Market Insights
Market Research Future has reported that the global Fumed Silica Market Share is expected to witness higher-than-average growth at a CAGR of 7.80% during the forecast period from 2017 to 2023. The fumed silica market generated a value of USD 989 Mn in 2016, and at its projected CAGR the market is poised to reach an estimated value of USD 1662 Mn by the end of 2023.
Applications of fumed silica include, but are not limited to, use as a thickening agent, an anti-caking agent in free-flowing powders, as a desiccant, as a light diffuser in cosmetics, as a light abrasive, and several others. Many end-use industries use fumed silica for its various properties, the growth of associated industries in a rapidly growing economic scenario has significantly improved the demand for fumed silica. Emerging economies of the globe are being recognized as a prime market with expansion opportunities due to rising disposable incomes as well as the presence of significant manufacturing sectors in these countries. The major scope of application for fumed silica is primarily in adhesives sealants and paint coatings for automotive and construction sectors. Growing construction activities in emerging markets as well as for upkeep of existing infrastructure in developed markets are expected to lead to an increased demand for fumed silica. Moreover, the material is highly affordable making it a common and popular choice. The pharmaceutical industry is an up and coming sector for the sales of fumed silica as healthcare investments rise worldwide.
However, demand for bio-based fumed silica is growing, and the development of this alternative is expected to challenge the growth of the market over the coming years.
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Market Segmentation
MRFR’s analysis of the fumed silica market segments it on the basis of type, application, and region. Types of fumed silica have been broadly segmented into hydrophilic fumed silica, and hydrophobic fumed silica.
Applications of fumed silica have been segmented into silicon rubber, adhesives sealants, paints coatings, pharmaceuticals, cosmetics, battery gel, UPS, and others. Among these, the paint coatings industry was observed to have captured a market share of more than 30% of the total market. The pharmaceutical sector is anticipated to witness highly promising growth over the forecast period due to growing applications as healthcare investments are growing.
Global analysis of the market has segmented the market into key regions which include North America, Latin America, Europe, the Middle East Africa, and the Asia Pacific.
Regional Analysis
The Asia Pacific secured the largest share of the market of over 35% in 2016. Country-level markets such as China have established themselves in a leadership position in the APAC fumed silica market. Rapidly growing economies with significant growth in industries such as automotive, construction, paint coatings and healthcare. The APAC has a significant paint coatings market which drives the fumed silica market in the region. Increased demand for products and services from these industries has resulted in rising demand for fumed silica.
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North America follows the APAC fumed silica market in terms of size which covers roughly a fourth of the global market. Europe represents the third largest share, with Russia representing the fastest growing country-level market in the region. The Middle East Africa is also a growing regional market due to the presence of rapidly emerging economies such as U.A.E Saudi Arabia.
Key Players
MRFR’s report on the global fumed silica market includes profiles of market players of prominence. Noted players included are Tokuyama Corporation, Cabot Corporation, Dalian Fuchang Chemical Co. Ltd., Power Chemical Corporation Ltd., 3M, Wacker Chemie AG, Dongyue Group Ltd., PPG Industrie Inc, Evonik Industries AG, and Kemitura.
Latest Industry News
· Evonik Industries has established a joint venture agreement with Chinese Wynca Group to manufacture fumed silica under the Aerosil brand name.
· In response to growing demand, Evonik Industries in Germany is expanding its refining capacity for fumed silica in Rheinfelden, Germany.
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Fumed Silica industry valued approximately USD 1.5 Billion in 2016 is anticipated to grow with a healthy growth rate of more than 7.12% over the forecast period 20172025.
Increasing application of fumed silica in several industries such as construction, adhesives & sealants, and automobiles are giving growth to the Fumed Silica market.The objective of the study is to define market sizes of different segments & countries in previous years and to forecast the values to the next eight years.
The report is designed to incorporate both qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as drivers & restraining factors which will define the future growth of the market.
Additionally, it will also incorporate the opportunities available in micro markets for stakeholders to invest, detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and subsegment of the market are explained below:Click here to Get free PDF Sample @ https://www.grandresearchstore.com/report-sample/fumed-silica-market-60Type:Hydrophilic Fumed SilicaHydrophobic Fumed SilicaApplication:Paints, Coatings & InksAdhesives & SealantsPharmaceuticalsUPRGel BatteriesLightingRegions:North AmericaU.S.CanadaEuropeUKGermanyAsia PacificChinaIndiaJapanLatin AmericaBrazilMexicoRest of the WorldGet the Complete Report & TOC @ https://www.grandresearchstore.com/chemicals-and-materials/fumed-silica-market-60Furthermore, the years considered for the study are as follows: Historical year — 2015Base year — 2016Forecast period — 2017 to 2025Some of the key manufacturers involved in the market are Evonik Industries, Cabot Corporation, Wacker Chemie AG and Tokuyama Corporation.
The global fumed silica market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth.
With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each fumed silica market player in a comprehensive way.
Further, the fumed silica market report emphasizes the adoption pattern of the fumed silica across various industries.Fumed silica also known as pyrogenic silica has steadily gained traction in the last century.
Owing to its pyrogenic production processes, fumed silica possesses an array of fascinating properties which have found widespread utilization in industrial applications.
The emergence of trends in drug manufacturing, in tandem with performance improvements in drugs and capsules will additionally spur sales of fumed silica.Although fumed silica companies continue to find opportunities in paints & coatings, healthcare and personal care products, it is silicone rubber that will expand profit pools of fumed silica manufacturers.
As per report, global fumed silica market is projected to grow at a steady CAGR of around 5% and is forecast to surpass US$ 1.8 Bn by 2029 end.Key Takeaways of Global Fumed Silica MarketGlobal fumed silica market is anticiapted to create a value opportunity of around US$ 9 Bn during the forecast period, adding 1.6X more value in 2029 as compared to 2019.
