The Global Fumed Silica Market accounted for USD 1.50 billion in 2016 and is projected to grow at a CAGR of 7.2% during the forecast period of 2017 to 2024.
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Global Fumed Silica Market, By Type (Hydrophilic, Hydrophobic); Application(Paints & Coatings, Adhesives & Sealants, Pharmaceuticals, UPR, Gel batteries, Lighting, others)By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Fumed silica is the type of silica that contains microscopic droplets of amorphous silica used worldwide as universal thickening agent and anticaking agent in powders. Also known as pyrogenic silica, it is used in several industries such as paints, coatings, adhesives, plastics, sealants, cosmetics, unsaturated polyester resins.
Fumed silica is majorly used in the paints and coating industries, as the anti-settling agent.
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Major market drivers:
- Growing pharmaceutical and construction industries
- Increasing awareness regarding the benefits of fumed silica
- Cost-effectiveness of fumed silica as compared to precipitated silica
- Growing popularity of the eco-friendly paints hampering the demand for fumed silica
- Stringent government regulations
Major Market Competitors
Some of the major players in the fumed Silica market include Evonik Industries, Cabot Corporation, WackerChemie AG, and Tokuyama Corporation,China National Bluestar(Group) Co.,Ltd, Inner Mongolia Sucon Silicone Co, Ltd., YichangCsgPolysilicon Co, Ltd, Dongyue Group Ltd., HeraeusQuarglas GmbH & Co. Kg, Applied Material Solutions, Inc., Agsco Corporation, Fuji Silysia Chemical Ltd, Dalian Fuchang Chemical Co, Ltd., YichangCsgPolysilicon Co, Ltd and many more.
The fumed silica market is segmented on the basis of type into hydrophilic fumed silica and hydrophobic fumed silica. Hydrophobic fumed silica is expected to grow at the highest CAGR over the forecast period.
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On the basis of application, the market is segmented into paints & coatings, adhesives & sealants, pharmaceuticals, UPR, gel batteries, lighting, others. Paints & Coatings is expected to witness the highest demand from the automotive sector over the forecast period.
On the basis of geography, the fumed silica market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, Asia-Pacificis expected to dominate the market.
The global fumed silica market is highly fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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