Fumed Silica Market size worth around $2.3 billion by 2027

According to a new research report by Global Market Insights, Inc., the Fumed Silica Market size will likely reach USD 2.3 billion by 2027. Increasing production and consumption of cosmetic & other personal care items will drive the product demand over the study timeframe
 

Fumed silica is highly versatile and can be used in daily use products to industrial products such as drug manufacturing, rubber production, paints & coatings formulations, and cosmetic products. It is produced through a hydrolysis reaction. Volatile chlorosilanes are introduced in oxyhydrogen flame, thereby producing high viscosity SiO2 primary particles. These particles have a smooth surface and size of around 5 - 30 nanometers.

 

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Fumed silica will display excellent growth potential over the next few years. The fumed silica demand is continuously on the rise, especially from Asia Pacific owing to the proliferating pharmaceutical industry. Many major players are currently increasing their production capacity and establishing joint ventures with other companies to minimize the demand-supply gap and gain an extra bottom line.
 

The industry participants are expected to increase their investments in the production technologies of fumed silica to cater to the needs of the growing pharmaceutical industry during the projected period. The COVID-19 pandemic has significantly affected the fumed silica market demand. The global demand is anticipated to drop at a moderate rate from the previous year. The pricing of fumed silica is expected to slightly decline due to the partial closure of manufacturing plants during the pandemic.
 

Browse key industry insights spread across 220 pages with 278 market data tables & 30 figures & charts from the report, “Fumed Silica Market, By Product (Hydrophilic, Hydrophobic), By Application (Pharmaceutical, Beauty & Personal Care, Silicone Elastomers, Paints, Coatings & Inks, UPR, Adhesives & Sealants, Food & Beverages), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/fumed-silica-market
 

The paints & coatings segment will witness around 6% CAGR through 2027. The product is used in paints & coatings and used to improve sag resistance and prevent the settling of heavy pigments. The addition of fumed silica in coatings inhibits scratching on the coating surface while improving the energy dissipation ability.
 

Hydrophobic fumed silica is used in coatings to resist the migration of water from the film surface to the substrate below. The product prevents sag and run-off of paints when applied on vertical surfaces. Furthermore, it minimizes the risk of rust and corrosion associated with paints & coatings. Fumed silica is used in inks to improve the flow characteristics.
 

Presence of a major consumer base will enable Europe to hold a considerable share

In 2020, Europe held around 20% share and will be driven by favorable trends associated with the silicone elastomer sector. Increasing demand from the automotive, consumer goods, and electronics sectors will bolster regional consumption of silicone elastomers. The demand will also generate a huge growth potential for the fumed silica market as it is used as a performance booster in silicone elastomers. Additionally, the fumed silica market growth will be assisted by increasing sales of food & beverage products over the study timeframe.
 

Companies in Europe are working on innovative production processes for fumed silica to remain competitive and expand their product portfolio, catering to various end-user industries. For example, Evonik invented a novel manufacturing method, Easy to Disperse silica (E2D) with low processing times, cleaning times, and production losses.
 

Additionally, removing the milling process decreases the required capital investment and costs associated with maintenance. To test the rheological effects, processing characteristics & optical properties in a coating system, the product is further processed through basic bead milling processes. Fumed silica can undergo wetting and dispersion processes that previously had to be carried out in two separate systems (dissolver & bead mill) and a single dissolver step.
 

Mergers & acquisitions by major players are observed as key market trend

Industry participants are increasingly involved in consolidation activities to increase their capabilities to complement their market share. Key sector players in the fumed silica industry include Dongyue Group, Kemitura Group, Cabot Corporation, OCI Company Ltd., Evonik Industries AG, Tokuyama Corporation, Orisl, China-Henan Huamei Chemical Co., Ltd., Wacker Chemie AG, Henan Xunyu Chemical Co., Ltd., Cabot Sanmar Limited, and Hubei Xingrui Silicon Materials Co., Ltd.

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