022.
The United States has the largest market for Silver Enamel.
The United States, The United Kingdom, China, Japan and South Korea are expected to drive the most Silver Enamels.
Pamco International, Nicole Barr, Guangzhou Huifu Jewellery Co. Ltd., Fine Enamels, David-Anderson Marks, and Thompson Enamel are some of the key players in the Silver Enamel Industry.
The Silver Enamel Market expanded at a CAGR of 5.9% from 2015 through 2021.