Growing demand for fumed silica in the pharmaceutical industry and paints and coatings segment is likely to project the market expansion for fumed silica throughout the forecast period 2021-2031.
- Market Estimates and Forecasts 2016-2031
- Key drivers and restraints shaping market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Fumed Silica and how to navigate
- Recommendation on key winning strategies.
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Key Segments Covered:
- Product Type
- Hydrophilic Fumed Silica
- Hydrophobic Fumed Silica
- Application
- Fumed Silica for Silicone Rubber
- Fumed Silica for Paints & Coatings
- Fumed Silica for Unsaturated Polyester Resins
- Fumed Silica for Adhesives & Sealants
- Fumed Silica for Healthcare & Personal Care
- Others
Competitive Landscape
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.
- In June 2021, key player Evonik Industries AG has signed a purchase agreement to acquire the privately-owned technology-driven company Infinitec Activos, with closing expected by July end.
- In May 2021, Cabot Oil & Gas Corp. plans to merge with Cimarex Energy in an all-stock deal that values the combined company at $17 Bn. The transaction is set to close in the fourth quarter. The combined company will operate under a new name and will be headquartered in Houston.
Growing demand for fumed silica in the pharmaceutical industry and paints and coatings segment is likely to project the market expansion for fumed silica throughout the forecast period 2021-2031. North America holds around 1/3rd of overall market share in global fumed silica market. Consumption of fumed silica in North America is backed mainly from mature end use market such as personal care, automotive and paints & coatings.
Key Takeaways from Market Study
- By product, hydrophilic fused silica yielded over 60% demand through 2021
- Hydrophobic fumed silica to surge at around 6% to record market value of 1.3 Bn
- Cosmetics and personal care segment to create around US$ 380 Bn opportunities over the long-term forecast period
- Paints and Coatings sector are the fastest-growing segment, expanding at above 5% CAGR
- U.S to contribute almost US$ 3 Bn in revenue by 2031, amid extensive uptake across silicone rubber manufacturing
- China to contribute over 50% demand for fumed silica throughout East Asia
- India to generate highly lucrative expansion opportunities in the future, especially across the construction sector
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The marketplace for fumed silica flourished at a CAGR of over 4% with a projected value exceeding US$ 1 Bn by the end of the historic period 2016-2021. Swelling demand for fumed silica in the pharmaceutical industry opened up significant applications in the aforementioned period.
The evolving cosmetics and personal care segment in the East and South Asian regions has strengthened fumed silica demand, as it is generally used in cosmetic formulations to prevent light reflection.
Simultaneously, the silicone rubber sector is expanding impressively at the rate of ~7% offering lucrative growth opportunities and reinforces the demand for fumed silica across the globe. Fact.MR projects the market worth for fumed silica to top US$ 1.6 Bn with a CAGR of above 5% throughout the 2021-2031 forecast period.
The augmented demand in the paints, coatings & sealants business is expected to drive the demand for fumed silica across the globe as it also delivers reinforcement and mechanic properties to sealants.
Furthermore, the cost-effectiveness of the product over precipitated silica is another factor expected to propel the growth of the target market. Besides, snowballing innovations in the manufacturing of drugs is boosting demand.
Prominent fumed silica players in the fumed silica market are gaining ground across key industrial applications including adhesives, paintings and coating etc. They are swiftly replacing conventional metals across various formulations.
U.S. tariffs on Chinese steel and aluminium products have aided a tectonic shift from metallic to composite or plastic components in motor vehicle engineering, positively impacting the acceptance for adhesives and fashioning manufactured from fumed silica.
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How is the U.S Experiencing High Demand for Fumed Silica?
The demand for high performance silicon rubber is surging, especially with rapid growth of the automotive sector. Hence, fumed silica is used as a reinforcement filler in tire rubber applications in order to improve tire performance. Hence, the U.S fumed silica industry is expected to surpass nearly US$ 3 Bn by the end of 2031.
On the other hand, growing demand for anti-aging products and E-commerce channel influencing sales, helping U.S capture the largest share of fumed silica market. The presence of key manufacturers like Thomasnet, Brenntag in the industry is fuelling demand across key end-use industries such as paints and coatings, cosmetics and personal care.
Why is Fumed Silica Market Flourishing in China?
China is likely to experience high demand for fumed silica throughout the forecast period. According to the International Monetary Fund (IMF), China is among the fastest-growing economies, generating heavy demand for construction and infrastructure development projects. This will boost the demand for fumed silica across the region.
On the other hand, booming demand for the healthcare and personal care industry will also garner the demand for fumed silica in the end-use market.
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