Corrosion and abrasion resistance of fumed silica underpin its adoption in industrial and decorative applications. Paints & coatings industry presents sustainable growth opportunities.
DUBAI, UAE / ACCESSWIRE / March 2, 2020 / The global fumed silica market will grow at a healthy CAGR of 5% between 2019 and 2029. The universal thickening and anticaking agent is expected to garner incremental traction for silicone rubber, adhesives & sealants, and healthcare & personal care applications, owing to its sustainable attributes. A new Fact.MR study suggests that the green manufacturing trend will present lucrative growth opportunities to market players in following years.
"Market players are shifting away from capital-intensive production processes, as they are aiming for increased production capacity, cost savings and energy efficiency via modern manufacturing methods. Favorable price-to-quality ratio of fumed silica continues to build its preference over traditional alternatives," says Fact.MR in its new study.
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Fumed Silica Market - Key Takeaways
- Fumed silica market is set to experience a solid incremental dollar opportunity of over US$ 9 Bn by the end of 2029.
- Architectural and OEM coating applications drive demand for hydrophobic fumed silica.
- Silicone rubber will maintain share-wide dominance throughout the forecast period.
- North America leads global sales, with a majority share in the total market value.
- China holds significant market growth potential.
- The top four companies in market collectively account for more than 85% of global revenues.
Fumed Silica Market - Key Driving Factors
- Fuel efficiency concerns drive automotive applications of fumed silica, thereby pushing market growth.
- Advancements in manufacturing technology improve cost efficiency of fumed silica production, driving market profitability.
- Growing prominence of eco-friendly alternatives such as rice hulls will enable mass production of fumed silica, bolstering demand.
- Disparity between numerous end-use industries and limited number of suppliers will collectively sustain market growth.
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Fumed Silica Market - Key Restraints
- Limitation of fumed silica in concrete mixtures poses a mild restraint for its penetration in the building & construction industry.
- Susceptibility to temperature cracks further limits the application potential of fumed silica.
Competitive Landscape
The global fumed silica market is consolidated, and the top four players make up for a majority of production capacity. Prominent players in the fumed silica market include, but are not limited to Evonik Industries AG, Cabot Corp, Dow chemicals, Wacker Chemie AG, Tokuyama Corporation, OCI Company Ltd., Orisil, and Kemitura A/S. Market players are focusing on expansion of global footprint by installing production facilities in emerging markets. Research and development of raw materials, production processes, and end-use applications will shape the competitive landscape during the forecast period.
About the Report
This 170-page study offers readers a comprehensive market forecast of the fumed silica market. Global, regional and country level analysis of the latest industry trends impacting the fumed silica market are covered in this Fact.MR study. The report offers compelling insights on the fumed silica market on the basis of product type (hydrophilic and hydrophobic), applications (silicone rubber, paints & coatings, unsaturated polyester resins, adhesives & sealants, healthcare & personal care, and others), and across seven regions (north America, Latin America middle east & Africa (LAMEA), Europe, South East Asia & Pacific, China, India, and Japan).
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