The new report by Expert Market Research titled, 'Global Fumed Silica Market Report and Forecast 2021-2026', gives an in-depth analysis of the global fumed silica market, assessing the market based on its segments like source, product, industry, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 5.0 %
Asia Pacific region dominates the global fumed silica market accounting for over a quarter of the market share. This can be attributed to greater consumption in emerging economies such as India and China and growing demand for personal care products. In India, the pharmaceutical industry is the largest consumer of fumed silica. India is also the largest distributor of generic drugs worldwide, with major customer base in the USA and UK. China is the largest manufacturer of paints and coatings in this region. These factors combined are expected to boost the global market growth as well.
Industry Definition and Major Segments
Fumed Silica, also known as pyrogenic silica, is a thickening agent that is made up of microscopic droplets of synthetic amorphous silica. It is produced by the vapor-phase hydrolysis method and is also used as an anti-caking agent. They mainly find application in paints, coatings, adhesives, and sealants.
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By type, the industry is categorised into:
By end use, the industry is categorised into:
- Paints and Coatings, and Inks
- Sealants and Adhesives
- Unsaturated Polyester Resins
- Gel Batteries
- Food Additives
- Personal Care and Cosmetics
By region, the industry is categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Fumed silica finds widespread usage in the adhesives and sealants industry to increase viscosity, control extrusion properties during application, boost anti-settling properties during storage and impart anti-sag properties while curing. It can also act as a reinforcing agent to improve the physical properties of the cured sealant, especially its tear strength. Thus, a positive outlook for the paints and coatings industries due to the rising demand from the construction and automotive sectors are expected to boost the market growth for fumed silica in the forecast period. However, availability of substitutes such as precipitated silica and production of biogenic fumed silica may serve as a hinderance to the growth of the market. The increasing popularity of eco-friendly paints and coatings is also likely to limit the demand for fumed silica.
Fumed silica is also extensively used in various drug, capsule, and tablet formulations, as well as in haircare, skin care and oral care products. The rising population and projected steady growth rate for pharmaceutical, beauty and personal care industries are thus expected to support the growth of the fumed silica market. Moreover, it is preferred in formulations where shelf stability is not a major concern. It is also used for silicone reinforcing and thickening, as a glidant for food and industrial powders and as a thickening agent for non-polar solvents.
Hydrophilic fumed silica holds more than half the market share due to broad range of applications. It has superior insulating propertied at high temperatures and is suitable for use in non-polar resin systems.
Asia Pacific holds the majority of the market share and is further projected to witness significant growth during the forecast period, owing to increasing population and demand from emerging economies. Favorable government are likely to boost the construction sector in the region, thereby generating a vast demand for paints, coatings, adhesives, sealants, etc. and further propelling the growth of fumed silica market. Rising disposable incomes and change in consumer preferences are expected to increase the demand for cosmetics and personal care products in the Latin American region, leading to steady growth of the fumed silica market in the region during the forecast period.
Key Market Players
The major players in the market are Evonik Industries AG, Cargill Inc., Cobot Corporation, Tokuyama Corporation, Wacker Chemie AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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