The Fumed Silica Market is projected to reach USD 2.26 Billion by 2022, at a CAGR of 7.1% from 2017 to 2022.
Browse 80 market data tables and 56
figures spread through 197 pages and in-depth TOC on "Fumed Silica Market
by Type (Hydrophilic, Hydrophobic), Application (Paints & Coatings and
Inks, Adhesives & Sealants, Pharmaceuticals, UPR, Gel Batteries, Lighting),
and Region (North America, Asia-Pacific, Europe) - Global Forecast to
2022".
Increasing awareness regarding the benefits of fumed silica
and growing usage of fumed silica in the paints & coatings and inks,
adhesives & sealants, pharmaceuticals, and gel batteries applications are
driving the growth of the fumed silica market.
Based on application, the pharmaceuticals segment is
projected to grow at the highest CAGR between 2017 and 2022, in terms of
volume. This growth is mainly attributed to the increasing usage of fumed
silica to coat active ingredient particles.
Fumed silica stabilizes pigment suspensions in liquid tablet
coatings, which, in turn, is anticipated to drive the high demand for fumed
silica from the pharmaceuticals industry. Moreover, fumed silica is
increasingly utilized in the paints & coatings and sealants applications,
as fumed silica imparts properties such as thickening, anti-settling, and
free-flow improvement to adhesives & sealants.
Based on type, the
hydrophilic fumed silica segment is projected to grow at a higher CAGR as
compared to hydrophobic fumed silica segment, in terms of value, during the
forecast period. This growth is mainly attributed to the increasing usage of
hydrophilic fumed silica in various applications such as UPR, silicone rubbers,
and paints & coatings and inks.
The Asia-Pacific region
led the fumed silica market in 2016; the market in this region is projected to grow at the
highest CAGR during the forecast period, in terms of value and volume. This
growth is primarily driven by the high demand
for fumed silica from the construction industry. Furthermore, various
initiatives undertaken by governments of emerging countries in the Asia-Pacific
region have contributed to the growth of the fumed silica market.
Biogenic fumed silica is expected to change the dynamics of
the fumed silica market, as the former product is commercialized. The biogenic
fumed silica can be manufactured by using rice hulls. It costs lower than fumed
silica due to its simpler production process.
The fumed silica market is expected to witness high growth
between 2017 and 2022, in terms of value and volume.
Key companies operating
in this market include Evonik Industries
(Germany), Cabot Corporation (U.S), Wacker Chemie AG (Germany), and Tokuyama Corporation (Japan).
Evonik Industries (Germany) adopted new product launches,
acquisitions, expansions, and joint ventures as key strategies to enhance its
presence in the fumed silica market. For instance, in March 2017, the company developed
a new range of fumed silica products to enhance
its existing line of product offerings. Furthermore, in January 2016, the company
established a new plant for its modified aerosol products. In October 2015, the
company partnered with Jiangsu Zhongneng Polysilicon Technology Development
Co., which is a wholly owned subsidiary of GCL-Poly Energy Holdings Limited
(GCL-Poly), to expand its customer base in the fumed silica market.
Cabot Corporation (U.S), a leading producer of fumed silica
has adopted various strategies such as expansions and joint ventures. For
instance, in May 2017, the company planned to invest USD 80 million for the
establishment of a new plant to enhance the production capacity of fumed
silica. This plant is expected to
commence operations by 2020. Furthermore, in December 2016, Cabot Corporation
entered into a joint venture with Inner Mongolia Hengyecheng Silicone Co., Ltd.
to manufacture fumed silica in China. This development strategy helped the
company strengthen its position in the fumed silica market.
Reference:
https://www.marketsandmarkets.com/Market-Reports/fumed-silica-market-103347608.html?utm_source=blog%2FML
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