Market Overview: The global fumed silica market experienced substantial growth in 2020 and is projected to maintain a steady revenue compound annual growth rate (CAGR) throughout the forecast period. The market's expansion is driven by increasing demand from various industries such as building and construction, electrical and electronics, automotive and transportation, personal care and beauty, food and beverage, and pharmaceutical sectors.
Fumed silica is chemically represented by SiO2. It is produced as small particles with high purity, large surface area, and a propensity to form chemical bonds. The manufacturing process involves injecting chlorosilanes, like silicon tetrachloride (SiCl4), into a hydrogen and air flame, resulting in the production of tiny particles of fumed hydrogen chloride and silica.
Fumed silica, also known as pyrogenic silica, finds application as a thickening agent, anticaking agent in powdered foods, and a milkshake thickener. It has a major particle size range of 5 to 50 nanometers, is non-porous, and exhibits a surface area of 50–600 m2/g with a density ranging from 160 to 190 kg/m3.
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Major Factors Driving Growth Of The Global Fumed Silica Market: The pharmaceutical industry faces challenges in tablet and capsule production, and fumed silica aids in enhancing properties, streamlining the process. It is utilized as an anticaking agent, adsorbent, disintegrant, and glidant in tablet manufacturing, promoting smooth powder flow. Moreover, fumed silica is considered biologically harmless. With the global medical industry witnessing rapid growth, the demand for fumed silica is expected to increase significantly. Additionally, rising investments and technological advancements in the pharmaceutical sector contribute to market growth.
Factors Restraining Growth Of The Global Fumed Silica Market: The growth of the global fumed silica market is hindered by several unfavorable factors, including regulations and standards implemented by government organizations worldwide. For instance, the Food and Drug Administration (FDA) restricts the use of fumed silica in manufacturing, allowing it as a food additive only in limited amounts not exceeding 2% of the product's weight. Occupational Safety and Health Administration also enforces a standard for fumed silica exposure known as Permissible Exposure Limit (PEL). Complying with these regulations may force manufacturers to adopt new practices, impacting profit margins and potentially hampering industry growth.
Opportunities For Players Operating In The Global Fumed Silica Market: The paints, coatings, and sealants industry's rapid development presents lucrative opportunities for market players to strengthen their positions. Fumed silica's thixotropic nature in sealants provides specific sag-related features for effective practical application, along with reinforcement and mechanical qualities. The construction industry's booming growth worldwide also drives the demand for paints and coatings, offering further opportunities for the fumed silica market.
Global Fumed Silica Market Revenue Led By Product Type Segment: The hydrophilic segment is expected to hold a steady revenue share over the forecast period. Hydrophilic fumed silica exhibits exceptional insulating properties at high temperatures and is utilized in non-polar resin systems, condensing non-polar solvents and serving as a silicone reinforcing and thickening agent.
Global Fumed Silica Market Led By Application Segment: The silicone elastomers segment accounted for the largest revenue share in 2020. Silicone elastomers find diverse applications, including voltage line insulators, various consumer goods, electronics, medical devices, and sealant manufacturing, due to their physiological inertness and versatility.
Asia Pacific Accounts For Largest Revenue Share In Global Fumed Silica Market: Asia Pacific emerged as the largest market for fumed silica in 2020, with the highest revenue share. This growth is attributed to the region's increasing population rate and rapid urbanization, making it a profitable market for producers aiming to enhance profitability due to high domestic demand, raw material availability, and low-cost labor.
Latin America Continues To Lead In Terms Of Revenue CAGR: The Latin American fumed silica market is expected to register the fastest growth in CAGR over the forecast period, driven by rising demand for cosmetics and personal care products. Increasing disposable incomes and shifting consumer attitudes toward cosmetics are factors contributing to the surge in demand for beauty items, including local beauty products.
Major Companies Profiled In The Report: The report includes profiles of major companies operating in the fumed silica market, such as Evonik, Cabot, Wacker, Tokuyama, Orisil, OCI Corporation, GBS, Wynca, Fushite, Blackcat, and Changtai. The strategies and objectives of these companies are also detailed in the report.
Detailed Segmentation In Our Report: The global fumed silica market is segmented based on product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028):
- Hydrophilic Fumed Silica
- Hydrophobic Fumed Silica
Application Outlook (Revenue, USD Billion; 2018-2028):
- Silicone Elastomers
- Paints
- Coatings Inks
- Adhesives Sealants
- UPR Composites
- Others
End-Use Outlook (Revenue, USD Billion; 2018-2028):
- Building Construction
- Electrical Electronics
- Automotive Transportation
- Personal Care Beauty
- Food Beverages
- Pharmaceuticals
- Others
Region Outlook (Revenue, USD Billion; 2018-2028):
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
The report provides various benefits for stakeholders, such as historical and forecast data points presented in tabular, figure, and chart formats, with detailed and qualitative written information for each point. It includes revenue break-ups for each segment globally, regionally, and by country for each year between 2018 and 2028. The report offers insights into growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market. Market research analysis plays a vital role in crucial business strategies, providing a clearer understanding of competitors' strategies, product launches, competitive analysis, technological advancements, and other factors that enhance a firm's sales or aid in making informed decisions regarding mergers, acquisitions, strategic agreements, or joint ventures. The report also contains company profiles of top players in the market, including their revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product/services, expansion strategies, investments, and more.
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