Fumed silica is used for manufacturing various products. Its application ranges from highly technical to simple processes. According to the recent study conducted by Market Research Future (MRFR), the global fumed silica market is expected to grow to over USD 1600 Mn by 2023 up from USD 989 Mn, reflecting a 7.80% CAGR from 2019 to 2023.
Market Scenario and Growth Factors:
Fumed silica exhibits thixotropic behaviours and has rheological properties, which makes it a suitable ingredient for the manufacturing paint and coating. Pyrogenic silica is increasing used to prevent rust and corrosion. Fumed silica is used for adhesives, sealants, coatings, toner, inks, food additives, cosmetics, and deformers among others.
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Fumed silica-based adhesives, sealant, coatings and paints are in high demand in the construction industry and automotive industry. Hence, fumed silica has major application scope in these industries. Demand for fumed silica is on the rise partly owing to its cost effective attributed. It is witnessing an increased acceptance in various industry verticals. In addition, the product is finds application opportunities in the pharmaceutical industry. In terms of revenue, the pharmaceutical industry is expected to make a noteworthy contribution to the global fumed silica market in the foreseeable future. Nonetheless, emergence of biogenic fumed silica is a major threat to the market. Inclination towards biogenic fumed silica can be attributed to the rising concerns over environmental degradation.
Evonik Industries AG (Germany),
Cabot Corporation (U.S.),
PPG Industrie, Inc (U.S.),
Dalian Fuchang Chemical Co., Ltd (China),
Power Chemical Corporation Ltd (UK),
Kemitura, Dongyue Group Ltd. (China),
Tokuyama Corporation (Japan), 3M (U.S.)
Wacker Chemie AG (Germany)
The segmental analysis of the global Fumed Silica Market is based on application, type and region.
On the basis of application, the market has been segmented into adhesive and sealants, pharmaceutical, cosmetics, UPS, paint and coating, battery gel, silicon rubber and others. By type, the market has been segmented into hydrophobic fumed silica and hydrophilic fumed silica.
Based on region, the market has been segmented into Europe, Asia Pacific (APAC), North America, Latin America and the Middle East & Africa (MEA). Of these, APAC holds the largest market share in terms of revenue. APAC commanded for more than one-third market share in the year 2016 and this trend has continued in the following years. China remains at the centre of all the action in APAC. China represents a considerable share both in terms of production and consumption. Rapid economic development and tremendous growth of major sectors such as construction, paint & coatings, automotive, and healthcare in the countries has reflected favourably on the market. In 2016, the market in China raked in USD 159 Mn in revenues. Growth of the end use industry is a major driver of the market.
North America represents the second largest market for fumed silica and is expected to high attractive during the assessment period. In North America, market growth will be primary driven by the robust consumption of fumed silica in the domestic manufacturing sector. Europe is also expected to remain a crucial market for fumed silica during the forecast period. Advanced countries such as the U.K., Russia, France and Germany are the major contributors to the market in Europe. Stringent regulations on usage of industrial chemicals is prompting market player to opt for bio-based alternatives that do not harm the environment. The market in MEA is also expected to witness a steady growth in the forthcoming years. The GCC countries are expected to play an important role in driving the market growth as these countries are undergoing rapid development and economic restructuring.
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